Private Company Financial Reporting Product Tour and Upcoming Webinar

Private Financial Reporting Process Optimization: One Team’s Story

As regulations change and internal resources shrink, how do private companies surmount financial reporting challenges?

Hosted by Joe Howell, Vice President of Workiva, this webinar takes a deep dive into resolving common reporting problems faced by private companies. Learn how Ed Morrell, Vice President of Financial Reporting at Shopoff Realty Investments, helped improve financial reporting despite a dynamic financial and business reporting environment.

Date:

Thursday, June 21, 2018
2:00-3:00 p.m. ET

After this webinar, attendees will be able to:

Discuss the challenges influencing private company financial reporting
Establish organizational best practices to improve financial reporting
Evaluate options for new tools to save time and reduce organizational risk
One CPE credit offered, compliments of Workiva.

Questions? Email events@workiva.com. To attend this live webinar, please click here.

CNBC.com: Cloud stocks are on a tear as Microsoft and Salesforce show they’re willing to spend — here’s why

Salesforce Image

From CNBC.com:

  • Microsoft’s acquisition of GitHub and Salesforce’s purchase of MuleSoft are contributing to rising prices and multiples.
  • President Trump’s tax cuts are giving businesses more money to spend on new software and acquisitions.
  • Cloud software companies are putting up big numbers in earnings reports.

Cloud stocks are flying in 2018.

Microsoft’s $7.5 billion acquisition of GitHub this week only speaks to a bigger theme. From Okta and Twilio, which have more than doubled this year, to Zuora, DocuSign, Smartsheet and Zscaler, which have soared since their recent public market debuts, tech investors are pouring money into emerging software developers at an unprecedented rate.

It’s a shift from the last couple years when so much of the investor capital that flowed into tech was concentrated in the mega-cap names: Apple, Amazon, Microsoft, Alphabet and Facebook.

More than 25 software-as-a-service companies (valued at over $1 billion), including Salesforce, Zendesk, New Relic, Atlassian and ServiceNow, are up at least 40 percent this year, well ahead of the S&P 500 Technology Index’s 14 percent gain.

Multiples are rapidly increasing as well, suggesting that investors are getting more bullish on the sustainability of the business models. The 50 companies in the Bessemer Venture Partners Cloud Index now trade for an average of 7.8 times revenue over the next 12 months, up 27 percent from a forward sales multiple of 6.1 at the beginning of the year. The BVP index uses enterprise value to revenue.

Not included in the index are Microsoft and Adobe, which have also experienced extended rallies and are trading near record highs after pushing their businesses from desktop software to the cloud. Even Cisco made a giant bet on cloud early last year, purchasing AppDynamics for $3.7 billion just as the application monitoring company was about to go public.

Here’s why so much money is flying into cloud companies.

Subscriptions: The high-level trend that’s exciting Wall Street is subscriptions. Unlike the old days of software, when big vendors like Oracle and SAP would charge millions of dollars for multi-year contracts upfront and then tack on maintenance fees, this new generation of companies sell cloud-based services, generating some money initially but getting much more over time as customers renew their deals and demand more features.

“When you buy cloud or subscription software from a vendor, you can buy exactly how much you want: per person, per-employee, pay as you go,” said Richard Davis, an analyst covering enterprise software at Canaccord Genuity. “It is a good business model and demand is strong, because everyone wants to buy software to make their companies efficient.”

Read full, original CNBC.com article here.

Workiva Plans More Than 75 Sessions for Annual User Conference

Workiva User Conference 2018

Topics Include Wdesk Platform Enhancements, New Wdata Capabilities, Expanded Partnerships and Regulatory Changes

AMES, Iowa – June 12, 2018 – Workiva (NYSE:WK), a leader in data collaboration, reporting and compliance solutions, today announces that more than 75 different sessions will be offered at its seventh annual Workiva User Conference to be held September 19-21, 2018 at the Gaylord Opryland Resort and Convention Center in Nashville, Tennessee.

The Workiva User Conference brings together customers and industry leaders for three days of training, networking and professional development.

The Workiva User Conference will include:

About the Workiva User Conference

The Workiva User Conference brings together over 1,700 accounting, finance, and compliance professionals, industry thought leaders, and Workiva experts. The conference provides the opportunity for training and professional development, continuing education credit, sharing best practices, and networking with peers.

Read full press release here.

Pensions & Investments: SEC should revisit stock buyback limits, commissioner says

From pionline.com: Corporate stock buybacks benefiting executives are growing to the point where the Securities and Exchange Commission should protect investors by revisiting outdated rules governing them, Commissioner Robert Jackson Jr. said Monday at a Center for American Progress event in Washington.

“It is troubling because it is yet another piece of evidence that executives are spending more time on short-term stock trading than long-term value creation.”

– Robert Jackson Jr., SEC Commissioner

In the first quarter of 2018 alone, American corporations bought back a record $178 billion in stock. “Because we at the SEC have not reviewed our rules governing stock buybacks in over a decade, I worry whether these rules can protect investors, workers and communities from the torrent of corporate trading dominating today’s markets,” Mr. Jackson said. “Even more disturbing, there is clear evidence that a substantial number of corporate executives today use buybacks as a chance to cash out the shares of the company they received as executive pay.”

rjackson

Mr. Jackson said he is also asking his fellow commissioners to allow an open comment period “to re-examine our rules in this area to make sure they protect employees, investors and communities, given today’s unprecedented volume of buybacks,” he said.

According to research Mr. Jackson released Monday, stock buybacks are increasingly used by executives to cash out. His staff studied 385 buybacks over the last 15 months, matched to executive stock sales available in SEC filings.

One finding was a jump in stock price of more than 2.5% in the 30 days after the announcements studied. And in half of the buybacks studied, at least one executive sold shares in the month following the buyback announcement, and twice as many companies have insiders selling in the eight days after a buyback announcement than on any other trading day.

“Thus, executives personally capture the benefit of the short-term stock-price pop created by the buyback announcement,” said Mr. Jackson. While such trading is not necessarily illegal, “it is troubling because it is yet another piece of evidence that executives are spending more time on short-term stock trading than long-term value creation,” he said.

Read full, original pionline.com article here.

Workiva Named Most Innovative Company of the Year by American Business Awards

Workiva Also Wins Silver Stevie Awards for Software Company of the Year and Most Innovative Tech Company of the Year

AMES, Iowa – June 12, 2018Workiva (NYSE:WK), a leader in data collaboration, reporting and compliance solutions, has won a Gold Stevie® Award for Most Innovative Company of the Year in the 16th annual American Business Awards. Workiva also won a Silver Stevie® Award for Software Company of the Year, a Silver Stevie® Award for Most Innovative Tech Company of the Year and a Bronze Stevie® Award for Communications Program of the Year.

Gold Stevie JPG

Nicknamed the Stevies for the Greek word meaning “crowned,” the awards were presented to winners at a gala ceremony at the Marriott Marquis Hotel in New York on Monday, June 11. This is the second year in a row that Workiva has been recognized as the Most Innovative Company of the Year.

“We are honored to be recognized again for our innovation by the American Business Awards,” said Marty Vanderploeg, CEO of Workiva. “Customers all over the world use our Wdesk platform to improve data collaboration, automate reports and analyses and support finance transformation across their organizations.”

More than 3,700 U.S. organizations of all sizes and in nearly every industry submitted nominations this year to the American Business Awards for consideration in a wide range of categories. More than 200 professionals worldwide participated in the judging process to select this year’s Stevie Award winners.

“The nominations submitted for the 2018 American Business Awards were outstanding. The competition was intense, and those recognized as Stevie Award winners should be immensely proud of this accomplishment,” said Michael Gallagher, president and founder of the Stevie Awards.

Details about The American Business Awards and the list of 2018 Stevie Award winners are available at www.StevieAwards.com/ABA.

Read full press release here.