Indian Economy News

Workiva and PwC India establish a strategic alliance to assist India Inc in automating risk and compliance processes

  • IBEF
  • October 19, 2023

A strategic relationship between PwC India and Workiva, a cloud platform for guaranteed integrated reporting, was announced in response to the growing need for Governance, Risk, and Compliance (GRC) and accurate and transparent disclosures in India.

The goal of this cooperation is to improve the customer experience. By integrating Workiva's suitable solution with PwC India's subject matter expertise and reporting experience, as well as GRC, Indian businesses can improve stakeholder confidence by being more consistent, accurate, timely, and in control of their financial, Environmental, Social, and Governance (ESG), audit, risk, controls, policy, and other local regulatory compliances, says PwC in a statement.

It will be achieved by connecting people, processes, and data within Workiva’s unified Software as a Service (SaaS) platform for reduced risk, increased control, enhanced collaboration, and ultimately giving time back to the teams for more rewarding work.

According to Mr. Sivarama Krishnan, Partner & Leader, Risk Consulting, PwC India, a potent GRC plan can be a useful tool for advancing business objectives. Leaders can obtain crucial insights necessary for making well-informed decisions by including risk management processes that proactively detect, measure, prioritise, and manage risks. The entire suite of integrated control, compliance, and certification capabilities across all industries will be enhanced by Workiva's technological solutions.

Mr. Erik Saito, Senior Vice President (SVP) & General Manager, Europe, the Middle East, and Africa (EMEA) & Asia Pacific (APAC) of Workiva, financial reporting, ESG, and GRC teams can collaborate more effectively and deliver reliable integrated reports on schedule by leveraging technology. This is something that stakeholders are demanding. Instead of selecting software for GRC, ESG, or financial reporting alone, Workiva provides a platform that can be used by all three teams. The company make this entire ecosystem a reality through PwC India.

While mentioning about the partnership, Mr. Vivek Belgavi, Partner & Leader, Alliances and Ecosystems, PwC India stated that Workiva is a great addition to PwC India’s expanding alliance ecosystem to help empower businesses in their decision-making process by delivering complete control over data across outputs with a visibility into the entire GRC process, from early risk identification to final reports.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.