While it was clear that the client’s financial processes were no match for the evolving needs of a growing asset management firm, there was a significant resistance to change. This was especially true for their complicated financial models—a foundation that had helped grow their business and keep sensitive data isolated, but that relied heavily on the individuals that developed them.
Their tradition-bound finance department had been slow to adopt modern methods and technology. Tasks that could be automated were still performed manually. Overall, the client’s technology infrastructure was inadequate for the company it had become.
Familiarity with the current way of working and data security concerns stood in the way of change. When the chief financial officer announced his coming retirement, the company decided to transform its financial operating system for a more data-driven future. It asked KPMG to help.
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Today, the company’s finance capabilities have been modernized and their support for Workday has been shifted to KPMG, which takes a far more business-centered and consultative approach to sustaining and helping ensure their platform is continually evolving to help maximize outcomes. The client is free to concentrate on their core business—managing money—while responsibilities for finance function optimization and administration are handled by a team of outside specialists. These professionals bring both technical and sector-specific knowledge to their work; providing market-leading strategies to guide the future of finance function operations. Their role enables the client to respond quickly to market changes, innovate rapidly, and facilitate their team’s ability to focus their time on the core business. Moving to a managed services approach has done more than save the client money; it’s driving sustained value.
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As Workday continues to expand its value to the client, KPMG Managed Services will provide hands-on, day-to-day management of the finance platform. This includes on-demand configuration, report writing, data integration, and enhancement services, including biannual system updates. KPMG will continue to enable the value the client gleans from Workday through collaboration, business contextual recommendations and approaches to continual improvement that align with the client’s roadmap and objectives.
By mining the rich trove of data Workday captures, the client can develop deep and meaningful insights into revenue, expenses, and even its own employees. This leads to more timely and accurate insights into their operations to drive strategic decisions on their future.
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