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Workiva

Score8.5 out of 10

45 Reviews and Ratings

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What is Workiva?

Workiva is a cloud platform supporting ESG protecting, designed to provide collaboration, data integration, and an audit trail. The platform helps mitigate risk, and improves productivity.

Categories & Use Cases

Key Features

Learn about the best (and worst!) features Workiva has to offer, as determined by TrustRadius' reviewers.
Based on 45 ratings of Workiva's features
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Top Performing Features

  • Integration with Corporate Performance Management (CPM) systems

    Ability to integrate with external CPM software

    Category average: 7

  • Common repository of GRC items

    A common repository linking all GRC elements such as policies, risks, regulations, etc.) to give a 360 degree view

    Category average: 7.8

  • Risk management

    Risk management capabilities including alert engine to warn of trending risk exposure and risk visualizations like heat maps, dashboards, etc.

    Category average: 7.4

Areas for Improvement

  • GRC policy management

    Support for policy lifestyle changes including creation, approval, communication etc.

    Category average: 7.7

  • Incident management

    System captures risk-related incidents, including cause and result

    Category average: 7.8

Reviews

What users are saying about Workiva.
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Avoid WORKIVA is not what they advertise

Antonio UmpireView profile
Group Manager Resource Estimation & Reporting in Corporate at Sibanye-Stillwater (10,001+ employees employees)

Use Cases and Deployment Scope

We used it for Annual Reports and SEC filing. we are a mining company Problems: word and excel version 2007 very limited, force to redo all waterfalls, graphs, tables, etc. SYNC is a problem, very limited, unresponsive software creates massive files, once exported the format gets destroyed in WORD, creating duplicated files, once imported an EXCEL file loses all graphs, 99% of formulas, and all graphs. as you sync and made edits, you end up with 2 versions of the file. WORST experience ever. Microsoft TEAMs is being by far WORKIVA

Pros

  • have a structure to follow
  • Involves the user on determined tasks
  • Basic editing of documents WORD 2007

Cons

  • Upgrade WORD and EXCEL 2007 to have same functionality of normall OFFICE 365
  • Do not destroy the EXCEL files imported, deleting all PIVOTs and GRAPHS
  • not available switch between UPPERCASE and lowercase
  • not available Search and replace ALL
  • not available redo format
  • not available to do graphs in EXCEL
  • not available elaborated FORMULAS, only very basic like sums
  • not available DESKTOP version
  • SYNC only works one way
  • Exported WORD files are massive and version 2007
  • not available PDF viewer

Most Important Features

  • compliance
  • hability to work faster, this is not happening
  • compatibility with OFFICE 365

Return on Investment

  • Work for longer hours
  • WDESK very slow and only basic tools
  • creates duplicates and not compatible with office 365

Wdesk is a great financial reporting and compliance solution.

Incentivized
Maria Luis RibeiroView profile
Engenheiro de software in Information Technology at Bradesco (10,001+ employees employees)

Pros

  • Incredible support from Workiva and always bringing news and improving the product through community feedback.
  • I think the product is easy to use, has a friendly interface and we feel safe to use it.
  • Quick business vision and improved decision making with the help of software with real-time reports.
  • Exceptional support service, very fast and they help you with everything you need and are super helpful.

Cons

  • The price is a little expensive.
  • I don't see anything negative or against this software anymore.

Return on Investment

  • The Wdesk tool improves risk reduction.
  • I believe that we have greater collaboration with more efficiency and automatic reporting.
  • The Wdesk tool improves user productivity and decision-making based on reports.

Usability

Other Software Used

Logitech MeetUp, KanbanFlow, Odoo

Review of Wdesk SOX Platform

Incentivized
Verified User
Employee in Finance and Accounting (1001-5000 employees employees)

Use Cases and Deployment Scope

We use Wdesk for our SOX program. The platform is also used as the financial reporting tool in my company.

Pros

  • Wdesk is pretty user friendly and easy to learn.
  • Service hotline is responsive.
  • The software is not pricy.

Cons

  • The automation could be better. A lot of mass updates are done manually.
  • Sometimes the system has connection issues and certain functions are down.
  • The customer service could be more proactive to provide regular training and sharing updates on the software.
  • Customer service could be better to help process the mass updates in a timely fashion.

Most Important Features

  • Certification module.
  • Testing module.
  • Remediation module.
  • Control listing and reporting.

Return on Investment

  • The ROI is good on overall business projections.
  • We raised efficiency for over 30% using the software.
  • The software saved 20% on budget of CPEs and trainings.

Alternatives Considered

AuditBoard

Other Software Used

AuditBoard

No more manual tie outs, saves a ton of time!

Incentivized
Verified User
Employee in Finance and Accounting (501-1000 employees employees)

Use Cases and Deployment Scope

Used Wdesk to create and update financial statements and other similar documents. It made it easier to update a single set of financials and have the numbers linked throughout the document, so an update in one area would lead to a refresh in all other areas the same tagged number was referenced. Previously, this would have been a very manual process, and things could have easily been missed leading to inconsistencies within the same document for the same number.

Pros

  • Linking Numbers.
  • Updating Numbers.
  • User Interface.

Cons

  • Tagging takes a while to get the hang of.
  • Customer support feels light.
  • Lag when switching between pages.

Most Important Features

  • Tagging
  • User Interface.
  • Ease of Use.

Return on Investment

  • Saved Time.
  • Allowed Team Members to Focus on More Analytical Activities.

Alternatives Considered

Microsoft Excel

Other Software Used

Microsoft Excel, Microsoft Teams, Dropbox

Wdesk works well for collaboration on all of our company's filings

Incentivized
Erin CrosslandView profile
Financial Reporting Lead in Finance and Accounting at The Mosaic Company (5001-10,000 employees employees)

Pros

  • The biggest strength of the program for our team is that multiple users can work in the document at the same time. Multiple users can be in the program updating financial statements, footnotes, MD&A - all without stepping on each other's toes.
  • Rolling forward the documents from one period to the next is pretty simple. Links to source documents are maintained and new ones can be added without much hassle.
  • Edits and changes can be made right up until the last minute before filing. There is no waiting period or pencils-down period unless we enforce one ourselves - the Financial Reporting team is in control of the timing of our filings.

Cons

  • The links to source data and XBRL tags cannot be maintained if you cut a section of one footnote and paste it into another footnote. This function does exist if you want to COPY and paste - but if you want to cut a section out of a footnote and paste it into a different one, you'll have to re-link the text to source data and re-add the XBRL tags.
  • Once your links have been created in a footnote, you can't remove multiple links at the same time. So if you want to remove an entire paragraph that has already been linked and tagged from a footnote, you'll have to go into that paragraph and manually delete each link before you can delete the paragraph.

Return on Investment

  • We're saving money by bringing the XBRL tagging function in-house instead of outsourcing that.
  • We're using the built-in access security features to automate as many of our internal controls as possible.

Alternatives Considered

Merrill Bridge

Other Software Used

Microsoft Dynamics AX, Skype for Business