Deloitte and Workiva Alliance
Looking to the future, people should be insight generators, not report builders
Deloitte works with finance functions to increase the efficiency and effectiveness of their close to report cycle. In doing so we assist clients with the implementation of Workiva’s cloud-based connected reporting and compliance platform, enabling reporting teams to reduce risk, gain control and automate the report production process allowing more time to analyse, interpret and communicate near real-time insights to the business.
Deloitte and Workiva Alliance
How do organisations benefit from using Workiva?
Today, finance teams are having to accelerate their reporting to both internal and external stakeholders with a demand for real-time reporting and insights, coupled with increased scrutiny from regulators and boards.
Reporting teams are grappling with antiquated processes that rely largely on spreadsheets, data inputs from multiple systems with little or no lineage back to source, leading to a high inherent risk of inaccuracies and insistencies across the reporting process and a growing lack of confidence from the business in what finance produces.
Working with Deloitte, to implement the Workiva platform, clients can realise measurable benefits to their reporting process within weeks. Together, Deloitte and Workiva can enable reporting teams to:
Automating reporting – our guide on next steps
Provide greater accuracy and confidence in the numbers
- Connect data directly from multiple source systems, aggregate and link across all reports within the platform. When changes occur at source, numbers and narrative and charts are automatically updated, increasing confidence in reporting outputs.
Mitigate risk and rework with enhanced controls
- Centralising data and report creation in a secure cloud environment enables simultaneous authoring in a single document coupled with role-based permissions facilitates real time collaboration with enhanced controls.
- An audit trail is automatically created every time a user makes a change in a document, providing transparency and confidence to all internal and external stakeholders.
Increase productivity
- Automate manual processes and data inputs feeing up capacity for more high-value activities e.g. data analysis and alerting management to emerging risks.
- Eliminates copying and pasting, email trails, hand-off points across the reporting process with real time collaboration.
Organisations globally are being forced to take more proactive measures to enhance their internal control and reporting environments, as regulators continue to raise the bar on financial reporting and audit quality as they seek to enhance confidence in the financial reporting ecosystem. Learn more about why finance teams are shifting their reporting processes to platforms like Workiva to streamline their reporting processes, reduce the risk of human error and create capacity within finance teams to analyse (rather than just compile) information for internal and external reporting.
Why Deloitte and Workiva
Deloitte’s finance, accounting and compliance solutions portfolio, aims to transform, govern and automate the financial accounting process while simultaneously improving internal controls and standardising statutory and regulatory activities. For reporting, this includes diagnosing current issues, enhancing the design effectiveness of outputs, and streamlining production.
Together, the Deloitte and Workiva alliance can help clients improve the quality of their reporting process through connected, collaborative reporting.
Deloitte has engaged with Workiva around the world, actively identifying new digital opportunities, expanding solutions to existing customers and enhancing customer satisfaction by combining their implementation and managed services capabilities with deep industry experience. Deloitte ingrained the Workiva platform into its suite of services, helped organisations navigate the most demanding challenges they face, and has continued to stay ahead of changing regulations and industry mandates.Deloitte has been awarded the 2020 Workiva APAC Partner of the Year Award. This is great recognition of our alliance strategy in action, which sees us taking our deep domain expertise to market with Workiva to provide clients with a cloud-based compliance platform which connects and automates reporting across finance, accounting, risk, and compliance.
Deloitte's industry-leading expertise in the reporting and compliance space, powered by Workiva, can help connect your data to your reports, create stronger processes and controls, enabling you to more rapidly respond to changing events make better informed decisions whilst uplifting the capabilities of your finance teams.
