Workiva Among Apps Top 500

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Workiva Strengths, Domain Expertise, and Key Differentiators

Workiva is a cloud platform for reporting, compliance, and data management. It is powered by one of the fastest, safest, and most sophisticated data management engines available. The platform goes beyond traditional rows and columns, documents, and spreadsheets, and connects numbers, narrative, and supporting files in new and powerful ways—allowing our customers and partners to do amazing things.

Over 3,510 organizations use the Workiva cloud platform to modernize work across the enterprise. Workiva customers love the platform because it delivers the speed, flexibility, and usability of common desktop tools with the power and sophistication to address the most complex enterprise reports and processes. Workiva is used to solve the most sophisticated reporting challenges. With Workiva, customers create and connect data and narrative to consolidate and publish financial, performance, and regulatory reports.

Workiva is the SEC reporting market leader. Workiva maintains a large ongoing investment in XBRL mapping and tagging technologies and a bench of XBRL experts.

Workiva adds value throughout the financial reporting life cycle and optimizes the last mile of finance - from close through disclose. Workiva provides a welcome alternative to manual spreadsheets and complex legacy systems and enables users to connect and consolidate data from ERP, consolidation, and other financial systems. Workiva also optimizes the last mile of analytics.

Many organizations have a portfolio of tools for business intelligence, data warehousing, analytics, and EPM. However, they still struggle when preparing final reports that combine the numbers, narrative, and dashboards required to convey results. Workiva connects data from across the enterprise and provides a document-centric user experience to create, collaborate, and publish polished reports, digital reporting books, and presentations.

Workiva is also used for SOX, audit and risk management use cases. SOX, audit, and risk teams use the Workiva platform to collaborate and share risk and control frameworks, testing, risk assessment, and compliance documentation. The collaborative work management functionality enables teams to easily create, modify, and connect risk and control information across departments, business units and risk, and compliance teams.

Packed with innovation, the Workiva platform supports broader enterprise use cases powered by features including data management, workflow, collaboration, calculations, document management, mobile, dashboards, reports, and more. Workiva enables users to connect documents and data at enterprise scale in a collaborative work management platform. Many organizations have a portfolio of tools for business intelligence, data warehousing, analytics, and EPM. However, they still struggle when preparing final reports that combine the numbers, narrative, and dashboards required to convey results.

Workiva connects data from across the enterprise and provides a document-centric user experience to create, collaborate, and publish polished reports, digital reporting books, and presentations.

Workiva Recent Developments

In September 2019 Workiva released new Wdata capabilities, including automatic updates, approval workflows, and improved connectivity. Wdata is a Workiva platform component that enables customers to orchestrate data from Enterprise Resource Planning (ERP), Governance Risk and Compliance (GRC) platforms, other third-party, on-premise systems and cloud applications.

Once the data is connected in the Workiva platform, users are able to automate updates, track every change and seamlessly collaborate with colleagues to create trusted reports and regulatory filings.

Automated Data Updates and Workflows: Users are able to create and manage sequences of tasks—known as chains—to automate workflows across on-premise or cloud data sources. Chains can be configured to automatically refresh data from multiple sources, and then push that data to spreadsheets, documents and presentations for connected reports.

Finance and Accounting Connectors: Finance and accounting teams are able to access more than 30 connectors to integrate data directly from their most commonly used, on-premise systems and cloud applications for sourcing their ERP, reconciliation, financial close, budgeting, planning, and other operational data.

Risk and Controls Integration: Users can connect GRC, point solution and other audit risk and compliance systems to share issues, risks, controls, and other critical data.

Automated Monitoring and Updates: Users create data connections that can automatically monitor and pull information from source systems on-demand or a set schedule.

Controlled Access and Approvals: Managers have new tools for governance and oversight because they can control collaborators’ access to defined datasets, establish multi-step approvals and apply full audit trails.

In the following month Workiva and BlackLine have created an integration between their platforms. The integration will enable accountants who use either product to connect and transfer data between the two platforms. Many of Workiva customers use BlackLine to automate balance sheet reconciliations and other processes they need for a successful financial close before they use the Workiva platform for reporting and compliance. With this new integration, joint customers will be able to benefit from better transparency across applications and a higher level of trust and confidence in the data they report.

Workiva is driving a new age of cloud-based collaborative reporting, data management, and compliance and is increasing its presence throughout the globe, opening a location in Singapore to better serve clients in the Asia-Pacific region.

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 Wdesk customers.

Workiva Key Enterprise and Cloud Applications

Wdesk

Workiva Revenues, $M:

Type/Year 2018 2019 YoY Growth, %
Total Revenues, $M Subscribe Subscribe Subscribe
Enterprise Applications Revenues, $M Subscribe Subscribe Subscribe
Cloud Applications Revenues, $M Subscribe Subscribe Subscribe

* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.

Workiva Revenue Breakdown By Type, $M:

Type License Services Hardware Support & Maintenance SaaS
% of Total Revenues Subscribe Subscribe Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe Subscribe Subscribe

Workiva Revenues By Region, $M

Region % of Total Revenues 2019 Total Revenues, $M 2019 Enterprise Applications Revenues, $M 2019 Cloud Applications Revenues, $M
Americas Subscribe Subscribe Subscribe Subscribe
EMEA Subscribe Subscribe Subscribe Subscribe
APAC Subscribe Subscribe Subscribe Subscribe
Total Subscribe Subscribe Subscribe Subscribe

Workiva Direct vs Indirect sales

Region Direct Sales Indirect Sales Total
Type % Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe

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

List of Verified Workiva Customers


No. of Workiva Customers: 3510

No. of Workiva Enterprise Applications Customers: 3510

No. of Workiva Cloud Customers: 3510

No. of Workiva Cloud Subscribers: 3510


Workiva had 3,510 customers as of December 31, 2019. Customers include 80% of the Fortune 100 and more than 75% of Fortune 500 companies. Recent customer wins include: New York Life Insurance Company, Upland Software, JLL Income Property Trust, American Enterprise Group, Casey’s General Stores Inc., Noodles & Company, Pioneer Energy Services Corp., Republic Airways Holdings Inc., Western Alliance Bancorporation, Altera, American Equity, Black Hills Corporation, Discovery Communication, eBay, FBL Financial Group, Inc., FirstMerit Corporation, Lattice, Lower Lakes Towing, Meredith, MidWestOne Financial Group, NII Holdings, Inc., Orbitz WorldWide, Pinnacle Entertainment, Tanger Outlets, TiVo, Tupperware, Winnebago, ASM International, Century Aluminum, Eagle Rock Energy Partners, L.P., Hecla Mining Company, Herman Miller, Keinnedy Wilson, Molycorp, ViewPoint Bank, AES Energy, Advance Auto Parts, Amtech Group, Aviat Network, BridgePoint, Cascades, Davey, Eaton, InterDigital, Kindred Bio, Magellan Petroleum, Pioneer, Power Integrations, Radisys, Ultimate Software, Whirpool, Allianz, Amgen, Best Buy, Boston Scientific, Calvert Investments, Chevron and many other.

Workiva Market Opportunities, M&A and Geo Expansions

In April 2019 Workiva extended its operations with opening new offices in Frankfurt, Germany and Paris, France.

European companies are now adopting the Workiva platform to comply with the European Securities and Markets Authority's mandate for Inline XBRL for its European Single Electronic Format (ESEF) taxonomy. More than 5,000 EU issuers will be required to use this taxonomy for their annual financial reports, ending on or after January 1, 2020.

Multinational companies are also using Workiva's platform to improve efficiency and transparency in global statutory reporting, which is a complex and painful process for reporting information to government agencies to comply with each jurisdiction’s local GAAP requirements.

The Workiva Frankfurt office is located at 8 Taunusanlage and the Workiva Paris office is located at 277, Rue Saint-Honoré. Workiva also has offices in Amsterdam and London, as well as in 12 U.S. cities and two Canadian cities.

Corporations often struggle with outdated on-premise software and desktop tools that are not equipped to manage disparate business data and control numerous collaborators, documents and spreadsheets. Inefficient, legacy software systems are further compounded by four key trends: increasing regulatory requirements and legislation, expanding volumes of data, increasing oversight, and growing need for data transparency.

Workiva is a pure cloud platform that leverages both the Google Cloud Platform and Amazon Web Services and is composed of proprietary and opensource technologies. The Workiva platform has been adopted by 3,400+ organizations to manage processes including Disclosure Reporting, Financial Reporting, Management & Performance Reporting, Regulatory Reporting, and Risk and Compliance use cases.

With the release of expanded integration and workflow capabilities, there is a significant growth opportunity for Workiva to expand the use of their platform in their large enterprise and mid-market clients and continue their pace of adding at least 250 customers per year. The company is also expanding its partner network and global distribution.

Workiva Risks and Challenges

Risks facing Workiva’s business could include failure to effectively manage growth which would result in difficulty or delays in deploying customers, declines in quality or customer satisfaction, increases in costs, difficulties in introducing new features or other operational challenges, and any of these obstacles could adversely impact our business performance and results of operations.

Workiva Ecosystem, Partners, Resellers and SI

Workiva sales strategy focuses on acquiring new customers and growing existing customer relationships primarily by using a direct-sales model. Workiva does have a rapidly growing partner model with a focus on relationships with technology partners, systems integrators, and advisory firms. In the past 12 months, the company has announced that Workiva now supports integration to over 150 different systems. The company has also announced strategic partner relationships with a number of advisory forms and systems integrators.

Workiva Cloud Infrastructure Insights

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  • Workiva Public Cloud and Infrastructure (IaaS)
  • Workiva Platform (PaaS)
  • Workiva Application Delivery
  • Workiva Private Cloud and Data Centers

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).


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