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CLIENT CASE STUDY


Leading Global Financial Services Firm: HR Transformation Using Workday

Accenture helped a leading global financial services firm transform its HR organization from being a service center to a proactive talent management center.

OVERVIEW

To stay competitive and achieve its growth aspirations, a leading global financial services firm wanted to transform its HR operations by adopting industry recommended practices. Accenture leveraged its extensive systems integration and Software as a Service (SaaS) experience to migrate the firm’s HR systems from its existing custom-developed, inflexible platform to Workday—a cloud-based human capital management software solution—to lend flexibility to the firm’s HR function and maximize business value. By transitioning to the new HR IT platform, the company was able to improve talent and performance management, reduce operational risks associated with earlier manual processes and achieve necessary future scalability.

Client profile
The client is one of the world’s leading private, alternative asset management firms. It specializes in private and public equity, fixed income and credit, venture capital and absolute return investments across multiple sectors, industries and asset classes.

OPPORTUNITY

The firm wanted to transform its HR operations to create a sustainable competitive advantage for its business. However, the firm’s existing, custom-developed core HR platform was rigid and restrictive with an inflexible organization structure and used too many manual processes.

The firm wanted to move to a cloud-based HR platform to avoid the high costs of supporting its in-house HR solution and gain access to continuous innovation and industry recommended practices.

SOLUTION

Leveraging its Global Delivery Network, Accenture also implemented Workday Core HR, Benefits, Performance Management and Leave of Absence modules, and integrated with ADP PayForce® and Taleo Recruiting applications. Using a team of local and global resources from its Global Delivery Network, Accenture provided the firm the necessary technical skills and finance domain experience. Accenture delivered incredible value to the client during Workday implementation by loading of nearly 30 years of the firm’s historical HR transaction data into the new platform. This allowed the firm to work with a single system post transition, providing access to historical HR transactions by simply changing the effective date of the system. Likewise, Accenture integrated nearly 40 interfaces with the firm’s payroll, benefits, recruitment and other systems to provide a seamless operating experience to HR administrators, supervisors and employees.

RESULTS

The firm’s new global Workday HR system went live in March 2013. Today, it serves as the firm’s single HR system with nearly 1,000 users across eight countries. By transitioning to the new HR system, the client was able to reduce operational risks associated with earlier manual processes and provide necessary future scalability. With the advanced analytics and reporting capabilities of the Workday system, the client’s HR organization became more productive, spending less time on manual tasks and generating more business value through better talent and performance management.

Accenture continues to provide application management to the firm to help to optimize and integrate new functionality— to help the client gain the full value from their Workday investment—helping them to run faster, run smarter and more efficiently than ever before.