Workiva Inc. · NYSE:WK
Workiva — Investor Presentation (2016)
34 slides from Workiva's investor presentation, 2016
Slide 1: Last Mile of Analytics
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Slide 2: The Last Mile of Analytics: Get More Out of Your Trusted Numbers
The Last Mile of Analytics: Get More Out of Your Trusted Numbers Nancy Miller, CPA, Senior Manager Strategy and Thought Leadership, Workiva Mike Rost, Vice President, Corporate Marketing The contents of this presentation are confidential. Copyright © 2016 Workiva.
Slide 3: Nancy Miller Mike Rost
Nancy Miller Mike Rost CPA, Senior Manager Strategy Vice President, and Thought Leadership Corporate Marketing ©2015 Workiva
Slide 4: Questions
Questions Thank you for joining us today! 4: Mm Playing racevea but none nave been ee trea unless the Presentor cnootes to make fnem available ©2015 Workiva
Slide 5: Obtaining Your CPE Credit
Obtaining Your CPE Credit • One hour of CPE credit • Four attendance questions asked during webinar • Logged in with correct contact information ©2015 Workiva
Slide 6: Agenda
Agenda • The importance of the last mile of analytics • Discuss challenges organizations have in managing last mile of analytic activities • Provide suggestions on how to overcome challenges in the last mile of analytics
Slide 7: 1st CPE Question
1st CPE Question Concerning the large volumes of data available, what aspect does your company struggle with the most?
Slide 8: Finance Professionals - A Focus on Analytics
Finance Professionals - A Focus on Analytics • Analytics is a vital part of the finance function • ERP systems play a unique and important role in financial analytics. However, ERP applications do not provide all the analytic capabilities required to support the needs of the finance function • No an
Slide 9: Gartner/FEI 2016 Study
Gartner/FEI 2016 Study Source Gartner July 2016
Slide 10: Gartner/FEI 2016 Study
Gartner/FEI 2016 Study Source Gartner July 2016
Slide 11: Gartner/FEI 2016 Study - Top Areas for Improvement
Gartner/FEI 2016 Study - Top Areas for Improvement • Facilitating analysis and decision-making • Quality of data in business decisions • Creating an effective environment for sharing information
Slide 12: The Concept of the Last Mile - Telecommunications
The Concept of the Last Mile - Telecommunications The last mile: “the final leg of delivering connectivity from a communications provider to a customer." • The last mile is about communication and understanding • The last mile is where significant complexity lies • The last mile is where the insight
Slide 13: The Concept of the Last Mile - Finance/Analytics
The Concept of the Last Mile - Finance/Analytics The last mile: “the final leg of delivering connectivity from the finance team to management, executives and the board" • The last mile is about communication and understanding • The last mile is where significant complexity lies in the final "as-repo
Slide 14: Last Mile of Analytics Activities
Last Mile of Analytics Activities • Performance reporting • Board reporting • Monthly/quarterly operational reviews • Ad-hoc and departmental reports: tell the story behind the numbers—linking the numbers and the narrative
Slide 15: 2nd CPE Question
2nd CPE Question What's your biggest challenge in the last mile of analytics?
Slide 16: Challenges With the Last Mile of Analytics
Challenges With the Last Mile of Analytics • Standardization, consistency, and accuracy of data • Connecting, sharing, and repurposing data • Telling the story behind the numbers—linking the numbers and the narrative • Supporting technology—managing emails, documents, and spreadsheets
Slide 17: Challenge: Standardization, Consistency, Accuracy
Challenge: Standardization, Consistency, Accuracy • Multiple business units, legal entities, reporting regulations and standards, and reporting systems • Multiple stakeholders with different demands • Multiple frequencies and formats—all of which usually are manually collected and aggregated • Accur
Slide 18: Challenge: Connecting, Sharing, and Repurposing
Challenge: Connecting, Sharing, and Repurposing • Disparate systems and functional silos make connecting data difficult at any level of the organization • Constant changes and moving—numbers and narratives—throughout the value chain and reporting process need to be connected • Collaboration challeng
Slide 19: Challenge: Telling the Story Behind the Numbers
Challenge: Telling the Story Behind the Numbers • Inability to connect multiple types of information easily • Must give context to data to inform decision makers • Too much time chasing and connecting data—including text • Need to keep up with data real time
Slide 20: Challenge: Technology Shortfalls
Challenge: Technology Shortfalls Data access and manual processes • Desktop spreadsheets work fine for individual tactical projects—but fall short for robust planning or collaborative reporting • The problem is magnified when you are using desktop spreadsheets to manage data • Collection of data • V
Slide 21: Challenge: Technology Shortfalls
Challenge: Technology Shortfalls Data integrity and quality • Common issues include: • Errors • Version control • Untraceable data and lack of audit trails • Data context matters • Excel® doesn't know what kind of data you have • You can't combine narrative and data • You can't give data real contex
Slide 22: 3rd CPE Question
3rd CPE Question Do you currently leverage technology that satisfies your last mile of analytic needs?
Slide 23: We Won't Overcome These Challenges Unless...
We Won't Overcome These Challenges Unless... Improve finance performance management capability: If finance is to effectively add value across the enterprise, it must first demonstrate efficiency and value within its own business processes. • Hackett Group has found that companies with superior enter
Slide 24: Start Somewhere
Start Somewhere • Finance departments have long needed to automate the assembly of reporting • Assess what's going on—what do you need and what's available to provide solutions • Create a strategy to move forward for attainable results • Grab "quick and easy" wins first, then target more complex rep
Slide 25: Technology to Solve the Last Mile of Analytics
Technology to Solve the Last Mile of Analytics As modern finance and operations teams struggle with becoming "data-driven" to support modern finance initiatives, it is important to understand what constitutes "smart data." Smart data is: • Relevant - Relevant information simply is information that m
Slide 26: Single Source of Truth
Single Source of Truth Data is global and highly distributed; harness both structured system data and unstructured data creating a single source of the truth for all as-reported data • Accept that data is not globally consistent due to a diversity of definitions and structures that can exist within
Slide 27: Repeatable Reporting Frameworks
Repeatable Reporting Frameworks • Multiple users can edit the document at the same time without version control issues • Both document and presentation formats, including charts, that can be linked to the "as-reported datastore" • Table templates designed for accounting and finance formatting • A fu
Slide 28: Connect the Dots: Faster, Smarter Decision-Making
Connect the Dots: Faster, Smarter Decision-Making Decide with confidence based on trusted data and reports, enabling better and faster decision-making • Critical decisions are made off of the reports provided; the as-reported dataset should contain smart data and narrative. • A true as-reported data
Slide 29: Digital Review and Mobile Access
Digital Review and Mobile Access The distribution of reports for review is often overlooked • Drafts need to be distributed to different review groups with the workflow being managed by the authoring team • Comments from reviewers should automatically be aggregated and displayed in the authoring env
Slide 30: 4th CPE Question
4th CPE Question What's your biggest challenge in change management?
Slide 31: Last Mile of Analytics - Next Steps
Last Mile of Analytics - Next Steps • Assess your current situation. Take inventory of reports and activities • Have a single source of trust by creating trusted datasets which are linked and aggregated throughout documents, spreadsheets, presentations, and reports • Have a repeatable and sustainabi
Slide 32: Join the Conversation!
Join the Conversation! We'd love to hear from you! Join your peers and industry thought leaders through these channels: • Join the SEC or SOX pro groups • secprofessionals.org • soxprofressionals.org • Follow us on LinkedIn • Linkedin.com/company/workiva • Contact us directly! • info@workiva.com
Slide 33: Questions?
Questions? webinars@workiva.com The contents of this presentation are confidential. Copyright © 2016 Workiva.
Slide 34: Contact Us
Contact Us For more information: • P: 888.275.3125 • webinars@workiva.com • www.workiva.com The contents of this presentation are confidential. Copyright © 2016 Workiva.