I’ve written in the past about why ERP is out, and unified HR and finance is in, and how this impacts finance and HR team dynamics in 2014 and beyond. And, I’ve noted companies are making these changes to gain better insights into operations and support their overall growth agendas.
Yesterday, Workday announced that JDA Software had selected Workday Financial Management with plans to migrate off its legacy ERP system and unify its HR and finance in the Workday cloud. It’s yet another example of a company that realizes the value of this move and where it can lead. From the news release:
“Previously, JDA had financial data coming from multiple systems leading to inefficient processes. With Workday, JDA will have one global system of record for both its people and financial information with built-in analytics and reporting enabling real-time analysis across any dimension of the business, such as revenue by business line or geography.”
What happens when real-time analysis of unified HCM and financials is realized? In a case study, TripAdvisor CFO Julie Bradley talks about how it benefitted her company in preparation of the close of a fiscal quarter.
“‘We exceeded everyone’s expectations. We were able to get an early flash of the numbers. We were able to do deeper analytics—less wait time and more thinking time. My team was really able to understand the numbers. And we could give that information back to Wall Street and our business.’ She concludes, ‘Workday has helped us evolve from just reporting the numbers to being able to analyze the numbers and provide value back to the business.'”
Siobhán Mc Feeney, chief operating officer at AAA Northern California, Nevada, & Utah, points to how visibility into people and financial data can help drive growth strategy in another case study:
“‘Previously, I couldn’t really spend time on growth because it was just a shot in the dark,’ she says. ‘I can actually now use real information from Workday, both from our people side and our financial side, to say, it’s likely we could grow in these five lines. And here’s what it might look like. It’s going to be a gift in this year’s strategic planning. It’s a big deal.'”
We are excited to welcome JDA Software to our growing number of customers with unified financials and HCM. As we can see with TripAdvisor and AAA NCNU, great things happen when HR and finance come together.