| Market Capitalization (Millions $) |
3,770 |
| Shares
Outstanding (Millions) |
56 |
| Employees |
2,526 |
| Revenues (TTM) (Millions $) |
739 |
| Net Income (TTM) (Millions $) |
-55 |
| Cash Flow (TTM) (Millions $) |
46 |
| Capital Exp. (TTM) (Millions $) |
2 |
Workiva Inc
The objective of Workiva is to power transparent reporting for a better society. We think that todays customers, workers, shareholders, and other stakeholders want more from businesses, including greater action, openness, and disclosure of financial and non-financial information. We provide solutions to satisfy that need by streamlining processes, connecting data and teams, and ensuring consistency - all inside a cloud platform that is managed, secure, and audit-ready.
Workiva provides the premier cloud platform for regulatory, financial, and environmental, social, and governance ("ESG") reporting in the globe. Workiva offers software-as-a-service solutions to over 4,300 businesses, assisting them in addressing some of the most challenging reporting and disclosure concerns. People all around the world rely on our cloud-connected technology to provide seamless collaboration and deep integration into current work processes, therefore simplifying their most complicated reporting difficulties.
While our clients utilize our platform for over 100 distinct use cases, we arrange our sales and marketing activities into four solution categories centered on the Chief Financial Officer ("CFO") office: regulatory reporting, non-regulatory reporting, financial services, and integrated risk. Our platform enables businesses by linking and converting data from enterprise resource planning ("ERP"), governance, risk, and compliance ("GRC"), human capital management ("HCM"), and customer relationship management ("CRM") systems, as well as third-party cloud and on-premise apps. Our platform enables customers to generate, evaluate, and publish data-linked documents and reports with better control, consistency, correctness, and efficiency. Because our platform is adaptable and scalable, companies can quickly develop, automate, and update their business processes in real time.
We designed our cloud-based platform to simplify complex work, supporting both remote and hybrid work environments. Six macro trends have been driving demand for Workivas platform: the shift to the cloud; digital transformation; remote and hybrid work; influx of disparate data sources; increased regulatory environment; and increased investor demands for ESG data.
Shift to the Cloud. Enterprises around the world have been shifting deployment of data management systems from on-premises to the cloud. A shift to the cloud started more than two decades ago with CRM and other front-office systems. In the last 10 years, enterprises also began adopting the cloud for managing middle- and back-office systems, owing to advantages in data security, data accessibility and total cost of operation. Having always delivered a cloud native platform, we have assisted many of our clients in adopting our cloud solutions and believe that the market has shifted to a cloud first or in many cases a cloud only set of purchasing requirements.
Digital Transformation. While the importance of digital transformation has been increasing in recent years, we believe that the pandemic accelerated that need and underscored the critical importance of collaborative cloud platforms for reporting and disclosure. As the world economy underwent increasing disruption, we believe that those companies that have embraced digital transformation were better able to maintain business continuity and improve productivity. Each of our fit-for-purpose solutions helps in critical aspects of our customers' digital transformation journeys and simplifies the complex work around reporting and disclosure.
Remote and Hybrid Work Environments. We believe that remote and hybrid work are here to stay. To attract and retain talent in the marketplace of knowledge workers, enterprises are responding to pressure to adopt more flexible work environments. Companies that manage a growing number of digital workplace employees are implementing collaborative technologies to streamline work processes and automate decision-making, actions and responses.
Influx of disparate data sources. As organizations capture and collect more data in more systems, the assembly, aggregation, and consolidation of that data becomes more complex. Integrating with and connecting to source systems and applications is one of the key requirements to address the technical complexity of reporting and disclosure, and is top of mind for the organizations we serve.
Increased Regulatory Environment. The regulatory environment continues to expand globally in both scope and complexity. Regulations are increasing as are demands for more data and disclosure. Regulators are also demanding greater use of structured, machine-readable data in companies' disclosures. Many regulators have already or will be implementing structured data mandates, requiring companies to tag data in their financial statements using eXtensible Business Reporting Language ('XBRL'), which is a royalty-free, international standard designed specifically for digital reporting of financial, performance, risk and compliance information. XBRL provides a unique, machine-readable tag for individual disclosures within business reports. To our knowledge, 60 countries have issued over 180 mandates for XBRL, and we expect use of the standard to continue to grow.
Increased Investor Demands for ESG Data. We believe it is more critical than ever for companies to be transparent and accountable not just to shareholders and investors but to all stakeholders: employees, customers, suppliers, partners and communities. Today, more than ever, environmental impact, social responsibility and corporate governance are impacting the valuations of companies and the ability of institutions to invest in those companies. ESG reporting is complex. It requires the ingestion, capture, management, and reporting of financial and non-financial data from many disparate sources, and it requires the collaboration of multiple internal stakeholders.
Company Address: 2900 University Blvd Ames 50010 IA
Company Phone Number: 275-3125 Stock Exchange / Ticker: NYSE WK
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