Workiva Modernizes Financial Reporting for California Pension Fund
Wdesk Helps CalPERS Build Comprehensive Annual Report for its $330 Billion Fund
AMES, Iowa--(BUSINESS WIRE)-- Workiva (NYSE:WK), a leading provider of solutions for enterprise productivity, announces that the California Public Employees’ Retirement System (CalPERS) uses Wdesk to save time, streamline processes and improve data quality when creating its Comprehensive Annual Financial Report (CAFR).
A CAFR is a complex financial report that consolidates data from various departments and must be reviewed by an independent auditor to comply with Governmental Accounting Standards Board requirements.
CalPERS – the largest, defined-benefit public pension fund in the U.S. with $330 billion under management – chose Wdesk because they wanted a software platform that could increase efficiency and transparency in their CAFR process from beginning to end.
Wdesk improves collaboration, version control and data consistency throughout the complicated CAFR process. CalPERS uses Wdesk to improve data quality because the platform enables them to link data in a single document. Contributors can input their own data and then link and track that information, so they only have to ask for data once. The pension fund uses Wdesk blacklines and audit trail to ensure accuracy.
The efficiencies gained with Wdesk enables CalPERS to spend more time analyzing their data, conducting research and making decisions.
About Workiva
Workiva (NYSE:WK) delivers Wdesk, an intuitive cloud platform that modernizes how people work within thousands of organizations, including over 70 percent of the FORTUNE 500®. Wdesk helps mitigate risk, improves productivity and gives users confidence in their data-driven decisions. Workiva employs more than 1,200 people with offices in 16 cities. The company is headquartered in Ames, Iowa. For more information, visit workiva.com.
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About CalPERS
For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.8 million members in the CalPERS retirement system and administers benefits for more than 1.4 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. CalPERS' total fund market value currently stands at approximately $330 billion. For more information, visit www.calpers.ca.gov.
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Source: Workiva
Workiva Inc.
Kevin McCarthy, (515) 663-4471
press@workiva.com