Matt Rizai, CEOWith 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 Trends 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.
Headquartered in Ames, IA, the company offers Wdesk, a cloud-based productivity platform for collecting, linking, reporting, and analyzing business data across the enterprise. 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rather than aggregating data from spreadsheets, documents, and reports floating through email, shared drives, or outdated software.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, Workiva. The platform provides its customers with the ability to monitor every change made in the documents or project. “Everything in Wdesk has a record, enabling management to have a full audit trail,” says Rizai. The platform also fills 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,” says Rizai.
Every business needs an integrated environment for smooth workflow.
Wdesk helps corporate finance teams work smart
In a financial institution, the integrity of the data provided by Wdesk across each workbook, document, and presentation helps line-of-business managers to spend time on analysis and enhance decision-making. It also enables them to combine financial and non-financial data to deliver business insights while synchronizing departments and business units. “Wdesk helps corporate finance teams work smart,” says 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.
Workiva has transformed enterprise reporting for its customers across various industries with its client-centric approach. Being a basketball enthusiast, Rizai believes in team-building strategies to foster a collaborative working environment. “To be successful, you have to build a team of talented and dedicated people who share your vision for innovation and customer success,” says Rizai.
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,” says Rizai. “We want all of our users to start and end their day with Wdesk,” concludes Rizai.