Have anyone compared internal controls capabilities of BWise and Workiva?

Financial Management
2.1k viewscircle icon2 Comments
Sort by:
Head of ISG in Finance (non-banking)2 years ago

When comparing BWise and Workiva for internal control capabilities, consider the specific needs of your organization. Here are some key factors to consider:

Integration Needs: Evaluate which platform better integrates with your existing systems and data sources.

User-Friendliness: Assess which platform is more user-friendly and aligned with your team's skills and preferences.

Scalability: Consider the scalability of the platform to meet your organization's growth and changing internal control needs.

Collaboration: Workiva is known for its collaboration features, so if cross-functional collaboration is a significant requirement, it may be a strong choice.

Cost: Compare the pricing and licensing models of both solutions to ensure they align with your budget.

Regulatory Compliance: Determine which platform offers the features and templates necessary to meet your industry's regulatory requirements.

It's important to involve key stakeholders, including compliance, risk management, and internal control teams, in the evaluation and selection process. Ultimately, the choice between BWise and Workiva should align with your organization's specific internal control needs and overall GRC strategy.

IT Analyst in Media2 years ago

Both BWise and Workiva offer robust features for internal controls, such as control assessments, risk management, audit management, and compliance reporting.If your organization deals with specific compliance requirements (e.g., SOX compliance), ensure that the platform can accommodate these requirements.

Content you might like

We use Excel to consolidate and manage IT budget figures. The annual amount is approximately 30 billion yen. Because many people use it, there are problems with getting accurate figures, such as degradation and errors in Excel functions. We think that dedicated budget management products like Apptio are too expensive for our budget scale. We would like to consider what other options are available. What tools does your company use to collect, consolidate and simulate IT budgets?

Read More Comments

We are considering implementing SAP Fionner FPSL (Financial Products Subledger) in a banking environment and I'm looking to gather insights from those who have already gone through this journey. Key Questions: Implementation Experience: What has been your overall experience implementing SAP Fionner FPSL in a banking environment? What were the most significant challenges you faced? Lessons Learned: If you could restart your implementation, what would you do differently? Were there any particular pitfalls that could have been avoided with better planning? Success Criteria: What were your key success metrics for the implementation? How did you measure whether the project was successful? Cost Optimization: How did you manage to reduce integration costs within your banking ecosystem? What strategies proved most effective for keeping costs under control while maintaining functionality? Integration Challenges: What were the most difficult aspects of integrating FPSL with your existing banking systems? How did you overcome these challenges? Timeline Expectations: How long did your implementation take from planning to go-live? Were there any unexpected delays and how did you address them? Resource Requirements: What was the composition of your implementation team? What skills were most valuable during the implementation process?

Is your budget for HR technology (such as HRIS, payroll, or talent management systems) managed and paid for primarily by the IT department in your organization?

Yes75%

No25%

What percentage of your IT budget is allocated to research and development (R&D) initiatives?

Read More Comments

We have recently established a central FinOps team.  We currently run workloads in Google Cloud and Azure.  So far we have been utilizing the native tools available in both cloud providers to drive our reporting and engagement.  This has delivered some success however we are currently considering options to purchase a specific tool to help improve the service we provide.  I am curious to understand if you have started a FinOps journey whether your using native tooling or have an additional tool?

Only use Cloud Native Tools56%

Utilise a Specific FinOps Tool44%

Have not started FinOps yet13%

View Results