SEC Filing is in your control and fast
October 13, 2017

SEC Filing is in your control and fast

Anonymous | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Wdesk

We use Wdesk for SEC Reporting. It's used by Accounting and external legal.
  • Filing - So easy to make last minute changes minutes before filing and still file on time; you're in control.
  • Linking - rolling documents forward each quarter is so easy because you change dates and numbers in one place, and they change everywhere you have them linked to.
  • XBRL - we used to do it in-house and now we outsource it to Workiva. Their tool is easy to use and since outsourcing, it's been beyond easy for us!
  • Usability - it's gotten light years better over the years but each feature, whether word processing, spreadsheets, charts, graphs, etc., Microsoft products are more robust and have more offerings. There's always something you wish you could do in Wdesk, thinking, "I can do this in Excel, I want to be able to ___ in Wdesk too"
  • Importing odd SEC documents. It just doesn't work all that well and a lot of formatting needs to go into it to get it ready. Once you have your standards - 10-K, 10-Q, etc., in and formatted, you're good, but when you try to bring in one-time documents like a credit agreement, employment agreements, or an underwriting agreement, formatting is time consuming. The alternative is to file the entire thing as an image, which we sometimes do, because of this issue.
  • Keeping organized. You build up a lot of documents and filings, things filed together, things that were never filed, etc., and it's challenging to weed through sometimes, when searching for something after the fact.
  • We spend less than we used to with a traditional printer.
  • We have been able to do turn-on-a-dime equity offerings with last minute changes and still file on time.
  • Inviting external legal into the platform has helped with communication but we actually suspect they spend MORE time (and billing) on our documents than they used to just simply because it's so easy to get at them anytime they want.
Merrill. Just so much easier to file, so much time saved. But formatting new documents can be a real pain and is something Merrill would do for you (at a cost of course).
Great for SEC Reporting and anything where you use and reuse numbers in management reporting, etc.

Not easy to use when you like to include screenshots as evidence.

Workiva Feature Ratings

Common repository of GRC items
Not Rated
Risk management
Not Rated
Integration with Corporate Performance Management (CPM) systems
Not Rated
GRC policy management
Not Rated
Incident management
Not Rated