Surviving and Thriving in a World of Change
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The document outlines the challenges and evolving role of finance in a rapidly changing business environment, highlighting the need for scalable, agile, and flexible financial solutions. It emphasizes the benefits of adopting cloud-based platforms like Workday, which offer real-time insights, improved controls, and cost-effectiveness. Additionally, the importance of integrating HR and finance for better decision-making and operational efficiency is stressed.
Surviving and Thriving in a World of Change
- 1. The Burning Platform for Finance Surviving & Thriving in a World of Change
- 2. Today’s Presenters Russ Banham Contributing Editor CFO Publishing #WDAY @workday Raphael Bres VP, Financials Product Strategy, Workday Noel Watson Controller TripAdvisor
- 3. Who We Are We exist to help people around the world plan and have the perfect trip on any budget
- 4. Company Facts NASDAQ: TRIP Founded in 2000 Spun-off of from Expedia 2011 Largest travel site in the world*: – Operate in 30 countries and 21 languages – 1,500 employees Social travel planning as key differentiator: – 57 Million unique monthly visitors – 36 Million marketable members – 75 Million (and growing) reviews and opinions – 60 new contributions every minute *comScore Media Metrix for TripAdvisor branded sites, Worldwide, May 2012
- 6. Fast Paced, Dynamic Business M&A Integration Internal Controls New Products Consolidation Global Expansion Transx Scale Fx Business Insight
- 7. What is the Burning Platform for Finance? Surviving and Thriving in a World of Rapid Change Changing Business and Regulatory Environment Changing Market Conditions and Competitive Landscape Expanding Role of Finance Changing Workforce New Technologies
- 8. Challenges with Traditional Systems Which of the following system related issues interfere most with your finance function’s ability to meet the demands of its role?* 17% Lack of Speed 30% Lack of Visibility 34% High Maintenance / Upgrade Costs 37% Fragmentation 44% Lack of Flexibility *CFO Research October, 2012
- 9. New Financial Requirements Business and Financial Insights Intuitive and Easy to Use Platform for the Future Scalable Agile and Flexible Global Support Built–in Controls Cost Effective
- 10. Cloud Computing with Workday Economical – No upfront capital expenditures – No system depreciation – Predictable costs – Subscription-based pricing model – Liberate IT resources Always current – Continuous product innovation – Lower financial & regulatory risk Enterprise-grade security – Multiple layers of security & encryption – ISO27001, SOC-1 & Safe Harbor certification Global consistency – Single, global source of truth – Real time visibility – Better compliance & controls Collaboration – Anytime, anywhere access – Strong eco-system of partners
- 11. What We’ve Achieved Operate With a Complete Picture Increased Finance Productivity and Operational Efficiencies Flexibility, Agility, Speed Improved Controls • Unified Platform with HR • Embedded Analytics & Worktags for broader, deeper insight • Real-time financial and operational reporting and insights • Intuitive, easy to use, common user interface • Visibility into financial processes e.g. Work Areas • Improved business decision support and response time • Flexible Business Process Framework accommodates organization, process and reporting changes without IT • Get answers faster • Always on audit trail • Configurable processes and security protocols Reduced Cost and Complexity • Reduced training and support costs • Global and scalable • Always current, no upgrade costs
- 12. Unified HR & Finance A More Complete Picture for Analytics and Decision Making No messy integrations between disparate systems Consistent, real-time reporting Worker data and transactions flow directly into financial system – e.g. payroll, expenses Faster access to information and data for decision support
- 13. Parting Thoughts Strong external partner with experience Empower and involve a broad project team Involve HR/Finance in respective implementations Validate requirements early Pick your priorities and be flexible with scope/process where possible Leverage the power of the community
- 14. The Enterprise Cloud for HR and Finance. Built for Enterprises, Delivered in the Cloud. • HUMAN RESOURCES • TALENT • RECRUITING • PAYROLL • TIME • FINANCE & ACCOUNTING • BUSINESS ASSETS • REVENUE • EXPENSES • CASH MANAGEMENT • PROCUREMENT • PROJECTS MOBILE COLLABORATIONCONSUMER UI GLOBAL AT THE CORE ADAPTIVE FOUNDATION TECHNOLOGY FOUNDATION EMBEDDED SERVICES MULTI-TENANT OBJECT ORIENTED IN MEMORY SECURITY INTEGRATION CLOUD HADOOP CONFIGURABLE BUSINESS PROCESSES REPORTING & WORKTAGS SETTLEMENT ENGINE GOVERNANCE & COMPLIANCE HUMAN CAPITAL MANAGEMENT FINANCIAL MANAGEMENT
- 15. Thank You!