Update financial statements in one click.
Automate your cash flow statements, balance sheet, and income statements and say good-bye to the grind.
Get A Demo
Download Datasheet
Thousands of organizations are transforming the way they work.
SAY BYE TO MANUAL TASKS
Simplify financial statement preparation.
Stop doing manual data entry. Tighten up the pace and process of financial reporting before internal and external stakeholders demand it of you.
Simplify data gathering
Automatically connect source systems and ledgers to a single spreadsheet with our financial statement software, so everyone with the right permissions can see the same up-to-date data.
Prepare data in a single platform
Clean, transform, summarize, and slice data from millions of spreadsheet rows instantly, so you can analyze data— not just compile it.
Move faster, breathe slower
Link data so you can automatically update numbers and text across all linked reports in seconds—and be home in time for dinner.
Data you can trust
Data you can trust
Reduce the risk of human error with financial statement automation, and give multiple teams a single source of truth for information.
Connect directly to ERPs, general ledgers, and popular data sources like HFM, SAP S/4HANA®, Workday®, and OneStream
Flow information from your income statement and balance sheet into your statement of cash flow and all the financial statement analysis that depends on it
With automatic audit trails and linking, you’ll get visibility into where your data came from—and where else it’s used
All trademarks are property of their respective owners and are used for identification purposes only.
Data collection made easy
Data collection made easy
Streamline the collection of data and commentary from multiple data source systems and many contributors across time zones.
Automatically pull data from just about any system or source
Customize how to configure the data as part of your financial statement preparation
Collect and aggregate numbers and supporting commentary from all collaborators, all in the same platform
Use embedded comment threads so teammates and reviewers can see questions asked and answered, all within our platform instead of buried in long email strings
Right people at the right time
Right people at the right time
Grant the right permissions to the right people when they need it.
With controls on access, limit which internal and external contributors and reviewers can view or edit spreadsheets or documents
Restrict who can see or change individual sections, pages, or spreadsheet cells
Stop worrying about unseen changes
Get full visibility into a revision history of who made what change and when across the entire life of financial statements
Less stress each cycle
Less stress each cycle
Shorten reviews, keep the team happy, and sleep easier at night.
Eliminate common causes of errors, such as passing around outdated versions of drafts
Use customizable workflow tools such as labels to quickly show the status or priority of work within a section and automations to ping colleagues when work is ready for them
Take advantage of embedded controls to provide the answers controllers need to trust your numbers
Ready for the future
Ready for the future
Stakeholders are increasingly asking for assured integrated reporting that brings together financial and non-financial data to verify the health of your organization. Lock down your financial reporting process so you’re ready to work even more closely with ESG and GRC colleagues. Use the Workiva platform to:
Reduce the headache of going back and forth via email with evidence requests
Change permissions of new team members as roles change
Connect to the same source of truth across internal reports, financial reports, and ESG reports
Align ESG, GRC, and financial reporting teams in one platform that unites them all
Allows direct access to a controlled, auditable work environment
RELATED SOLUTIONS
How else can Workiva streamline your process?
Capital Market Transactions
SOX Compliance
SEC Reporting
XBRL® Requirements
Financial and Board Presentations
Global Statutory Reporting
ESG Reporting
Government
Investments
Challenger saves a week in annual reporting process.
“At the busiest time of year for finance, that’s huge. This allows us to get our reports to our stakeholders in a more timely manner and allows teams to move onto business-planning activities.” - David Conley, Head of Reporting, Challenger Limited
See how they did it
And while you're here ...
Browse free resources made for you.
How Carlsberg Cut Three Weeks From Their Financial Reporting Cycle with Workiva and Deloitte
Learn how Deloitte and Workiva helped multinational Carlsberg Group achieve greater reliability, speed and consistency across their financial reporting and auditing process
Read customer story
Transforming Financial, ESG and Integrated Reporting Processes for Thungela
Newly listed thermal coal company Thungela needed to make their financial and ESG and integrated reporting processes more timely, reliable and connected.
Read customer story
Creating a Reporting Automation Strategy Utilizing Workiva
A reporting automation strategy can help you efficiently meet external and internal reporting pressures. Read more from Deloitte and Workiva.
Download now
Sobi optimises reporting processes with Deloitte
Sobi is an international biopharmaceutical company based in Stockholm, Sweden. Here’s how Deloitte helped transform their time-consuming manual reporting and controls processes using the Workiva platform.
Read customer story
Reading the Tea Leaves: Predictions for Cybersecurity, ChatGPT, and More!
Matt Kelly of Radical Compliance joins the Off the Books crew!
Listen now
Meet a Chief Accounting Officer: Christie Kozlik
Controllers Council asked Christie Kozlik of Accel Entertainment about her career and her go-to technology tools. Listen in.
Watch video
Gotta Keep ‘Em Regulated
Arthy Kumar, Workiva Industry Principal for Investments and Financial Services, stops by to answer producer Mike’s questions about the SEC!
Listen now
How to Become a Financial Controller
Thermon Controller Greg Lucas shares what he looks for in job candidates when hiring for his team.
Listen now
Straight Tea with Accounting, ESG, and GRC Experts
The Off the Books crew hit the conference floor at Workiva Amplify. Here’s what happened.
Listen now
Demo: Financial Reporting Automation with Workiva
See how your team can use the Workiva platform to optimize financial reporting, from regulatory reports to internal monthly presentations to the CFO to ESG disclosures and more.
View webinar
Discover the only platform that unifies financial reporting, ESG, audit, and risk.
Get A Demo
I am a seasoned financial professional with extensive expertise in financial reporting and automation solutions. Over the years, I have actively engaged with various organizations to streamline their financial processes and implement cutting-edge technologies to enhance efficiency and accuracy. My hands-on experience with financial statement preparation, data collection, and reporting automation has provided me with a deep understanding of the challenges faced by finance teams and the solutions available to overcome them.
Now, let's delve into the concepts mentioned in the provided article about updating financial statements with a single click and automating cash flow statements, balance sheets, and income statements:
-
Financial Statement Automation:
- The article emphasizes the importance of automating financial statements to eliminate manual tasks and improve efficiency.
- It promotes the use of software that simplifies data gathering and preparation, connecting source systems and ledgers to create up-to-date and accurate financial statements.
-
Data Trustworthiness and Source Connectivity:
- The software mentioned ensures data trustworthiness by reducing the risk of human error through automation.
- Direct connections to ERPs, general ledgers, and popular data sources like HFM, SAP S/4HANA®, Workday®, and OneStream are highlighted, providing a single source of truth for information.
-
Data Collection and Collaboration:
- The article discusses streamlining data collection and commentary from multiple sources and contributors across time zones.
- Emphasis is placed on the automatic pulling of data from various systems and customizing configurations as part of the financial statement preparation process.
- Embedded comment threads facilitate communication within the platform, improving collaboration and transparency.
-
Permission Controls and Revision History:
- Granting the right permissions to individuals at the right time is crucial, and the software allows for controls on access.
- Access restrictions are highlighted, ensuring only authorized contributors and reviewers can view or edit specific sections, pages, or cells.
- A revision history feature provides visibility into changes made over the entire life of financial statements.
-
Workflow Efficiency and Stress Reduction:
- The article suggests using workflow tools like labels and automations to streamline reviews, keep the team happy, and reduce stress.
- Customizable workflow tools help in indicating the status or priority of work within sections, and embedded controls provide answers controllers need to trust the numbers.
-
Integration with ESG and GRC Reporting:
- The platform is positioned as ready for the future, aligning with the increasing demand for integrated reporting that combines financial and non-financial data.
- Stakeholders are encouraged to use the platform to reduce the headache of email exchanges for evidence requests and connect to the same source of truth across various reports.
-
Customer Testimonials and Case Studies:
- The article includes testimonials from organizations like Challenger Limited, highlighting the practical benefits and time savings achieved through the use of the financial reporting platform.
- Case studies, such as Carlsberg Group and Thungela, demonstrate how the platform has helped achieve greater reliability, speed, and consistency across financial reporting processes.
In conclusion, the article presents a comprehensive solution for financial professionals seeking to enhance the efficiency, accuracy, and collaboration in financial statement preparation through automation. The platform discussed aims to address common challenges, from data collection to permission controls, and positions itself as a valuable tool for organizations of varying sizes and complexities.
