Company: Workiva Inc.
Company Description: Workiva created Wdesk, a cloud-based productivity platform for enterprises to collect, link, report and analyze business data with control and accountability. Wdesk is used by thousands of organizations, including over 70% of the Fortune 500. Wdesk is proprietary word processing, spreadsheet and presentation applications that gives users the confidence to make decisions with real-time data.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Most Innovative Company of the Year - Up to 2,500 Employees
Nomination Title: Wdesk helps enterprises work smart.
Tell the story about what this nominated organization has achieved since January 1 2017 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
Workiva delivers Wdesk, an intuitive cloud platform that modernizes how people work within thousands of organizations, including over 70 percent of the FORTUNE 500®. Wdesk is built upon a data management engine, offering controlled collaboration, data connections, granular permissions and a full audit trail. Our scalable, enterprise-grade data engine enables users to collect, aggregate and manage their unstructured and structured data in Wdesk and it powers one of the largest and fastest spreadsheet applications in the cloud. Numbers, narrative, charts and graphics can be linked inside Wdesk, which becomes an organization’s central repository for critical data or “single source of truth.” With linked data and a full audit trail, managers can trust that Wdesk spreadsheets, word documents, presentations, dashboards and reports are up-to-date and consistent. Wdesk helps mitigate risk, improves productivity and gives users confidence in their data-driven decisions. Recently, CFO Magazine referenced Wdesk as being "as essential to the offices of the CFO and the controller as oxygen is."
In the last year, Workiva made several investments that will allow the company to deliver disruptive innovations across multiple industries.
Our technology is enterprise grade and developed to perform at scale. As we expand into new use cases, we are asking customers for Enterprise-level agreements. In 2017, we started to roll out features to service customers at an Enterprise scale. To do this, we developed technology to manage user licenses within Wdesk to accommodate for the increase in the number of seats. This comes with significantly more involvement from the IT teams at each company with requirements for controls over who has access to Wdesk and who doesn’t. IT teams want to be able to auto-provision users instead of manually doing so one-by-one. In an effort to meet these requests, we are developing an API for SCIM (System for Cross-domain Identity Management) that allows our customers to integrate Wdesk with their user management systems for auto provisioning and deprovisioning of users.
In addition, we introduced Roles to allow companies to customize the level of permissions of each seat license. Especially in Enterprise Level Agreements, a customer may purchase a large number of seats with full Wdesk capabilities. Roles allow an organization to customize those seats so that users use the functionality in the way their organization intends. For example, internal auditors can only do actions associated with viewing, and not editing.
Finally, Workiva announced its data integration between more than 100 cloud, SaaS and on-premise applications. This offers an ecosystem of pre-built connectors to ERP, CRM, and HR systems, including common platforms like Dell BoomiTM, Host Analytics, Business Wire, NetSuite®, Oracle®, and SAP® solutions. Bidirectional data flow in connected systems and linked data within Wdesk gives customers confidence in the accuracy of their data. Imports directly from source systems eliminate manual entry errors, and automated refresh ensures up-to-date data. This new integration framework helps our customers greatly improve the business value of their ERP and other data.
Today, over 3.5 billion data values are linked among Wdesk documents. This creates a single source of truth for our more than 3,000 customers and results in significant savings in terms of time and money. For example, a 2017 Forrester Total Economic Impact study revealed that a multinational agri-business is achieving a return on investment (ROI) of 266 percent and more than $677,000 in total benefits and cost savings by using the Wdesk platform to streamline its management reporting.
Workiva’s innovation is driven by a focus on learning from their customers, building quick prototypes that allow them to get a sense of direction, and then iterating on designs until the company is able to deliver a product that customers love. We can also point to customer satisfaction scores above 95 percent and customer revenue retention rates exceeding 95 percent, which confirms that the company is a trusted partner for its clients.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this organization since the beginning of 2017 (up to 150 words).
-Gartner Names Workiva a Leader in 2017 Magic Quadrant for Cloud Financial Corporate Performance Management
-Chartis Names Workiva a Category Leader in RiskTech Quadrant for Model Risk Governance
-Wdesk is now being used by more than 3,000 organizations.
-Workiva retained more than 95% of its customers and a 95% customer satisfaction score.
-Over 3 billion data values linked among Wdesk documents.
-A large agri-business achieved ROI of 266% by using Wdesk for management reporting - saw $677,000 in total benefits and cost saving.
-Workiva customers submitted 75 percent of Inline XBRL filings in Q1 2017
-Data integration between Wdesk and More Than 100 Cloud, SaaS and On-Premise Applications
Of the following types of innovation, which ONE do you want the judges to most appreciate about your organization's story of achievement since the beginning of 2017? Overall Innovation