Workiva Helps 2U Customize SOX and Internal Controls Processes
Education Technology Company Saves Time, Improves Collaboration with Wdesk
AMES, Iowa - June 21, 2017 -Workiva (NYSE:WK), a leading provider of solutions for enterprise productivity, announces that 2U Inc. uses Wdesk to streamline internal controls over financial reporting as required by the Sarbanes Oxley Act (SOX).
“When 2U went public, we had to turn a lot of previously informal processes into formal processes very quickly,” said Rex Roberts, Senior Director of Business Process and Controls at the Landover, MD, company. “It was a big culture change, and Wdesk helped us make that change.”
2U Inc. (NASDAQ:TWOU) is an education technology company that partners with top colleges and universities to bring their degree programs and courses online.
Roberts said he considered other software but ultimately chose Wdesk because it offered what others did not – a transparent and flexible platform that he could customize to meet the specific needs of 2U as it grew quickly. “Wdesk allows us to do things our way, instead of the more generic solutions offered by other software platforms,” Roberts said.
Roberts and his team use Wdesk to manage, monitor and test internal controls for SOX compliance. With Wdesk, they are able to link their SOX risk-control matrix, process narratives and flowcharts and create a streamlined workflow for team members and approvers directly in their documents and reports.
“Evidence collection in Wdesk is beautiful, and data linking has saved us so much time,” said Roberts. “My team doesn’t have to go back to four or five places and make the same change. Wdesk has created a much more collaborative environment within my team. Everything is in one place and is transparent to us and our auditors.”
Ramping up a SOX process quickly and from scratch was a daunting task, but Roberts credited Wdesk’s implementation team and responsive customer success manager (CSM) with easing that transition. “My CSM has always been available to answer our questions about the best, most efficient way to do things in Wdesk. This has saved us time and money; it’s one of the best things about Wdesk,” he said.
“With Wdesk, I’ve got a tool I can make my own, set up my processes exactly the way I want them and be able to present the results in a way I choose,” Roberts said. “That’s what any company wants.”
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.
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About 2U, Inc.
2U Inc. (NASDAQ: TWOU) partners with leading colleges and universities to deliver the world's best online degree programs so students everywhere can reach their full potential. 2U’s cloud-based software-as-a-service platform provides schools with the comprehensive operating infrastructure they need to attract, enroll, educate, support and graduate students globally. Blending live face-to-face classes, dynamic course content and real-world learning experiences, 2U's No Back Row™ approach ensures that every qualified student can experience the highest quality university education for the most successful outcome. Learn more at 2U.com.
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