Preparing Quarterly and Annual Financial Reports with Wdesk

Situation


  • Jim was creating up to 15–20 individual drafts of each report, and each version only changed one or two numbers. It was tough to track and manage them all.
  • Prior to Wdesk, he had trouble making updates in reports as they progressed from quarter to quarter. Whenever something changed in an embedded Word® file, for example, he also had to ensure any related documents were correct, in addition to reformatting.
  • Reports also included photo files, and formatting the embedded elements around text was often a struggle.

How Jim uses Wdesk


  • To generate quarterly reports, Jim now brings data from Excel® into Wdesk. Once in place, documents and workbooks are linked, so if a number changes in one place, all related data points are automatically updated, increasing efficiency.
  • Linked data helps him control which contributing documents affect different areas of the report. For example, Worksheet A can affect Section I of a report without affecting Section II.
  • Once all of the information and data are in place, Jim uses the milestone feature of the built-in document history when reviewing the report. It helps the company ensure it's hitting targets in an easy-to-read, simple fashion.
  • Jim is interested in further implementation across departments because of the ability to link reports between multiple departments.

Results


  • The controller loves the new turnaround time, in addition to the quality of the report. "It's a much easier turnaround to draft in Wdesk than it would be in Excel or Word," Jim says.
  • He also appreciates the customer service he receives as a Workiva customer. His Customer Success Manager is always available for training, and periodic check-ins are par for the course.
  • Jim says the ability to link documents has greatly increased efficiency. Being able to change one number and have a chart in another place subsequently update is extremely helpful.

Word and Excel are registered trademarks 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 Jim uses Wdesk


  • To generate quarterly reports, Jim now brings data from Excel® into Wdesk. Once in place, documents and workbooks are linked, so if a number changes in one place, all related data points are automatically updated, increasing efficiency.
  • Linked data helps him control which contributing documents affect different areas of the report. For example, Worksheet A can affect Section I of a report without affecting Section II.
  • Once all of the information and data are in place, Jim uses the milestone feature of the built-in document history when reviewing the report. It helps the company ensure it's hitting targets in an easy-to-read, simple fashion.
  • Jim is interested in further implementation across departments because of the ability to link reports between multiple departments.

Results


  • The controller loves the new turnaround time, in addition to the quality of the report. "It's a much easier turnaround to draft in Wdesk than it would be in Excel or Word," Jim says.
  • He also appreciates the customer service he receives as a Workiva customer. His Customer Success Manager is always available for training, and periodic check-ins are par for the course.
  • Jim says the ability to link documents has greatly increased efficiency. Being able to change one number and have a chart in another place subsequently update is extremely helpful.

Word and Excel are registered trademarks 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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