Many organizations that use Office 365 are exposed to security risks that they are unaware of. As they extend SharePoint to meet their business needs, they build applications using technologies that range from end-user Microsoft Flow to developer-focused SharePoint Framework. Unfortunately, all of these custom applications are capable of circumventing the security measures organizations have in place exposing the organization and its data to security…
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Workiva
Score 8.6 out of 10
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Workiva is a cloud platform supporting ESG protecting, designed to provide collaboration, data integration, and an audit trail. The platform helps mitigate risk, and improves productivity.
For Microsoft shops that are doing custom development on the Microsoft cloud platform in Office 365 and Azure, the Rencore toolset is an absolute must, especially if you are involved in converting farm solutions to cloud, or just moving into cloud development for the first time.
Wdesk is best suited for companies with demanding SEC filings and documents, with multiple revisions due to auditor/counsel review, and where financial reporting is extremely manual. Wdesk really helps take out the potential errors out of extremely manual processes, and helps automate regular financial reporting by allowing companies to link financial information and build customized flows of their information into financial statements and other documents (such as presentations or other internal reporting).
Unique expert knowledge of their target platforms. Not many companies have such a unique position in their target market. Their employees have a deep understanding of SharePoint, Office 365 and Azure and also regularly advise Microsoft on these matters.
Community involvement and contribution to open source projects. Key employees at Rencore are considered thought leaders in their area of expertise and contribute to high profile Microsoft open source initiatives.
Rencore's unique position when it comes to code quality analysis in the SharePoint space sets it apart. There's really no alternative.
Platform governance is another Rencore strength. No other product provides the insights into your SharePoint Online environment with full auditing of not only configuration changes but also who changed which code where and when. Again no alternatives exist.
The biggest strength of the program for our team is that multiple users can work in the document at the same time. Multiple users can be in the program updating financial statements, footnotes, MD&A - all without stepping on each other's toes.
Rolling forward the documents from one period to the next is pretty simple. Links to source documents are maintained and new ones can be added without much hassle.
Edits and changes can be made right up until the last minute before filing. There is no waiting period or pencils-down period unless we enforce one ourselves - the Financial Reporting team is in control of the timing of our filings.
Rencore's product line is of course still a bit of a niche: SharePoint code quality is not something every organization on the planet is concerned with - although Rencore does much more than that.
We feel Rencore's marketing efforts are mainly targeted at technologists. There's a lot of other potential, especially for their platform governance product.
Overall it's a good-to-go product because of its features. It's easy to set up, meets requirements, has quality support, etc. So far, it has been working quite well for me, and I wish to continue using it for as long as it meets my requirements.
Workiva's technical support is impeccable and undoubtedly one of the best. The times we needed them, they were super quick and willing to help. It works 24 hours a day, and there will always be someone to help with doubts or technical problems regarding the tool.
I don't know of any products that compete in the space and if there were any, they would not stand a chance against Rencore. Behind any good product is a team of highly skilled individuals, who all have the same goal, who are passionate what they do and lastly, are in it for the betterment of where they started; As Developers themselves. You can't buy that
We moved from a third party filer to doing it in house. Have seen demos of products like Active Disclosure, which has come a long way from the beta version I saw and but we are not too far gone with Wdesk for us to evaluate other products. When we first signed up with Webfilings, (former name of Workiva), there were no viable products in the market. I had seen an Oracle product and a beta version of Active Disclosure. It was not hard to see the ease and intuitive-screens, to guide one through the filing process. The excel-like spreadsheets were an added bonus.
The clear impact was the amount of time saved code reviewing or going through lines of code marked off by other tools that are not relevant. We cannot put a number on it since the project started off with the tool in place but based on the rules applied it could be as high as 20% of the project time.
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.
