Workiva Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS TOP 500 Market Report

Workiva Strengths, Domain Expertise, and Key Differentiators

Workiva's platform stands out for its unified approach to integrating financial reporting, ESG, and governance, risk, and compliance (GRC) into a single, cloud-based environment. This consolidation ensures data consistency, enhances collaboration, and simplifies audit processes. The platform's real-time data synchronization and robust security measures provide users with confidence in the accuracy and integrity of their reports. Additionally, Workiva's commitment to innovation, exemplified by the integration of generative AI and the development of customizable templates, empowers organizations to adapt swiftly to changing regulatory landscapes and stakeholder expectations.

Workiva’s partnership ecosystem, comprising over 100 global partners, enhances the platform’s capabilities by offering specialized services in financial reporting, ESG, and GRC. The platform’s adoption by 85% of the Fortune 500 demonstrates its reliability and effectiveness in addressing the needs of large enterprises. Financially, Workiva’s 17% year-over-year revenue growth in Q1 2025 and a 20% increase in subscription revenue highlight the market’s confidence in its solutions. The platform’s ability to connect data from multiple sources, streamline workflows, and ensure audit-ready outputs further solidifies Workiva’s position as a leader in the reporting software market.

Workiva Recent Developments

Workiva has significantly advanced its platform by integrating generative AI capabilities, enhancing user productivity and streamlining reporting workflows. This integration allows users to efficiently author, edit, and refine content across various reporting domains, including financial, ESG, and compliance areas. The AI features are designed with a strong emphasis on data privacy and security, ensuring that customer data remains protected and is not utilized for training external models. Additionally, the launch of the Workiva Marketplace has expanded the platform's functionality, offering over 140 templates and 60 no-code connectors developed by both Workiva and its partners. These tools facilitate process automation and provide industry best practices, enabling organizations to accelerate their reporting processes and adapt to evolving regulatory requirements.

In July 2021, Workiva made headlines by joining the United Nations Global Compact CFO Taskforce, reaffirming its commitment to corporate responsibility and sustainability. Just a month later, in August 2021, the company marked a significant milestone with its acquisition of OneCloud, a leading provider of integration platform as a service (iPaaS) software. This move underscores Workiva's dedication to enhancing its offerings and meeting the evolving needs of its customers in the rapidly evolving digital landscape. Additionally, in April 2021, Workiva introduced its cutting-edge ESG solution on its cloud platform, aimed at helping organizations navigate the complex landscape of environmental, social, and governance reporting.

Workiva Mergers and Acquisitions (M&A) Activities

In 2024, Workiva strategically acquired Sustain.Life, a sustainability-focused software company. This acquisition aims to bolster Workiva's ESG reporting capabilities by integrating Sustain.Life's expertise in environmental data management and sustainability metrics. The merger reflects Workiva's commitment to providing comprehensive solutions that address the increasing demand for transparent and accurate ESG disclosures. By incorporating Sustain.Life's functionalities, Workiva enhance its platform's ability to support organizations in meeting stringent sustainability reporting standards and regulatory expectations.

In April 2022, Workiva acquired Denmark-based ParsePort, a leading provider of XBRL conversion software in Europe, for $100 million in cash. This acquisition bolsters Workiva's position as a leader in XBRL and Inline XBRL financial disclosure in Europe, enhancing its cloud platform's capabilities for financial and non-financial reporting.

In 2021, Workiva made headlines by joining the United Nations Global Compact CFO Taskforce, reaffirming its commitment to corporate responsibility and sustainability. Just a month later, in August 2021, the company marked a significant milestone with its acquisition of OneCloud, a leading provider of integration platform as a service (iPaaS) software. This move underscores Workiva's dedication to enhancing its offerings and meeting the evolving needs of its customers in the rapidly evolving digital landscape.

In 2021, the company made headlines again with its acquisition of AuditNet, a global audit content, and services provider. This strategic move bolsters Workiva's audit management offerings and reinforces its commitment to providing comprehensive solutions to its customers.

Workiva Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Workiva applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Workiva and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified OneCloud, Audit Net, Arelle and ParsePort customers.

Workiva Key Enterprise and Cloud Applications

OneCloud, Audit Net, Arelle and ParsePort

Workiva Revenues, $M:

Workiva Revenue Breakdown By Type, $M:

Workiva Enterprise Applications Revenues By Functional Markets, $M:

Workiva Enterprise Applications Revenues By Verticals, $M:

Workiva Revenues By Region, $M

Workiva Direct vs Indirect sales

Workiva Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Workiva Customers

No. of Workiva Customers: 6300

No. of Workiva Enterprise Applications Customers: 6300

No. of Workiva Cloud Customers: 6300

No. of Workiva Cloud Subscribers: 6300

With a customer base exceeding 6,300 organizations worldwide, Workiva has demonstrated its ability to cater to diverse industries and geographies. Workiva serves a diverse clientele across various industries and regions, including prominent organizations such as Foxconn, Diageo, and Rio Tinto. Notable customers include Hershey, which uses Workiva to integrate financial reporting, internal controls, and sustainability data; KeyBank, which leverages the platform for resolution planning; and Slack, which transitioned to Workiva for its SEC filings after going public. Other clients, such as Claritev, RYAM, and Acumen Pharmaceuticals, have benefited from Workiva’s ability to streamline reporting processes and enhance data accuracy.

Workiva Market Opportunities, M&A and Geo Expansions

The increasing focus on ESG reporting, driven by stakeholder demands and regulations like the EU’s CSRD, presents a significant growth avenue. Workiva’s platform, already equipped to handle ESG data integration, can further enhance its offerings to meet these regulatory requirements. The company also has the potential to deepen its penetration in global markets, particularly in regions where demand for integrated reporting solutions is rising, given its existing presence in 170 countries.

Leveraging artificial intelligence (AI) and automation offers another opportunity to streamline complex reporting processes, making the platform more attractive to customers seeking efficiency. Expanding its partnership ecosystem will enable Workiva to offer more comprehensive services and reach a broader customer base. These opportunities align with Workiva’s strategic focus on innovation and market expansion, positioning it to capture a larger share of the growing reporting software market.

Workiva Risks and Challenges

Despite its strong market position, Workiva faces several risks that could impact its performance. The reporting software market is highly competitive, requiring continuous innovation to maintain a competitive edge over rivals offering similar solutions. Evolving regulatory landscapes, particularly in financial and ESG reporting, may necessitate significant platform updates, increasing operational costs and complexity.

As a cloud-based platform handling sensitive financial and compliance data, Workiva must maintain robust cybersecurity measures to prevent data breaches, which could erode customer trust and lead to regulatory penalties. Economic downturns could reduce IT spending, potentially slowing Workiva’s growth. Additionally, rapid technological advancements, such as AI and automation, demand ongoing investment in research and development to keep the platform relevant and competitive. Workiva must navigate these challenges strategically to sustain its growth trajectory.

Workiva Ecosystem, Partners, Resellers and SI

The company has focused on expanding its ecosystem through strategic partnerships. Workiva’s partnership program includes a diverse range of global partners who leverage the platform to deliver solutions in financial reporting, ESG, and GRC. These collaborations are pivotal, enhancing the platform’s value by providing additional services and expertise. For example, partnerships with firms like Deloitte have led to the development of sustainability-focused accelerators, helping organizations comply with regulations like the EU’s Corporate Sustainability Reporting Directive (CSRD).

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link: