enabling finance transformation with cloud technology: how to increase agility, improve insights,...
DESCRIPTION
Finance executives are increasingly looking to gain operational and competitive advantage using technology. As traditional accounting systems are becoming obsolete, the demand for business agility and improved insight at lower cost is driving innovation, particularly related to cloud computing. This session will share results of a recent research study exploring how finance teams are adopting and leveraging cloud-based technology. Join Workday, KPMG and finance practitioners as they share real-world experience of how cloud-computing technology are enabling and accelerating finance transformation.TRANSCRIPT
Enabling Finance Transformation with Cloud Technology: How to Increase Agility, Improve Insights, and Empower Users and the Business
Today’s Presenters
Keith MattioliPrincipal
KPMG LLP
Mark NittlerVP Enterprise Strategy
Workday
General Characteristics of a leading finance organization – Current to Future State
Future State: Information Focus
Typical Total Cost of Finance is .8 -1% of Revenue
Create value for the
enterprise
Protect enterprise
value
OperateFinance
efficiently
Integrated Business and Financial Planning and Analysis
for Value Creation
Measuring and Controlling Financial Risk/Managing
Governance
Business Partnering Services
Current State: Transaction Focus
Typical Total Cost of Finance is 1-2%+ of Revenue
Reporting andBudgeting
Measuring and ControllingFinancial Risk
Transaction Processing
Six Key Aspects of Finance Service Delivery
Service Delivery Model
People
Functional Process
Supporting Technology
Data and Reporting
Governance/Controls
Business & Information
Strategy Alignment
ComplianceReporting
Traditional Business Software Architecture
Other Systems
AP Journal Entry
AR Journal Entry
Pay Journal Entry
HR
Business Intelligence System
Data Warehouse
Financial & Statutory Reporting
Data Mart
Dashboards, Scorecards & Spreadsheets
Workflow
Segregation of Duties
Security
Summary Lines
Accounts
Journals
REC
Talent
TransactionBusinessEvent
WHEN
Transaction
Capturing Smarter Transactions by “tagging”
Workday Confidential
Traditional System = Fact Modern = Fact + Context
AccountingData
WHERE
WHO
WHATWHY
PRODUCTEMPLOYEE
SU
PP
LIE
R
CUSTOM
ER
CAMPAIGN
PROJECT
GR
AN
TFUN
D
COST
DEPARTMENT
LOCATIO
N
AP
PL
ICA
NT
Accounting D
ata
Faster to Embrace Change and Scaling-Up
Changing the Organization Changing the Process
Channel
Supplier
location
project
sales rep
campaign
account
department
Changing the reporting dimension(s)
Spend line
CUSTOMER
SALES REP
LOCATION
Channel
WORKDAY CONFIDENTIAL
TALENT REVENUE
PROCUREMENT
PAYROLL
TIME TRACKING
EXPENSES
HUMANRESOURCES
FINANCIALS
ACTIONABLEANALYTICS
MOBILE
COLLABORATIONCONSUMER UI GLOBALAT THE CORE
ADAPTIVE FOUNDATION
TECHNOLOGY FOUNDATION EMBEDDED SERVICES
MULTI-TENANT
OBJECT ORIENTED
IN MEMORY
SECURITY
INTEGRATION CLOUD CONFIGURABLE BUSINESS PROCESSES
REPORTING & WORKTAGS
SETTLEMENT ENGINE
GOVERNANCE & COMPLIANCE
BIG DATA
RECRUITING
Thank You!
WORKDAY CONFIDENTIAL