Heartland Express was struggling to complete Section 16 reports using the inflexible online application provided by the SEC. They were forced to start from scratch every time they needed to create a report, because they were unable to download files or save information from the application. Even worse, they would periodically lose hours of work after the system would time-out.
- Slashed Report Development time—down from more than 60 minutes to less than 15
- Improved report accuracy and consistency thanks to saved data that automatically rolls forward
- Confidence in report development knowing Workiva is committed to continual product improvement
Wdesk has streamlined Heartland's SEC reporting processes, but until recently they struggled with Section 16 reporting. “The switch to the Wdesk Section 16 solution was a no-brainer."
When companies need on-time pickup and delivery they choose Heartland Express, a leader in truckload transportation services located in North Liberty, Iowa. When Heartland needs reliable financial reporting solutions, they turn to Wdesk. Heartland was one of the first companies to adopt Wdesk, but it wasn’t Midwestern camaraderie that sold them— it was sheer capability.
“In 2009, when we were looking at XBRL solutions, there was nothing else in the marketplace like it; it took the core SEC filing and combined it with XBRL filings within the same platform instead of a bolt on solution,” says Chris Strain, Accounting Manager for Heartland.
Section 16 Solved
Wdesk has streamlined Heartland’s SEC reporting processes, but until recently Strain and financial professional Robin Kloess still struggled with Section 16 reporting. Kloess was using the SEC’s online application to create and file the reports, but was limited by the system’s design. The SEC application doesn’t let users download files or save information. “You basically have to start a brand new document every time you file,” says Strain.
The SEC application also closes after a short window of inactivity, so if there was any delay in the process on Heartland’s end, the system would log out and Kloess would lose all of her work. “It forced you to stay on it or you would lose your data,” says Kloess.
When the Wdesk Section 16 Solution became available, Heartland was once again one of the earliest adopters.
The switch to Section 16 was a no-brainer. Knowing their commitment to having a product fully supported and working with customers closely to get the filing right—that played a huge part.
— Chris Strain, Accounting Manager, Heartland Express
The Wdesk platform slashes report development time because it keeps the company’s shareholder data, footnotes, and previously filed forms in a secure cloud-storage system accessible from anywhere with an internet connection. The information rolls forward with each new filing. “It’s definitely a whole lot easier,” says Kloess.
A Section 16 report that would take well over an hour to complete in the SEC system takes under 15 minutes with Wdesk Section 16. It's definitely a whole lot easier.
— Robin Kloess, financial professional, Heartland Express
Heartland’s team was excited to learn that the platform retains the company’s data, which improves consistency and accuracy between reports. The review and approval process is also easier since reports can be shared, edited, and validated online—anywhere, any time.
The Wdesk Section 16 Solution just keeps getting better says Strain. “Workiva is always looking to improve on what they have. They don’t rest with the status quo. And that’s where we have common ground because we strive to do the same thing.”