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Workiva vs NAVEX Global

Last Updated: November 18th, 2024

Our analysts compared Workiva vs NAVEX Global 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.

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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.

Navex Global provides integrated security and compliance management solutions that handle a full range of risk assessments and response protocols. Its reporting and analysis modules track people risk, regulatory risk, business risk and environment, social and governance (ESG) risk. Feedback-driven reporting increases the visibility of opportunities and achievements. Automatically secures users against data breaches, workplace hazards, vendor compliance failures, production disruptions, regulation compliance failures and more with its highly configurable interface.

It compares resource, third-party, performance and corporate data to generate sustainability reports. Provides legally vetted compliance, cybersecurity and ethical training for employees.

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Small

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Small

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Large

Windows

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Chromebook

Windows

Mac

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Android

Chromebook

Cloud

On-Premise

Mobile

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Product Assistance

Documentation

In Person

Live Online

Videos

Webinars

Documentation

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Videos

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Phone

Chat

FAQ

Forum

Knowledge Base

24/7 Live Support

Phone

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24/7 Live Support

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.

Adjustable Hotline: Includes the option to scale up the reach of the EthicsPoint reporting platform.
Extensive Training Resources: Training modules come equipped with a variety of content, especially for HIPAA and compliance training.
Custom Training: Familiarize freshers with company policies and training resources.
Record Document Changes: Track all changes made to a document with complete version control.
Increase Brand Awareness: Customize the platform to showcase the company’s brand and feel.

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.

Email: [email protected].

Phone: (800) 706-6526. Additional phone numbers for customers in other regions are available on the vendor’s website.

Training: 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.

Tickets: Visit the vendor’s website to submit a support ticket.

IT Risk Management: Maintain a complete inventory of all IT assets. Get contextual insights into IT risks, exploits and vulnerabilities. Prioritize investigation and triage responses based on estimated impact on business processes.
- Monitor Performance: Use the dashboard to track daily activities and risk assessment programs. Monitor program performance based on KPIs and KRIs.
- Streamlined Data: Categorize all internal and external data into actionable information. Automatically consolidate, correlate and deduplicate data to improve threat response rate.
- Business Protection: Implement best practice strategies to predict and debilitate future breaches. Analyze the impact of disruptions on different departments and create recovery plans to ensure continuity.
- Constant Security: Monitor risks in real time with continuous evaluation of risk profiles, strategies, compliance posture, remediation processes and obligations.
- Compliance: Use the compliance program to continuously check for changes in contractual obligations, certification laws, industry standards and regulatory requirements. Automate data entry for all compliance-related activities.
Health and Safety: Address health and safety concerns with a compliance program designed to follow multiple regulations. Catalog all work-related incidents to process reports faster and mitigate the risk of future occurrences. Improve visibility into hazardous incidents by collaborating across various departments and units.
Third-Party Risk Management: Maintain complete visibility over third-party risks by centralizing vendor information and risk assessment data. Automate risk investigation and remediation with preconfigured frameworks and controls.
- Third-Party Compliance: Prepare and issue policies for third parties. Check vendor compliance posture with regular tests.
Business Continuity Management: Test key assets to study the impact of potential disruptions and breaches on business continuity. Benchmark the effectiveness of preventive programs and scan the system for disruptive changes.
- Templates: Streamline the organization’s resilience and recovery program with best-practice templates and contextual reports.
Privacy, Risk and Compliance Management: Create a privacy program to identify and manage compliance requirements like CCPA, HIPAA, GLBA and more. Safeguard client data with time-tested security frameworks and policies.
- Privacy Objectives: Clearly define the organization’s data privacy standards. Track data processing activities and analyze the potential impact of privacy breaches.
Operational Risk Management: Ensure continuity of operations with a contextual understanding of business processes. Get a 360-degree view of enterprise risk with the centralization of all regulatory information and risk data. Monitor for changes in the risk and compliance environment and adapt the risk profile accordingly.

Product Ranking

#9

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#25

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Analyst Rating Summary

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User Sentiment Summary

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.

77%

of users recommend this product

NAVEX Global has a 'good' User Satisfaction Rating of 77% when considering 47 user reviews from 3 recognized software review sites.

4.6 (58)

3.6 (17)

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3.93 (22)

4.6 (36)

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4.6 (493)

4.3 (8)

Awards

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.

Functionality: All the users who reviewed this aspect were satisfied with the platform’s functionalities, especially the EthicsPoint reporting hotline.

Ease of Use: According to 63% of users who reviewed this element, the system's intuitive UI makes it easy to navigate.

Performance: 71% of reviewers mentioning this aspect expressed satisfaction with the platform’s performance and uptime.

Training Resources: Regarding this feature, 92% of reviewers said that the training material has high-quality content.

Data Management: 80% of users who reviewed this feature were pleased with data management capabilities, particularly data organization, storage and search functions.

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.

Service and Support: Customer support is rigid, unfriendly and unprofessional, according to 85% of reviewers talking about this element.

Cost: 100% of users who mentioned this aspect said the licensing charges are unflinchingly high.

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.

Navex Global offers integrated risk management solutions for all business sectors. The EthicsPoint reporting hotline makes it the gold standard for ethics and compliance solutions. On top of that, it has an impressive knowledge base. Its reliable uptime provides real-time access to all your data. However, the customer service is unflattering. Subscription charges are expensive, and contract negotiations are long and difficult. Navex Global makes sense as an acquisition if you need an ethics and compliance management solution, but better risk management systems are available with a superior price to performance ratio.

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FAQ

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