WebFilings announced more than 2,000 corporate customers including over 60% of the Fortune 500
Demand for enterprise cloud platform driven by growing challenges in complex business reporting
AMES, IA – April 23, 2014 – WebFilings, a leading cloud-based provider of business reporting solutions, announced today that more than 2,000 corporate customers, including over 60 percent of Fortune 500 – and 60 percent of Fortune 100 companies – now use its Wdesk product platform.
WebFilings began with a cloud application to automate SEC reporting but has evolved Wdesk into a robust platform for creating and managing a wide range of complex business reports. With Wdesk, companies can efficiently leverage their business data, regardless of where it resides, and ensure it is always accurate and up to date.
"Prior to Wdesk, our reporting process was more complex and involved dealing with multiple third- parties," said Mark Garrett, executive vice president and CFO of Adobe. "With Wdesk, the power and control of our business data is in our hands. It makes it easy for my team to collaborate – saving time and improving accuracy – which makes a big difference in our work."
Wdesk is a secure online workspace where teams can co-author documents and reports without having to go to IT for assistance. Innovative data-linking technology ensures that Wdesk documents, spreadsheets and presentations are always synchronized. When numbers or text change, the corresponding uses of those data across hundreds or thousands of pages are automatically updated in real time. Wdesk can handle hundreds of people changing data at the same time and will always produce correct results.
Wdesk users control their critical business data from their desktops by collecting it from a variety of formats and organically linking it in the cloud to any source required. A full Wdesk audit trail provides users the accountability and confidence they need.
"The fabric of corporate decision making and reporting is changing as regulations become more complex and deadlines shrink," said Matt Rizai, CEO of WebFilings. "Wdesk simplifies otherwise difficult reporting processes, from beginning to end."
"We are expanding the use of Wdesk across several other departments because of how it automates and aggregates our information in an easy-to-use platform," said Rebecca Bosworth, manager of external reporting, Energizer Holdings, Inc. "It's like one-stop shopping."
With Wdesk, it only takes a few hours for companies to start streamlining business data collection and reporting. Once Wdesk is in place it transforms the way financial management, risk, compliance and sustainability reports are created, reviewed and published.
"Wdesk helps companies keep pace with the demands for speed and accuracy in business data and financial information," added Rizai. "Complex business reporting has never been easier."
Wdesk was created by WebFilings, a software-as-a-service (SaaS) company founded in 2008 by software and business veterans. WebFilings released its initial cloud-based reporting solution in March 2010 to simplify how companies collect data and prepare complex business reports for the SEC. In just four years, WebFilings became a market leader by filing more quarterly and annual reports with the SEC than any other third-party provider. The Wdesk product platform was released in March 2013 and provides collaborative solutions for compliance, risk, management, and sustainability reporting. WebFilings employs more than 800 people with offices in 12 U.S. and 3 non-U.S. cities. The company's headquarters campus is in Ames, Iowa.
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