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Tanger Factory Outlet Centers Testimonial

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Disconnected Challenges

Tanger wanted to handle all SEC report development and filing processes—including XBRL tagging—in house, but the company’s reporting software did not provide the capacity or control they needed.

Connected Results

  • Unsurpassed customer service and support
  • Complete control over external report development and XBRL tagging
  • Streamlined report review and editing process

Solutions

SEC Reporting, Management Reporting, Financial Reporting

Industries

Investments

 

Tom Guerrieri: We had always done our own EDGAR work since we became public in 1993 and then when XBRL came along, we actually did outsource that part of the process for two quarters and we found that that did not work. There was the pencils-down that everyone knows about and it didn’t really fit in with our culture. So then we had a demo from WebFilings and we thought, "This is great. We can actually take back control of our filings,” because XBRL is an integrated part of your filing now, and that’s what really brought us back together.

Eric Richardson: It’s more of what I’m used to, more spreadsheets that I’m used to working in. So the feel is very similar to what I’ve known in other jobs that I’ve had. So it’s not like a foreign concept. It’s like I’m in the same program I’m used to using for other tasks that I work on during the day. Also, I like that it’s cloud-based so it’s easy to access from home. If there’s something I think of that, “Oh, I need to add that to the Q for next quarter,” I can log in and add it while I’m thinking about it. So it’s very user-friendly.

Tom Guerrieri: The process now, it just becomes better and better because I think you guys are putting out enhancements to your product virtually every quarter, maybe even more often than that. So the software has changed a lot since we first used it in our first filing with you and it’s become much better.

My favorite feature is probably the people that you work with, my customer success manager, the consultant that we use at WebFilings for XBRL. They’re great people, you kinda consider them like your friend. You really get to know them. No matter when you call them, they call you back. So I think customer service is the best part of WebFilings.

Eric Richardson: By using one workbook, you’re updating numbers in multiple places, like our supplement, our press release. The workbook updates all those documents at the same time.

Tom Guerrieri: The one thing that I really like about WebFilings is the file base feature. So there’s no longer where I have to come into the office to work on the filing in whatever software I’m in or to have access to the network. Now no matter where I am, I can work on the product as long as I have internet access. I can’t even count the number of places that I’ve worked on one of our filings. Anywhere from my parents’ house to my house to being somewhere else at a conference and having to work on it on a laptop. So that’s a feature that really adds a lot to the product.

I have recommended WebFilings to other peers and I would do so in the future.

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