AMES, Iowa--(BUSINESS WIRE)--Workiva (NYSE:WK), a leading provider of solutions for enterprise productivity, and Fastpath, a leader in audit, security and compliance software, jointly announce today a partnership to help companies automate how they document and test internal controls over financial reporting required by the Sarbanes-Oxley Act (SOX).
“SOX compliance can be challenging because building, implementing and evaluating internal controls requires collaboration across multiple departments, often involving hundreds of co-workers across the globe,” said Matt Rizai, Chairman and CEO of Workiva.
Workiva will integrate its Wdesk platform with Fastpath Assure to provide a comprehensive SOX solution for managing internal controls testing, user access controls and segregation of duties. Enterprises will be able to use Fastpath Assure to automate testing and identify security conflicts within Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and other operational systems and embed and annotate that evidence for internal controls testing in Wdesk.
“We are excited to work with Fastpath to add Wdesk capabilities to their Assure solution, allowing simultaneous collaboration with the perfect mix of control, accountability, documentation and automation of internal controls testing that is essential to auditors, executives and boards,” said Rizai.
“Partnering with SOX market leader Workiva will provide incredible value to our customers,” said Andy Snook, CEO of Fastpath. “SOX compliance requirements can present unique challenges in automated control testing, segregation of duties and broader control testing and documentation. Integrating Wdesk with our Fastpath Assure product will provide a complete SOX solution for our customers that use Oracle, NetSuite, SAP, Salesforce, Intacct and Microsoft Dynamics.”
Key capabilities of this integration will include:
- Evidence Requests - Internal audit teams can request evidence and track responses in Wdesk with a centralized, real-time view of all tasks. Once the evidence is provided, it is automatically attached to the testing document.
- Audit Intelligence - Fastpath Assure has built-in audit intelligence that enables users to efficiently analyze various high-risk enterprise applications for potential segregation of duties conflicts.
- Embedded Evidence - With Wdesk, teams can attach supporting evidence – such as PDFs or common spreadsheet files – directly to testing documents and link that information together, thereby making Wdesk a repository for control information.
The integration of Wdesk and Fastpath Assure will be released in summer 2017.
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 is built upon a data management engine, offering controlled collaboration, data integration, granular permissions and a full audit trail. 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.
Claim not confirmed by FORTUNE or Time Inc. FORTUNE 500® is a registered trademark of Time Inc. and is used under license. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of, Workiva Inc.
At Fastpath, our mission is to deliver software solutions that seamlessly empower our clients to take control of their security, compliance and risk management initiatives.
If you are spending countless hours preparing for your audits, struggling to comply with legislative requirements like Sarbanes Oxley (SOX), HIPAA, FDA, or just need help reviewing who has access to what within your ERP, Fastpath can help.
Fastpath’s suite of tools can help your company with risk analysis, access certification, role management, compliant user provisioning, emergency access management, and Continuous monitoring.
Our tools work across many platforms including Microsoft Dynamics (AX, 365, GP, NAV, SL and CRM), NetSuite, Intacct, Oracle, SAP, Salesforce.com, Financial Force, Zendesk, and Workiva.