Business Wire and Workiva Partner to Reduce Risk and Streamline the Disclosure Process
By Matt Van Tassel, Manager, Global Disclosure Services
The age-old saying goes “time is money” and for publicly-traded companies, regulatory disclosure is the apex of time-consuming requirements, both in weight of importance and resulting impact on business decisions.
The disclosure process requires material information be managed during an often complex and prolonged undertaking. Specifically, material information is often input into multiple platforms, thus introducing the potential for version control issues.
Therefore, based on feedback from of our customers, Business Wire has decided to streamline the material information disclosure process by partnering with market-leader Workiva. Users of Workiva’s Wdesk platform will soon be able to securely submit earnings press releases and other financial disclosures directly to Business Wire via a secure file transfer process. This integration will improve efficiency in the disclosure process by eliminating the need to export your disclosure file from Wdesk before submitting to a newswire for distribution. Wdesk users will be able to seamlessly locate their files in Business Wire’s order-entry system Business Wire Connect, enabling mutual customers to disseminate their messages to the capital markets quickly and securely all from one controlled environment.
Business Wire sought out, and found in Workiva a brand that comprehensively understands the needs of publicly-traded companies. The Wdesk platform aids organizations in collecting, linking, reporting and analyzing business data, and now it feeds directly into Business Wire Connect, strengthening both companies’ ability to provide solutions to clients and partners. Our version of an ideal partnership lies in two brands, already industry leaders, coming together to create something never before available.
Workiva is easy to identify as a leading force, regularly ranking above all other available solutions for collaborative work management platforms. A recent case study conducted by Workiva showed that an Airline client using Wdesk completed their 10-K report three weeks earlier and their 10-Q report two weeks earlier than in previous quarters. That same client realized a 187% ROI and payback in less than three months.
- Reduced Risk: Wdesk will offer a secure connection to Business Wire’s Connect Portal
- Time Savings: There will be no need to export and resave the file from Wdesk before submitting to Business Wire
- There will be no charge for the integration to Wdesk customers
Business Wire’s Security
Business Wire is the only newswire in receipt of a SOC 2 attestation engagement report confirming its adherence to the AICPA’s security standards. The receipt of the SOC 2 report reinforces Business Wire’s continuing commitment to the most stringent security policies and procedures in the industry. Additionally, Business Wire is the only industry service provider with a proprietary, patented distribution platform for your important corporate news.
The new functionality will be available to customers in the first calendar quarter of 2017.
Learn more about Workiva and Wdesk and the benefits of Business Wire’s new partnership.