Workiva Named One of Fast Company’s 50 Best Workplaces for Innovators

Workiva joins Amazon, Chobani, L’Oréal, Morgan Stanley, P&G and More on Inaugural List

Fast Company

AMES, Iowa – August 5, 2019 – Workiva (NYSE:WK), the leading cloud provider of connected reporting and compliance solutions, today announces it has been named one of the Best Workplaces for Innovators by Fast Company. The inaugural list honors businesses and organizations that demonstrate a deep commitment to encouraging innovation at all levels.

Developed in collaboration with Accenture, the 2019 Best Workplaces for Innovators showcases 50 winners from a variety of industries, including biotech, consumer packaged goods, financial services, cybersecurity and engineering. Working together, Fast Company editors and Accenture researchers scored all 362 applications, and a panel of eight eminent judges reviewed and endorsed the top 50 companies. The 2019 awards feature workplaces from around the world, and eight of the honorees are based outside the U.S.

“We are proud to be chosen for this prestigious list, which includes some of the most successful companies in the world,” said Marty Vanderploeg, CEO of Workiva. “At Workiva we are innovative in everything we do, from how we build our software to how we serve our customers to how we treat our employees. Our innovation will continue to be a driving force in data transparency and trusted, connected reporting throughout the world.”

“Other titles catalog perquisites and benefits. Fast Company seeks to highlight workplaces that attract and retain the best talent by creating environments where employees are empowered to put forth bold ideas, engage in radical experiments, and even fail, in the name of innovation,” says Stephanie Mehta, editor-in-chief of Fast Company.

To see the complete list, go to: https://www.fastcompany.com/best-workplaces-for-innovators/2019.

Fast Company’s Best Workplaces for Innovators issue (August 2019) is available online now, and the print issue will be on newsstands beginning August 13. Join the Best Workplaces for Innovators conversation using #FCBestWorkplaces.

About Fast Company

Fast Company is one of the world’s leading business media brands, with an editorial focus on innovation with deep emphasis on creativity, technology, social impact, leadership, and design. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at fastcompany.com.

About Accenture

Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology, and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions — underpinned by the world’s largest delivery network — Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With 482,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at http://www.accenture.com.

About Workiva

Workiva, the leading cloud provider of connected reporting and compliance solutions, 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.

Read full press release here >>

FAST Act and iXBRL Guidance for Filers

Workiva.com — The SEC recently introduced FAST Act amendments that will soon affect filers. To ensure you are prepared for the new tagging requirements, we have put together the following resources. Be sure to bookmark this page for easy reference in the future.

Large Accelerated Filers and Inline XBRL (iXBRL) Filers

Who is affected?
The first phase affects US GAAP Large Accelerated Filers and all early iXBRLTM adopters, regardless of their filing category, with fiscal periods on or after June 15, 2019.

Foreign Private Issuers (FPIs) are required to comply if they are filing under US GAAP based on their filing category.ixbrl

What forms are included?
Forms impacted are 10-Q, 10-K, 8-K, and 20-F and 40-F as annual reports—this includes amendments, transitional filings, and the 8-K form variants.

When do the cover page requirements take effect?
Domestic filers are required to start iXBRL compliance with Form 10-Q; therefore, Form 8-K will become subject to Cover Page Data filing requirements only after the first Form 10-Q for a fiscal period ending on or after June 15, 2019, is filed.

Overall, compliance dates are as follows: A three-year phase-in beginning with reports for fiscal periods ending on or after the following dates:

  • Large accelerated filers—June 15, 2019
  • Accelerated filers—June 15, 2020
  • All other filers (including IFRS filers)—June 15, 2021

For assistance with Form 8-K Cover Page tagging

  • If you have purchased iXBRL Migration services, the Workiva Professional Services team will assist you with tagging the Cover Page of one (1) Form 8-K document as a template. Please reach out to your Customer Success Manager (CSM) or Professional Services Manager (PSM) to discuss this service.
  • If you have NOT purchased iXBRL Migration services, you may purchase an iXBRL 8-K Cover Page Template Tagging service and the Workiva Professional Services team will assist you with tagging the Cover Page of one (1) Form 8-K document as a template. Please reach out to the Workiva XBRL Sales team for further information.

For assistance with Forms 10-Q, 10-K, 20-F, or 40-F Cover Page tagging

If you have purchased iXBRL Migration services, the Workiva Professional Services team will assist you with tagging the Cover Page of one (1) Form listed above for each iXBRL Migration service purchased.

If you are under a Full Service or XBRL Complete contract and have migrated your document to iXBRL on your own, your PSM will assist you with tagging the remaining items on the Cover Page of your document. Please reach out to your PSM for assistance.
If you have NOT migrated to iXBRL, please consider purchasing iXBRL Migration Services. Reach out to the Workiva XBRL Sales team for further information.

Taxonomy Update Information

The SEC upgraded to EDGAR Release 19.2 to support the 2019 DEI Taxonomy, which includes a number of new DEI elements required for Cover Page Data. Updated versions of 2018 US-GAAP and 2019 US-GAAP Taxonomies will be created in Wdesk to incorporate the new 2019 DEI Taxonomy.

  • If you utilize iXBRL and have purchased a standalone Taxonomy Migration service or are on an existing XBRL Complete service, the Workiva Professional Services team will migrate your upcoming filing to the updated version of US GAAP taxonomy that incorporates the new 2019 DEI Taxonomy.
  • If you have not purchased a Taxonomy Migration service and would like assistance from the Workiva Professional Services team, please reach out to the Workiva XBRL Sales team for next steps.

Read full original post here >>

More Awards for Workiva

cwbp19_computerworld_100_best_places_to_work_in_it_2019_workspace_by_fabrikacr_gettyimages-628101664_2400x1600-100798856-large

The accolades for Workiva keep pouring in. In addition to other 2019 awards like Fortune’s Best Large Workplaces in Chicago and Best-In-Class Cloud Service Provider at the UK Cloud Awards, Workiva can add a couple more pieces of hardware to the trophy case:

Computerworld magazine named Workiva one of the Best Places to Work in IT

Workiva Wins Technical Innovation of the Year Award and the People’s Choice Award for Big Data Solutions from the American Business Awards

Workiva Wins Three More Stevie Awards

Read more about Workiva’s awards and company updates from the Workiva Newsroom here

 

CNBC.com: Slack going public in a red-hot IPO market, with a twist

slack logo

CNBC.com: Workplace-messaging firm Slack is about to go public in a red-hot IPO market, but it’s approach to going public — using a “direct listing” — is slightly different than an IPO.

The “direct listing” method revives some of the same issues and anxieties that came up when Spotify went public using the same method.

But the world is a lot different than when Spotify went public on April 3, 2018.

Direct listings allow a company to go public without involving underwriters — those intermediaries who buy shares from the company or insiders and then sell them to the public. Instead, the shares simply begin trading on an exchange, in this case the NYSE.

Spotify was the first large company to use a direct listing. The worry at that time was simple: direct listings were an untested way to go public. There were two concerns: 1) because direct listings do not have an initial price that is sold to investors, it was not clear where the stock would open, and 2) In a direct listing, most of the shares are immediately available for trading (in Spotify’s case, about 96%).

There was effectively no lock-up period. The fear was that insiders would dump the stock en masse on the first day, leading to chaos.

Reference price

Neither concern proved to be a major issue. Instead of an initial price that underwriters set to sell stock, Spotify and its advisors set a “reference price” of $132 that was roughly based on recent private trades. Spotify opened at $165.90 and closed at $149 on its first day of trading, up about 12 percent.

Fast forward to Slack, and those anxieties are much less evident. The NYSE has set a “reference price” of $26, based roughly on the price of private trades over the last few months (it has traded privately in a range of $25.75-$31.50).

As for the amount of shares available to trade, Renaissance Capital, which runs the Renaissance Capital IPO ETF (IPO), a basket of roughly the last 60 large IPOs, estimates that 283 million of the 599 million shares outstanding will be available to trade (47%).

Why isn’t the entire share count available to trade? Slack is restricting sales for those who bought private shares less than a year ago, and anyone who is an officer, director, or significant holder of the company.

A bigger concern is who might–or might not–be selling. The six largest shareholders (Accel, Andreessen Horowitz, Social Capital, CEO Stewart Butterfield, Softbank, and co-founder Cal Henderson) control about 60% of the stock. Some are restricted, but if the majority who are not decide to sit on their shares, supply/demand could be out of whack and the stock could be much more volatile.

As for the IPO environment, it’s hard to envision a more perfect scenario. Investors have been eager to snap up any companies that show signs of growth this year, including those that are losing money:

Recent IPOs

(from initial price)

The two laggards — Uber (down 3%), and Lyft (down 11%), are in a space–ride-hailing — that investors believe may have a very hard time becoming profitable any time in the future.

Concerns

Slack does have high growth with recurring revenues, but it also has plenty of negatives: trading at roughly 34 times trailing revenues, losing money, and with a very low barrier to entry.

A bigger concern may be that growth is decelerating: “2Q and FY20 revenue and billings guidance does suggest a meaningful deceleration from current levels,” DA Davidson analyst Rishi N. Jaluria wrote in a recent report, noting that first quarter revenue growth fell to 67% year-over-year from 78%.

The biggest concern, though, may be its size: depending on the price, almost $8 billion in stock could theoretically be available to trade. That is an awful lot for even a bull IPO market to absorb. By comparison, Uber was an $8 billion IPO.

“Big IPOs are harder to get elegantly into the market,” Kathleeen Smith from Renaissance Capital told me.

The hope is that Slack will trade better long-term than Spotify, which is trading at $146, below the $149 price it closed at on its first day of trading in April, 2018.

More articles on Slack’s IPO:

IPO Readiness Workshop: Philadelphia

philadelphia

Thursday, June 27 | 11:30 a.m.–1:30 p.m.
The Pyramid Club
1735 Market Street, 52nd Floor, Philadelphia

Join us for an exclusive IPO workshop featuring panelists from Duane Morris, Nasdaq, and PwC. This is your chance to hear from experts who have led issuers through some of the most recent high-profile IPOs.

Built specifically for executives at emerging growth companies, panelists will discuss how they approach common IPO challenges, what to consider given the current state of the market, infrastructure planning and execution advice, and lessons learned from their deal experiences.

The following panelists will provide insight through a 21st century lens:

  • Darrick Mix, Partner, Duane Morris LLP
  • Jordan Saxe, Senior Managing Director, Nasdaq
  • Mike Gould, Deals Partner and IPO Services Senior Partner, PwC

After this workshop, attendees will be able to:

  • Organize operational details in preparation for the IPO, including JOBS Act considerations
  • Identify technology and processes that scale to organizational needs
  • Adapt plans to address the current regulatory environment and finance trends

Workiva offers one complimentary CPE credit for this workshop.

REGISTER NOW >>