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Increase financial reporting efficiency with Workiva's customizable features.
What do you like best about the product?
The most valuable aspect of Workiva is that it has features that are easily customizable and very helpful in increasing the efficiency of our financial reporting. This is because it is possible to link the data from the various sources to ensure that there is harmonization in all the reports that we produce. Another advantage of the roll-forward option is that it helps to transfer data from previous reports hence reducing inputting. Integrated communication is possible by adding comments directly on the platform, thus increasing the chances of efficient communication and problem solving.
What do you dislike about the product?
There is a delay in the program’s response when entering text fields, especially large ones, or when pasting images in Workiva. It can sometimes be slow in its response to commands, particularly when typing like in Word or Excel during rush hours, which is quite frustrating.
What problems is the product solving and how is that benefiting you?
Workiva assists in the accomplishment of the tasks associated with compilation and tracking of financial data from multiple sources.
SOX Auditor
What do you like best about the product?
It is easy to use for everyday activities. Also, the customer service team is very helpful.
What do you dislike about the product?
There could be a chat option to chat with customer service.
What problems is the product solving and how is that benefiting you?
Reviewing audit controls. Sending audit requests and providing updates to audit managers.
Workiva for Financial Reporting
What do you like best about the product?
1. Ease of use
2. Number of features
3. Integration between workspaces
4. Customer Support
2. Number of features
3. Integration between workspaces
4. Customer Support
What do you dislike about the product?
1. The spreadsheet is not as good as excel.
What problems is the product solving and how is that benefiting you?
The seemless quarterly rollforward including linking and other useful features that's helping with time management.
Easy filing
What do you like best about the product?
Many users may be in application at one time.
Linking helps keep errors under control
Linking helps keep errors under control
What do you dislike about the product?
Help in using features is not directly connected.
What problems is the product solving and how is that benefiting you?
Easy to roll current filing into the next
Satisfactory Services from Workiva
What do you like best about the product?
My experience with Workiva is excellent. 24*7 assistance and readiness to help makes life easy.
What do you dislike about the product?
There is nothing I dislike about Workiva
What problems is the product solving and how is that benefiting you?
Using workiva for SEC reporting, and Workiva is providing XBRL tagging facilities.
Making financial statement preparation seamless
What do you like best about the product?
I've worked with Workiva very frequently for a long time now, and it has made preparing financial statements a breeze. I really like its linking features between the Excel and Word files, its ease of use and implementation, and how easily it is to upload external workpapers into Workiva as well as download existing Workiva files locally. Workiva is easy to pick up and use - I only need to do one or two trainings with my team in order for everyone else to also be able to pick it up. I also appreciate the folks at Workiva being readily available to hop on a call to troubleshoot things with us if we have any questions.
What do you dislike about the product?
1) It can be hard to get real help in the Live Chat or call function—emails to the relationship managers seem to be the best bet for customer support.
2) Workiva is sometimes pretty slow, though I understand the complexity of integrating Excel and Word.
3) The XBRL linking can be very confusing - I often don't understand what the errors mean in the validation work.
4) I wish Workiva had a tie-out / footing for when numbers are rounded. Sometimes after displaying in thousands (or higher, like millions), the numbers don't tend to foot or tie out.
2) Workiva is sometimes pretty slow, though I understand the complexity of integrating Excel and Word.
3) The XBRL linking can be very confusing - I often don't understand what the errors mean in the validation work.
4) I wish Workiva had a tie-out / footing for when numbers are rounded. Sometimes after displaying in thousands (or higher, like millions), the numbers don't tend to foot or tie out.
What problems is the product solving and how is that benefiting you?
Workiva solves the problem of bridging the behind-the-scene working in Excel form to the Word-form financial statements that are to be presented to financial statement users. Additionally, it solves the problem of knowing how to publish filing to the SEC site and the associated quirks (XBRL, etc.). I only get to use Workiva on some of my clients, and so I miss Workiva every time I don't get to use it.
Helpful partners and tool
What do you like best about the product?
Great collaboration tool and integrating multiple source system.
What do you dislike about the product?
Workiva's reliance on external vendors like Deloitte for integrations and routine maintenance
What problems is the product solving and how is that benefiting you?
Creating an "audit ready" reporting and data collection process.
Workiva as an audit collaboration tool
What do you like best about the product?
The status of the audit process can be easily known.
Helps corroboration and team collaboration.
Markups and test forms provide additional information.
Reviewer's can leave comments and feedback.
Helps corroboration and team collaboration.
Markups and test forms provide additional information.
Reviewer's can leave comments and feedback.
What do you dislike about the product?
If the status of all the workpapers is shown as a pie diagram, it can be helpful. (Eg :1/3 pie not started, 1/3 in progress, 1/3 completed)
The progress bar of not started, in progress, in review, complete as a horizontal bar can help assess the work done.
Search bar is only equipped to search by the title of the workpaper/contrlol. If that can accomodate additional search parameters, such as search by control description, it'll be greatly helpful.
Sometimes, it is difficult to get to the workpaper I want to open. The filters and sorting are user-unfriendly.
The progress bar of not started, in progress, in review, complete as a horizontal bar can help assess the work done.
Search bar is only equipped to search by the title of the workpaper/contrlol. If that can accomodate additional search parameters, such as search by control description, it'll be greatly helpful.
Sometimes, it is difficult to get to the workpaper I want to open. The filters and sorting are user-unfriendly.
What problems is the product solving and how is that benefiting you?
Workiva is a very extensive collaboration platform and storage cneter.
Filing Convenience
What do you like best about the product?
The 24/7 help services are truly unmatched!
What do you dislike about the product?
The XBRL errors can be finicky. For instance, there is an error message for filing dates after the current date, so this error will show until the day before filing.
What problems is the product solving and how is that benefiting you?
Workvia is an efficient platform for linking to multiple external documents and helps with file organization and task management.
Seroiusly the greatest!
What do you like best about the product?
It is so user friendly! I am not a systems person at all, but it took me no time to learn it! They have great quick cards and self help videos that are easy to use and learn. Their customer service is amazing! It seems they are constantly working on updates that have positive impacts to the work I'm doing. I use it all the time for everything ESG!I tell everyone about it!
What do you dislike about the product?
There's nothing that I dislike, although I have made a few requests for enhancements. Things like visibility for data approvers to see what tasks are outstanding from their data providers. In the current iteration, they can only see tasks that have been sent for approval. I also would love to see the certification become one within the task function and not separately.
What problems is the product solving and how is that benefiting you?
Our ESG processes have been revolutionized and we could not be happier! We have built out our greenhouse gas data collection, our sustainability reporting - metrics and content writing, water inventory, CBAM regulatory reporting, and working on CSRD.
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