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Wdesk has become an indispensable tool for various teams within the company. The Financial Reporting team relies on Wdesk to file …
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What is Workiva?
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.
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What is Workiva?
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.
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What is Workiva?
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.
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Workiva Technical Details
| Operating Systems | Unspecified |
|---|---|
| Mobile Application | No |
Frequently Asked Questions
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.
Reviewers rate Integration with Corporate Performance Management (CPM) systems highest, with a score of 9.
The most common users of Workiva are from Enterprises (1,001+ employees).
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Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
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Wdesk has become an indispensable tool for various teams within the company. The Financial Reporting team relies on Wdesk to file important documents such as the company's 10-K and 10-Qs, while the Legal department uses it for filing Proxy Statements. Additionally, Internal Reporting finds Wdesk useful for filing quarterly press release 8Ks. The program's permissions feature allows for seamless collaboration and input from different departments on each document. As a result, users have expanded its use to involve other groups like Treasury and Legal for their unique filings. While its primary focus is SEC filings, Wdesk is slowly being incorporated into areas such as Certifications and SOX. Users have been utilizing Wdesk for over two years and greatly appreciate the product as a whole, as well as the company's commitment to excellence and transparency in customer service.
With Wdesk's secure cloud-based platform, capturing, preparing, and aggregating financial data from various sources has become effortless. Users have the ability to create and model reports and analyses tailored to their specific needs, all linked to the relevant data. This versatility makes Wdesk an ideal choice for Annual Reports and SEC filings. However, some users have encountered compatibility issues with Word and Excel 2007, as well as challenges related to syncing and file formats. To complement their workflow, certain users have integrated Microsoft Teams alongside Wdesk. The Global Financial Reporting Team relies on Wdesk to prepare essential documents like Earnings Releases, Form 10-Ks, Form 10-Qs, and IFRS financial statements. As other departments witness its potential in streamlining processes such as document control and consistent financial reporting, there is increasing encouragement for wider adoption of Wdesk throughout the organization. Notably, external auditors and legal counsel also utilize Wdesk to review filings and provide valuable feedback.
The benefits of using Wdesk extend beyond financial reporting alone; it also plays a pivotal role in the company's SOX program and serves as the go-to financial reporting tool. Users particularly appreciate Wdesk for its cloud-based functionality, real-time reporting capabilities, and ease of creating tables. By leveraging Wdesk, the financial reporting team has successfully reduced errors and improved productivity in updating financial statements, eliminating the need for manual processes and mitigating inconsistencies. This time-saving aspect is highly valued by users. Overall, Wdesk has proven to be a reliable solution that enhances collaboration, simplifies data management, and empowers teams to deliver accurate and timely financial reports.
Users have provided several recommendations for the software based on their experiences. The most common recommendations are as follows:
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Reach out to the company staff for assistance and demonstrations. Users have found it beneficial to contact the company's staff for help and demonstrations of the software. This allows them to better understand its functionalities and how it can meet their specific needs.
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Consider long-term contracts to avoid price increases. Some users suggest considering long-term contracts with the software provider in order to avoid potential price increases in the future. This may help organizations manage their budgets more effectively.
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Contact consultants for demonstrations and understanding capabilities. Users recommend reaching out to consultants who specialize in the software to get demonstrations and a better understanding of its capabilities. This can assist organizations in making informed decisions about whether the software aligns with their requirements.
These recommendations highlight the importance of seeking support from the software provider, considering long-term contracts, and consulting with experts to fully utilize the capabilities of the software.
Attribute Ratings
Reviews
(1-11 of 11)Companies can't remove reviews or game the system. Here's why
October 26, 2022
No more manual tie outs, saves a ton of time!
- Linking Numbers.
- Updating Numbers.
- User Interface.
- Tagging takes a while to get the hang of.
- Customer support feels light.
- Lag when switching between pages.
July 18, 2022
Review of Wdesk SOX Platform
- Wdesk is pretty user friendly and easy to learn.
- Service hotline is responsive.
- The software is not pricy.
- The automation could be better. A lot of mass updates are done manually.
- Sometimes the system has connection issues and certain functions are down.
- The customer service could be more proactive to provide regular training and sharing updates on the software.
- Customer service could be better to help process the mass updates in a timely fashion.
May 26, 2022
Avoid WORKIVA is not what they advertise
Score 2 out of 10
Vetted Review
Verified User
- have a structure to follow
- Involves the user on determined tasks
- Basic editing of documents WORD 2007
- Upgrade WORD and EXCEL 2007 to have same functionality of normall OFFICE 365
- Do not destroy the EXCEL files imported, deleting all PIVOTs and GRAPHS
- not available switch between UPPERCASE and lowercase
- not available Search and replace ALL
- not available redo format
- not available to do graphs in EXCEL
- not available elaborated FORMULAS, only very basic like sums
- not available DESKTOP version
- SYNC only works one way
- Exported WORD files are massive and version 2007
- not available PDF viewer
March 29, 2021
Best in-class for SEC reporting
- Integrated Financial Reporting (especially SEC reporting) for less manual work.
- Section 16 filings.
- SEC filings (preparing and filing SEC documents internally, instead of using a printer).
- Security and safeguarding sensitive non-public information.
- Continual product improvement and product investment.
- Better out-of-the-box templates for best-in-class reporting and other needs.
- Better organization of files within Wdesk.
- Better integration of SOX and SEC activities.
September 25, 2020
Data management isn't a big deal now.
- Project management
- Documentation
- Real-time tracking
- Effective & progressive reporting capablities
- Data stays relevant and easy to understand
- Limitations to spreadsheet formulas
- Basic design (User Interface)
- Works slow sometimes
- Lacks few creative options
- Excel formulas are limited to an extent
September 18, 2020
Wdesk is a great financial reporting and compliance solution.
- Incredible support from Workiva and always bringing news and improving the product through community feedback.
- I think the product is easy to use, has a friendly interface and we feel safe to use it.
- Quick business vision and improved decision making with the help of software with real-time reports.
- Exceptional support service, very fast and they help you with everything you need and are super helpful.
- The price is a little expensive.
- I don't see anything negative or against this software anymore.
September 18, 2020
Great tool if you have bandwidth for the implementation
- Formatting
- Universal updates
- Difficult to implement
- 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.
- The links to source data and XBRL tags cannot be maintained if you cut a section of one footnote and paste it into another footnote. This function does exist if you want to COPY and paste - but if you want to cut a section out of a footnote and paste it into a different one, you'll have to re-link the text to source data and re-add the XBRL tags.
- Once your links have been created in a footnote, you can't remove multiple links at the same time. So if you want to remove an entire paragraph that has already been linked and tagged from a footnote, you'll have to go into that paragraph and manually delete each link before you can delete the paragraph.
October 23, 2017
Wdesk is a must have software for all Financial Reporting Teams
- Customer Service
- User-Friendly
- Reliability
- Pricing
October 17, 2017
Wdesk - Harness the Power
- Data integrity, Using work books to source the same data into various sections of a document is the best feature of Wdesk. The excel like feel of a workbook only makes it even more simple in its use.
- Formatting the document to make it printer friendly is a cinch. The final printed product is very sleek and printer friendly.
- I use Data collection feature which lets other groups populate different sections of the document for which they have responsibility. For instance, the Treasury group fills out all debt related information. The Stock compensation related information is filled by the controller's group, etc.
- Customer Service is one of the best features of Wdesk. Support is right here in the USA and I always can count on my Customer Success Manager or in his absence, any other person, from their team, to provide solution when I am in a bind.
- While I have been using Data Collection for a few quarters now, I still find it a bit of a hit or miss in that templates don't seem to roll seamlessly. I always have some issues which seem to require an override of sorts.
- I have also been using the Support Binder feature and while it serves the purpose, I think it can be polished.
October 13, 2017
SEC Filing is in your control and fast
- 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.