Workiva Helps Hi-Crush Partners LP Simplify Internal Controls and SOX
Premium Sand Company Reports Immediate ROI with Wdesk
Ames, IA – January 24, 2017 – Workiva (NYSE:WK), a leading provider of enterprise cloud solutions for improving productivity, accountability and insight in business data, announces that Hi-Crush Partners LP (NYSE:HCLP) is using Wdesk to save time and money when managing its assessment of internal controls over financial reporting required by the Sarbanes-Oxley Act (SOX).
Hi-Crush, a premium sand producer and distributor, adopted Wdesk for documenting internal controls over financial reporting after hiring Mary Blake, the company’s lead financial reporting analyst. Blake was using Wdesk at her previous employer, and Hi-Crush valued her knowledge and skills.
“On my first day at Hi-Crush, I implemented certifications using Wdesk,” said Blake. Soon thereafter, she began implementing Wdesk for the documentation requirements of SOX based on her experience with Wdesk SEC support binders.
By placing their SOX testing in Wdesk, Blake was able to grant digital access to their external auditors, which streamlined the review process. “The fact that we are able to attach supporting evidence directly to the documents from the one-stop shop is such a convenience,” she said. “We are not a revenue-generating department, so we try to reduce costs, and Workiva has helped us do that by cutting the billable hours of third parties in half. This kind of cost reduction makes our CFO very happy.”
With Wdesk, Blake recently filed a Form 10-Q with the SEC two weeks early to accommodate an unexpected project. “I'm able to finish way ahead of my deadlines, which gives me time to focus on other important projects," said Blake.
“I love that I can link numbers throughout my Wdesk documents, so that any change is automatically updated where ever that number appears, in both spreadsheets and text,” said Blake. “The old-school way of footing and refooting and checking and rechecking numbers dozens of times before filing is gone. With Wdesk, I just run a black line to see what changed.”
“Wdesk gives me the comfort to know my information is accurate,” added Blake. “I love how Wdesk makes things so much easier. I want to use Wdesk for all of my tasks and processes.”
Workiva (NYSE:WK) created Wdesk, a cloud-based productivity platform for enterprises to collect, link, report and analyze business data with control and accountability. Thousands of organizations, including over 70 percent of the Fortune 500®, use Wdesk. The platform’s proprietary word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail. Wdesk helps mitigate enterprise risk, improve productivity and give users confidence to make decisions with real-time data. 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.
About Hi-Crush Partners LP
Hi-Crush is an integrated producer, transporter, marketer and distributor of high-quality monocrystalline sand, a specialized mineral that is used as a proppant to enhance the recovery rates of hydrocarbons from oil and natural gas wells. Our reserves, which are located in Wisconsin, consist of "Northern White" sand, a resource that exists predominately in Wisconsin and limited portions of the upper Midwest region of the United States. Hi-Crush owns and operates the largest distribution network in the Marcellus and Utica shales, and has distribution capabilities throughout North America. For more information, visit http://www.hicrush.com/.
For the latest information and news, visit The Workiva Newsroom.