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MD&A, and Financial Statements

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  • Before implementing Wdesk two years ago, Derek's company used Microsoft® Word and Excel for both financial statements and MD&A. He said his company felt the final product often wasn't up to its standard of professionalism.
  • To manage revisions of a given report, Derek and his colleagues used track changes mode in each document. But that wouldn't show, for example, if a number in an embedded Excel chart had updated.
  • Derek said his department worked from "essentially January to the end of March" on reports. Once they sent those reports out internally for feedback, he would have trouble knowing which version a reviewer read because there were so many revisions.
  • Because the documents were large and the reports had many tables and charts, they often crashed or became corrupted.

How Wdesk works for Derek

  • Derek's company benefits from the ability for multiple departments to work on a report simultaneously. As his department keys in the information, the communication department can begin formatting that information, rather than having to wait for the whole report to be done.
  • To populate information into the MD&A and other reports, Derek's team inputs numbers into a master workbook linked directly to those reports. The reports are all updated from a single spot.
  • After a report is finished, Derek's team exports it to a PDF and distributes it to the appropriate stakeholders and executives.
  • The team also uses the blackline feature that can show what changed between two versions of a document, table, or workbook. Derek sees it as another way to collaborate between departments and show progress in the report. He said he thinks it's more effective than track changes, simply because it's cleaner to read and very easy to generate.


  • Derek estimates Wdesk has saved his team two weeks of time annually, largely due to the ability to work on formatting throughout the process. Derek says he gets better feedback on the actual content of the report, not just formatting.
  • The report process now goes from January to end of February. For Derek, that means less stress and a better work-life balance.
  • Derek and his team enjoy always having their personal Customer Success Manager available to answer any questions.
  • Because of the great success Derek and his team have had with Wdesk, they call themselves "evangelizers" of the platform.


Some names and identifying details have been changed to protect the privacy of individuals.
Microsoft Excel and Word are registered trademarks of Microsoft Corporation in the United States and/or other countries.


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