Tokio Marine Kiln (TMK) employs about 800 people globally and has three syndicates at Lloyd’s of London. Its finance and human resources departments used multiple, disparate systems, with each business function operating independently of the other. TMK was running on a disjointed technology landscape, spreadsheets and even an honesty system for holidays, and required a new operating model.
TMK asked Accenture to deploy Workday Human Capital Management, Finance, Payroll and Procurement to bring its UK and Singapore businesses on to one efficient system, making it one of the first major UK insurers to do so.
Accenture and TMK designed a single, modular system aligned to TMK’s key business processes, with few integrations and customization to reduce complexity.
The team used Workday’s launch methodology to rapidly deploy the out-of-the-box system in just over six months, reviewing, testing and iterating along the way. Virtual tools helped maintain close collaboration during the pandemic, while bitesize meetings complemented by targeted training helped stakeholders grasp new concepts faster.
Workday HCM, Finance and Procurement were deployed in the UK and Singapore with Payroll also deployed in the UK. A new expenses module was deployed in 12 weeks and critical external people data was integrated via Workday Prism.
A valuable difference
With key HR and finance data accessible in one place, greater self-service via Workday’s mobile app, and continued support from Accenture’s Application Management Services (AMS) team, TMK is realizing greater efficiency and productivity. HR no longer needs to navigate a complex system of email chains and spreadsheets to track everyday functions, while the workforce can quickly update personal data or approve roles within the app.
The London and Singapore businesses now use one chart of accounts, and automated reports provide greater visibility of the global business. TMK continues to update its Workday system and plans to extend it to its US business and other subsidiaries to gain even deeper insights.
Workday’s launch methodology was used to rapidly get the out-of-the-box system up and running in just over six months.
A new Workday expenses module deployed in 12 weeks with critical external people data cohesively integrated via Workday Prism.