- Why Wdesk
Pioneer Energy Testimonial
Brenda Ohrmundt, External Reporting Manager: I did an online demo first and my thought was, “I’ve got to get this thing approved.” So I asked our sales rep to come do a demo in-house so that our whole team could see what it would provide.
We were using a financial printer to do our tagging for us. So it was full service, they did the tagging, and then I reviewed the tagging.
Kurt Forkheim, Controller: Sometimes they needed a day turnaround, sometimes it would be three days or what have you and then you’d have to wait and get the draft back, pencils down, no more changes. And sometimes it would come back in really good shape or sometimes, you know, more often than not, there’d be changes that you’d have to make going back and forth.
Brenda Ohrmundt: The worst thing that would happen is that we would have last-minute changes. Because it was so manual, we had to shut the process down early or we couldn’t get it out on time.
Kurt Forkheim: You lose some control about that last part of the process. So you close your books, you disseminate the information internally, but then when you get to that point where you’re ready to file the document with the SEC and complete the process for the quarter, the year end, or what have you, you lose… you’d lose a little bit of control with regard to timing and things like that.
Brenda Ohrmundt: We basically got three more days for our… for our work because we would have to shut it down so much earlier just to get the XBRL out. We do it ourselves now and it’s… it’s great because we have full control of everything, which I guess I’m a control freak, but I like to have full control of my document and my process.
We can all be working in the document at the same time and there’s still only one master document, which is extremely helpful.
Kurt Forkheim: Version control is probably one of the biggest benefits I saw. You know, in giving me comfort as the controller knowing that we’re sending out a document that’s got all the comments incorporated in the changes made.
Brenda Ohrmundt: We use it obviously for all of our Qs and Ks and we use it for all of our 8Ks, our current reports, and a lot of the other one off reports that we have. S3s, S4s, S8s, we use it for all of those.
I love that they’re continuing to invest in the program and continuing to improve the program. These somewhat small things that you could easily get over and your clients could learn to deal with, that’s not the way WebFilings approaches it.
Kurt Forkheim: It’s provided us the benefits of being able to control that document at the end of the filing process where timing is key.
Brenda Ohrmundt: To me, you just took something we were doing and did it the way we should’ve been doing it all along.