Pre-configured Deloitte solution for Workday Financial Management helps investment management organizations standardize data, streamline financial processes, and accelerate digital transformation
NEW YORK, March 5, 2024 /PRNewswire/ — Deloitte today announced the launch of InvestAcceleration, a new suite of solutions designed specifically for the investment management industry and is an industry-specific approach to implement Workday Financial Management.
InvestAcceleration, helps investment management firms address risks and challenges, including lack of agility, complex workflows and disparate data models. With InvestAcceleration, companies can implement Workday Financial Management faster, obtain real-time data for greater business insight, and gain augmented industry-specific capabilities, such as digitally enabled processes for fund reimbursables and intercompany accounts payables and receivables. By utilizing the industry-specific solution use cases, digital transformation practices, and cloud-migration tools delivered by Deloitte and Workday, joint customers can speed their time to value.
“Our industry accelerator from Workday, InvestAcceleration, helps set our joint clients up for future success by enabling them to invest in growing and expanding the business and the level of services they provide to their customers,” said Julia Cloud, partner, Deloitte Tax LLP and Global Investment Management leader. “It also provides clients with a platform for modernizing operations and creating built-in financial discipline so they can leverage transformative solutions for managing their finances and workforce.”
InvestAcceleration joins InsureAcceleration as the latest in Deloitte’s collection of Industry Accelerators from Workday designed specifically for the financial services industry. Both accelerators are created to help companies to standardize their data models, which lays the foundation for delivering greater business insight, enhancing cost transparency, and advancing artificial intelligence and Generative AI solutions.
“Workday Industry Accelerators help solve the most critical challenges for finance professionals, at speed,” said Sophie Sharp, senior vice president, Global Industries and Value Management, Workday. “InvestAcceleration with Deloitte is the latest example of combining the power of the Workday platform and the experience of our alliance ecosystem to help customers evolve their businesses to keep pace in a changing world.”
Franklin Templeton, a large global investment management firm, recently worked with Deloitte to lead the Workday-powered transformation of its people and financial systems around the world. According to Robert deLeon, VP and head of Finance Effectiveness, “We chose Workday because of the scalability and agility of its platform that allowed us to integrate all of our entities, including recent acquisitions, onto a single finance platform. Deloitte’s understanding of the unique characteristics of the investment management industry coupled with their knowledge of the Workday platform and ecosystem, and business transformation capability helped us complete the implementation on time with confidence.”
As a globally recognized leader in consulting and Workday services, Deloitte helps businesses harness the value of Workday’s platform to drive business impact. It also offers application management services (AMS) and business process services (BPS) capabilities that help investment management, insurance and other types of financial services companies to further optimize their platforms beyond the initial implementation.
With Industry Advantage, we give our clients access to the full breadth of thinking, experience, and technology from across Deloitte, our people, and our ecosystems. Because of our deep sector knowledge, we can apply these capabilities in the most efficient, targeted way possible to differentiate our clients’ businesses from the rest of the industry, and drive growth. Deloitte’s targeted approach to core business transformation is guided by our understanding of the future of industries. Our industry capabilities are informed by the collective insights of our strategy, engineering and innovation talent, our external ecosystems and alliances; and our broad experience delivering business-critical work for our clients. We demonstrate the most important areas of disruption for your industry and then implement exactly what your business needs to tackle front-office challenges and create sustainable advantage.
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SOURCE Deloitte
