SAP BW/4HANA is a next-generation
data warehouse solution. It is specifically designed to use the advanced
in-memory capabilities of the SAP HANA platform. For example, SAP BW/HANA can
integrate many different data sources to provide a single, logical view of all
the data. This could include data contained in SAP and non-SAP applications
running on-premise or in the cloud, and data lakes, such as those contained in
the Apache Hadoop open-source software framework. With SAP BW/4HANA,…
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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.
Some scenarios where SAP BW/4HANA is well suited are retail industry, supply chain, finance, warehouse, stocking processes, BI, [and] some finance analytics reporting. Some scenarios where SAP BW/4HANA is less appropriate [is when] relational queries are needed [and] in some small business with infrastructure limitations. Another scenario that is less appropriate is for ABAP processes requirements.
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).
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.
SAP BW/4HANA requires specialized skillsets around data warehouse modeling and the access to data, however the modeling capabilities are intuitive and have now become accessible to both SAP and non-SAP data warehouse specialists. This new model allows for Interchangeable skillsets and access to a broader pool of experts throughout the industry, as well as easier access to data.
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.
SAP Max Attention and general support for SAP BW/4HANA is broadly available. Truth to be told, MaxAttention has a premium cost but brings great engineers. So this being an enterprise capability and extremely critical, we did not consider cost as the main factor since support works well. Just keep that in mind when making your selection.
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.
SAP Analytics Cloud is complemented by SAP BW/4 HANA through connectors that work in real-time and allow the display of indicator information in interactive and user-friendly visualizations. SAP Data Services integrates with BW/4 HANA allowing to automate the loading of information in the system taking as a data source a wide variety of platforms.
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.
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.
