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Workiva has been around for a while now, but as the regulatory landscape gets stricter and the ESG space more competitive, there are already numerous Workiva alternatives that can beat it at its own game.
Sure, you can say that it’s that all-in-one solution for you, but user frustrations keep growing and there are several use cases where Workiva’s competitors just do a better job.
So, how do you know if Workiva is going to be your best match after all? We’re here with research!
Why look for alternatives to Workiva?
Workiva is a platform for corporate reporting, ESG, audit, and risk management. It unites your data, brings departments together, and helps you build one cohesive narrative about the business.
But that’s not all the sides to the picture. Workiva is also a large product with a portfolio of features and many customers, all of which impacts the quality of service, the depth of solutions provided, price, and other factors that can make you reach out to Workiva competitors.
Here’s when you will probably want a replacement and look for tools like Workiva.
- When you are budget sensitive. Workiva comes with a hefty price tag. Yes, you get access to cross-functional features, but that is reflected in the price and if you don’t have the use cases that would maximize tool usage, you’ll end up burning through your budget.
- When you need tailored support. Many users point out that with Workiva one can feel isolated, you don’t always get the customer service required to deliver results. ‘It does feel like a giant organization and at times you can't easily speak to someone,’ a user on G2 says.
- When you don’t have months for onboarding. Because of how complex the product is, you will need take a long time to get your workforce through all the necessary training programs. Users mention that ‘There is a steep learning curve that is required’ and that negatively impacts their experience with this product.
- When you want a tool that’s user-friendly and glitch-free. There’s a price to pay for being ‘something for everyone’ and in Workiva’s case, it’s about the frequent platform breakdowns and an overly complex environment. Users highlight that ‘there are often platform glitches that can be frustrating when you are working on time-sensitive projects’ but also that ‘Workiva can sometimes get bogged down when working in the platform for too long. Simple things like comments and formatting stop working.’
- When you want to finally move away from clunky spreadsheets. If you think it’s finally your time to step out from that Spreadsheets Era, it won’t happen with Workiva. Here, ‘data is still relying on a spreadsheet’ and ‘data collection sheets seem clunky compared to other data collection programs,’ as many users point out on G2.
Top 5 Workiva alternatives for different ESG data management use cases
Whatever your business needs are, there’s probably a Workiva alternative that can easily match it.
Below we have shortlisted those crème de la crème tools you can’t afford to miss in your research.
Best Workiva alternative #1: ESG Flo
If you want to take full control of your ESG data and are ready to see how AI can help you with that, ESG Flo is your stop. Developed within Bain & Company, this software helps you generate ESG audit-ready metrics from raw data, both qualitative and quantitative.
But before we drill deeper into the essence of ESG Flo, let’s first see where the product beats Workiva.
That’s not to mention better product focus and full support from the team when it comes to initial setup, ongoing usage, and continued success within the software.
So why do people choose ESG Flo over Workiva?
For one thing, you can feed it any information like supplier data, invoice documents, HR data, ERP extracts, etc., and it will automatically generate relevant reports following any framework you choose. It can also help you analyze and further manage your carbon footprint with Scope 1, 2, and 3 emissions insights.
When it comes to ESG Flo’s AI specifically, it will help you with anything from invoice data extraction and qualitative data extraction to anomaly detection, smart emission factor matching, and cross-framework interoperability.
💡Relevant: How EnerSys uses GenAI to drive efficiency, ensure accuracy, and safeguard sustainability & ESG data
ESG Flo is your silver bullet solution for all things ESG, and that even includes relevant consulting services and support. Whether it’s double materiality assessment, gap assessment, CDP submission or something else — this Workiva alternative can easily cut through the noise of competition and scale along with your business.
‘This is a one-stop-shop for us. We don’t have to go to multiple data owners to get information. The tool does exactly what we need it to."’- Sonali Samani, Head of Environmental, Social and Governance at IWG.
Best for: all-in ESG reporting, data management, and carbon footprint management at scale
Workiva alternative #2: Diligent
Diligent is a platform built to empower you to reach your ESG goals. It helps you keep a close watch on your current and future ESG risks and stay in the loop when it comes to regulatory updates.
This software enables you to perform comprehensive ESG management, compliance, risk management, and governance by centralizing data collection and creating automated reports. It will also highlight the opportunities where you can optimize business processes and upgrade your ESG journey.
Users give it a 4.5 out of 5 and highlight that the tool is user-friendly and invites effective communication among all stakeholders:
‘The platform is very user-friendly and intuitive so even directors who are not particularly tech savvy have had no problems navigating the site,’ shares a user on G2.
Best for: risk management
Workiva alternative #3: AuditBoard
AuditBoard is yet another Workiva alternative you can use if you need to do data audits, pinpoint business risks, and build different ESG programs.
What makes this tool stand out is its particular focus on risk management and compliance. Here you can automate your compliance efforts, analyze IT risks, and even mitigate your vendor risk.
Built to make auditors’ lives easier, this tool will help you work smarter and surface risks.
Users on G2 give it a 4.6 out of 5 and say that it’s a ‘simple single source of information that syncs throughout the documentation.’
Best for: risk management and security compliance
Workiva alternative #4: Novisto
Novisto will help you collect, manage, and report on your ESG data within a single space. It aims to replace your time-consuming manual processes with automated data gathering. This, in turn, helps you improve the quality of your data and leaves little room for human error.
This tool is built to help you make confident decisions and disclosures by providing you with insights from your sustainability data, workflows, and reporting.
Users say that Novisto is a 4.6 out of 5 and describe it as a ‘Great data management platform with metrics aligned to several standards/regulations.’
Best for: ESG strategy and data management
Workiva alternative #5: Pulsora
Pulsora is a platform built for enterprise sustainability management. It helps you collect, report on, and improve your ESG data for an overall lift in the company’s sustainability performance.
Among other things, this software will help you with consolidating data across all facilities and locations, save time on building climate disclosures, and keep you updated about any changes in ESG regulations and frameworks.
Users give this tool a 4.5 out of 5 and say that it ‘easily connects with other software solutions, thereby capturing sustainability data from all our operations.’
Best for: enterprise sustainability
Where do we go from here?
Whatever Workiva competitor you choose, the main indicator of future success is how well-suited the solution is for your business needs. Line up your dealbreakers and must-haves to be able to easily cross options off the list and then try the ones that stand that selection process.
Book your free demo with ESG Flo today to see if it will top your lists too!
