Workiva Sponsors Second Financial Data Summit
Conference to Help Federal Regulatory Agencies Modernize Data Management
Washington, DC - March 28, 2016 -Workiva (NYSE:WK), creator of the Wdesk cloud-based productivity platform for enterprises, is the presenting sponsor of the Second Annual Financial Data Summit: Data Standards Mean Business! here on March 29, at the JW Marriott.
The conference, hosted by the Data Coalition, is expected to draw more than 300 policymakers and others to focus on modernizing the data processes and formats used by financial regulatory agencies. The Data Coalition’s goal is to transform the agencies’ information from disconnected documents into digital, standardized data.
Summit speakers will include Congressional supporters of data transparency, along with leaders from financial regulatory agencies and the financial and technology private sectors.
“Financial regulatory agencies are moving from plain-text documents to open formats like XBRL and accepting interoperable data fields, such as the Legal Entity Identifier, across multiple reporting requirements,” said Hudson Hollister, Executive Director of the Data Coalition. “This enables better transparency for investors, data-driven analytics for investigators and cheaper compliance for the industry.”
“We strongly support the efforts of the Data Coalition to advance digital data standards,” said Matt Rizai, Chairman and CEO of Workiva. “The movement from static paper documents to dynamic data reporting is a big transformation. It will rely on sophisticated technology that can help change processes and, in turn, change the way people work.”
Summit participants will focus on the proposed Financial Transparency Act (H.R. 2477), which, if enacted, would require the eight major U.S. financial regulatory agencies to adopt consistent data fields and formats for the information they are required to collect under existing securities, commodities and banking laws. The Financial Data Summit will also focus on managing data within Federal agencies, using structured data to reduce expenses and upgrading reporting methods in advance of impending regulations.
Workiva (NYSE:WK) created Wdesk, a cloud-based productivity platform used by thousands of enterprises to collect, link, report and analyze business data with control and accountability. 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. For more information, visit workiva.com.
About the Data Coalition
The Data Coalition advocates on behalf of the private sector and the public interest for the publication of government information as standardized, open data. Open data enhances accountability, improves government management, reduces compliance costs, and stimulates innovation. For more information, visit datacoalition.org.
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