- Why Wdesk
Stillwater Mining Company Testimonial
Barbara Hupka: After using WebFilings it seems like we were doing it pretty manual before, really. I mean, you know, you’ve got your reviewers who are looking at it, then we’re having to incorporate those changes into our document and then reviewing those.
It’s… we had a third-party provider that we sent the documents out of house for them to do the XBRL and to do the EDGARizing, so we had no real control over that. You know, you, in theory, the 48 hours pencils-down approach, which I think in today’s environment is pretty tough to meet.
The control that we had, being able to secure the data once we had, you know, once it’s been inputted, reviewed, and approved, the fact that we can secure that data so that we know that it’s not going to be changed, it’s not going to inadvertently be overridden with another number. Yeah, the time savings, that is a huge factor, but I think more the validation, the level of assurance that we have. There’s a lot of aspects that stick out.
Our audit committee meeting was not held on site this year and so to be able to have everything printed, ready to go for them so that they could make their trip because they held it at the mine, and then to do the blackline version from the audit committee to the board meeting. Not only was it in document but it was in the tables, it was in the charts. They could see that change. So those were features that we didn’t have before.
I think the benefits that you gain from this, the idea of doing your own XBRL tagging, yeah, that’s a little overwhelming I think. We did not do a lot of that our first quarter, the CSM of our team did it for us. You’re not alone. I mean, you know, that is something that you… there is somebody that you can call. There’s so many levels of assurance, there’s so many checkpoints, there’s things that give you the assurance that you’re doing it right and you can see the progress that you are making. You can make the change, you can see it take place instantaneously. Whether it’s just your Q that you’re filing, we have our earnings release, we’re populating that at the same time, we have another document that they use kinda like for talking points. It’s updated at the same time. So it’s…the efficiencies that you have and, I mean, I just think that it resonates that it is a pretty good program.