The Total Economic Impact™ Of Workiva
Workiva Platform Delivered 204% ROI
Highlights from the TEI study.
Forrester Consulting conducted a Total Economic Impact™ (TEI) study to examine potential return on investment (ROI) of deploying the Workiva platform for financial reporting, ESG reporting, and audit and risk management.*
$2.9 million in cost savings
Using the Workiva platform eliminated the number of redundant controls tested and saved 12 hours of testing per control each year.
3,600 hours saved annually
Time spent on a single audit went from 200 hours to 120 hours in the first year—a savings of 40%.
65% reduction in time to produce ESG reports
Total hours to produce an ESG report went from 700 hours to less than half that by year 3.
Payback in <6 months
Workiva customers saw net benefits equal initial investment in just two quarters.
*Through five representative interviews and data aggregation, Forrester concluded that the three-year financial impact of Workiva included the above.
Assured, integrated reporting in a single platform.
In this TEI study, Forrester Consulting interviewed five Workiva customers across industries and geographies. The customers collectively use Workiva across different reporting and governance, risk, and compliance (GRC) functions, which Forrester Consulting used to create a composite organization.
The results: data integrations, automations, and other efficiencies that helped realize a 204% ROI and net present value (NPV) of $2.88 million.