Financial Technology Company Runs Its IPO with Workiva
Disconnected Challenges
- Inefficient manual processes
- Risk of missed comments, miscommunication, or wrong numbers with manual updating
- Down time while waiting for a traditional printer to process comments
Connected Results
- Linked data so the team can update a number at the source and automatically update it wherever it is linked
- Ability to edit their own SEC filings
- Time savings, efficiency, and control
Why They Chose Workiva
Workiva Solutions
- Capital Market Transactions
Moving on from handwritten markups
Freida Lo, Director of Technical Accounting and Reporting at a financial technology company, says her senior leaders believe in efficiency, being innovative, and using new technology. Preparing IPO documents by printing PDF files, handwriting comments, and sending markups to a traditional printer didn’t sound efficient or modern to them. By using the Workiva platform, the company replaced the need to use a financial printer for capital market transactions.
Learning about Workiva was “a life change”
During Freida’s tenure as an auditor in public accounting, preparing documents to submit to the Securities and Exchange Commission was an extremely manual process. “When I first learned about Workiva, honestly it was a life change,” she said.
She cites three main benefits of using the Workiva platform over a traditional printer for an IPO:
- Linking. You can update a number in one place and automatically update it wherever the number is linked throughout your document.
- Direct commenting. Collaborators can leave questions and responses for each other right next to the section where there’s discussion.
- Control. Workiva platform users have control of their documents from the time they start writing to when they’re ready to file with the SEC.
Sharing the wealth
Now that the company is public, it uses the Workiva platform for SEC reporting and internal controls management.
Request a demo at workiva.com/request-demo to see for yourself how you can accelerate reporting with Workiva.
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