Workiva Wins 2018 Stratus Award for Cloud Computing

STRATUS_AWARD-LOGO-2018AMES, Iowa – August 28, 2018Workiva (NYSE:WK), a leader in data collaboration, reporting and compliance solutions, today announces that it has won a 2018 Stratus Award for Cloud Computing by Business Intelligence Group. The Stratus Awards honor companies, products and people that offer unique, cloud-based solutions.

Workiva was recognized as a 2018 Cloud Integrator for its Wdesk platform. Business Intelligence Group defines a cloud integrator as “an organization, product or service that is focused on helping customers take existing processes, applications and business operations into the cloud.”

“Workiva is honored to be recognized by Business Intelligence Group as a leader in cloud software,” said Marty Vanderploeg, CEO of Workiva. “When we first started offering our software in 2010, many organizations were hesitant to place their data in the cloud. But that has all changed. Today, we have over 3,200 customers, including more than 75 percent of the Fortune 500 companies, that trust our Wdesk cloud-based platform.”

“Workiva is clearly ahead of the pack helping to drive practical innovations in the cloud.”

–Maria Jimenez, Chief Nominations Officer of Business Intelligence Group

“The cloud is now part of all of our daily lives, and the staff and volunteer judges are pleased to shed a little light on these innovative services, organizations and executives,” said Jimenez.

About Business Intelligence Group

The Business Intelligence Group was founded with the mission of recognizing true talent and superior performance in the business world. Unlike other industry and business award programs, business executives—those with experience and knowledge—judge the programs. The organization’s proprietary and unique scoring system selectively measures performance across multiple business domains and then rewards those companies whose achievements stand above those of their peers.

About Workiva

Workiva delivers Wdesk, a leading enterprise cloud platform for data collaboration, reporting and compliance that is used by thousands of organizations worldwide, including over 75 percent of the Fortune 500®. Companies of all sizes, state and local governments and educational institutions use Wdesk to help mitigate risk, improve productivity and gain confidence in their data-driven decisions.

Read full press release here.

Crunchbase.com: Boston-Area Startups Are On Pace To Overtake NYC Venture Totals

boston crunchbase

From Crunchbase.com:

Boston has regained its longstanding place as the second-largest U.S. startup funding hub.

After years of trailing New York City in total annual venture investment, Massachusetts is taking the lead in 2018. Venture investment in the Boston metro area hit $5.2 billion so far this year, on track to be the highest annual total in years.

The Massachusetts numbers year-to-date are about 15 percent higher than the New York City total. That puts Boston’s biotech-heavy venture haul apparently second only to Silicon Valley among domestic locales thus far this year. And for New England VCs, the latest numbers also confirm already well-ingrained opinions about the superior talents of local entrepreneurs.

“Boston often gets dismissed as a has-been startup city. But the successes are often overlooked and don’t get the same attention as less successful, but more hypey companies in San Francisco,” Blake Bartlett, a partner at Boston-based venture firm OpenView, told Crunchbase News. He points to local success stories like online prescription service PillPack, which Amazon just snapped up for $1 billion, and online auto marketplace CarGurus, which went public in October and is now valued around $4.7 billion.

Meanwhile, fresh capital is piling up in the coffers of local startups with all the intensity of a New England snowstorm. In the chart below, we look at funding totals since 2012, along with reported round counts.

Boston-VC_Deal-Dollar-Volume

In the interests of rivalry, we are also showing how the Massachusetts startup ecosystem compares to New York over the past five years.

Read full, original Crunchbase.com article here.

Cloudera Streamlines IPO Process with Wdesk

Cloudera IPO

From Workiva.com — When Lauren Tipton arrived at Cloudera two years before its initial public offering, one of her first moves was to take the firm’s financial reporting to the cloud.

Having worked with Workiva for SEC reporting at another software firm, she was not about to go back to using traditional desktop applications, antiquated processes, and clunky email attachments to get work done.

“My favorite way of saying it is that companies pay for very specialized accountants with a relatively niche skill set to work with really outdated tools. It doesn’t make sense,” said Lauren, then a technical accounting and reporting manager for Cloudera.

“Workiva nailed everything from the drafting process to filing to print and distribution. Deal-makers have been waiting for this solution for years.”

-David Bell, Partner, Fenwick & West LLP.

Within her first few months, she implemented Wdesk, the cloud platform from Workiva that helps enterprises collect, report, and analyze business data.

Cloudera started using Wdesk to prepare its quarterly and annual financials, audit committee reports, and presentations.

For Lauren, the time-savings, efficiency, and control were as crucial to improving the private company reporting process as they were to public filings at her previous employer. The improvement was unmistakable.

“Moving from traditional printers to Workiva was like going from typewriter to computer,” Chief Financial Officer Jim Frankola said.

Still, as Cloudera went through the IPO filing process, the impulse was to reach for a traditional solution. “A lot of times in an IPO situation, people want to do what’s been done in the past,” Lauren said.

But Wdesk was working so well for financial reporting, it made sense to use it for Cloudera’s S-1 filing step, too.

It helped that Jim, as CFO, supports innovation and loves technology.

“He’s happy to break boundaries and do things in a different way, so I knew he’d be open to having a conversation.”

Their external legal counsel was on board with using Wdesk after seeing a demonstration of how it could speed up manual processes, in part by enabling more than one person to work on a document at the same time.

“Workiva figured out a way to run an IPO process using current-day workflow,” said David Bell, a partner at Fenwick & West LLP. “They have enabled us to put the days of working on handwritten edits with the delay of a traditional third-party provider into the past.

“Workiva nailed everything from the drafting process to filing to print and distribution. Deal-makers have been waiting for this solution for years,” David said.

Cloudera’s external auditors were already familiar with Workiva, and Lauren was pleased to learn that the bank Cloudera enlisted as advisors had also used Wdesk before. It didn’t hurt that two Workiva team members joined the team in the drafting room as Cloudera worked on its IPO.

“Workiva technology combined with 24/7 support improved the life of the entire working group,” said a managing director for a leading investment bank involved in the IPO.

Although using Wdesk for the IPO meant using a new technology, Lauren saw it as the less risky approach.

“I think the risk is really much less with technology. You don’t send as many attachments, you’re not worried about version control—things like that,” she said.

Cloudera’s controller also was supportive.

“He could see the agility and ease of use, but also how secure it was and how you could still get the visually appealing document the printer gives you,” she said. The team also liked that they could update the filing draft in real time, without having to wait for someone else to make changes for them.

She credits her team for helping Cloudera shift from outdated technology to a more innovative approach. “I’m lucky that I work with people who are willing to do things in a different way,” she said.

Having been involved in SEC document drafting sessions in the past using outdated tools, her CFO walked away impressed.

“Our IPO didn’t feel painful,” Lauren said. “And I think a big part of that was being able to use Wdesk like we did.”

View original web version of the case study here.

Download PDF version of the case study here.

Workiva Named a Leader in Gartner’s 2018 Magic Quadrant for Cloud Financial Close Solutions

Workiva Positioned Furthest to the Right for Completeness of Vision for Second Consecutive Year

AMES, Iowa – July 31, 2018 — Workiva (NYSE:WK), a leader in data collaboration, reporting and compliance solutions, today announces that Gartner, Inc. has again selected Workiva as a Leader in its 2018 Magic Quadrant for Cloud Financial Close Solutions.

magic quandrant

This is the second consecutive year that Gartner has placed Workiva furthest on the completeness of vision axis in the Leaders quadrant, after evaluating 10 software vendors on 11 criteria.

According to Gartner, “Financial close solutions help the office of finance manage the financial close and apply appropriate controls throughout the accounting cycle. We believe that the solutions in this category help Chief Financial Officers understand operational and financial results and provide efficiency and assurance in their data and reports.” 1

“We are honored that Gartner has again recognized Workiva with placement furthest on the completeness of vision axis in its Magic Quadrant,” said Marty Vanderploeg, CEO of Workiva. “Our Wdesk platform helps our customers transform their accounting and finance processes from beginning to end.”

The full, complimentary report is available here.

1 Gartner, Inc. Magic Quadrant for Cloud Financial Close Solutions, John E. Van Decker, Christopher Iervolino, 26 July 2018.

Gartner Disclaimer: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose

Read full press release here.

Workiva Achieves FedRAMP Authorization to Operate

Federal Government agencies can choose the Wdesk platform to streamline a wide range of financial analyses and reporting

logo-main-fedramp

AMES, Iowa – July 10, 2018Workiva (NYSE:WK), a leader in data collaboration, reporting and compliance solutions, today announces that it has received Authorization to Operate (ATO) under the Federal Risk and Authorization Management Program (FedRAMP). Workiva, which worked with the Tennessee Valley Authority on its application, is now a FedRAMP LI-SaaS provider, signifying Workiva’s ongoing commitment to meet and maintain FedRAMP’s stringent cybersecurity requirements.

FedRAMP is a standardized, government-wide approach to security assessment, authorization and continuous monitoring for cloud products and services to help agencies migrate their existing systems to cloud-based software. The program also allows agencies to follow the Government’s Cloud First policy that mandates cloud services be assessed and considered first when comparing them to on-premise infrastructure options.

With the new authorization, Federal Government agencies can more easily adopt the Wdesk platform to help streamline a wide range of financial analyses and reporting.

“We look forward to helping Federal agencies find new ways to solve complex data challenges,” said Marty Vanderploeg, CEO of Workiva. “Earning the Authority to Operate from FedRAMP is a milestone for us and recognizes our work to continuously strengthen the security and safety of Wdesk. These efforts benefit all of our customers.”

Wdesk enables users to collaborate at the same time in a controlled environment with a recorded history of every change. Inside Wdesk, data is linked together – in spreadsheets, documents, presentations and reports. Government agencies will be able to rely on the data transparency and consistency that Wdesk provides to help mitigate risk and have confidence in their data-driven decisions.

Workiva offers General Services Administration (GSA) pricing through its Government software distributor, Vertosoft. GSA pricing ensures preferred pricing without the need for bids.

Read full press release here.