Automatic Updates, Approval Workflows and Data Connections from Source Systems to Final Reports in the Workiva Ecosystem Ensure Accuracy and Transparency
Workiva (WK), provider of the world’s leading connected reporting and compliance platform, today released new Wdata capabilities, including automatic updates, approval workflows and improved connectivity, at its Amplify user conference here.
Wdata is a Workiva platform component that enables customers to orchestrate data from Enterprise Resource Planning (ERP), Governance Risk and Compliance (GRC) platforms, other third-party, on-premise systems and cloud applications. Once the data is connected in the Workiva platform, users are able to automate updates, track every change and seamlessly collaborate with colleagues to create trusted reports and regulatory filings.
New Wdata capabilities include:
Automated Data Updates and Workflows: Users are able to create and manage sequences of tasks—known as chains—to automate workflows across on-premise or cloud data sources. Chains can be configured to automatically refresh data from multiple sources, and then push that data to spreadsheets, documents and presentations for connected reports.
Finance and Accounting Connectors: Finance and accounting teams are able to access more than 30 connectors to integrate data directly from their most commonly used, on-premise systems and cloud applications for sourcing their ERP, reconciliation, financial close, budgeting, planning and other operational data.
Risk and Controls Integration: Users can connect GRC, point solution and other audit risk and compliance systems to share issues, risk, controls and other critical data.
Automated Monitoring and Updates: Users create data connections that can automatically monitor and pull information from source systems on-demand or a set schedule.
Controlled Access and Approvals: Managers have new tools for governance and oversight because they can control collaborators’ access to defined datasets, establish multi-step approvals and apply full audit trails.
“Wdata creates a fully integrated data ecosystem in the Workiva platform,” said Will Gregg, Vice President of Solutions at Workiva. “Our customers can configure Wdata so that their data will automatically update in a single, secure environment and feed directly into downstream reports and analysis.”
Wdata automation immediately takes away human-entry error and becomes a huge time savings for overworked teams. “When a team’s data is in our platform, they can create any report or compliance filing with full trust and transparency,” he added. “With a few clicks, they will be able to drill down into the details of a single data point or take a holistic view of their entire organization.”
“Wdata will fundamentally change the value of reporting teams by giving them time to analyze their business performance for high-level decision-making,” said Gregg. “We are entering a new frontier of reporting and compliance.”
About Workiva Amplify
Workiva Amplify is the annual Workiva user conference. In 2019, it expects to bring together over 2,000 accounting, finance and compliance professionals; industry leaders and Workiva experts. The four-day conference provides training and professional development, continuing education credits, best practices and networking.
Workiva, provider of the world’s leading connected reporting and compliance platform, is used by thousands of enterprises across 180 countries, including more than 75 percent of Fortune 500® companies, and by government agencies. Our customers have linked over five billion data elements to trust their data, reduce risk and save time. For more information about Workiva (WK), please visit workiva.com.
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