Accenture and Workday are strengthening their partnership to assist organizations in transforming their finance operations, making them more adaptable, data-focused, and customer-oriented. Together, they are working on creating a set of data-driven, customizable finance solutions that can be adjusted to meet clients' evolving needs in the software and technology, retail, and media sectors.
“CFOs are challenged to optimize spend and increase profit margins, while finding new ways to leverage data to drive profitable growth. To help our clients be truly agile and drive real-time reinvention, our expanded collaboration with Workday will provide pre-integrated finance solutions that let organizations plug the technologies of tomorrow into today’s business,” said Emma McGuigan, senior managing director and Enterprise & Industry Technologies lead at Accenture.
Accenture and Workday have collaborated to design industry-specific solutions seamlessly integrating with Workday Financial Management. By harnessing the power of data and analytics, these offerings will digitize processes through intelligent automation, artificial intelligence (AI), and machine learning (ML).
This will lead to cost reductions, enhanced operational efficiency, and equipping the workforce with the necessary skills to excel in an ever-evolving business landscape.
“This initiative with Accenture is an important addition to Workday’s Industry Accelerators, which combine the power of Workday with the deep industry expertise of our partners to help speed our customers' cloud transformations. The global partnership between Workday and Accenture brings together the power of our cloud-native platform with AI and ML at the core and some of the industry’s most forward-thinking and innovative experts to help our customers take advantage of transformative technologies to accelerate change across their financial operations while remaining adaptable and resilient,” said Matthew Brandt, senior vice president of Global Partners at Workday.
Joining forces with Salesforce
Accenture and Workday have joined with Salesforce to establish a robust finance technology platform to deliver fresh business insights, increase agility, and enhance employee experiences. With Accenture's design and execution assistance, Workday Financial Management and Salesforce tools will offer solutions to streamline finance processes and create global operational standards for Salesforce.
"Our technology strategy is centered on adopting innovative solutions that create an agile foundation for us to adapt and grow. Accenture and Workday are helping us deliver on this strategy with an adaptable finance system that allows us to keep pace with today’s dynamic business environment,” said Faye Olson, senior vice president of Business Technology, Enterprise Enablement, Salesforce.
Offerings for various industries
The solutions tailored for the software and technology industry tackle critical client challenges related to customer billing, encompassing subscription and consumption billing, revenue planning, and expenditure optimization. These solutions include quote-to-cash processes, financial planning and analysis, and spending and cash flow optimization.
Moreover, the retail industry-tailored solutions are focused on aiding customers in planning, store operations, and workforce management. They facilitate the seamless integration of Workday Financial Management with other leading merchandising and inventory solutions, helping finance and store operations teams by offering enhanced insights into inventory and store data, and ensuring that the right products are available in the right locations. It also includes a comprehensive retail analytics solution with dashboards to help store operators better understand store performance.
The media industry solutions concentrate on three key areas: production finance, monetization, contracts, and title amortization. These solutions incorporate industry-specific platforms designed for media production training and optimizing the monetization of media assets. They seamlessly integrate with the modern digital core provided by Workday Financial Management.
Elsewhere, Accenture and Microsoft have extended their partnership to assist organizations in embracing the potential of generative AI while leveraging the power of the cloud.
