Workiva is a document and data collaboration platform that helps teams work together to connect reports and data. It offers a unified Software as a Service (SaaS) platform, which combines financial reporting, audit management, and Environmental, Social and Governance (ESG) reporting, in a secure environment. The platform created by Workiva simplifies complex reporting and aids in streamlining processes, data synchronization, and team collaboration while maintaining consistency.
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Using Workiva is fairly intuitive and stands out for the following features: 1. Data linking: its robust data linking capability ensures consistency across reports by automatically updating connected figures and narratives, reducing manual errors and saving time. 2. Blacklining: the blackline functionality provides clear, audit-ready visibility of changes between versions, improving accuracy and accountability during review cycles. 3. Platform evolution: Workiva demonstrates a commitment to perpetual capability development and evolution, regularly introducing enhancements that increase functionality.
Good for audit management, Customer Service
I like the Workflow automation feature that allows me to automate tasks that can be carried out in the background with my supervision, this allows me to multitask and reduces manual labor for me and my team. I also love how Workiva can analyze and link relevant data across various documents, providing deep insight for comprehensive reports and audits. Lastly, i like how Workiva makes it easy to collaborate and share information with other departments in our workforce in real time, this promotes inclusivity and transparency across all departments.
While Workiva delivers strong functionality overall, there are some areas for improvement: 1. Export limitations: as Workiva operates its own proprietary productivity environment (rather than MS Office), some complex formatting can be lost when exporting to MS Office (e.g. Word, Excel). 2. Limited analytics: with the focus being on reporting and governance, some of the analytics and visualisation capabilities are not as strong as some of the BI tools. 3. Pricing and licensing flexibility: generally considered a premium solution, costs can be higher than alternatives with limited options for seasonal or fluctuating needs.
Everything is custom and there are very minimal off the shelf options.
I believe the platform delivers excellently on all its required tasks. I cannot think of any downsides to the platform, there is only room for more improvement.