Item: Workiva
Rating: 8
Author: Verified User

Use Cases and Deployment Scope

Used to quickly update financial statements for our financial reporting team, reducing errors and improving productivity. It helps departments across the company reduce errors by allowing certain fields to be auto-updated throughout once the financial statements are updated. Previously, we used Microsoft Word, Excel, and PowerPoint and would end up spending hours manually fixing formatting when small updates were made to a write-up or table, but that all comes together much more quickly with Wdesk.

Pros and Cons

Formatting
Universal updates

Difficult to implement

Return on Investment

Improved productivity
Reduced busy work

Support Rating

I have not had to deal with the Support Team, but overall our experience with the tool has been positive. They try to set new customers up for success from the start (I was part of the sales process, not the actual onboarding) and seemed to know that it’s a difficult transition, but worth it in the long run.

Usability

Once implemented, it is a great tool that allows for improved efficiency, eliminating the need for having your accountants act as full-time format experts. We used to roll forward financial statements and quarterly reports manually from quarter to quarter, and if there were ever any changes that led to a text box going to the next page, it would take hours overtime just getting it back to normal, and Wdesk accounts for those changes and automatically adjusts for us.

Key Insights

Do you think Workiva delivers good value for the price?

Yes

Are you happy with Workiva's feature set?

Yes

Did Workiva live up to sales and marketing promises?

Yes

Did implementation of Workiva go as expected?

Yes

Would you buy Workiva again?

Yes

Other Software Used

Wrike

Likelihood to Recommend

It’s an excellent tool, reducing your need to spend hours reformatting financial statements or carrying through changes quarter over quarter. If you’re going to purchase, it does require a full-time implementation team but is well worth it in the long run. It can also be used across teams for those that depend on financial statement information to populate presentations or other documents (for example, offering memorandums).

Great tool if you have bandwidth for the implementation

Overall Satisfaction with Wdesk