Workiva vs ComplyWorks

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Our analysts compared Workiva vs ComplyWorks based on data from our 400+ point analysis of Risk Management Software, user reviews and our own crowdsourced data from our free software selection platform.

ComplyWorks Software Tool

Product Basics

Workiva is a cloud-based reporting platform that globally connects an organization’s workforce with its data sets and data sources. It combines all user data under a single digital roof to remove any errors and ensure complete transparency. Provides automatic and secure scheduling of repetitive tasks and recycles redundant data and reports into functional assets. It allows users to visualize data relating to ERP, consolidation, compliance, security, budgeting and more by connecting everything under one secure reporting module.

A live-updating dashboard with a code-free interface allows for easy analysis and data reporting. It auto-updates linked cross-organizational data for a seamless reporting experience.
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ComplyWorks offers a comprehensive software solution designed to streamline risk management and compliance tasks. This platform is particularly well-suited for industries with stringent regulatory requirements, such as construction, energy, and manufacturing, due to its robust capabilities in managing contractor compliance, safety protocols, and workforce qualifications. Users appreciate the software's intuitive interface, which simplifies the tracking of compliance documents and the monitoring of risk factors in real-time.

One of the standout features is its ability to automate compliance workflows, reducing administrative burdens and minimizing human error. Additionally, the software provides detailed analytics and reporting tools, enabling organizations to make informed decisions based on accurate data. Pricing for ComplyWorks typically varies based on the number of users and the specific modules required, with options for monthly or annual payments, making it flexible for different budgetary needs.

Compared to similar products, users often highlight ComplyWorks' user-friendly design and the efficiency it brings to compliance management. The platform's ability to integrate seamlessly with existing systems further enhances its appeal, ensuring a smooth transition and ongoing operation. Overall, ComplyWorks stands out for its reliability and effectiveness in mitigating risks and ensuring compliance.

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Product Insights

  • Centralized Data Storage: Store all internal control tests and documents in one centrally accessible database.  
  • Automated Reports: Save a ton of time and resources with built-in automation for regulatory and financial reporting processes. 
  • Intuitive Accounting Interface: Employees can adjust faster to the accounting module due to the platform’s visual and functional similarity with Word and Excel. 
  • Fast Data Access: Quickly access all necessary data and reports from anywhere within the U.S. Instantaneously update all changes throughout the server and eliminate inconsistencies in datasets. 
  • Easy Data Sync: Automatically update data across multiple documents in real time by linking to each other. Save time spent on manual edits and deduplication. 
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  • Enhanced Compliance: ComplyWorks ensures that your organization adheres to industry regulations and standards, reducing the risk of non-compliance penalties.
  • Streamlined Processes: By automating compliance tasks, the software minimizes manual effort, allowing your team to focus on core business activities.
  • Improved Risk Management: The platform provides tools to identify, assess, and mitigate risks, enhancing overall organizational safety and security.
  • Centralized Data Management: ComplyWorks consolidates all compliance-related data in one place, making it easier to access and manage information.
  • Real-Time Monitoring: The software offers real-time tracking of compliance status, enabling prompt action on any issues that arise.
  • Customizable Reporting: Generate tailored reports to meet specific regulatory requirements or internal needs, facilitating better decision-making.
  • Cost Efficiency: By reducing the need for manual compliance checks and minimizing the risk of fines, ComplyWorks can lead to significant cost savings.
  • Enhanced Accountability: Assign and track compliance tasks to specific team members, ensuring clear responsibility and accountability.
  • Scalability: The platform can grow with your organization, accommodating increasing compliance needs as your business expands.
  • Audit Readiness: Maintain a comprehensive audit trail with detailed records of compliance activities, simplifying the audit process.
  • Vendor Management: Efficiently manage and monitor third-party vendors to ensure they meet your compliance standards.
  • Training and Certification Tracking: Keep track of employee training and certifications, ensuring that all staff are qualified and compliant.
  • Enhanced Collaboration: Facilitate better communication and collaboration among team members through shared access to compliance data and tasks.
  • Proactive Issue Resolution: Identify potential compliance issues before they become problems, allowing for proactive resolution.
  • Regulatory Updates: Stay informed about changes in regulations and standards, ensuring your compliance practices are always up-to-date.
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  • Enterprise Risk: Get a 360-degree picture of risk with dedicated assessment and remediation capabilities. Generate reports and perform internal audits to make informed business decisions. 
    • Risk Assessment: Track and assess risks in real time. Prepare risk assessment spreadsheets and act on critical risk information first. 
    • Aggregation and Analysis: Correlate and analyze multiple data sources to find the complete context behind risk information. Categorize risks by datasets like historic risk ratings, risk owners, pillars and more. 
    • Risk Prioritization: Prioritize critical risk throughout the environment with key risk indicator (KRI) information. 
    • Risk Reporting: Create up-to-date risk reports with data visualization options. Combine information from KRIs and risk owners with heat maps, graphs and scatter and bubble charts to prepare reports on enterprise risk. 
  • Internal Audit Management: Streamline the auditing process with custom templates and automated evidence gathering, certification, reporting and planning tools. Access relevant data, manage audits and follow up on tasks. 
    • Audit Analytics: Automatically populate audit reports in a no-code environment to highlight any exceptions. 
    • Templates: Process audits faster with over 3,000 purpose-built AuditNet templates. 
    • Audit Reporting: Increase stakeholder and audit committee engagement with personalized audit reports. Tailor reports accordingly by elaborating on specific details. 
    • Follow Up: Automatically drill down into complicated reports to elaborate on observations and recommended courses of action. 
  • Policy and Procedure Management: Manage policies and procedures across the entire organization. Maintain an up-to-date inventory of auditable policies and procedures. 
    • Policy Indexes: Correlate policies with regulations, controls, processes and risks to create an interconnected and centralized master index. Standardize policies with templates and automatically update changes. 
    • Review Permissions: Review and edit documents directly from the platform. Streamline the review process with automated assessments and audits. 
    • Document History: Track all edits to policy documents with full version history. Send documents for bulk approval and leave comments and reviews within the content. 
    • Attestation Tracking: Track policy status, link current document versions and schedule deadlines. Sign and approve policies from any device and export records for auditing purposes. 
  • Internal Controls: Improve the visibility and security of risk information with internal controls. Allow risk and control owners to make updates with full transparency. 
    • Documentation: Implement role-based permissions to control access to information. Review, edit and update files in their native formats with the Microsoft Office 365 integration. Instantly visualize updates by linking data fields to narratives and flowcharts. 
    • Testing: Perform random sampling tests with single or bulk tasks. Monitor test progress, attach samples and communicate results from the dashboard. Automatically corroborate evidence and track response. 
    • Reporting: Run convenient and tailored reports for data fields including issues tracking, COSO mapping, status reporting and more. Deliver accurate risk information to senior management, business partners and stakeholders. 
    • Certification: Leverage letter templates, customizable certificates and reminders to establish an efficient certification process. Sign and approve certificates from any device with an internet connection. 
  • FERC Reporting: Meet the Federal Energy Regulatory Commission’s (FERC) standards with accurate and prompt XBRL tagging. Work on connected datasets in real time to eliminate errors. Supported forms include electric (Form No. 1, 1-F, 3-Q, 714), gas (Form No. 2, 2A, 3Q), oil (Form No. 6, 6-Q) and service companies (Form No. 60). 
  • SEC Reporting: Streamline the preparation and filing of proxy statements, tax disclosures, 10-Qs, 10-Ks, 8-Ks, 20-Fs, Section 16 and more. Comply with European regulations like Solvency II, CIPC, IFRS and more. Link datasets to narratives and consolidate both structured and unstructured information with EDGAR and XBRL services. 
  • Capital Market Transactions: Implement a greater degree of control over debt, equity, IPO and M&A deals. Prepare documentation for capital market transactions, mergers, acquisitions, debt-offerings and take-private deals with preconfigured workflows. 
    • Speed and Accuracy: Link numbers and texts across multiple files to process transactional documentation faster. Streamline the evaluation process by automatically creating review, sign-off and commentary tasks within documents and reports. 
    • Risk Reduction: Eliminate inconsistent numbers, version inaccuracy and certification errors with a single consolidated data source. Maintain accountability, security and transparency with complete version history and permission-based access. 

  • Limitations

    At the time of this review, these are the limitations according to user feedback:

    •  Users located outside the US can experience latency issues in the SOX module. 
    •  The NextGen platform has a few incomplete features and bugs. 
    •  Involves a steep learning curve. 
    •  High subscription charges. 

    Suite Support

    Visit the vendor’s support center to learn more about using the platform; online resources include patch notes, beginner’s guides, articles, hot topics and transition assets. The community forum hosts discussions, events, webinars and feedback.

    mail_outlineEmail: [email protected].
    phonePhone: (800) 706-6526. Additional phone numbers for customers in other regions are available on the vendor’s website.
    schoolTraining: Log in to the vendor’s website to access the Learning Hub. Online training is available in the form of guided courses, videos, newsletters and simulations.
    local_offerTickets: Visit the vendor’s website to submit a support ticket.
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  • Compliance Management: Streamlines the process of ensuring that all contractors and suppliers meet regulatory and internal compliance requirements.
  • Document Management: Centralizes storage and retrieval of critical documents, making it easier to manage and access compliance-related paperwork.
  • Risk Assessment: Provides tools for evaluating and mitigating risks associated with contractors and suppliers, helping to ensure safer operations.
  • Audit Trails: Maintains detailed logs of all compliance activities, offering transparency and accountability for audits and reviews.
  • Automated Notifications: Sends alerts and reminders for upcoming compliance deadlines, reducing the risk of missed obligations.
  • Customizable Dashboards: Offers user-friendly dashboards that can be tailored to display key compliance metrics and performance indicators.
  • Training Management: Tracks and manages training requirements for contractors and employees, ensuring that all personnel are adequately trained.
  • Integration Capabilities: Seamlessly integrates with other enterprise systems, such as ERP and HR software, to provide a unified compliance management solution.
  • Reporting and Analytics: Generates comprehensive reports and analytics to help organizations understand their compliance status and identify areas for improvement.
  • Mobile Access: Allows users to access compliance information and perform tasks from mobile devices, enhancing flexibility and responsiveness.
  • Supplier Management: Facilitates the evaluation and monitoring of suppliers, ensuring they meet the organization's compliance standards.
  • Incident Management: Tracks and manages incidents related to compliance, helping organizations respond quickly and effectively to issues.
  • Workflow Automation: Automates routine compliance tasks, reducing manual effort and increasing efficiency.
  • Security Features: Implements robust security measures to protect sensitive compliance data from unauthorized access and breaches.
  • Scalability: Designed to scale with the organization, accommodating growth and increasing complexity in compliance requirements.
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Product Ranking

#9

among all
Risk Management Software

#54

among all
Risk Management Software

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User Sentiment Summary

Excellent User Sentiment 587 reviews
Great User Sentiment 1 reviews
92%
of users recommend this product

Workiva has a 'excellent' User Satisfaction Rating of 92% when considering 587 user reviews from 3 recognized software review sites.

80%
of users recommend this product

ComplyWorks has a 'great' User Satisfaction Rating of 80% when considering 1 user reviews from 1 recognized software review sites.

4.6 (58)
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4.0 (1)
4.6 (36)
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4.6 (493)
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Awards

Workiva stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award

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Synopsis of User Ratings and Reviews

Functionality: 69% of users who reviewed this aspect were satisfied with the platform’s functionalities, including internal controls and issue Testing, SOX narratives, auditing, and policy management.
Ease of Use: According to 61% of users mentioning this element, the platform’s intuitive UI makes it easy to use.
Sharing and Collaboration: All the users who mentioned this element said the platform made it easier to share documents and collaborate on projects.
Service and Support: 83% of users reviewing customer support said it’s highly responsive and knowledgeable.
Automation: 100% of reviewers mentioning automation found it helpful to learn and apply new formats and automate financial and regulatory processes.
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Easy to Use: Users find the interface intuitive and straightforward, making it easy to navigate and manage risk assessments, even for those new to the platform.
Comprehensive Features: ComplyWorks offers a wide range of features, including risk assessments, audits, policies, and training, allowing users to manage their risk program effectively.
Strong Reporting Capabilities: The platform provides detailed reports and dashboards, giving users a clear picture of their risk profile and allowing them to track progress over time.
Excellent Customer Support: Users consistently praise the responsiveness and helpfulness of the ComplyWorks support team, who are available to assist with any questions or issues.
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Speed and Performance: 100% of users mentioning performance said they experienced bugs, glitches and slow upload and export speed on the NextGen platform.
Cost: All the users who reviewed this aspect found the system’s subscription charges higher than its competitors.
Training Resources: 60% of users mentioning this element said the platform requires more training material to compensate for its steep learning curve.
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Limited Customization: Some users have found the platform's customization options to be limited, making it difficult to tailor the system to their specific risk management needs. For example, they may not be able to create custom reports or dashboards that align with their unique requirements.
Steep Learning Curve: The platform's interface can be complex and challenging to navigate, especially for new users. This can lead to frustration and a longer time to become proficient in using the system.
Integration Challenges: Users have reported difficulties integrating ComplyWorks with other systems they use, such as their CRM or ERP. This can create data silos and make it harder to get a comprehensive view of their risk management activities.
Lack of Mobile App: The absence of a dedicated mobile app can make it inconvenient for users to access and manage their risk management tasks on the go.
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Workiva is a cloud-based comprehensive reporting platform that provides unrestricted global access to FERC and SEC reporting modules, internal controls, and audit and policy management tools for complete in-house risk management. The platform can be difficult to learn initially, but a responsive support team makes it easier to understand the functionalities. In addition, automated reporting processes add a lot of value to the platform. However, the NextGen platform has a few performance issues. Updates can cause temporary glitches and bugs, resulting in unforced errors in datasets. All in all, Workiva is a safe bet for vulnerability management software. In spite of high subscription costs, it’s an excellent candidate if you can fit it into your budget.

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Does ComplyWorks really work to mitigate risk, or does it fall short? User reviews from the past year present a mixed bag. While many appreciate the platform's user-friendliness, particularly when onboarding new contractors, some have voiced concerns about its limitations. For instance, ComplyWorks excels at simplifying contractor additions, allowing businesses to prioritize overall compliance monitoring. However, users looking for robust reporting or advanced analytics might find it lacking compared to competitors like Avetta or ISNetworld. This difference stems from ComplyWorks' focus on ease of use over in-depth data analysis, making it ideal for small to medium-sized businesses prioritizing streamlined contractor management and basic compliance needs. Larger enterprises seeking comprehensive risk analysis tools might require a more feature-rich solution.

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