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

Workiva Strengths, Domain Expertise, and Key Differentiators

Workiva's cloud platform for reporting, compliance, and data management stands out for its unparalleled speed, flexibility, and usability, empowering organizations to streamline their processes and drive business growth.

With over 6,000 organizations leveraging its platform, including 84% of the Fortune 100 and more than 76% of Fortune 500 companies, Workiva has established itself as a trusted partner for modernizing work across the enterprise. The company's robust product portfolio, powered by sophisticated data management engines, addresses the most complex reporting challenges and optimizes the financial reporting life cycle from close through disclose.

Workiva Recent Developments

In 2023 Workiva introduced Generative AI capabilities to its cloud platform, marking a transformative milestone in the business reporting market. The integration of Generative AI promises to enhance productivity and efficiency, empowering users to make better, data-driven decisions at a faster pace.

This strategic move not only streamlines content creation but also empowers users to focus on high-value tasks by transforming them from content producers to content editors. With the addition of a digital thought partner, users gain access to real-time assistance, further enhancing productivity. David Haila, EVP and Chief Technology Officer for Workiva, emphasized the company's commitment to innovation and responsible AI use, highlighting the importance of combining human expertise, contextual data, and Generative AI technology to drive transformative business value.

With a focus on ethical considerations, data privacy, and transparency, Workiva ensures that its customers have full control over their data and can leverage industry-leading AI models without compromising security or privacy.

Workiva, a frontrunner in cloud-based reporting, compliance, and data management solutions, has been making waves in the industry with its recent developments and strategic acquisitions. 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 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.

ParsePort's expertise in ESEF financial reporting mandates and its widespread adoption across Europe, with over 800 organizations relying on its solutions, further strengthens Workiva's market presence in the region. By integrating ParsePort's XBRL conversion solution into its platform, Workiva aims to simplify complex reporting processes for global organizations and expand its reach in the European market.

With this acquisition, Workiva continues its mission to power transparent reporting for a better world, leveraging ParsePort's expertise and technology to deliver innovative solutions to its customers.

In addition to its organic growth initiatives, Workiva has been actively pursuing mergers and acquisitions to strengthen its market position and expand its capabilities.

In December 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's strategic partnerships, such as its collaboration with AuditNet and its extensive ecosystem of over 200 partners, including global consulting firms and technology providers, further enhance its value proposition and drive innovation across the industry.

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

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Workiva Direct vs Indirect sales

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

List of Verified Workiva Customers

No. of Workiva Customers: 6000

No. of Workiva Enterprise Applications Customers: 6000

No. of Workiva Cloud Customers: 6000

No. of Workiva Cloud Subscribers: 6000

With a customer base exceeding 6,000 organizations worldwide, Workiva has demonstrated its ability to cater to diverse industries and geographies. Recent customer wins, including New York Life Insurance Company, eBay, Chevron, and many others, underscore the company's global appeal and market leadership. From multinational enterprises to emerging startups, Workiva's solutions resonate across various industries, driving efficiency, transparency, and compliance in financial reporting and regulatory compliance.

Workiva Market Opportunities, M&A and Geo Expansions

Workiva is well-positioned to capitalize on the growing demand for cloud-based reporting and compliance solutions, fueled by increasing regulatory requirements, expanding volumes of data, and the need for greater transparency. With its innovative approach to integrating AI/ML features into its platform, Workiva is poised to unlock new opportunities for its customers, enabling them to harness the power of data analytics and automation to drive business insights and decision-making.

Workiva Risks and Challenges

Despite its strong market position, Workiva faces certain risks and challenges, including the need to effectively manage growth, maintain high-quality standards, and navigate competitive pressures. Additionally, the company must address operational complexities and ensure seamless integration of its acquisitions to drive long-term value for its stakeholders.

Workiva Ecosystem, Partners, Resellers and SI

Workiva's extensive ecosystem of partners, including global consulting firms, systems integrators, and technology providers, plays a pivotal role in driving innovation and accelerating the adoption of its platform. By collaborating with industry leaders and leveraging cutting-edge technologies, Workiva continues to expand its reach and deliver best-in-class solutions to its customers worldwide.

Workiva Cloud Infrastructure Insights

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• Workiva Public Cloud and Infrastructure (IaaS)
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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: