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Quarterly and Annual Reports

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  • The team is responsible for the quarterly and annual financial statements for the organization
  • It also creates a press release, including highlights of the report, that needs to be quickly prepared after the report is ready. 
  • Prior to Wdesk, the documents were constructed in Word® with Excel® tables directly embedded. The team had issues with version control when the document was broken up for preparation and when it was sent for review.

How the team uses Wdesk

  • The team has developed a master workbook in Wdesk to serve as the source for data. Reports are downloaded from the general ledger, as well as spreadsheets sourced from other parts of the organization to Excel. The team keys the data into Excel, and then uses Wdesk Sync to upload it directly to Wdesk with a click of a button.
  • The master workbook in Wdesk is then linked, so after the sync, the data automatically populates in financial statements, narrative, and footnotes. If something changes during the close process, the team simply re-syncs the master workbook, and the changes flow through to all of the components automatically.
  • The team also created a template for the news release, which is connected to a dashboard. The dashboard calls in key metrics from the financial statements and gives a quick overview of the information that will be put in the release. Numbers populate in the template when the document is synced.
  • The team has a Customer Success Manager (CSM) who knows each member by name, knows the business, and is familiar with its structure and organization. Whenever the team has any issues, the CSM can resolve it over a quick phone call.


  • The team has seen time savings since implementing Wdesk—up to several days gained over the course of a quarter. It uses the extra time to develop new reports within Wdesk and is moving toward using it as the central source of its financial information.
  • The team received a directive from its controller to reduce hard copies of supporting documentation. Prior to Wdesk, it had three binders. After one quarter of using Wdesk, the team cut binders down to two, and it hopes to continue the trend for the next report.
  • Sending reviews to committees and auditors is streamlined. The team creates blacklines in Wdesk that shows only what has changed between any two version of the document, and then it's sent digitally for review.
  • The three team members say they've gained a much better sense of version control over the documents. They now have one living version of their reports, and each member can edit and review his or her individual sections while the other members work on theirs. There's no need to create multiple files to send around as it's developed.


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