Monthly and Quarterly 10-D Filings

Alex is in charge of collecting data for, preparing, and filing the monthly and quarterly 10-Ds, along with support documents. The previous process began with reports generated from a management and reporting system, which was the primary exhibit. Also included is a cover letter and an officer's certificate. At any given time, there were six or seven outstanding securitization trusts.

Situation

  • Alex is in charge of collecting data for, preparing, and filing the monthly and quarterly 10-Ds, along with support documents. The previous process began with reports generated from a management and reporting system, which was the primary exhibit. Also included is a cover letter and an officer's certificate. At any given time, there were six or seven outstanding securitization trusts.
  • The reports were generated in Word® and then packaged together in a PDF. Both sets were sent to Merrill Corp. for conversion and printing. However, that process took time. Often, if Alex knew a certain date needed to be matched, he had to manage Merrill's timeline into his own.
  • Alex was introduced to Wdesk by a coworker in the financial planning and analysis (FP&A) department who was using it for a number of filing processes. After a short discussion about how Wdesk worked and the process surrounding the FP&A filings, he determined his own work could be streamlined.
  • Alex's director was receptive to the change—there was a feeling that the current process existed simply because that's the way it has always been done. After careful consideration and conversation with the FP&A department, Alex and his director decided to make the switch to Wdesk.

How Alex uses Wdesk

  • Alex now files directly to the SEC from Wdesk. He's no longer dependent on third-party timelines. He controls the flow of information and overall process on his own.
  • He still begins his process by exporting a version of the report from the system, but rather than exporting it to Word, he does it as a spreadsheet. He then automatically syncs that spreadsheet to his Wdesk workbook using Wdesk Sync—an extension that keeps workbooks in tune with offline, desktop-based spreadsheets.
  • Wdesk instantly generates PDF versions of reports. Alex can quickly send files to management for review and be confident that the files accurately mirror what will be made public. Once he gets sign-off, he submits them to the SEC on his own.
  • When he has questions about Wdesk, he reaches out to his dedicated Customer Success Manager (CSM). Alex notes that his CSM is supremely responsive and is always spot-on with solutions.

Results

  • Wdesk Sync ensures that numbers in Wdesk always accurately reflect what Alex has in the reporting system. The risk of errors from copying and pasting numbers or manual entry are significantly reduced.
  • The overall reporting process is streamlined now that it's built around Wdesk. The Sync feature, combined with internal filing control, reduces excess steps in the process.
  • There have been enough gains in efficiency that Alex and his wider team are starting to move Wdesk into other processes as well.

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

How Alex uses Wdesk

  • Alex now files directly to the SEC from Wdesk. He's no longer dependent on third-party timelines. He controls the flow of information and overall process on his own.
  • He still begins his process by exporting a version of the report from the system, but rather than exporting it to Word, he does it as a spreadsheet. He then automatically syncs that spreadsheet to his Wdesk workbook using Wdesk Sync—an extension that keeps workbooks in tune with offline, desktop-based spreadsheets.
  • Wdesk instantly generates PDF versions of reports. Alex can quickly send files to management for review and be confident that the files accurately mirror what will be made public. Once he gets sign-off, he submits them to the SEC on his own.
  • When he has questions about Wdesk, he reaches out to his dedicated Customer Success Manager (CSM). Alex notes that his CSM is supremely responsive and is always spot-on with solutions.

Results

  • Wdesk Sync ensures that numbers in Wdesk always accurately reflect what Alex has in the reporting system. The risk of errors from copying and pasting numbers or manual entry are significantly reduced.
  • The overall reporting process is streamlined now that it's built around Wdesk. The Sync feature, combined with internal filing control, reduces excess steps in the process.
  • There have been enough gains in efficiency that Alex and his wider team are starting to move Wdesk into other processes as well.

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

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