July 18, 2017 | Written by: Stephen Francis
Your organization is growing quickly and you can no longer afford to have so many manual processes. Maybe your CFO needs more insight on the performance of the business. Or perhaps you’ve been on the same systems for 20–25 years, and they’re now outdated. Whatever the reason, it’s clear the time has come: You’ve decided to upgrade your systems to better manage your organization’s finances and people, and gain more insight into your business.
Hopefully, you’ve chosen an ERP like Workday to help consolidate and streamline your business processes, and accelerate your business transformation. If that’s the case, here are four things to consider before you deploy Workday Financial Management — whether you’ll also be updating your HR system now or not.
1. Define Your Organization
Regardless of whether or not you’re deploying Workday HCM simultaneously with your Financial Management deployment, it’s important to involve your HR team from the start. This is key, because the first step in your deployment will be to set up foundational HR data so people are assigned to the right companies, cost-centers, etc. This also ensures you’re planning as an organization, as it’ll provide a more seamless, cost-effective and streamlined experience, which will in turn benefit your business.
2. Know Your Integrations
Chances are good your office environment currently consists of multiple systems and technologies — many or all of which will need to be integrated with your new financial system (i.e., Payroll). For planning purposes, it’s critical you identify what other systems you need before deploying a brand new system of record.
3. Get Your Team Ready
Depending on timing and size of your deployment, it’s important you have the right client team on board and ready to assist. For example, it’s a good idea to designate a full-time internal project manager so someone is always managing resources and promoting efficiency to maintain the agreed upon timeline. This will save you time (and possibly money) down the road.
4. Choose Your Business Functions
Workday allows you to pick and choose the business functions that are most relevant to your business, so you’ll want to keep those in mind throughout your deployment. Keeping your business functions top of mind will help you gain efficiency and flexibility during your deployment, which is very much in alignment with Workday Financial Management’s mission — to efficiently manage costs while supporting growth objectives.
Whether you’re deploying Workday Financial Management independently or in conjunction with Workday HCM, these are four important aspects of the project to remember. Be ready to discuss these items at your planning/roadmap meetings, as part of your deployment journey.