Cloud Agenda for Finance

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Watch the Webinar >> http://bit.ly/QlKgU0

The Cloud Agenda for Finance:
The Evolving Market for Core Financial Applications & Technologies

Join guest speaker Paul Hamerman of Forrester Research, Inc., for this special webinar as he discusses the key trends and challenges for core Financial Management applications and technologies, and the accelerating shift from traditional ERP financials to cloud-based alternatives.

Attendees will learn about the following:

- Key trends and challenges for 2012 in the Financial Management technology market.
- Recent accelerating shift from traditional ERP financials to cloud-based alternatives.
- Barriers companies typically face when thinking about the cloud/SaaS and how they are being mitigated.
- Financial Management innovation and technologies offered by Workday for enabling increased agility, insight, and control.

About Workday

Workday is the leader in enterprise-class, Software-as-a-Service (SaaS) solutions for managing global businesses, combining a lower cost of ownership with an innovative approach to business applications. Founded by PeopleSoft veterans Dave Duffield and Aneel Bhusri, Workday delivers unified Human Capital Management, Payroll, and Financial Management solutions designed for today's organizations and the way people work. Delivered in the cloud leveraging a modern technology platform, Workday offers a fresh alternative to legacy ERP. More than 280 customers, spanning medium-sized organizations to Fortune 50 businesses, have selected Workday. Visit us at www.workday.com.

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  • 1. The Cloud Agenda for Finance The Evolving Market for Core Financial Applications & Technologies September 13, 2012
  • 2. Today’s PresentersDave BlanchardEditorial Director,Business Finance Paul Hamerman Mark Nittler Laurie Wood VP & Principal Analyst, VP Financial Director of Financials Forrester Research Applications Strategy, Product Marketing, Workday Workday
  • 3. The Cloud Agenda for Finance: TheEvolving Market for Core FinancialApplications & TechnologiesWorkday WebinarPaul Hamerman, Vice President, Principal AnalystForrester Research, Inc.September 13, 2012
  • 4. Agenda Trends and challenges in financial management processes and systems The impact of the cloud on Finance, and drivers for adoption Conclusions© 2012 Forrester Research, Inc. Reproduction Prohibited 4
  • 5. With cloud-based technology, Finance can accelerateaccounting/reporting processes and improvebusiness flexibility without the burdens of costly ITinfrastructure
  • 6. Financial business process challenges • Fragmented and inflexible transactional systems, which companies struggle to keep up-to-date • Lengthy process to close the books › Complex procedures and batch interfaces • Increasing compliance burdens (e.g., SOX, XBRL, IFRS) • A volatile global economy complicates planning and forecasting efforts • Labor-intensive efforts to assemble external financial reporting and regulatory filings • Senior executives need relevant and timely information on financial and business performance
  • 7. Technical debt builds up on traditional financeand ERP applications July 2012 “Measure The Business Impact Of Improved App Strategy”
  • 8. Finance adds value in 3 key areas… but struggles with processes and data Executive Team Consolidated view of cause and Consolidated view of Driving overall success of effects between individual functions and how they impact financial results business 3 impact on business objectivesHuman Resources Sales Manufacturing Research & Development Measuring business performance Effective operational Productivity and Managing resources Forecasting future outcomes execution 2 operational insight Finance Capital planning, budgeting System integration, Accounting and financial reporting Treasury and cash management Cost reduction and efficiency 1 automation, and Risk and compliance process efficiency
  • 9. The Financial Process Life Cycle (FPLC):Finance processes are conceptually linked across the timedimensions of past, present and future…August 2011 “Align Financial Processes And Systems For Better Business Value And Compliance”
  • 10. Agenda Trends and challenges in financial management processes and systems The impact of the cloud on Finance, and drivers for adoption Conclusions© 2012 Forrester Research, Inc. Reproduction Prohibited 10
  • 11. Key trends for 2012 and beyond:Financial management systems • SaaS financial solution adoption will grow at an accelerated pace in the next 3 years, following in the footsteps of CRM and HRM cloud apps • Planning, core financials, and disclosure management are showing high growth already • Regulatory compliance will drive higher levels of investment in financial reporting systems • “Close to Disclose” is an end-to-end process that calls for better automated support and integration • Selection of technology to support financial processes will place increasing emphasis on business flexibility, cloud deployment, and mobile solutions. • Finance assumes a higher level of involvement in selecting, configuring and managing business technology solutions
  • 12. Business application priorities focus on renewal andrationalization, but SaaS is moving up the list +10% yoyJune 2012 “Optimize Your Business Applications For Value And Flexibility”
  • 13. Technology reshapes the business applicationvalue proposition May 2012 “Increase Business Flexibility By Embracing Future Trends”
  • 14. Perceptions of SaaS are changing:It’s about flexibility more than costsApril 2012 “The Changing Cloud Agenda”
  • 15. Companies look to cloud computing to improve agilityand speed April 2012 “The Changing Cloud Agenda”
  • 16. Some firms remain wary of deploying SaaS apps, but concerns are losing steam ‘What are your firm’s concerns about using SaaS?’ “4” or “5” on a scale of 1 to 5 where 1= not at all concerned and 5= very concerned. Security and privacy issues are difficult to control 72% Integration with other applications is a challenge 66% SaaS can financially lock us into staying with the same… 53% The total cost will be higher 50% Application performance (e.g., downtime, speed) are… 48% Transition and migration toward SaaS is complex and risky 42% SaaS is not customizable 41% Pricing is unclear or complicated 37% We cant find the specific SaaS applications we need 33% SaaS technology is technically immature 33% Base: 556 North American and European software decision-makers in enterprise organizations Source: Forrsights Software Survey, Q4 2011© 2012 Forrester Research, Inc. Reproduction Prohibited 16
  • 17. Comparing deployment models: HostedCloud versus SaaSDeployment Hosted Cloud SaaScharacteristic  Single tenant – each customer  Multitenant – all customers on Tenancy has own version of the app the same software instance Software technology  Mature  Embracing new technologies  Dedicated application  Shared application and Hosting model instance, shared computing infrastructure resources  Upfront license, recurring sw Payment model maintenance and managed  Subscription, all-in services fees  Vendor-managed, but  Vendor-determined, more Updates and upgrades customer chooses upgrade frequent, less effort for timing customers Customization  Configure and customize  Configure only in metadata
  • 18. Agenda Trends and challenges in financial management processes and systems The impact of the cloud on Finance, and drivers for adoption Conclusions© 2012 Forrester Research, Inc. Reproduction Prohibited 18
  • 19. Summary: Drivers of adoption for cloudfinancial systems• Systems are upgraded and updated regularly – reduced obsolescence• Faster deployment times• Business agility, and less dependence on internal IT for systems support• Transparent cost of ownership via subscription model• Business insight delivered quickly and in context• Business people manage the system, including processes, business rules, and reporting structures
  • 20. Opportunities for Finance: optimize your applications forinsight, flexibility, and sustainabilityMay 2012 “Optimize Application Strategy To Generate Business Value”
  • 21. Workday Financial Management Mark Nittler – VP Financial Solution Strategy
  • 22. Stuff Happens
  • 23. …Can’t get There From HereTraditional Market ERP IdealHeavy LightComplex SimpleExpensive EconomicalRigid AgileIrrelevant Relevant
  • 24. “The significant today problems we face cannot be solved at the same level of thinking we were at when we created them. ”
  • 25. A New Level of Thinking New Delivery New Technology New Approach 26
  • 26. Accounting Centric Architecture – Today Business Intelligence System Dashboards, Scorecards & Spreadsheets Data Warehouse OtherSystems Summary Lines Accounts Financial & Statutory HR Reporting Data Mart Journals Segregation of Duties AP AR Pay SecurityWorkflow Journal Journal Journal Entry Entry Entry
  • 27. Unified Finance Reporting & Transaction Governance, Analysis Processing Risk & Compliance Transactions Efficient & Accurate Accounting Governance Effective, Proactive Controls Analysis Actionable Business InsightWORKDAY CONFIDENTIAL
  • 28. New Assumptions• Business is about commerce• The whole business wants good information• Assume you have a computer
  • 29. Workday Business First Architecture Dashboards, Scorecards Financial & Statutory & Spreadsheets Dashboards, Scorecards Business Intelligence System Reporting & Spreadsheets Data Warehouse Summary Lines Accounts OtherSystems Summary Journals Lines Accounts Financial & Statutory HR Reporting Data Warehouse Data Mart Journals Segregation of Duties SecurityWorkflow AP AR Pay Buy Journal Sell Journal Receive Journal Pay Entry Entry Entry
  • 30. Workday Business First Architecture Dashboards, Scorecards Financial & Statutory & Spreadsheets Reporting Summary Lines Accounts Journals Event Repository Workflow Segregation of Duties Buy Sell Receive Pay Security
  • 31. AgilityOrganization Process Information Integration• Org Model • Business • Worktags • Studio Process Framework
  • 32. Workday Financials Demo Laurie WoodDirector of Product Marketing, Workday Financials
  • 33. Key Takeaways ERP Financial Management Systems have become costly and complex The cloud offers finance agility and faster accounting/reporting processes without the burdens of costly IT infrastructure Workday is taking a leadership position in the market by offering a unified, world class, Financial Management solution (HR-Payroll-Financials-Expenses-Procurement)WORKDAY CONFIDENTIAL
  • 34. Thank You!For More Information: Email/Follow Paul Hamerman:  phamerman@forrester.com  Twitter: @paulhamerman Meet Workday Financials: http://www.workday.com/applicatio ns/financial_management.php Attend a Workday Live Demo: http://www.workday.com/resource s/workday_live.php Contact Workday: +1.925.951.9000