Workiva Achieves FedRAMP Moderate: What It All Means

Investments in our cybersecurity infrastructure are paying off for Workiva platform users, as well as federal agencies looking to add our connected reporting and compliance solutions.

A year after receiving authorization to operate as a FedRAMP LI-SaaS provider, Workiva is announcing that we have achieved authorization to serve agencies at the Moderate-Impact Level under the Federal Risk and Authorization Management Program (FedRAMP). That means federal agencies can use the latest cloud technology from Workiva to perform their financial reporting and compliance functions, knowing we have met FedRAMP's strict cybersecurity requirements.

A commitment to serving government agencies

As federal agencies modernize financial reporting and integrate enterprise risk management under OMB A-123, Workiva is one of the few software companies for connected reporting that has achieved FedRAMP Moderate authority to operate (ATO).

Workiva also remains on the federal General Services Administration’s (GSA) IT Schedule 70 list, enabling federal agencies to access Workiva solutions for government in a more efficient, streamlined way.

More than 3,300 organizations, including 75% of the 500 largest U.S. corporations by total revenue, and over 150 government organizations already use Workiva solutions, and the number is growing.

Why organizations say yes to Workiva

Organizations inside and outside of government have invested heavily in enterprise resource planning (ERP) and financial data collection systems over the last several years. Now, they are investing in modern solutions for reporting that data—the part of the process with the greatest visibility and most risk.

Without a connected reporting or risk management solution, analysts typically download data from an ERP onto their individual desktops to be sliced and diced for numerous reports or versions. That could lead to some analysts using old information that was updated after they downloaded the data.

Contrast that with Workiva users in federal government who enjoy benefits, including improved:

1. Data assurance
   Workiva users can ensure data integrity and version control by working in a centralized platform that serves as a single source of truth. Anyone with the right permissions can access it for the most updated information. A linking feature allows users to tie data in reports, presentations, and spreadsheets directly back to the source. If the original data are altered before publication, then any drafts of reports citing that data are automatically updated across all linked instances.
2. Efficiency
   If an agency must create many cyclical financial reports, then it can roll forward updated numbers.
3. Collaboration
   Agency staff can simultaneously work together on reports and analyses housed in one location instead of sharing documents and comments via a string of emails. Multiple contributors can embed comments so everyone can track questions, responses, and resolutions.
4. Transparency
   Agency managers enjoy real-time visibility into the status of tasks via dashboards and can monitor a record of approvals. An audit trail and blackline function allow users to see at a glance what has changed.

What it means for you

The security of your data is paramount to Workiva. Our ongoing investment in cybersecurity serves not only users in federal government but also state and local government, higher education, and the commercial space.

For federal government users, the increased level of FedRAMP authorization for Workiva opens up our connected reporting, data, and compliance solutions to solve challenges in which the loss of confidentiality, integrity, or availability would harm operations, agency assets, or individuals.

“The Workiva platform has the potential to provide solutions for IT, security, compliance, and businesspeople across a variety of domains,” noted Jeff Bivens, Director of Technical Program Management at Workiva. “Really, we’ve only scratched the surface of applicable use cases.”

Dedicated managers are ready to support the agency ATO process for our growing portfolio of federal users.

Evolving rules for agencies and their IT vendors

Federal cybersecurity, data, and reporting policies continue to evolve, and Workiva is ready. Worried about fulfilling new OPEN Government Data Act requirements for machine-readable data? Workiva is a leader in developing technology for machine-readable tagging as the market leader in SEC reporting software. Looking for a proven solution for enterprise risk management for A-123 compliance? Both government and corporate customers are leveraging our platform to manage their internal controls and compliance programs.

As you search for cloud solutions that can serve you now and into the future, request a demo to see what Workiva can do.