Workday Rising Financials Strategy and Vision Keynote
The Financials Keynote session at this year's Workday Rising conference brought forth a wealth of insights into the ever-evolving world of financial management.
Attendees were treated to an illuminating discussion on how cutting-edge AI and automation are reshaping the finance landscape, with an emphasis on empowering individuals, improving customer relationships, and redefining the role of accounting.
1. Data Protection and Value Growth
Workday's strategy was crystal clear: protect data while simultaneously harnessing it to fuel business growth. Using Workday's analytic capabilities to drive decision-making is a core aspect of this strategy.
2. Empowering with AI
The keynote highlighted how AI is not about replacing human capabilities but rather enhancing them. Workday showcased how AI technologies are helping individuals perform at their best by providing them with valuable insights and support.
3. Accounting as Strategic Advisors
The keynote made a compelling case to continue to work towards enabling accountants to shift from a transactional role to becoming strategic advisors. The emphasis was on using data to provide insights and guidance that drive business decisions, rather than just processing transactions.
4. Hyper Automation with Generative AI
The keynote discussed generative AI and its role in hyper-automation. This powerful combination is poised to revolutionize the way financial processes are carried out, promising efficiency and accuracy.
5. Impressive Customer Reach
With a staggering 1,700 financials customers, of which 1,200 are currently live, Workday demonstrated its widespread impact in the financial management domain. This rapidly growing customer base is a testament to the trust organizations place in their solutions.
6. Four Key Areas Workday is Positioned to Deliver Greater Value
- People Operations: Optimal use of people to achieve financial goals.
- Data Management: People, money, and operational data united as part of accounting process.
- Transaction automation: Collection, control, and accounting of all detailed expense and revenue activity.
- A.I. and M.L. Throughout: Faster, smarter, lower-risk processes.
7. Industry Solutions Investment
Workday's heavy investment in industry-specific solutions signals their dedication to providing tailored solutions that meet the unique needs of various sectors.
8. Services CPQ
The introduction of automated project and contract creation, forecasts, and Statement of Work (SOW) generation will streamline professional services operations, making Workday a pioneer in this regard.
9. More Delivered Hubs
Workday will continue to introduce new dashboard hubs, such as the Collections and Accounts Payable Hubs. These hubs are designed to provide a centralized place for users to access key tasks and new reporting insights.
10. Financial Analytics Dashboard
Similar to People Analytics, Workday introduced a Financial Analytics Dashboard, providing a comprehensive view of financial data to inform strategic decisions.
In conclusion, the Financials Keynote at Workday Rising showcased the company's commitment to innovation, automation, and providing tailored solutions to meet the evolving needs of the customers across industries.
With AI, generative AI, and hyper-automation at the forefront, Workday is poised to reshape how financial management is done, empowering individuals and organizations to thrive in an ever-changing landscape.
How to Connect with ERPA at Workday Rising 2023
ERPA is proud to be a gold sponsor of the Workday Rising 2023 conference at the Moscone Center in San Francisco, CA from September 25 through September 29th. We'll be in booth #516 and hope you join us online or in person as our Workday team of experts present two informative sessions:
A Bridge to Better Payroll: Solving for the Long-Term, Not Deployment
- Thursday, September 28th
- 11:45 AM – 12:30 PM
ERPA invites you to join Michelle Nguy, Cytokinetics' Associate Director of Payroll, as she explains what you should do when the handoff from your implementation partner isn't enough. Learn why Cytokinetics sought ERPA as a partner and what a “bridge” solution looks like and its impact.
Avoiding Hard Lessons the Easy Way: How Kandji Makes the Most of Workday Without Prior Experience
- Friday, September 29th
- 2:45 PM – 3:15 PM
Brett Pugliesi, Kandji's VP of HR, and Queen Lee, People Operations Manager, will discuss how to manage through a deployment with limited bandwidth and deadlines, support a team (and company) with zero prior Workday experience, to make the most of your Workday investment.
Join ERPA at Workday Rising 2023 in San Francisco
Join ERPA at booth #516 at Workday Rising in San Francisco from September 25th to 29th. ERPA will be there as a Gold Sponsor.
We're excited to meet you!
Our Workday Advisory Services and certified consultants help you future-proof your organization with shorter initial contract terms so you can see success in workforce planning and compensation, attracting and retaining the best talent, implementation, and more.
If you're ready to tackle the challenges unique to your organization, contact ERPA today!
