Chartis Names Workiva a Category Leader in RiskTech Quadrant for Model Risk Governance
Workiva Also Recognized as Best of Breed Vendor in RiskTech Quadrants® for Audit Management, Enterprise GRC, IT Risk Management and Operational Risk Management
AMES, Iowa – May 3, 2017 – Workiva (NYSE:WK), a leading provider of solutions for enterprise productivity, announces today that Chartis Research, a London-based analyst firm, has named Workiva a Category Leader in its RiskTech Quadrant® for Model Risk Governance.
The quadrant appears in a new Chartis report entitled “Enterprise GRC Solutions 2017,” which also names Workiva as a Best of Breed vendor in its RiskTech Quadrants® for Audit Management, Enterprise GRC, IT Risk Management and Operational Risk Management.
“Business lines are having to take ownership for risk, and this has significant implications for technology, data and analytics,” writes Chartis in its 2017 RiskTech100®. “For organizations, the key enabler for success will be accessing the right information – trusted information – at the moment it’s needed.”
“Risk data is complex, variable and distributed throughout several departments within an organization,” said Matt Rizai, Chairman and CEO of Workiva. “Our Wdesk platform enables users to collaborate and link all of their data in a single platform, thereby making Wdesk a central repository for audit and risk management information.”
“Workiva’s offerings allow firms to operate with improved data transparency, giving users more trust in their data and making it easier for firms to use data from different areas of their business,” writes Sidhartha Dash, Research Director at Chartis Research. “Furthermore, by improving data transparency, and keeping a data lineage, Wdesk allows users to leverage their internal data for real-time decision-making purposes.”
Chartis’s Category Leaders “are risk technology vendors that have the necessary depth and breadth of functionality, technology and content, combined with the organizational characteristics to capture significant market share by volume and value.”
Chartis defines Best of Breed vendors as providers that “have best-in-class point solution capabilities with specific product or ‘go-to-market’ capabilities that give them a competitive advantage.”
The Chartis report highlights the following key features of Wdesk:
Data Collection - “...pre-built templates, allowing users to map their frameworks (both existing and newly created) to current frameworks and standards. Controls management for Sarbanes-Oxley is a particular strength for Wdesk, linking documentation and streamlining evidence collection and testing.”
Control - “The solution gives users full control of the whole disclosure management process, from data collection through to final filing of the documents.”
Tasking and Workflow - “Clients can use Wdesk to manage tasking and workflow, track approvals, conduct reviews and make documentation requests, and it includes integrated word processing, spreadsheet and presentation applications.”
Scalability - “Wdesk is cloud-based, and the solution scales well if users’ needs increase. Updates and new features are released on a weekly basis, and the delivery model reduces hardware demands for users.”
Audit Management - “Wdesk provides strong functionality for audit management, connecting and integrating information to map audit and incident information to policy, control, regulatory and risk documents. Audit reports and dashboards can be generated to demonstrate the validity and integrity of the user’s audit program, as well as risk management practices.”
Chartis analyzed 24 companies offering Enterprise GRC solutions based on completeness of offering and market potential. The Chartis RiskTech Quadrant® is a proprietary methodology developed specifically for the risk technology marketplace. It takes into account product and technology capabilities of vendors as well as their organizational capabilities.
The Chartis RiskTech Quadrant® 2017 Enterprise GRC Solutions: Five Key Categories report is available on the Workiva website at workiva.com/resources/risktech-quadrant-2017-key-categories-enterprise-grc-solutions
Chartis is the leading provider of research and analysis on the global market for risk technology and is part of Incisive Media which has market leading brands such as Risk and Waters Technology. Chartis’ goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.
Workiva (NYSE:WK) delivers Wdesk, an intuitive cloud platform that modernizes how people work within thousands of organizations, including over 70 percent of the FORTUNE 500®. Wdesk is built upon a data management engine, offering controlled collaboration, data integration, granular permissions and a full audit trail. Wdesk helps mitigate risk, improves productivity and gives users confidence in their data-driven decisions. Workiva employs more than 1,200 people with offices in 16 cities. The company is headquartered in Ames, Iowa.
Claim not confirmed by FORTUNE or Time Inc. FORTUNE 500® is a registered trademark of Time Inc. and is used under license. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of, Workiva Inc.
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