Your Digital Finance Transformation Journey
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The document presents a webinar series by Deloitte and Workday focused on digital finance transformation, highlighting tools and strategies to enhance organizational efficiency. It emphasizes key trends shaping the future of finance, including the integration of human and machine processes, data utilization, and the need for agile systems amidst changing business environments. Various case studies illustrate successful transformations, while forward-looking statements outline potential risks and considerations for Workday's future applications.
Your Digital Finance Transformation Journey
- 1. Accelerating your Digital Finance Transformation Journey with Deloitte & Workday
- 2. Accelerating your Digital Finance Transformation Journey with Deloitte & Workday Looking Forward with Workday is a webinar series designed to give you insight into how your organization can do more with Workday. This series will share how we support how you manage your people and your business. Topics will include solution strategies and roadmaps, specific use cases, live demos, and customer stories.
- 3. This presentation may contain forward-looking statements for which there are risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, Workday’s business results and directions could differ materially from results implied by the forward-looking statements. Forward-looking statements include any statements regarding strategies or plans for future operations; any statements concerning new features, enhancements or upgrades to our existing applications or plans for future applications; and any statements of belief. Further information on risks that could affect Workday’s results is included in our filings with the Securities and Exchange Commission which are available on the Workday investor relations webpage: www.workday.com/company/investor_relations.php Workday assumes no obligation for and does not intend to update any forward-looking statements. Any unreleased services, features, functionality or enhancements referenced in any Workday document, roadmap, blog, our website, press release or public statement that are not currently available are subject to change at Workday’s discretion and may not be delivered as planned or at all. Customers who purchase Workday, Inc. services should make their purchase decisions upon services, features, and functions that are currently available. Safe Harbor
- 4. Help Slides Media Player Resource List Q&A Housekeeping Items Speakers Survey Housekeeping Items
- 5. Annette Melatti Senior Director Solution Marketing for Office of the CFO Workday Rakesh Duggal Senior Manager Deloitte Doug Hubert Technology Fellow Deloitte
- 6. Agenda Workday Confidential 01 Latest Trends 02 Workday and the Office of the CFO 03 Use Cases for Transformation 04 Q&A
- 7. How Workday can enable a future-ready finance function Copyright © 2021 Deloitte Development LLC. All rights reserved. 7 What will the office of Finance look like in 2025? The shock of the pandemic has accelerated the 8 key trends that will redefine the future of Finance. WHAT’S KEEPING CFO’S UP AT NIGHT • How do we elevate our role as partners to the business? And make smarter, faster decisions? • How do we reduce our legacy technology debt? And modernize our near-end-of-life technologies? • How do we build processes and systems that are flexible (future proof) while adjusting to remote business operating models? • How do we position Finance as the destination for talent? And what will that future workforce look like? Finance Factory Role of Finance Finance Cycles Self-Service Operating Models Enterprise ResourcePlanning Data Workforce & Workplace FINANCE 2025 TRENDS
- 8. How Workday can enable a future-ready finance function Copyright © 2021 Deloitte Development LLC. All rights reserved. 8 Businesses are accelerating transformation to take advantage of significant opportunities …are leading to a Finance function that is more… • Business processes merge human + machine • Open talent networks are strengthening • Agility is integral • Data is the new oil • Value is perceived in outcomes delivered • Continuous innovation is table-stakes • Experiences are seamlessly physical and digital A number of digital forces… … enabled by transformative technologies… Cloud computing Cognitive computing Visualization Process robotics Blockchain Advanced analytics Operational Finance Business Finance Specialized Finance TOUCHLESS REAL-TIME CENTRALIZED PREDICTIVE INSIGHTFUL INTEGRATED EFFICIENT STRATEGIC FORTIFIED
- 9. Agenda Workday Confidential 01 Latest Trends 02 Workday and the Office of the CFO 03 Use Cases for Transformation 04 Q&A
- 10. Workday for the Office of the CFO Record to Report General Ledger Global Consolidations Financial Statements Cash Management Asset Management Contract to Cash Contracts Billing Revenue Recognition Receivables Collections Report to Forecast OPEX / CAPEX Headcount Top Line / Revenue Operational KPIs Board / Mgmt Reporting Expense to Reimburse Expense Reports Mobile Expenses Spend Authorization Settlements Staff to Deliver Project Management Resource Management Project Financials Project Billing Labor Costing Procure to Pay Requisitions / POs Receiving Payables Inventory Sourcing & Auctions Requisitions and POs Receiving Payables Supplier Management Inventory Source to Pay Controller Auditor Treasurer FP&A Payroll Procurement Productivity to Pay US Payroll UK Payroll France Payroll Canada Payroll Global Payroll Cloud Settlements
- 11. The Workday Enterprise Finance Solution
- 12. Common Transformation Approaches Complete Finance Transformation Corporate Finance Layer Create New Entities on Demand ERP 2 ERP 1 ERP 3 Corporate Finance ERP 2 ERP 1 INDUSTRY SYSTEMS CRM SCM
- 13. Agenda Workday Confidential 01 Latest Trends 02 Workday and the Office of the CFO 03 Use Cases for Transformation 04 Q&A
- 14. Transform – Your Path, Your Pace Global ERP Rationalization of all ERPs, Localizations, All Modules Finance Transformation
- 15. Use Case: Global, Full Transformation Workday Confidential Global Real Estate and Finance Firm • 16,000 employees / $8.8B Rev • 40+ countries • Multiple ERP and HCM systems • Manual, global consolidations • Multiple, non-standardized data models • Non-standardized processes • No global view of revenue by LOB nor by global client * Merger during project – all adopted Workday Platform Path • Full Workday Platform; HCM & FINs • Global Big Bang Approach • Corporate and Subsidiaries • 14 Months • Visibility to global client profitability • Standardized, global common data model and processes • Visibility to global spend • Global corporate layer for mgmt of cash and intercompany • Global consolidations • Global policy monitoring (procurement) CRM and Global Payroll
- 16. Transform – Your Path, Your Pace Regional ERP with Corp Finance Layer GL, Procurement, Projects, Assets, Treasury Global ERP Rationalization of all ERPs, Localizations, All Modules Finance Transformation
- 17. Use Case: ERP with Corporate Finance Layer Workday Confidential Global Credit Management Company • 8,300 employees / $1.4B Rev • 40+ countries • Multiple legacy ERP Systems • Already on Workday HCM • Multiple, non-standardized data models • Non-standardized processes • No global view of revenue or spend • Subsidiaries with specialized ERP needs Path • Pre-work to align FINs with HCM on crossover areas • Some subsidiaries remained on legacy ERPs for local compliance • Established a common, global data model for all ERPs • Consolidations and performance management at corporate Layer • Planning (Adaptive) • Procurement • Future options for Corporate Finance Layer • Prism Analytics • Accounting Center • Global intercompany ERP 2 ERP 1
- 18. Transform – Your Path, Your Pace Regional ERP with Corp Finance Layer GL, Procurement, Projects, Assets, Treasury Global ERP Rationalization of all ERPs, Localizations, All Modules Finance Transformation Spin Off - ERP Global Financial Reporting, ERP Processing, Procurement, Transfer Pricing Planning Finance, Workforce & Operational Forecasting Procurement Spend Controls & Analysis
- 19. Use Case: Spin Off / Merger with Corporate Finance Layer Workday Confidential Global Asset Management Company • 1,700 employees / $346B AUM • 10+ countries • Spin off from global parent • Post spin off; merged with several firms European and APAC based • Non-standard data models & processes from different businesses • No global view of revenue & margin by asset class or portfolio Path • Visibility to global asset profitability • Standardized, global common data model and processes • Global control of transfer pricing • Global corporate layer consolidations across multiple ERPs including Workday • Global policy enforcement – adoption of procurement • Global planning Corporate Finance ERP 2 ERP 1 ERP 1 Mergers Spin Off
- 20. • Faster and shorter cycles times requires finance to operate with greater agility. • More standardization and simplification in data and processes leads to more focus on analysis. • New ways of working require a shift in your workforce to enable talent to operate more effectively. Key Takeaways
- 21. Q&A
- 22. Thank you for joining us! Join us in these upcoming sessions: Workday Confidential April 6, 2021 Tuesday 10 AM PT Achieving Supplier Management Excellence for Supply Chain Resiliency April 22, 2021 Thursday 10 AM PT Unlock New Value from your Workday Investment: Discover the Power of Workday Extend On Demand Connecting Insight and Action with Deloitte & Workday Analytics April 13, 2021 Tuesday 10 AM PT OpEx, Revenue, Projects: Hitting Your Targets is about Planning your People Transforming the Office of Procurement from Reactive to Strategic Continuous Planning to Execution: Customer Spotlight on Lineage Logistics Why Investing in Digital Technologies Now Can Radically Change Your Business Accounting on the Rise: Greater Control, Better Data and Reporting at FHLB Dallas
- 23. For a changing world. TM