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When Towers Perrin and Watson Wyatt merged to create Towers Watson, they needed help in integrating their highly dissimilar finance and HR processes. Accenture’s tested methodologies and toolkits, and our knowledgeable people, helped the new company complete this complex integration ready for Day One.
Towers Watson was formed in June 2009. It is a leading global professional services company that helps organizations improve performance through effective people, risk and financial management. With approximately 14,000 associates around the world, it offers solutions in employee benefits, talent management, rewards and risk and capital management.
With a five-month deadline for Day One, Towers Watson needed a service provider to help it quickly integrate its back-office finance and HR processes (and supporting technologies). Integration presented challenges because each of the parties to the merger had quite distinct organizational structures: one was centralized while the other was decentralized. The company also wanted a future-state road map to help it realize the synergies it anticipated the merger would generate.
Towers Watson chose to work with Accenture based on our previous experience in making similar mergers work, the high quality of the team Accenture proposed, and our range of proven methodologies and frameworks.
Accenture helped Towers Watson prioritize the most critical integrated processes, systems and reports, and create a plan to achieve integration in time for Day One. Specifically, Accenture worked with the client to develop the integrated Day One co-sourcing, billing, forecasting, financial reporting and management reporting solution designs.
Accenture also helped the client implement these solutions by Day One using our change management methodologies and skills. The Accenture team was drawn from Management Consulting, Finance & Enterpise Performance, Talent & Organization Performance and Technology. Among the methodologies and frameworks we leveraged were the Finance Post-Merger Integration Toolkit, Finance Process Excellence Framework, Enterprise Performance Management tools, HR Transformation tools and Process Excellence Framework, and Organization Design Framework.
These assets helped reduce the time taken, while reducing risk and were essential in meeting the deadline. They also helped ensure that the client’s requirements were met while following leading practices.
Most teams were co-led by Accenture and client resources to support the transfer of information.
With Accenture’s help, Towers Watson’s legacy finance and HR functions began operating as one function on Day One. These integrated functions allow Towers Watson to co-source its projects and forecast and report to both internal and external stakeholders while it plans the deployment of its future-state road map.
Knowledgeable people and successfully demonstrated toolkits were key to helping Accenture win this work and meet the tight timelines.
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