Workiva: Work Smart with Wdesk
With changing business dynamics, financial institutions are adopting technologies like cloud, mobility and analytics to ensure error-free financial forecast of an organization. However, enterprises are facing challenges in managing and securing financial data.
According to a 2016 IT Trend Study by the Society of Information Management, organizations identified that alignment between IT and the rest of the business and security is their primary issue in IT management. For hassle-free IT management, Workiva allows financial institutions to aggregate and analyze financial and non-financial data across the enterprise in a single, data-linked platform. It helps companies accurately forecast and evaluate an organization's financial progress.
Wdesk's simplicity saves a significant amount of time by streamlining the collection of financial and non-financial data. This ensures that customers invest their valuable time on data analysis, rather than aggregating data from spreadsheets, documents and reports floating through email, shared drives or outdated software. "Wdesk lets you establish connections between various pieces of data and portions of documents. When a change is made in one place it updates all the connected pieces instantly," says Matt Rizai, Chairman and CEO of Workiva.
The platform provides its customers with the ability to monitor every change made in the document or project. "Everything in Wdesk has a record, enabling management to have a full audit trail," said Rizai. The platform also fill process gaps and minimizes operational risk by connecting disparate data sources. "With Wdesk, teams no longer need to use multiple versions of reports floating around via email. With one version in a data-linked environment, they can trust their data," said Rizai.
For example, Ultimate Software was challenged with an outdated external reporting process. They needed a new way to develop and file reports, matching its dynamically developing technology and fast-moving culture. They switched to Wdesk for a cloud-based, streamlined U.S. Securities and Exchange Commission (SEC) reporting platform backed by personal customer service. With Wdesk, Ultimate Software eliminated four days from the report development process and provided collaborative review of the report.
Forging ahead, Workiva anticipates a growing demand for a wide variety of Wdesk use cases in 2016, including processes related to the Sarbanes-Oxley Act (SOX) and internal controls, as well as risk and audit management. "Wdesk is a next-generation platform for data integrity and control that helps improve productivity, transparency and accountability in business processes," said Rizai. "We want all of our users to start and end their day with Wdesk," concluded Rizai.
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