Stabilizing a Complex Workday Finance Implementation: A Case Study


04.12.2022 | Case Studies


A midsize financial services firm had implemented the Workday Finance module, but suboptimal configurations led them to perform manual operations to balance the books. Agilysis helped the client reconfigure the system and stabilize the environment.

The Challenge

Eager to streamline their record-to-report processes, a financial services company implemented Workday Finance systems to track the performance of its various funds. The firm’s intercompany accounting processes were complex, as it had to allocate supplier expenses to its various funds, account for fund refunds, and reclass and settle accounts in foreign currency.

The implementation partner, inadvertently, decided to use a rapid implementation methodology to deploy Workday Finance. The fast-and-furious implementation failed to account for the intricacies of the firm’s intercompany fund operations, leaving them with suboptimal configurations which did not cater to the complexity of the business processes. As a result, the client had to carry out a whole host of manual operations, causing overall frustration within the firm’s finance and fund management teams.

The Solution

Agilysis, along with another partner, mapped the firm’s intricate processes to identify gaps in the original implementation. By diagnosing these gaps, our team was able to achieve four areas of improvements:

  • Configuration refinements – This allowed the client to enable complex intercompany and fund accounting processes which were vital to their operations.
  • Integration development – Our actions allowed the client to automate supplier invoices, ad hoc bank transactions, FX rates data and fund allocations which they had been forced to handle manually.
  • Complex reporting – We leveraged the auto reconciliation capability to enable accurate reporting in a significantly shorter period of time.
  • Security enhancements – By reconfiguring the security setups, we ensured the right people had the right security access privileges to do their job.

The Result

The client had a second ‘Go-Live’ with new Workday Finance module configurations and integrations. This has resulted in stable environment that meets their needs with little manual processing – and far fewer stress headaches for the people in their organization.

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Do you have a project in the Workday finance module that needs expert guidance? The Agilysis team has the functional and technical skills to optimize your Workday environment and ensure long-term success. Get in touch with us today to get started.

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