Workiva Helps California State Lottery Streamline Budgeting and Financial Reporting
Wdesk Gives State Agency More Time for Analysis and Insight
AMES, Iowa - October 24, 2017 - Workiva (NYSE:WK), a leading provider of solutions for enterprise productivity, announces that the California State Lottery is using Wdesk to modernize its budgeting and financial reporting processes.
The California Lottery – which contributes more than $1 billion in annual funding to the state’s public schools and colleges – uses Wdesk to create its annual budget and Comprehensive Annual Financial Report (CAFR) in compliance with the Governmental Accounting Standards Board’s requirements.
“The California State Lottery is a leader in embracing technology to streamline how it budgets and reports complex financial data to state officials, regulators and the public,” said Matt Rizai, Chairman and CEO of Workiva. “By adopting our Wdesk platform, the Lottery’s finance teams now have more time for analysis and insight, which helps them make data-driven decisions.”
With Wdesk, the California Lottery’s finance team is able to link their data in a single, trusted source and create integrated reports with a full audit trail. Administrators can control access at all levels so users can create, edit and review data and documents that relate directly to them. This secure access feature is especially useful for reviewing and approving budgets as well as for CAFR external audit reviews.
Wdesk also gives the Lottery’s finance team a platform for controlled collaboration, which is becoming more important as teamwork-oriented Millennials populate the nation’s workforce.
“All companies and government agencies are adjusting to the work styles of a technology-savvy generation,” said Rizai. “Wdesk sets up organizations like the California Lottery for future success.”
About the California Lottery
The California Lottery is a $6 billion enterprise based in Sacramento. It is one of the few state agencies that is a revenue generator, not accepting taxpayer dollars from the State’s General Fund. Its mission is to provide supplemental funding to California schools while simultaneously supporting local communities. In fiscal year 2016-17, the Lottery created 83 new millionaires. Ninety-five cents of every dollar spent by our players goes back to local communities in the form of contributions.
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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