Workiva Named One of the 2019 Best Workplaces in Technology by Great Place to Work and Fortune Magazine

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AMES, Iowa – January 17, 2019Workiva (NYSE:WK), the leading cloud provider of connected data, reporting and compliance solutions, was named one of the 2019 Best Workplaces in Technology by Great Place to Work® and Fortune Magazine.

To determine the Best Workplaces in Technology, Great Place to Work® analyzed responses from more than 220,000 employees in the technology industry at Great Place to Work-CertifiedTM organizations. Employees anonymously rated their employers on more than 60 surveyed criteria.

Workiva ranked 19 on the list of 25 large technology companies. This is the third time Workiva has been named to the Best Workplaces in Technology list.

“Workiva is proud to be in this prestigious group, which includes some of the most successful technology companies in the world,” said Marty Vanderploeg, Chief Executive Officer of Workiva. “We give our employees the freedom and resources they need, and together we are transforming an industry and improving the lives of our global customers, employees and investors.”

“Iowa’s technology community is proud to be represented on the world’s stage by Workiva,” said Brian Waller, President of the Technology Association of Iowa. “We see every day how much Workiva employees love the work they do, the challenging problems they get to solve and the opportunities they have to improve their communities.”

“For years, Workiva has been one of the biggest employers in Montana’s tech community, setting the standard for high-paying jobs with excellent benefits, a workplace culture employees love and exciting career opportunities with global impact,” said Christina Henderson, Executive Director of the Montana High Tech Business Alliance. “Workiva is also leading the effort in growing the number of women and people of color in our high-tech workforce. It comes as no surprise to see Workiva nationally recognized.”

“The companies featured on the 2019 Best Workplaces in Technology list offer dynamic, flexible and transparent workplaces,” said Michael C. Bush, CEO of Great Place to Work. “These companies create cultures that invite all employees to innovate, creating a competitive edge for their businesses and helping to realize the unique potential of each individual.”

The Best Workplaces in Technology list is one of a series of rankings by Great Place to Work and FORTUNE based on employee feedback from Great Place to Work-Certified™ organizations.

Read full press release here.

Workiva Releases Independent Study That Shows Wdesk ROI of 113 Percent

Real Estate Investment Trust Uses Wdesk to Reduce Financial Review and Reconciliation Process Time by 90 Percent

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AMES, Iowa–(BUSINESS WIRE)–Workiva (NYSE:WK), the leading cloud provider of connected data, reporting and compliance solutions, today released an independent study that documents how a publicly-traded, real estate investment trust (REIT) achieved a return on investment of 113 percent over three years by using its Wdesk cloud-based platform. Workiva commissioned Forrester Consulting to conduct “The Total Economic Impact™ of Workiva Wdesk” study in January 2019.

The REIT, which manages $15 billion in commercial real estate, uses Wdesk to streamline its financial reporting processes, thereby reducing costs and giving its financial reporting, accounting and marketing teams more time to focus on higher-value work.

Prior to Wdesk, the company compiled quarterly regulatory filings and investor relations documents from disparate sources using legacy, on-premise software. The manual process of setting up documents at the start of each review cycle was tedious and labor intensive, and the review and reconciliation processes were time consuming and prone to errors.

“Without a single source of truth, the financial reporting team had to check and recheck the numbers in every document, all while working against looming deadlines. This meant extended hours and late nights,” wrote Forrester.

Wdesk has modernized how the REIT manages and reports financial data.“In that final week of preparing our document we’re not figuring out what the right answer is – we’ve already determined that prior to the crunch time,” said the REIT’s Vice President of Financial Reporting. “We’re now focused on finalizing our tie-outs and addressing comments and not determining what data should be in our queue.”

Forrester reported that the REIT experienced the following benefits:

Financial reporting staff

  • Reduced time dedicated to reviewing and reconciling financial metrics by 90 percent
  • Improved accuracy in tie-outs by creating a single source of truth for financial data across department

Financial reporting contributors

  • Simplified contributor review process by removing inconsistencies in data across departments
  • Reduced hours spent reconciling discrepancies

Accounting team

  • Reduced time spent on developing impairments presentations by over 50 percent
  • Alleviated stress associated with each reporting cycle close
  • Reduced overtime hours previously needed to meet reporting deadlines

Marketing team

  • Reduced time required to create board books and five-year plans by 50 percent
  • Improved collaboration and accuracy by linking spreadsheets and source documents directly to Wdesk presentations so changes were reflected in real time

Forrester also reported that the REIT experienced the following immeasurable benefits:

  • Avoidance of reputational damage caused by errors in regulatory filings
  • Better work-life balance for finance and accounting teams
  • Lower printing costs associated with producing more accurate documents
  • More flexibility as teams now spend less time on administrative tasks related to review and reconciliation and more time on value-added tasks and processes that create efficiencies and improve insights

Workiva commissioned Forrester Consulting to evaluate the benefits of Wdesk to enterprises. In addition to interviewing several experienced Wdesk customers, Forrester’s research approach included gathering usage data and constructing a risk-adjusted financial model to measure benefits, costs, flexibility and risks. This is the fourth in a series of studies that Workiva has commissioned with Forrester.

The full study can be found here.

Read full press release here.

Wall Street Journal: Wall Street Firms Plan New Exchange to Challenge NYSE, Nasdaq

From WSJ.com:

Morgan Stanley, Fidelity and Citadel Securities among backers of new ‘Members Exchange’

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A launch would inject new competition into the heavily concentrated stock-exchange business. PHOTO: BRENDAN MCDERMID/REUTERS

A group of financial heavyweights including Morgan Stanley , Fidelity Investments and Citadel Securities LLC plans to launch a new low-cost stock exchange to challenge the New York Stock Exchange and Nasdaq Inc., the companies said.

The creation of the new venue, called Members Exchange or MEMX, comes after years of frustration among Wall Street brokers and traders with the fees charged by U.S. stock exchanges.

MEMX will be controlled by the nine banks, brokerages and high-frequency trading firms funding it, according to a news release.

Such an arrangement harks back to the era when exchanges were owned by their members, typically stockbrokers.

MEMX investors also include investment banks Bank of America Merrill Lynch and UBS Group AG, high-speed trader Virtu Financial Inc. and retail brokers Charles Schwab Corp. , E*Trade Financial Corp. and TD Ameritrade Holding Corp., according to the news release.

New York-based MEMX made its plans public on Monday. Representatives of the investor group said they would seek to apply for exchange status with the Securities and Exchange Commission early this year.

SEC approval for a new exchange is a drawn-out process that can take 12 months or longer, meaning it may be 2020 or later before MEMX is up and running.

A launch would inject new competition into the heavily concentrated stock-exchange business.

Today, all but one of the 13 active U.S. stock exchanges is owned by three corporations: NYSE parent Intercontinental Exchange Inc., known as ICE for short, Nasdaq and Cboe Global Markets Inc. Between them they handle more than three-fifths of U.S. equities trading volume.

Shares of ICE sank 3% on Monday, while the broader S&P 500 index rose 0.7%. Nasdaq and Cboe fell 2.6% and 1.8%, respectively.

Nasdaq spokesman Joe Christinat said his company welcomes competition. “However, with dozens of trading venues already in operation in the U.S., we’re keen to learn more about the value proposition,” he added.

Bryan Harkins, co-head of the markets division at Cboe, said in an emailed statement that “healthy competition ups the game for all of us and we welcome new entrants into the space.”

The NYSE welcomes “additional voices” in advocating for positive changes to U.S. equity market structure, a company spokeswoman said.

Despite its prominent backers, there is no guarantee that MEMX will succeed. New exchanges often struggle to attract trading activity away from established markets. IEX Group Inc., a startup that was founded in 2012 and now runs the only independent exchange not owned by the big three, handles 2.5% of U.S. equities trading volume.

The MEMX initiative shows that “market participants can no longer tolerate the abuses of power” of the exchange business, IEX Chief Executive Brad Katsuyama said in an emailed statement.

But brokers looking to save costs could be drawn to MEMX’s low fees. ICE, Nasdaq and Cboe have faced criticism for raising fees for services such as the data feeds that brokers use to monitor moves in stock prices. The three big exchange groups say their prices are fair.

Read the full, original WSJ.com article here.

Workiva and Broadridge Announce Strategic Alliance to Streamline Shareholder Communications

Technology Integration Links Broadridge’s Advanced Printing and Distribution Capabilities with Wdesk, the Leading SEC Filing Platform

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AMES, Iowa and NEW YORK – December 20, 2018 –– Broadridge Financial Solutions, Inc. (NYSE:BR), a $4 billion global Fintech leader and a leading provider of investor communications and technology-driven solutions, and Workiva (NYSE:WK), a leader in data collaboration, reporting and compliance solutions, today announced a strategic alliance to combine Broadridge’s conventional and next-generation digital delivery of regulatory and shareholder communications and distribution capabilities with the Workiva Wdesk cloud-based platform, which is the largest third-party filer with the U.S. Securities and Exchange Commission (SEC).

Workiva customers will soon be able to securely send SEC Forms 10-K and proxy statements directly to Broadridge for design, printing and distribution for required shareholder communications.

“Our alliance with Broadridge combines the power of our Wdesk platform with the world’s leading investor communications company,” said Marty Vanderploeg, CEO of Workiva. “Our partnership will help our customers improve security, save time and reduce risk in their SEC and shareholder reporting processes.”

“The strategic alliance with Workiva builds on Broadridge’s commitment to drive the next generation of regulatory communications and to provide corporate issuers with end-to-end integrated solutions ranging from SEC filings to shareholder communications to addressing corporate governance needs,” said Dorothy Flynn, President of Broadridge Corporate Issuer Solutions.

The integration will be available in the first quarter of 2019.

Read full press release here.

Workiva 2018: Year in Review

From the Workiva blog:

Thank you to our customers, employees, partners, and communities for yet another exciting year. From new solutions to a record number of hours saved, you made 2018 memorable.

Here is what you helped make happen this year:

  • Over 75 percent of Fortune 500® companies now use Workiva for reporting, compliance, and data management*
  • Finance and accounting teams began using Wdata to capture, connect, and prepare larger amounts of data for reporting and analysis in Wdesk
  • Compliance teams used our new internal audit management solution
  • Wdesk passed rigorous tests for protecting government data and earned the FedRAMP Authorization to Operate
  • More than 1,700 attendees shared ideas at our largest annual Workiva User Conference ever
  • People continue to leverage Workiva to get work done faster, easier, and with fewer mistakes, which resulted in a 95 percent customer satisfaction score

These are just a few highlights from an incredible year, and we look forward to accomplishing even more together in 2019!

*Claim not confirmed by FORTUNE or TIME INC. FORTUNE® and FORTUNE 500® are registered trademarks of Time Inc. and are used under license. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of, Workiva Inc.