Executive People reports: Workiva offers significant time savings through reliable reports

February 12, 2020

First published on Executive People, 12 February, 2020, by Marco van der Hoeven

Significant time savings through reliable reportsWorkiva has opened its new

EMEA office in the former Dutch Bank building in Amsterdam. Workiva Assistant General Manager  of EMEA, Bart van Praag, attributes the importance of opening this new location to the growing demand for the Connected and Compliance Reporting solution that Workiva offers. The team of Executive People and Dutch IT channel spoke with van Praag about the need for reliable and consistent reports.

Compliance processes

Van Praag reports a new client, Alcon, used the Workiva platform to scale up their audit, risk management and Sarbanes Oxley Act (SOX) compliance processes worldwide. Charles Silvey, Global Head of Internal Audit at Alcon, which operates in 70 countries, used Workiva to completely rebuild his department. "I needed a platform that my team could work with more efficiently and effectively," says Silvey. "Once our templates were on the Workiva platform, we no longer had to spend time on administrative tasks such as layout, cutting and pasting. That gave us time to focus on the findings. "

"We save an enormous amount of time with Workiva," says Silvey. “With previous suppliers, it often took three to four months to publish an audit report. With Workiva we were able to publish our latest report within two weeks."

Silvey also uses Workiva to build Alcon's risk management process. "We can combine all our risk and audit data and see immediate added value in the form of time savings," said Silvey. “The Workiva team has really taken the time to understand our needs. They then helped us by building a solution that contained everything we needed for risk management.

Linking Data

The ability to link data from all spreadsheets and reports and to automate processes was the deciding factor for Alcon to use Workiva to monitor and test internal controls for SOX compliance. Thanks to a simple workflow, Silvey and his team can combine their SOX risk management matrix, process descriptions and flowcharts directly in their documents and reports.

"Once I saw the possibilities of the Workiva platform, it was a simple decision to use this platform for SOX compliance," says Silvey. “Now, within a few minutes, SOX administrators know exactly which step of the process they are at. Before we used Workiva, it took days, if not weeks, to get answers like that."

"Workiva makes it possible to deliver valuable information in the hands of the right people very quickly, ”he adds. "They have created new opportunities to improve efficiency, speed and accuracy across the company."

For the latest news an information, visit The Workiva Newsroom

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