Overview
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.
Review of Wdesk SOX Platform
Avoid WORKIVA is not what they advertise
Best in-class for SEC reporting
Data management isn't a big deal now.
Wdesk is a great financial reporting and compliance solution.
Great tool if you have bandwidth for the implementation
Wdesk works well for collaboration on all of our company's filings
Wdesk is a must have software for all Financial Reporting Teams
Wdesk - Harness the Power
SEC Filing is in your control and fast
Popular Features
- Common repository of GRC items (5)8.080%
- Risk management (5)7.777%
- Incident management (5)7.070%
Pricing
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.
Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting / Integration Services
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Features
Governance, Risk & Compliance
The goal of IT governance is ultimately to ensure that the processes governing evaluation, selection, prioritization, and funding of competing IT investments are driven by the overall business
- 8Common repository of GRC items(5) Ratings
A common repository linking all GRC elements such as policies, risks, regulations, etc.) to give a 360 degree view
- 7.7Risk management(5) Ratings
Risk management capabilities including alert engine to warn of trending risk exposure and risk visualizations like heat maps, dashboards, etc.
- 9Integration with Corporate Performance Management (CPM) systems(3) Ratings
Ability to integrate with external CPM software
- 7.7GRC policy management(4) Ratings
Support for policy lifestyle changes including creation, approval, communication etc.
- 7Incident management(5) Ratings
System captures risk-related incidents, including cause and result
Product Details
- About
- Tech Details
- FAQs
What is Workiva?
Workiva Video
Workiva Technical Details
Operating Systems | Unspecified |
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Mobile Application | No |
Frequently Asked Questions
Comparisons
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Reviews and Ratings
(35)Attribute Ratings
Reviews
(1-11 of 11)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.
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.
Avoid WORKIVA is not what they advertise
- 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
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.
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
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.
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.
Wdesk is a must have software for all Financial Reporting Teams
- Customer Service
- User-Friendly
- Reliability
- Pricing
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.
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.
Not easy to use when you like to include screenshots as evidence.