Today, we announced a new partnership with Workiva, provider of the world’s leading connected reporting and compliance platform. While both Sentieo and Workiva are excited to work together, the real value of this partnership will be to our mutual customers. At Sentieo, our vision is to accelerate the decision-making of knowledge professionals with the broadest lens of data, workflow, and effortless collaboration. Partnering with Workiva allows us to bring that vision to the teams who produce the SEC filing documents that are a critical part of the content and data we provide to our customers.
For those of you not familiar with Workiva, they are a public company ($WK) that provides a reporting and compliance platform called Wdesk. They are used by thousands of enterprises across the globe, including by over 75% of the Fortune 500*. The SEC reporting teams within these organizations use Workiva’s platform to produce SEC filings and reports in a compliant, accurate, efficient way. Wdesk connects data with context across spreadsheets, documents, and presentations – ensuring reporting teams can trust their document outputs.
So where does Sentieo fit with this? Workiva’s CEO, Marty Vanderploeg, puts it well in our joint press release.
“Our partnership with Sentieo gives our SEC filing customers a powerful research tool at their fingertips, which is essential as pressure grows from investors and regulators to report transparent and accurate data.” – Marty Vanderploeg, CEO of Workiva
Each of these SEC reporting teams is faced with constant change in the accounting standards, business dynamics, and reporting requirements that impact the content of their filings. This means there is a need to produce new content and language for filings on a regular basis. A critical step in that process is understanding how peers or competitors are describing or reporting the impacts of these changes.
With all the filings, presentations, and transcripts published every quarter, filing teams spend hundreds of hours doing research. This is where Sentieo’s corporate research platform, specifically our AI-driven document search (including tools such as Table Explorer and Smart Summary™) can have a material impact on the productivity and job satisfaction of SEC reporting teams. By dramatically reducing the time to find the relevant language and data they require, exposing insights they simply would not have found using legacy tools, and provide a more complete perspective of peers language in their filings, Sentieo and Workiva are providing a new solution to SEC reporting teams.
A great example of how Sentieo will be used by SEC reporting teams is shown below.
Recently, there have been changes made to how organizations must report the financial impact of property leases. Searching using Ctrl-F on an SEC document or using a legacy document search provider won’t deliver the range of language used (through the use of AI and synonyms) or the data associated with the impact of these accounting standards changes (by finding, chaining, and displaying data from tables in filings).
The net is that Sentieo saves SEC and external reporting teams hours of time preparing accurate disclosures with faster peer research; Workiva’s partnership with Sentieo will deliver these benefits to many more SEC reporting teams, saving thousands of hours of research time across these future joint customers.
We’re excited to be partnering with Workiva, and look forward to showing how Sentieo can help SEC reporting teams in our upcoming demo webinar. Sign up now to learn more.