Workiva Features

Financial Insight (3)

Budgeting: Uses collected data to assist organizations in understanding what they can afford now, and in years to come. 58 reviewers of Workiva have provided feedback on this feature.
Forecasting: Creates a continuous and recurrent planning process that can be calculated according to a specified and customizable timeline. 57 reviewers of Workiva have provided feedback on this feature.
Planning: As reported in 60 Workiva reviews. Leverages data from budgeting and forecasting processes to help corporations understand their reality and make decisions accordingly.

Data (4)

Data Visualization: Based on 63 Workiva reviews. Offers methods of visualizing data via customizable dashboards, statistical graphs, and charts.
Data Analysis: Scours data for actionable insights. This feature was mentioned in 63 Workiva reviews.
Custom Reporting: Based on 61 Workiva reviews. Allows users to customize their own reports according to business needs.
Reporting Templates: Provides pre-built reporting templates to organize data for payroll, manufacturing, and other company factions. This feature was mentioned in 62 Workiva reviews.

Status Communication (4)

Collaboration: Allows for searchable communication within the tool via notes, checklists, and discussions to ensure clarity between users. 67 reviewers of Workiva have provided feedback on this feature.
Version Control: Reflects updates immediately, ensuring users have the most recent data while maintaining records of past performance. This feature was mentioned in 66 Workiva reviews.
Real-Time Data Updates: Based on 67 Workiva reviews. Updates varying factors in real-time, assuring forecasts and inferences are continually made according to the most recent information.
Scorecards: Displays and shares company performance data to increase transparency across the board. 54 reviewers of Workiva have provided feedback on this feature.

Budget Creation (6)

Data Import: Based on 49 Workiva reviews. Import trial balance, monthly P&L, balance sheets, and other types of financial data
Budget Hierarchies: As reported in 45 Workiva reviews. Define budget structure elements and how they are linked hierarchically
Versioning: Keeps track of all versions of a budget and allows users to compare versions This feature was mentioned in 48 Workiva reviews.
Formulas: Based on 49 Workiva reviews. Include budgeting formulas to estimate direct and indirect costs, operating and non-operating revenues
What-If: Based on 47 Workiva reviews. Test the potential financial impact of business decisions on revenues and expenses
Budget Periods: Users can customize standard budget periods (3, 9, or 12 months) This feature was mentioned in 46 Workiva reviews.

Budget Management (3)

Consolidation: Consolidate multiple budgets from different departments or business entities This feature was mentioned in 47 Workiva reviews.
Adjustments: Based on 43 Workiva reviews. Users with administrative access rights can modify budgets
Workflows: Workflows are used to define the steps required to alter budgets and who needs to approve changes 44 reviewers of Workiva have provided feedback on this feature.

Forecasting (5)

Historical Data: Forecasting is based on past transactions and historical financial or operational data This feature was mentioned in 44 Workiva reviews.
Reforecast: Based on 43 Workiva reviews. Ability to recreate forecasts to include new information that may impact budgets
Forecast Types: Support multiple types of forecasts such as balance sheet and cash flow forecasts 43 reviewers of Workiva have provided feedback on this feature.
Rolling Forecasts: As reported in 42 Workiva reviews. Used to review and update budgeting assumptions for a predefined period (usually one year)
AI: Based on 34 Workiva reviews. Uses AI algorithms and models to predict future trends and outcomes, based on historical data and patterns

Analytics (3)

Variance Analysis: As reported in 44 Workiva reviews. Project out as the year progresses to accommodate trends that affect key business drivers.
Forecasts Comparison: compare Income Statement, Balance Sheet, and Cash Flow for multiple periods This feature was mentioned in 44 Workiva reviews.
Forward Looking: Based on 43 Workiva reviews. Forward-looking Balance Sheet and Cash Flow Statements are synchronized with GL data

Reconciliation (2)

Reporting (6)

Report Types: Based on 246 Workiva reviews and verified by the G2 Product R&D team. Provide multiple types of reports such as point-in-time snapshot reports, or year over year
Standard: Based on 236 Workiva reviews and verified by the G2 Product R&D team. Offers standard financial reports out of the box
Custom: Based on 220 Workiva reviews and verified by the G2 Product R&D team. Allows users to edit reports and to combine multiple reports
Ratings: Provides ratings to rank companies based on their ESG programs This feature was mentioned in 61 Workiva reviews.
Investment: Generates reports for existing investors or to attract financing This feature was mentioned in 60 Workiva reviews.
Public: Creates reports that can be shared with the public, employees, customers, and partners 62 reviewers of Workiva have provided feedback on this feature.

Closing Process (3)

Audit: Based on 202 Workiva reviews and verified by the G2 Product R&D team. Creates workflows to assign tasks for audit and inspections, monitor work in progress, timelines, and approvals.
Journal Entries: Based on 177 Workiva reviews and verified by the G2 Product R&D team. Adjusts journal entries in order to have an accurate balance sheet and income statement
Distribution: Based on 200 Workiva reviews and verified by the G2 Product R&D team. Financial statements and statistical reports (such as KPI) can be assembled into financial packages

Audit Management (5)

Audit Types: Based on 54 Workiva reviews. Define different types of audits such as regular, ad-hoc, or industry-specific.
Validation Rules: Provide rules that can be used to validate audits based on predefined criteria. 51 reviewers of Workiva have provided feedback on this feature.
Templates & Forms: Provide out of the box audit templates and forms for various processes and industries. This feature was mentioned in 58 Workiva reviews.
Checklists: Auditors can use checklists for multiple processes, both online and offline. This feature was mentioned in 53 Workiva reviews.
Audit Trail: As reported in 54 Workiva reviews. Displays all the changes made during audits, including details such as username, timestamp, or type of change.

Regulatory Change Management (6)

Content Library: Create and maintain a library of regulatory content for compliance purposes. This feature was mentioned in 57 Workiva reviews.
Updates: As reported in 60 Workiva reviews. Ability to maintain regulatory content and documents up to date.
Learning: Based on 57 Workiva reviews. Include educational content to update employees and managers on regulatory changes.
Action Plans: Define and implement corrective and preventive action plans for regulatory change. 49 reviewers of Workiva have provided feedback on this feature.
Tests: Include models and tools to perform internal tests that simulate regulatory controls. This feature was mentioned in 54 Workiva reviews.
Impact Analysis: Estimate the impact of regulatory changes on the operations of the company. 52 reviewers of Workiva have provided feedback on this feature.

Risk Management (4)

Risk Identification: As reported in 54 Workiva reviews. Identify various risk factors such as the inadequate use of technology, human factor, or external risks.
Risk Classification: Based on 51 Workiva reviews. Ability to classify risks based on risk type, severity, and custom criteria.
Risk Methodology: Based on 53 Workiva reviews. Support for various methodologies and frameworks for risk management.
Goals Monitoring: As reported in 50 Workiva reviews. Monitor risk management performance against goals and objectives.

Third Party & Supplier Risk Management (4)

Supplier Scoring: Based on 49 Workiva reviews. Users can assign scores to suppliers based on the estimated risk of doing business with them.
Contract Review: Based on 47 Workiva reviews. Review vendor contracts and profiles to ensure compliance with regulation and internal policies.
Vendor Performance: Track vendor performance using supplier data such as a history of transactions and contracts. This feature was mentioned in 40 Workiva reviews.
Supplier KPIs: Track vendor risk KPIs such as the time it takes vendors to respond to security incidents. 43 reviewers of Workiva have provided feedback on this feature.

Business Continuity Management (3)

Financial Planning (3)

Platform (4)

Integration: As reported in 50 Workiva reviews. Delivers APIs and standard integrations with other software systems.
Security & Privacy: As reported in 50 Workiva reviews. Complies with security and privacy regulations and standards.
Mobile Access: As reported in 43 Workiva reviews. Allows users to access the software using mobile devices.
Flexibility: Facilitates software configuration without the need for technical experise. This feature was mentioned in 57 Workiva reviews.

Services (4)

Implementation: Based on 54 Workiva reviews. Assists customes through all the phases of the implementation process.
Training & Learning: Based on 54 Workiva reviews. Provides software users with training courses and learning content.
Customer Support: As reported in 56 Workiva reviews. Delivers customer and technical support, directly or trough partners.
Professional Services: The vendor provides consulting services such as business process reengineering. This feature was mentioned in 49 Workiva reviews.

Resource Management (3)

Thresholding: Allows preset and custom thresholds to be determined for legal emission levels, and generates alerts when legal limits are exceeded. 39 reviewers of Workiva have provided feedback on this feature.
Emissions Monitoring: Monitors levels of various emissions and pollutants in either real-time or through manual updating. This feature was mentioned in 36 Workiva reviews.
Sample Tracking: Stores emission sample data to monitor resource usage and quality over time. This feature was mentioned in 33 Workiva reviews.

Compliance Management (4)

Inspections: As reported in 34 Workiva reviews. Coordinates site inspection workflow and scheduling for compliance purposes.
Audit Trail: As reported in 44 Workiva reviews. Records historical data around previous resource emission audits, and analyzes trends over time.
Compliance Plans: Assists with building and storing mandatory compliance plans that adhere to standards like SWPP, HMBP, and SPCC. This feature was mentioned in 36 Workiva reviews.
Site Maps: Stores layout maps for each site to help inspectors. This feature was mentioned in 34 Workiva reviews.

Administrative (3)

Dashboards and KPIs: Provides a central dashboard to analyze data and monitor compliance health. 38 reviewers of Workiva have provided feedback on this feature.
Reporting: Offers standard and ad hoc report templates to demonstrate sustainability data trends over time. 49 reviewers of Workiva have provided feedback on this feature.
Device Integration: Integrates with hardware tools that capture resource usage and emission level data. This feature was mentioned in 34 Workiva reviews.

Data Collection (3)

Data Types: Manages quantitative and qualitative data for environmental, social, and governance activities 64 reviewers of Workiva have provided feedback on this feature.
Data Sources: Combines data from multiple sources such as software solutions, public websites, and spreadsheets 64 reviewers of Workiva have provided feedback on this feature.
Third Party: Uses data from third party sources such as Bloomberg and DowJones This feature was mentioned in 61 Workiva reviews.

Integration (3)

Governance, Risk & Compliance: Based on 59 Workiva reviews. Integrate with GRC software such as GRC Platforms, Audit management, and Policy management
Finance: Based on 63 Workiva reviews. Integrate with financial solutions such as accounting and ERP systems
Environmental, Quality and Safety Management: Integrate with EHS software such as Environmental Health and Safety and Quality Management Systems (QMS) 61 reviewers of Workiva have provided feedback on this feature.

Generative AI (6)

AI Text Summarization: As reported in 188 Workiva reviews. Condenses long documents or text into a brief summary.
AI Text Generation: As reported in 188 Workiva reviews. Allows users to generate text based on a text prompt.
AI Text Generation: Allows users to generate text based on a text prompt. 29 reviewers of Workiva have provided feedback on this feature.
AI Text Summarization: As reported in 29 Workiva reviews. Condenses long documents or text into a brief summary.
AI Text Generation: Allows users to generate text based on a text prompt. This feature was mentioned in 25 Workiva reviews.
AI Text Summarization: Condenses long documents or text into a brief summary. This feature was mentioned in 26 Workiva reviews.

Risk Management - Environmental, Social, and Governance (ESG) Reporting (4)

Communications: Based on 51 Workiva reviews. Facilitate communications with various stakeholders on ESG initiatives
Risk Identification: Based on 51 Workiva reviews. Help users identify ESG related risks to proactively address them
Risk Assessment: Based on 49 Workiva reviews. Evaluate the impact of ESG related risks on the company and its ecosystem
Strategic Planning: Define and implement strategies to improve ESG initiatives 49 reviewers of Workiva have provided feedback on this feature.

Reporting - Environmental, Social, and Governance (ESG) Reporting (5)

Benchmarking & Competitive Analysis: Provide ESG benchmarking data and competitive analysis functionality This feature was mentioned in 48 Workiva reviews.
Actionable Insights: Based on 50 Workiva reviews. Deliver action items to improve ESG initiatives based on historical data
AI-Enabled ESG Reporting: Use AI or GAI technology to optimize ESG management and reporting 49 reviewers of Workiva have provided feedback on this feature.
Performance Tracking: As reported in 51 Workiva reviews. Monitor the performance of Environmental, Social and Governance (ESG) initiatives over time
Compliance Reporting: Build reports around specific compliance requirements and directives such as CSR and CS3D. This feature was mentioned in 40 Workiva reviews.

Emissions Tracking - Carbon Accounting (4)

Setup: Define processes to track and manage a company’s carbon footprint This feature was mentioned in 15 Workiva reviews.
Templates: Provide customizable templates for emissions tracking and decarbonization activities This feature was mentioned in 14 Workiva reviews.
Compliance: As reported in 16 Workiva reviews. Ensure compliance with regulations and industry standards such as the Greenhouse Gas Protocol
Workflows: Based on 15 Workiva reviews. Include customizable workflows that define who does what and when to track emissions and limit their impact

Decarbonization - Carbon Accounting (3)

Reduction Planning: Allow users to create decarbonization plans aimed at reducing carbon emissions 13 reviewers of Workiva have provided feedback on this feature.
Carbon Credits: Provide the option to buy and sell carbon credits, which allow companies to emit a certain amount of greenhouse gases This feature was mentioned in 15 Workiva reviews.
Monitoring: Based on 13 Workiva reviews. Monitor decarbonization activities and provide corrective actions to keep the process on track

Analytics - Carbon Accounting (3)

Data Sources: As reported in 14 Workiva reviews. Gather and analyze carbon emissions data from multiple sources, external and internal
Forecasting: As reported in 13 Workiva reviews. Create forecasts for carbon emissions using historical data and compare them with benchmarks
Custom KPIs: Provide KPIs and metrics that are specific to carbon accounting and decarbonization 13 reviewers of Workiva have provided feedback on this feature.

Integration - Carbon Accounting (2)

Workflows - Audit Management (5)

Audit Trail: Displays all the changes made during audits, including details such as username, timestamp, or type of change in a centralized repository. 159 reviewers of Workiva have provided feedback on this feature.
Recommendations: Coordinate and track recommended remediation actions. 154 reviewers of Workiva have provided feedback on this feature.
Collaboration Tools: Based on 162 Workiva reviews. Facilitates collaboration between teams and stakeholders through shared workspaces.
Integrations: As reported in 149 Workiva reviews. Integrates with risk management platforms, GRC tools, and other systems.
Planning & Scheduling: Facilitates the creation of audit plans, schedules, and reminders. This feature was mentioned in 148 Workiva reviews.

Documentation - Audit Management (2)

Reporting & Analytics - Audit Management (3)

Dashboard: Based on 151 Workiva reviews. Dashboard provides real time or near real time updates and notifications in a centralized location.
Audit Performance: Provide information on the performance of the audit activities and processes. This feature was mentioned in 152 Workiva reviews.
Industry Compliance: Ensures audits are compliant with industry-specific regulations and standards. 149 reviewers of Workiva have provided feedback on this feature.

Platform AI Features - Policy Management (2)

Agentic AI - Environmental, Social, and Governance (ESG) Reporting (2)

Agentic AI - SAP Store (7)

Autonomous Task Execution: Capability to perform complex tasks without constant human input
Multi-step Planning: Ability to break down and plan multi-step processes
Cross-system Integration: Works across multiple software systems or databases
Adaptive Learning: Improves performance based on feedback and experience
Natural Language Interaction: Engages in human-like conversation for task delegation
Proactive Assistance: Anticipates needs and offers suggestions without prompting
Decision Making: Makes informed choices based on available data and objectives

Agentic AI - Carbon Accounting (1)

Agentic AI - FP&A (Financial Planning & Analysis) (2)

Agentic AI - Budgeting and Forecasting (3)

AI - Financial Close (5)

Autonomous Task Execution: Based on 35 Workiva reviews. Capability to perform complex tasks without constant human input
Compliance: As reported in 36 Workiva reviews. Uses AI to ensure the following of rules and creates detailed audit trails which helps compliance and audit preparation.
Reconciliation: Uses AI to match transactions across accounts and systems, and flag exceptions and discrepencies. This feature was mentioned in 36 Workiva reviews.
Data Collection: Uses AI to extract, clean, and validate financial data from disparate sources, while identifying errors and inconsistencies. 36 reviewers of Workiva have provided feedback on this feature.
Analysis: Generates AI-assisted financial reports and provides thorough analytical insights. 35 reviewers of Workiva have provided feedback on this feature.