Corporate reporting challenges and manual reporting processes?
Together with PwC's strategic alliance partner Workiva, we help you increasing transparency and automation in financial reporting and become more efficient in your sustainability reporting.
Organisations experience a variety of last mile reporting challenges, including version control issues, internal consistency errors, decentralisation of reports, inefficient collaboration, and time-consuming roll-forward processes. Our human-led and tech-powered approach can help you address many of these issues. By combining our deep industry perspective with our proven technology experience, we can help you solve problems across your business, leveraging the tech and data you already have.
Workiva reporting platform
Workiva is a cloud-based platform that integrates and centralises all aspects of reporting, including ESG/sustainability, financial reporting, risk management and compliance (GRC).
Workiva's platform provides a unified view of all important reporting areas, from financial information to sustainability data. This is especially important in today's fragmented environment where companies often have different systems for different functions.
This enables a smoother and more transparent process for companies to collect, analyse and report their data to stakeholders. Workiva calls this "integrated assurance reporting".
The benefits of PwC and Workiva
The Workiva Platform provides a holistic productivity suite; seamless collaboration and centralised and automated data flow enable organisations to accomplish more with fewer resources. Elevate your finance function roles from data providers to insight generators. Our business knowledge, Workiva experience, and data resources can help turn one of the world’s leading technologies into an optimised tool for tomorrow’s growth.
Shorten the reporting timeline by automating data flow from the source
Reduce risk and increase compliance with a single source of truth
Streamline the reporting process with central data collection
Gain efficiencies with seamless coordination and collaboration among internal and external stakeholders
Increase transparency with an improved audit trail and insights for late adjustments
"Transparency requirements are heavily increasing putting pressure for systems to collect and report data in an efficient manner. Together we help our customers build modern validated process to control and report the versatile data."
How we can help you with Workiva
Workiva’s cloud-based platform streamlines your entire reporting process. You may want to start your Workiva journey with one module and expand the number of modules later. Usually, companies begin their Workiva journey with the financial reporting module and then expand to other modules. Sometimes companies implement several modules at the same time.
We are delighted to help you implement the Workiva platform to simplify your reporting processes. We are flexible with the implementation approach; for instance in financial reporting we can provide the implementation with a Full Service approach or with a lighter Coaching approach based on your request. We are a great partner for your company when establishing new reporting procedures because of our wide expertise in accounting and consolidation, audit, and IFRS Accounting Standards.
Financial reporting
Increased transparency in financial reporting has become a major target in many organisations. Workiva has developed a cloud solution to support organisations that are stuck in manual and time-consuming financial accounting processes for interim and annual reporting.
The Workiva platform provides a clear and structured way to report financial information as well as better governance in your reporting procedures. It allows your colleagues to work simultaneously on one platform, connect your reporting systems to increase accuracy, and reduce manual work by automating reporting. Have a look on Workiva’s financial reporting module.
Reporting according to global regulations
Do you need support in the reporting required according to various global regulations? We can help maximise the benefits of Workiva by using our expertise and experience, either through collaboration with your internal resources or through a fully outsourced service.
Modernising Statutory Financial Statements – An end-to-end solution
Using Workiva, the world’s leading cloud platform for reporting, our end-to-end solution for Statutory Reporting enables us to extract, clean, and reconcile your data to improve accuracy and efficiency, producing audit-ready Statutory Financial Statements and working papers in one controlled platform.
Workiva allows us to work in a way that best suits your needs – insourced, outsourced or hybrid/co-sourced. The single collaborative platform allows us to work with you and your auditors in a controlled, digitised environment, creating one single data set, one version of the truth.
Our use of Workiva enables you to accrue the benefits of this premium product as part of our service, which include:
- Real-time collaboration
- Efficiency for all stakeholders, including auditors
- Automation of linkage and smart collection of data for the SFS, providing more visibility, automation, and efficiency
Sustainability reporting
Your stakeholders want transparent, traceable, and consistent ESG reporting. We have the knowledge and experts who can help you with the laws and regulations that apply to sustainability reporting.
One of Workiva's strengths in this area is the platform's ability to connect multiple data sources, such as consolidation systems, ERP systems, HR systems, and many more. This is particularly important as more and more organisations and companies aim to create an annual report that integrates sustainability reporting with financial reporting.
We can integrate Workiva's ESG reporting platform into our offerings to help you collecting, analysing and reporting ESG data in a consistent and efficient manner.
Read more about the CSRD directive and Workiva.
Risk management and compliance (GRC)
With a unified and clear view of risk management, review, and audit, you gain a more secure overview and better control over the entire compliance and regulatory function. Workiva facilitates and helps you find opportunities to both reduce costs and mitigate risks when data is linked between your financial reports and your ESG and sustainability reports.
We include Workiva's GRC solutions in our offerings to help companies and organisations identify, evaluate, and manage their risks in a proactive, structured, and efficient way. Our experienced advisers contribute expertise in terms of the processes and regulations that you must follow within risk and compliance.
Flexible Workiva platform is suitable for everyone
Workiva's platform is relevant to a broad target group of companies and organisations that strive to improve their reporting process and meet both internal and external requirements for transparency and accountability. The collaboration between Workiva and PwC spans across different industries and company sizes. Companies that need to manage and report large amounts of data are the ones expected to benefit the most from Workiva.
Why PwC?
PwC Finland has a number of Workiva certified professionals ready to support your implementations. PwC has received multiple awards both on global and EMEA level for our partnership with Workiva.
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Janne Suutarinen
Risto Korpi
Janne Suutarinen
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