AuditBoard vs Workiva Wdesk comparison

 

Comparison Buyer's Guide

Executive Summary
 

Categories and Ranking

AuditBoard
Ranking in GRC
2nd
Average Rating
8.6
Number of Reviews
11
Ranking in other categories
IT Vendor Risk Management (4th)
Workiva Wdesk
Ranking in GRC
7th
Average Rating
7.0
Number of Reviews
6
Ranking in other categories
Business Performance Management (12th), Financial Close Software (3rd)
 

Market share comparison

As of June 2024, in the GRC category, the market share of AuditBoard is 7.5% and it increased by 64.0% compared to the previous year. The market share of Workiva Wdesk is 5.9% and it increased by 41.3% compared to the previous year. It is calculated based on PeerSpot user engagement data.
GRC
Unique Categories:
IT Vendor Risk Management
6.4%
Business Performance Management
3.7%
Financial Close Software
7.1%
 

Featured Reviews

JD
Jan 31, 2023
Robust security, and user-friendly, but the flexibility could be improved
While AuditBoard is very powerful and very strong, it is a little bit limiting. It is limited by the fact that it is very structured. For example, I am unable to deviate sufficiently from the audit process. I can't institute a lot of my own pieces. I have to use their standard out-of-the-box process, which is quite inconvenient. Understandable, however, still somewhat frustrating in terms of how the process works. When trying to integrate plugins, not necessarily modules, but processes and procedures. We have unique business elements, and we find different ways to audit it and how it works, but it's limiting from that standpoint. Some of that flexibility could be enhanced. When comparing Archer and TeamMate+, there is a little more open-ended in terms of certain of our audit processes and procedures. And there is significantly greater freedom in creating ad hoc audit processes and procedures, whereas AuditBoard is a little more limiting in this regard.
JD
Feb 1, 2023
Straightforward to implement with helpful support and good flexibility
Like any piece of software, there are always areas for improvement. With this product, it's more about the integrated data model where you can have a one-to-many/many-to-one relationship between your policies and processes, risks, and controls. They need to showcase how you can put those pieces together. That could always be enhanced and improved so that I could test once and leverage it across multiple risks and controls. The best thing that could do is just continue to expand the vision and the model, which is what they're trying to do. Likely what we need is on their roadmap, and it's just sticking to their roadmap and direction to put those pieces together that will help it evolve into a stronger product.

Quotes from Members

We asked business professionals to review the solutions they use. Here are some excerpts of what they said:
 

Pros

"Considering the solution's return on investment, it has been extremely helpful since we were doing a lot of documentation. Previously, in our company, we were using an Excel sheet which made things quite messy."
"AuditBoard is very user-friendly compared to other audit management software I have used in the past."
"The most valuable feature is that everybody can use the same tool. You can give a person permission to use AuditBoard and define their access to the Audit Table. For example, we can allow external auditors or clients to review our completed tests. The clients are attached to specific tests that happen regularly, like inventory counts and asset counts. Debt compliance is only done once annually."
"The most valuable feature is the well-documented instruction."
"There are lots of features."
"AuditBoard has several solutions for governance, internal audit, and other categories."
"Its ability to share the data in real-time has helped us well."
"I find the most significant elements of this solution are the out-of-the-box reporting, the ease of workflow, workflow management, and the ease of managing our audit process."
"The most valuable feature is its ability to easily upload and update financial results, creating a dynamic data sheet."
"The collaboration within the platform is valuable."
"It helps you to maintain a backup of your data, including the connectivity with the tables, which provides a user-friendly way to handle and access your files."
"Workiva Wdesk is pretty good in terms of getting the data from the system, automating the reporting schedules...It has a very good integration with ERP tools."
"Workiva Wdesk has a flow diagram that is standardized, making it easy for people to file documents on ECDAs, which are in HTML format."
"It makes the compliance process more efficient and more effective."
 

Cons

"A handful of things in the solution need to be improved. One of them is better communication of updates to the system or tool itself."
"After sending out a request to my network for documents, it would be great to have a receipt that shows who received the request and who did not."
"The layout for the end user could be improved."
"It is not easy to analyze the results of a survey as a whole."
"They should improve the solution's test sheets feature for ease of use."
"AuditBoard has the potential for improvement in a few key areas. Firstly, I have experienced instances where the platform has experienced technical issues and ceased to function effectively. Additionally, the editing tools provided within the platform can be slow and laggy, particularly when trying to access and edit important documents. This can be a hindrance to my workflow and efficiency. To address these issues, they should begin by improving the speed and reliability of the platform, as well as enhancing the search engine to make it easier to find specific controls and documents within the platform."
"AuditBoard could benefit from the addition of video capabilities, although it is not a necessity. Small companies that cannot afford licenses for Microsoft Teams or Zoom would benefit greatly from this feature, as it would enhance the communication process."
"The initial setup is somewhat difficult because it has multiple pieces that need to be stitched together. You have to integrate it with the business unit you want to test if you want to go down from the corporate level to the operational level."
"At this point, I don't see a compelling reason to invest in Workiva. It may be necessary for compliance and controlling the version of SCC, but not everyone needs its high-end capabilities."
"With this product, it's more about the integrated data model where you can have a one-to-many/many-to-one relationship between your policies and processes, risks, and controls. They need to showcase how you can put those pieces together."
"Regarding the solution, reporting has certain areas that can be considered for improvement."
"The most critical issue is the need to shift between uppercase and lowercase."
"The speed must be improved."
"One area where Workiva Wdesk could improve is by ensuring that its cloud-based system is fully compatible with the most current versions of PowerPoint and Excel."
 

Pricing and Cost Advice

"Pricing is variable, like with any technology, and is determined by how hard you wish to negotiate. You can get to a price you're willing to pay if you're willing to negotiate aggressively."
"I highly recommend this tool as the price is reasonable. However, consistent pricing is important, and having a loyalty program that rewards long-term customers with lower prices would be a great addition."
"Our clients in Asia think that the solution is too expensive."
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Top Industries

By visitors reading reviews
Computer Software Company
14%
Financial Services Firm
12%
Government
10%
Manufacturing Company
10%
Financial Services Firm
20%
Educational Organization
17%
Computer Software Company
6%
Insurance Company
6%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
No data available
 

Questions from the Community

What do you like most about AuditBoard?
It consolidates the E2E process in one single solution, and in a very user friendly environment.
What is your experience regarding pricing and costs for AuditBoard?
I believe the license is based on the number of key controls that will be tested regularly. You can also pay extra for additional modules, like risk testing and operational audits, etc.
What needs improvement with AuditBoard?
The layout for the end user could be improved for the control owners and people from whom I request information. If you have a good knowledge of internal auditing, you know there are internal contr...
What do you like most about Workiva Wdesk?
The most valuable feature is its ability to easily upload and update financial results, creating a dynamic data sheet.
What is your experience regarding pricing and costs for Workiva Wdesk?
Wdesk is affordable and as far as I'm aware, there were no additional costs beyond the standard license increase. We didn't have to make any other changes; it primarily involved accessing the platf...
What needs improvement with Workiva Wdesk?
One area where Workiva Wdesk could improve is by ensuring that its cloud-based system is fully compatible with the most current versions of PowerPoint and Excel. Sometimes, the features available i...
 

Comparisons

 

Also Known As

No data available
Wdesk
 

Overview

 

Sample Customers

Information Not Available
Noodles Company, eBay, Winnebago, American Assets Trust, AmericanEnterprise, Calpian, Capstone Infrastructure, Cascades, Circor International, Coeur Mining, Davey, Dr Pepper Snapple
Find out what your peers are saying about AuditBoard vs. Workiva Wdesk and other solutions. Updated: May 2024.
787,061 professionals have used our research since 2012.