Our client wanted to put time on its side. Over the years, various manual processes had created long financial close cycles and introduced challenges for meeting regulatory and public reporting requirements. This publicly traded company wanted to speed up its financial close process, ability to file timely financial statements, and delivery of financial information to senior management. In addition, the business wanted its finance system to support future dynamic growth.
This company engaged KPMG LLP (KPMG) to identify opportunities for improvement. As a result of our analysis, the firm decided to implement Workday’s enterprise cloud-based application, designed to manage complex operating environments. In addition to the financial application, the company also implemented Workday’s human-capital management application to capture the system’s full value for its staff. The transition to Workday’s cloud-based system resulted in:
This insurance company had been using an outdated system for its financial reporting and human-capital management processes, resulting in long close times and challenges meeting regulatory and public reporting requirements.
Our client initially engaged us to identify opportunities for improving its processes. Once the company decided to implement a cloud-based solution, the client asked us to help it select a vendor. Our contributions included:
A close partnership between KPMG and the client is crucial for a successful implementation. The client must participate fully in the process, with KPMG providing direction, expertise, experience, insights, and assistance.
Implementing a major system transformation requires passion, developing relationships built on trust, a commitment to success, and the ability to seamlessly adapt to changes in scope.
Businesses have expectations to meet and clients to serve, so we believe in an approach that is aggressive; leverages the latest industry, functional, and technical knowledge; and completes implementations quickly and smoothly.
KPMG complies with the auditor independence rules of the AICPA, SEC, PCAOB and DOL. As a result, some services described herein may not be available to our audit clients. KPMG audit clients should check with their respective lead audit partner for more information.