Workiva (WK) Stifel 2024 Cross Sector Insight Conference summary

Business overview and platform evolution

• Offers a cloud-native platform for assured integrated reporting, combining financial, ESG, and GRC capabilities.

• Over 6,000 global customers, with significant opportunity for account expansion and new customer acquisition.

• Platform uniquely integrates financial and non-financial data with audit and assurance features.

• Growth strategy focuses on best-of-breed capabilities, global expansion, and strong partner ecosystem.

• ESG and sustainability reporting have become top booking solutions in recent quarters.

Market dynamics and regulatory tailwinds

• Regulatory changes like CSRD in Europe and new California and SEC rules are driving demand for integrated reporting.

• CSRD compliance will be phased in through 2028–2030, with 10,000–15,000 companies as potential targets.

• U.S. companies with material business in Europe will need to comply with CSRD.

• Regulatory requirements are creating durable, long-term growth opportunities rather than a sudden surge.

• Global expansion, especially in Europe and APAC, is a key growth vector, supported by localization and partner-first strategies.

Sales strategy and organizational changes

• Evolving from single-solution to multi-solution and platform sales, requiring new sales skills and leadership.

• Recent hires from companies with large-scale partner sales experience; focus on sales enablement and strategic account planning.

• U.S. excels in direct sales and account expansion, while Europe and APAC lead in partner-driven sales.

• Sales organization is being restructured for efficiency, with differentiation between hunter and farmer roles.

• Emphasis on value-based selling and business case development in a more scrutinized economic environment.