Workiva Showcases Growth Strategy, Global Market-Capturing Opportunities, and Platform & Product Innovation at its Annual Analyst & Investor Day
19 September 2023 - 6:01PM
Business Wire
Company strengthens its senior leadership team
to further complement the deep knowledge and expertise of its
existing team
Workiva Inc. (NYSE: WK) today hosted its annual Analyst &
Investor Day in which company management showcased its
momentum-building growth strategy, continued relevance and
opportunities in capturing global markets, and commitment to
relentless platform and product innovation. The company also
announced an enhanced senior leadership team whose deep SaaS
experience will collectively set the strong pace for scaling
Workiva to $1 billion in annual revenue and beyond.
“Workiva is incredibly relevant in a global market that
continues to gain momentum. We have a $25 billion TAM which is
large and relatively untapped. We have been clear that our next
growth target is $1 billion in revenue and we are focused on
driving productivity and performance to reach that objective,” said
CEO Julie Iskow. “We believe we have the right platform, the right
strategy, and the right team to reach that objective and beyond.
The opportunity and our technology is such that Workiva is becoming
the leading technology platform for transparency, regulatory
reporting, and disclosure. We shine where data consistency,
integrity, and accuracy are critical and narrative is
required.”
Workiva Platform Well-Positioned to
Capture Growing Opportunity
Workiva’s cloud technology solves issues that companies must
address: lowering risk, increasing transparency, and making
reporting easier, more efficient, and more streamlined. The
platform also supports requirements that the data be audit-ready
and investor grade.
Workiva is the only unified platform in the industry that brings
together Financial Reporting; Environmental, Social, and Governance
(ESG); and Governance, Risk, and Compliance (GRC) in one secure,
controlled, audit-ready environment. This is Assured Integrated
Reporting.
The company’s growth strategy centers around four key tenets:
Fit-for-Purpose Solutions, Connected Platform, Global Excellence,
and Partner Ecosystem. Since initial execution of its strategy in
2020, Workiva’s revenue has grown from $351.6 million in 2020 to
$537.9 million in 2022, representing a 24% compound annual growth
rate.
Iskow added, “Workiva is powering transparency and impacting
business outcomes. We help companies work smarter, faster, and
respond to stakeholder scrutiny with confidence. What we solve for
is mandatory, not optional. Companies need to comply with
increasing regulations and accuracy in reporting. As the regulatory
environment continues to grow in both scope and complexity, so too
does the need for transparency and disclosure of both financial and
non-financial - or ESG data. It’s who we are and we do it better
than anyone else.”
Transformative Innovations that Create
Value for Customers
With a relentless focus on enhancing openness and extensibility,
Workiva is revolutionizing how businesses tackle reporting,
disclosure, and digital transformation. At the heart of Workiva's
product strategy lies the goal of empowering customers with various
options and critical information. By leveraging the Workiva
platform's functionalities, businesses can elevate their reporting
efforts to unprecedented heights.
“Innovation is in our DNA," said David Haila, Chief Technology
Officer. "From day one, we've been driven to identify opportunities
and challenges for our customers and then create solutions that
transform their ability to succeed in this dynamic world of
regulation and reporting. Through comprehensive customer
engagement, forward-thinking platform envisioning, and rapid
delivery of new capabilities, Workiva remains at the forefront of
the ever-changing marketplace, providing a distinctive edge to our
customers.”
Staying best-of-breed while evolving its solution portfolio
makes innovation a standard operating procedure for the company.
Three focused areas of product investment include:
- Generative AI: Customers can easily leverage Generative
AI on the Workiva platform without moving their data or
compromising data security. It combines Workiva’s differentiated
technology, domain expertise, and data security capabilities. This
transformative technology has the potential to revolutionize the
market, boost productivity, and enable better data-driven
decisions.
- Collaboration with Control: Innovative design
capabilities recently added to serve ESEF and ESG customers are
being extended to the company’s SEC customers. Instead of simply
writing paragraphs that freely flow and compromise the design
aesthetic, designed reporting explicitly places every line of text,
every image, and every chart to preserve accuracy and visual
fidelity in EDGAR. This innovative approach can’t be easily
replicated and further distances Workiva from competitors.
- Unified Platform: A unified platform is critical to
achieving Assured Integrated Reporting. Investments in the Workiva
platform drive new capabilities across all of its best-of-breed
solutions. The company’s R&D team starts with a shared layer of
data across multiple solutions then designs experiences to deliver
outsized benefits of having multiple reporting, sustainability, and
assurance teams all in a single platform. Workiva will continue to
invest in areas where it sees its greatest growth opportunities -
such as its GRC and ESG solution groups.
Organizational Changes to Deliver
Results at Scale
Workiva has enhanced its leadership team with experienced
executives who have proven track records of delivering results at
scale, including Kim Huffman, Chief Information Officer; Junko
Swain, Chief Accounting Officer; Nitin Bhat, Chief Product Officer;
and Noam Bizman, SVP of North American Sales.
“We recently added an infusion of experienced executives to our
senior leadership team to provide the depth and resources we need
to scale our business and meet our growth objectives,” added Iskow.
“They’ve all been at SaaS companies that have scaled beyond a
billion. They also embody Workiva’s values and will add to our
culture and existing leadership team. The entire executive
leadership team is aligned and focused on executing our growth
strategy.”
To Learn More
- Analyst & Investor Day Replay: An archived replay of
the event will be available under the “Events & Presentations”
section on the company's investor relations website shortly after
the conclusion of the meeting.
- Workiva Amplify: Workiva's commitment to innovation and
future-ready solutions is unparalleled. Join us in embracing the
next generation of transformative technologies by registering to
virtually participate in Workiva Amplify (Sept. 19-21, 2023).
About Workiva
Workiva Inc. (NYSE:WK) is on a mission to power transparent
reporting for a better world. We build and deliver the world’s
leading cloud platform for assured integrated reporting to meet
stakeholder demands for action, transparency, and disclosure of
financial and non-financial data. Workiva offers the only unified
SaaS platform that brings customers’ financial reporting,
Environmental, Social, and Governance (ESG), and Governance, Risk,
and Compliance (GRC) together in a controlled, secure, audit-ready
platform. Our platform simplifies the most complex reporting and
disclosure challenges by streamlining processes, connecting data
and teams, and ensuring consistency. Learn more at workiva.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230919424926/en/
Investor: Mike Rost investor@workiva.com
Media: Darcie Brossart press@workiva.com
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