Workiva Helps Alcon Scale Global Audit, Enterprise Risk Management and SOX Compliance
Workiva (NYSE:WK), provider of the world’s leading connected reporting and compliance platform, today announced that Alcon (NYSE:ALC) is using the Workiva platform to build and scale its global audit, Enterprise Risk Management (ERM) and Sarbanes Oxley Act (SOX) compliance processes.
Charles Silvey, Global Head of Internal Audit at Alcon, which operates in 70 countries, used Workiva to build his department from the ground up. “I needed a platform that allowed my team to be more efficient and effective,” said Silvey. “Once we built our templates in the Workiva platform, we didn’t have to bother with administrative tasks – like formatting and cutting and pasting – which gave us more time to focus on the observations.”
“With Workiva, the time savings are incredible,” said Silvey. “At prior organizations, it often took three to four months to release an audit report, but with Workiva, we were ready to issue our final report in two weeks.”
Silvey also leveraged Workiva to help build Alcon’s ERM process. “We can link together all of our risk and audit data, and immediately see the value in time savings,” he explained. “The Workiva team took time to understand our needs, and they helped us build out a solution that was exactly what we wanted for ERM.”
The ability to connect data across all of their spreadsheets and reports, and manage progress with automated tasks, led Alcon to adopt Workiva to monitor and test internal controls for SOX compliance. Silvey and his team now link their SOX risk-control matrix, process narratives and flowcharts with a streamlined workflow directly in their documents and reports.
"Once I saw what the Workiva platform could do, expanding it to SOX compliance was a no-brainer,” said Silvey. “SOX administrators are now able to know exactly where they are in the process within minutes. Before Workiva, getting those answers would have taken days, if not weeks.”
“Workiva gives us the ability to get valuable information into the hands of the right people really quickly,” he added. “They have created new opportunities for efficiency, speed and accuracy across our entire organization,” Silvey said.
Alcon helps people see brilliantly. As the global leader in eye care with a heritage spanning more than seven decades, we offer the broadest portfolio of products to enhance sight and improve people’s lives. Our Surgical and Vision Care products touch the lives of more than 260 million people in over 140 countries each year living with conditions like cataracts, glaucoma, retinal diseases and refractive errors. Our more than 20,000 associates are enhancing the quality of life through innovative products, partnerships with eye care professionals and programs that advance access to quality eye care. Learn more at www.alcon.com.
Workiva, provider of the world’s leading connected reporting and compliance platform, is used by thousands of enterprises across 180 countries, including more than 75 percent of Fortune 500® companies, and by government agencies. Our customers have linked over five billion data elements to trust their data, reduce risk and save time. For more information about Workiva (NYSE:WK), please visit workiva.com.
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