The team was unable to automatically roll forward its N-4/N-6 reports from year to year—requiring significant time spent locating and updating information.
Making changes was a chore since each individual file would need to be updated manually.
Each time the team needed to change a document late in the process, the document had to be sent to the printer to EDGARize, which became very costly.
Collaborating on statements was a struggle for the team members. They found themselves overwriting each other when trying to use a shared server and wasting time searching for updated information when working on different computers. Moreover, there was no audit trail to show who made what change.
The team was required to collect data from multiple departments, and tracking what information had been submitted and what was missing was difficult.
Being partnered with a printer meant the company was required to meet the printer's deadlines and were unable to set its own.
There was no way to manage the common language across all documents throughout the process.
Reviewing the files took a long time because the word processing document needed to be compared to the EDGAR document side by side.
Accurate data in every file
With access to a full audit history, the team can see when changes are made to a document, who made them, and what the previous revision said.
Instead of checking every email and saved copy of reports to find edits, employees feel assured that their files all contain the same information after a correction is made on a source document.
Rolling forward from year to year is simple with Wdesk.
Managing common language across documents is no longer an issue because information is linked.
It's easier to manage the project and view progress being made when documents are accessible to whole teams and individuals.
Since the team no longer partners with a printer, it sets its own deadlines and controls the entire process.
Because documents are linked, employees no longer waste time making data corrections in individual report files. All deadlines are met.
The filing documents now stay in Wdesk, which helps the team maintain full control over the reporting process.