Streamlining Statutory Reporting with Workiva

CASE STUDY - FTSE 30 FOOD MANUFACTURER

Food retail price tags representing statutory reporting for a global food manufacturer

The Requirement

An anonymous FTSE 30 food manufacturer engaged Maxica to improve its statutory reporting process ahead of year end. The finance team had been producing annual statutory accounts using OneSource, but the platform did not meet all business requirements and created a significant operational burden through manual workarounds.

The organisation needed a more controlled and scalable reporting solution that would centralise work, improve collaboration and strengthen governance. Following vendor assessment, Workiva was selected as the new platform for statutory reporting.

Finance team collaborating on complex statutory reporting

The Challenge

The existing reporting process relied heavily on manual activity, making statutory reporting time consuming and difficult to manage at scale. Governance and version control were limited, reducing transparency and making collaboration across stakeholders more difficult.

The scale of the reporting landscape added further complexity. The client needed to support statutory reporting for 106 entities while standardising templates and controls for future use. The implementation also had to remain aligned to tight year-end timelines.

Structured project plan for the Workiva statutory reporting programme

Our Approach

Project Management:Maxica provided end-to-end programme delivery management, managing delivery milestones, risks, dependencies and stakeholder communications across the programme.

Governance: A structured governance model supported decision making, delivery control and alignment between finance, IT and the implementation partner.

Stakeholder Coordination: Maxica coordinated internal teams and external suppliers to keep delivery on track and ensure the solution reflected operational reporting requirements.

Implementation Oversight: The engagement covered requirements management, design validation, build oversight, testing coordination, training support and readiness for transition into business-as-usual operations.

Digital reporting platform representing the Workiva statutory reporting solution

Our Solution

Maxica managed the implementation of Workiva as the client’s new statutory reporting platform. The solution included two global statutory reporting templates, a supporting data model, user and administrator training, and structured testing to validate the platform before adoption.

Statutory reports for 106 business entities were recreated within Workiva, establishing a centralised reporting environment for future reporting cycles. The new platform replaced OneSource for financial reporting and introduced stronger collaboration, version control and audit-trail capabilities.

Steps representing improved statutory reporting efficiency and governance

Benefits

106 Entities Supported: Statutory reports for 106 business entities were recreated in the Workiva reporting environment.

Reduced Manual Workarounds: The new platform reduced reliance on the manual activities associated with the previous reporting process.

Improved Governance: Version control, structured workflows and audit-trail capabilities strengthened transparency and reporting control.

Centralised Reporting: Finance teams gained a common environment for managing statutory reporting content, collaboration and updates.

Global food imagery representing statutory reporting across multiple entities

Why it Worked

The programme combined technology implementation with structured delivery governance. Maxica aligned finance, IT and the implementation partner around shared requirements, milestones and responsibilities while maintaining focus on the year-end timetable.

Requirements management, design validation, testing, training and transition planning were managed as connected parts of the change. This supported adoption of a more scalable statutory reporting environment rather than simply replacing one software platform with another.

Maxica consultant ready to discuss financial reporting transformation

Learn More

If your organisation needs to modernise statutory reporting, strengthen financial-reporting governance or manage a complex finance technology implementation, Maxica can help structure and deliver the change.

Call us on +44 333 700 2014

Email us on hello@maxica.com