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Workiva is a great tool!
What do you like best about the product?
Continual improvement and research to give the customer the best filing experience. I love the checks and balances when test filing and live filing to ensure acceptance by SEC. Gives me a certain kind of comfort that is much needed prior to pressing the file button!
What do you dislike about the product?
I would like the sync from an excel workbook (generally someone's tie out workbook) to be more intuitive.
What problems is the product solving and how is that benefiting you?
Efficient filings including review functions within the tool, online mark-up function which helps with tie-out and roll forward function which helps with preparation and review of disclosures and XBRL
Usable and helpful but could be better
What do you like best about the product?
I like being able to file in-house. It is very helpful.
What do you dislike about the product?
The word processing capabilities. They are very cumbersome and hard to use.
What problems is the product solving and how is that benefiting you?
Allowing us to file inhouse gives us more control and saves money
I enjoy workiva over other platforms used in the past
What do you like best about the product?
I like how user-friendly it is. And helps real-time feedback
What do you dislike about the product?
I dont like the markup view function. It isnt as userfriendly as it could be
What problems is the product solving and how is that benefiting you?
It is allowing for real time feedback
Recommendations to others considering the product:
Ask questions to the people on workiva they are helpful
Workiva Reporting Package Makes the SEC Cycle Much Easier
What do you like best about the product?
Workiva streamlines the preparation, review, and filing process into a single, simple package - highly recommend!
What do you dislike about the product?
Tool comes with its cost and add ons / additional services will also cost you.
What problems is the product solving and how is that benefiting you?
Financial reporting / SEC filing
Happy with the product
What do you like best about the product?
Ease of rolling the document and linking throughout has been key for internal consistency. Additionally, comments within the live document allow for us to work collaboratively at the same time.
What do you dislike about the product?
We had issues using workiva for 'more than' just our external reporting needs - we had to negotiate for additional use licenses and space that we were not happy with the process.
What problems is the product solving and how is that benefiting you?
Our biggest issue prior to workiva was the lack of internal consistency within our document - linking and building checks within workiva have made our turn process way quicker.
Recommendations to others considering the product:
Consider what all you'd be using it for prior to starting
Latency Outside of United States Makes Tool Unusable
What do you like best about the product?
It includes controls, issues and testing mangement.
What do you dislike about the product?
In countries outside the US, the tool is not efficient due to latency issues in the SOX module.
What problems is the product solving and how is that benefiting you?
SOX Management
Great Central Repository for SOX compliancy documentation
What do you like best about the product?
I use it mainly to review the SOX narratives and see the data flows from one system to another. I'm new at my current company, and it helps to have visibility into some of the published system diagrams.
What do you dislike about the product?
I can't think of anything in particular aside from the fact that it's slow to load when I'm going through the documentation. I don't think it's my connection; I think it's the bandwidth of the server location where the data is stored.
What problems is the product solving and how is that benefiting you?
I'm using it to pull some of the published system diagrams and use those as a basis to create more detailed Visio diagrams to link to some of our databases and data sources. I also used it to better understand the quote to cash process that I have responsibilities to prepare financial statements for the quarter close.
Workiva review
What do you like best about the product?
The ability to have all tests and documents together while also being able to make requests for control owners and have a dialogue with them real time regarding follow ups.
What do you dislike about the product?
There is sometimes a lag when our team is all using the system at the same time. There also seems to be a file size limit that hinders our teams ability to test in the instance
What problems is the product solving and how is that benefiting you?
Follow ups and client communications have become much easier to follow and track for real time reporting. More efficient work as we can use the predefined testing structures rather than creating from scratch
Recommendations to others considering the product:
If you want to save time and manpower on audits consider wdesk
Really good
What do you like best about the product?
This is helpful for auditors and gives great insight into testing populations
What do you dislike about the product?
There is a learning curve at first abd can be a bit more user friendly
What problems is the product solving and how is that benefiting you?
Testing full populations and having an automated process
Recommendations to others considering the product:
Go for it!
Sr External Reporting Analyst
What do you like best about the product?
Easy to use and learn. Linking cells to workbooks that can be rolled forward makes the updating process efficient and straightforward. The auto-save functionality ensures work is never lost. The ability to easily sort workpapers into folders makes it simple to find prior workpapers every year. Do not sleep on the ability to link your filings to a workbook. This helps the roll forward process tremendously. You can update the date in one spot and it will automatically populate an entire 10-Q or 10-K at the click of a button. You can have one main work book for your income statement that can update throughout an entire filing at once. The filing process within workiva is simple as well. The ability to do a test filing with the SEC prior to filing ensures that your file is clean and ready to be uploaded.
What do you dislike about the product?
I would like to see better clarification of how you can upload and link different workpapers. There is nothing to dislike within Workiva from a external reporting point of view. The software is easy to use and learn. Linking cells to workbooks that can be rolled forward makes the updating process efficient and straightforward. The auto-save functionality ensures work is never lost. The ability to easily sort workpapers into folders makes it simple to find prior workpapers every year. Do not sleep on the ability to link your filings to a workbook. This helps the roll forward process tremendously. You can update the date in one spot and it will automatically populate an entire 10-Q or 10-K at the click of a button. You can have one main work book for your income statement that can update throughout an entire filing at once. The filing process within workiva is simple as well. The ability to do a test filing with the SEC prior to filing ensures that your file is clean and ready to be uploaded.
What problems is the product solving and how is that benefiting you?
The upgrade to next-gen has made using Workiva and Wdesk even easier. Being able to have multiple accounts that can update filings simultaneously is a significant time-saver. Additionally, the auto-save function prevents the hassle of lost work. Being able to link cells to easy-to-use workbooks makes updating simple.
Recommendations to others considering the product:
I recommend that you ensure your work papers are already in a spreadsheet format. This will help you ensure that you can upload your files and easily link them to your filings.
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