Multinational Westcoast Updates Their Financial Reporting and Controls Process With Workiva

Having seen quick results using Workiva for financial reporting across several countries, multinational Westcoast decided to formalise their risk and controls process by bringing them onto the same platform. Find out how Workiva is helping them establish a single source of truth as the company continues to expand. 

For Westcoast, continued growth called for new reporting and controls processes

Multinational Westcoast Group provides both traditional and digital  IT distribution services across the UK and Europe. A recent surge in both size and revenue meant that their financial reporting and controls processes were struggling to keep up. Luckily, Head of Group Finance Martha Anne Perez was already familiar with the Workiva platform from her decade working in external audit—and she felt confident that it was the solution they needed.

Quick results: Happier auditors, lower costs and significant time saved

The team first adopted Workiva to address the version control and collaboration issues that had been causing delays in their multi-entity financial reporting. Following a smooth onboarding process and quick results, they chose to expand to governance, risk and controls (GRC). 

"Using Workiva for our financial reporting, we saved ourselves significant time. Our auditors now have more confidence in our process, which we hope will help us drive down fees going forward. Between the excellent support we received and these quick results, it made sense for us to formalise our risk and controls process by bringing it onto the platform as well." 

Bringing reporting and controls onto one platform for a better return on investment

For Martha and Westcoast, choosing new technology is no small decision. "The cost, time and people involved in the buying process is serious business for us. Before you can convince anyone else, you need to be clear on your own objectives with the platform. I knew we needed a solution that could interlink our information while being intuitive enough for everyone to use. If you're passionate and understand the value your solution will provide, the conversation is much easier to have."

See how the Workiva platform can simplify your audit, risk, and compliance processes. Request a demo today.