Jun 11, 2015, 04:05 ET
WASHINGTON, June 11, 2015 /PRNewswire/ -- Workiva (NYSE:WK), creator of the Wdesk cloud-based productivity platform for enterprises, played a key role in yesterday's DATA Act Summit in Washington, D.C. as more than 600 policymakers and others assessed the first-year progress of the Digital Accountability and Transparency Act of 2014 (DATA Act).
"We were proud to be the presenting sponsor of the DATA Act Summit because we strongly support open data for federal government spending," said Matt Rizai, Chairman and CEO of Workiva.
The DATA Act, which was enacted last May, requires the federal government to switch from a process of collecting spending information in disconnected documents and reports to an electronic process using a standardized, open-data format. This includes establishing consistent data standards for federal agencies, grantees and contractors, which aims to increase accountability over how federal funds are received, categorized and spent.
"The movement from static paper documents to dynamic data reporting is a big transformation," said Rizai. "It will rely on sophisticated technology that can help change processes and, in turn, change the way people work."
"Once these government-wide data standards are in place, the technologies that have already been developed by companies such as Workiva can automate compliance and help deliver better accountability and better management," said Hudson Hollister, Executive Director of the Data Transparency Coalition. "Ultimately, the data will flow into the website www.usaspending.gov, which reports on federal contracts, grants, loans and other assistance."
At the DATA Act Summit, discussion focused on data standards announced last month by the U.S. Treasury Department and the White House Office of Management and Budget (OMB). Agencies must comply with the data standards when reporting spending beginning in May 2017. Meanwhile, grantees and contractors will participate in a pilot program to determine whether the same standards should be applied to their reports.
"At Workiva, we encourage accessibility and understanding of how federal dollars are spent, which improves oversight and efficiency," said Rizai. "Our Wdesk technology can help everyone involved comply with the new standards to make federal spending data accessible to all."
Workiva (NYSE:WK) created Wdesk, a cloud-based productivity platform for enterprises to collect, link, report and analyze business data with control and accountability. Thousands of organizations, including over 65% of the Fortune 500, use Wdesk for risk, compliance or management reporting. Wdesk proprietary word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail. Wdesk helps mitigate enterprise risk, improve productivity and give users confidence to make decisions with real-time data. Workiva employs more than 950 people with offices in 15 cities. The company is headquartered in Ames, Iowa. For more information, visit workiva.com.
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