[ Workiva Reviews ](https://www.g2.com/products/workiva-workiva/reviews) [ Workiva Reviews ](https://www.g2.com/products/workiva-workiva/reviews) # Workiva Features ##### ## Data (2) Data Visualization Offers methods of visualizing data via customizable dashboards, statistical graphs, and charts. Custom Reporting Allows users to customize their own reports according to business needs. Show More ##### ## Status Communication (4) Collaboration Allows for searchable communication within the tool via notes, checklists, and discussions to ensure clarity between users. Version Control Reflects updates immediately, ensuring users have the most recent data while maintaining records of past performance. Real-Time Data Updates 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. Show More ##### ## Budget Creation (6) Data Import Import trial balance, monthly P&L, balance sheets, and other types of financial data Budget Hierarchies 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 Formulas Include budgeting formulas to estimate direct and indirect costs, operating and non-operating revenues What-If 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) Show More ##### ## Budget Management (3) Consolidation Consolidate multiple budgets from different departments or business entities Adjustments 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 Show More ##### ## Forecasting (2) Historical Data Forecasting is based on past transactions and historical financial or operational data AI Uses AI algorithms and models to predict future trends and outcomes, based on historical data and patterns Show More ##### ## Reconciliation (2) Consolidation Data from multiple systems can be centralized into a single repository Management Financial information can be imported from multiple sources such as spreadsheets, text files, or databases Show More ##### ## Reporting (6) Report Types Provide multiple types of reports such as point-in-time snapshot reports, or year over year Standard Offers standard financial reports out of the box Custom Allows users to edit reports and to combine multiple reports Ratings Provides ratings to rank companies based on their ESG programs Investment Generates reports for existing investors or to attract financing Public Creates reports that can be shared with the public, employees, customers, and partners Show More ##### ## Closing Process (2) Audit Creates workflows to assign tasks for audit and inspections, monitor work in progress, timelines, and approvals. Distribution Financial statements and statistical reports (such as KPI) can be assembled into financial packages Show More ##### ## Risk Management (4) Risk Identification Identify various risk factors such as the inadequate use of technology, human factor, or external risks. Risk Classification Ability to classify risks based on risk type, severity, and custom criteria. Risk Methodology Support for various methodologies and frameworks for risk management. Goals Monitoring Monitor risk management performance against goals and objectives. Show More ##### ## Financial Planning (3) Extended Planning Analysis that creates business plans outside of finance, including sales, marketing, or HR. Reporting Reports on departmental KPI metrics measured against targets. Integration Consolidates planning processes across an organization into a single solution. Show More ##### ## Platform (4) Integration Delivers APIs and standard integrations with other software systems. Security & Privacy Complies with security and privacy regulations and standards. Mobile Access Allows users to access the software using mobile devices. Flexibility Facilitates software configuration without the need for technical experise. Show More ##### ## Services (4) Implementation Assists customes through all the phases of the implementation process. Training & Learning Provides software users with training courses and learning content. Customer Support Delivers customer and technical support, directly or trough partners. Professional Services The vendor provides consulting services such as business process reengineering. Show More ##### ## Administrative (1) Reporting Offers standard and ad hoc report templates to demonstrate sustainability data trends over time. Show More ##### ## Data Collection (3) Data Types Manages quantitative and qualitative data for environmental, social, and governance activities Data Sources Combines data from multiple sources such as software solutions, public websites, and spreadsheets Third Party Uses data from third party sources such as Bloomberg and DowJones Show More ##### ## Integration (3) Governance, Risk & Compliance Integrate with GRC software such as GRC Platforms, Audit management, and Policy management Finance 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) Show More ##### ## Generative AI (6) AI Text Summarization Condenses long documents or text into a brief summary. AI Text Generation Allows users to generate text based on a text prompt. AI Text Generation Allows users to generate text based on a text prompt. AI Text Summarization Condenses long documents or text into a brief summary. AI Text Generation Allows users to generate text based on a text prompt. AI Text Summarization Condenses long documents or text into a brief summary. Show More ##### ## Risk Management - Environmental, Social, and Governance (ESG) Reporting (4) Communications Facilitate communications with various stakeholders on ESG initiatives Risk Identification Help users identify ESG related risks to proactively address them Risk Assessment Evaluate the impact of ESG related risks on the company and its ecosystem Strategic Planning Define and implement strategies to improve ESG initiatives Show More ##### ## Reporting - Environmental, Social, and Governance (ESG) Reporting (5) Benchmarking & Competitive Analysis Provide ESG benchmarking data and competitive analysis functionality Actionable Insights 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 Performance Tracking 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. Show More ##### ## Emissions Tracking - Carbon Accounting (4) Setup Define processes to track and manage a company’s carbon footprint Templates Provide customizable templates for emissions tracking and decarbonization activities Compliance Ensure compliance with regulations and industry standards such as the Greenhouse Gas Protocol Workflows Include customizable workflows that define who does what and when to track emissions and limit their impact Show More ##### ## Decarbonization - Carbon Accounting (2) Reduction Planning Allow users to create decarbonization plans aimed at reducing carbon emissions Monitoring Monitor decarbonization activities and provide corrective actions to keep the process on track Show More ##### ## Analytics - Carbon Accounting (3) Data Sources Gather and analyze carbon emissions data from multiple sources, external and internal Forecasting 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 Show More ##### ## Integration - Carbon Accounting (2) ERP Integrate with enterprise software such as ERP and supply chain management GRC Integrate with compliance software such as GRC Platforms or ESG reporting Show More ##### ## 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. Recommendations Coordinate and track recommended remediation actions. Collaboration Tools Facilitates collaboration between teams and stakeholders through shared workspaces. Integrations Integrates with risk management platforms, GRC tools, and other systems. Planning & Scheduling Facilitates the creation of audit plans, schedules, and reminders. Show More ##### ## Documentation - Audit Management (2) Templates & Forms Provide out of the box audit templates and forms for various processes and industries. Checklists Provides checklists Show More ##### ## Reporting & Analytics - Audit Management (3) Dashboard 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. Industry Compliance Ensures audits are compliant with industry-specific regulations and standards. Show More ##### ## Platform AI Features - Policy Management (2) Reports Can generate reports on policy compliance trends using AI. Workflow Management Uses AI to automate common workflow tasks such as policy creation, distribution, and updates. Show More ##### ## 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 Show More ##### ## Agentic AI - Budgeting and Forecasting (3) 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 Show More ##### ## AI - Financial Close (4) Autonomous Task Execution Capability to perform complex tasks without constant human input Compliance 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. Analysis Generates AI-assisted financial reports and provides thorough analytical insights. 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