This webinar replay shows how accounting teams can perform financial close remotely. The chief accounting officer and senior director of FP&A at Workday share best practices and recommendations for preparation, planning, and execution

1. Best Practices for Scenario Planning and
Remote Financial Close

2. Best Practices for Scenario Planning and
Remote Financial Close
The Looking Forward with Workday webinar series is evolving to give you insight into
how Workday can support your organization as you respond to the changing needs of
your employees and your business during this challenging time.

3. Housekeeping Items
Help Slides Media Player Q & A Resource List Speakers Survey

4. This presentation may contain forward-looking statements for which there are risks, uncertainties, and
assumptions. If the risks materialize or assumptions prove incorrect, Workday’s business results and directions
could differ materially from results implied by the forward-looking statements. Forward-looking statements include
any statements regarding strategies or plans for future operations; any statements concerning new features,
enhancements or upgrades to our existing applications or plans for future applications; and any statements of
belief. Further information on risks that could affect Workday’s results is included in our filings with the Securities
and Exchange Commission which are available on the Workday investor relations
webpage: www.workday.com/company/investor_relations.php
Workday assumes no obligation for and does not intend to update any forward-looking statements. Any
unreleased services, features, functionality or enhancements referenced in any Workday document, roadmap,
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Workday’s discretion and may not be delivered as planned or at all.
Customers who purchase Workday, Inc. services should make their purchase decisions upon services, features,
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Safe Harbor Statement

5. Philippa Lawrence
Chief Accounting Officer
Workday
Tom Peff
Product Marketing Director
Workday
Kinnari Desai
Senior Director, FP&A
Workday
Sam Buchner
Product Marketing Director
Workday

6. Agenda
Workday Confidential
01 Impact of COVID-19 on the Office of the CFO
02 Best Practices COVID-19 Respond Strategy
03 Scenario Planning
04 Remote Close
05 Demo
06 Q&A

7. Office of the CFO Best Practices
COVID-19 Respond Strategy

8. Workday Office of the CFO Respond Strategy
Efficacy
Agility
Insight

9. Office of the CFO Respond Strategy
03
Holistic Risk Assessment
Understand risk exposure and
disclosure impact
04
Adapt Scenario Modelling
Model out best- and worst-case
scenarios vs. endless scenarios
05
Adapt Close Process
Survey team to surface potential
problem areas
01
Leadership Alignment
Determine where to focus
02
People First
Check in with teams

10. Office of the CFO Respond Strategy
01
Leadership Alignment
Determine where to focus
02
People First
Check in with teams
03
Holistic Risk Assessment
Understand risk exposure and
disclosure impact
04
Adapt Scenario Modelling
Model out best- and worst-case
scenarios vs. endless scenarios
05
Adapt Close Process
Survey team to surface potential
problem areas
Emergency Expense Policy
Tracking & Forecasting these new
category of expenses
Employee Relief Bonus
Scenario modeling for P&L and
Operating Cash Flow
People
Revenue
Margin
Cash
Real-time Insight and Modeling

11. 04
Adapt Scenario Modelling
Model out best- and worst-case
scenarios vs. endless scenarios
05
Adapt Close Process
Survey team to surface potential
problem areas
Office of the CFO Respond Strategy
03
Holistic Risk Assessment
Understand risk exposure and
disclosure impact
Customers ✔️
Cash ✔️
Cost ✔️
Capital ✔️
Valuation ✔️

12. Office of the CFO Respond Strategy:
Scenario Planning Best Practices
05
Adapt Close Process
Survey team to surface potential
problem areas
06
Increase Communication
01 Prioritize
Prioritize and efficiently model the 3-5 scenarios
02 Gain Business Input
Volatile market requires business input into plans
03 Adapt Scenario Planning
With changing environment and data set, increase frequency
04 Over Communicate
Publish plans for all – finance, accounting, and line of business
05 Educate
Ensure business understands and is bought into the latest plans
60 100
30 100
70 100
70 100
70 100

13. Scenario Planning with Workday
Operational Data
for Deeper Insight
Share Updated
Forecasts and
Publish Plans
Line of Business
Reporting
Model Best and
Worse Case
Scenarios
Prism Analytics Elastic Hypercube Financial
Analytics
Financial
Analytics
Access to Actuals
Transactions with
Deep Insight
We can complete scenario modeling cycles 50% faster compared to spreadsheets.
– Kinnari Desai, Senior Director, FP&A, Workday
Drivers and
Assumptions
Prioritization

14. Office of the CFO Respond Strategy:
Remote Close Best Practices
01 Close Survey Identify potential bottlenecks across the accounting team
✓
02 Plan vs. Actual Be in lock step with FP&A on the actuals relative to the plan
✓
03 Setup Controller
Command Center
Setup Controller dashboard for visibility into close progress, cash,
collections and more. ✓
04 Monitor Close Track steps and phases to ensure completion, reconciliation and
certification ✓
05 Complete Deep
Financial Analysis
Support external reporting e.g. 10Q and Investor Relations
✓

15. Remote Close with Workday
Consolidate as You
Transact
Detect Anomalies
Financial and Line of
Business Reporting
Account Rec and
Certification
Realtime
Processing
GL and Close in
One
Intelligent
Applications
Financial
Analytics
Transactions with
Deep Insight
Object Data Model
Workday offers a powerful and dynamic data model that allows you transact and consolidate within 30
seconds. Workday helps you close faster and more confidently than any other system I have used.
– Philippa Lawrence, Chief Accounting Officer, Workday
Compare Plan vs.
Actuals
Prioritization
Period Close
Checklist
Realtime
Monitoring

16. Workday Helps Finance Achieve Three-Pronged
Respond Strategy
Efficacy
Agility
Insight

17. DEMO
HIGHLIGHTS
Immediate Insight into
Risk
Model Best and Worst-Case
Scenarios
Execute a Remote Close
21 3 4
Share Results with the
Business

18. DEMO

19. • The power of one source for data for the Office of the
CFO
• Powerful scenario planning to adapt for best- and worst-
case scenarios
• Real-time in-memory view of consolidated results of
transaction approval
• Drag and drop ad hoc analysis of journal data
• Real-time GL, financial consolidation and close in one
system
• Identification and resolution of anomalous journals with
machine learning
What You Saw Customer Proof Points
Teresa Serrano
Controller, Production Operations
DEMO
RECAP
By having a solid foundation and close
process in place, we were able to navigate a
remote close during COVID-19 with ease.
With Workday being a cloud-based solution,
we’re able to access our GL data, monitor
and manage the close, and audit from
anywhere.
Lacy Rice
Manager of Financial Reporting, Shelter Insurance

20. • Don’t lose sight of your long-term strategic goals
• Prioritization and executive alignment is key
• Great opportunity to rethink and redesign strategy and execution
• Continue to remain agile
• New perspective on remote work
• Focus on your people
Key Takeaways

21. Q&A

22. Thank you for joining us!
Our series has expanded. Join us in these upcoming sessions:
Tuesday 10 AM PT
May 12, 2020
Gaining Critical Insight into your
Workforce
Thursday 10 AM PT
May 14, 2020
What’s New and What’s Next for
Workday Learning
Tuesday 10 AM PT
May 19, 2020
Why Effective Cash and Liquidity
Management is Essential When
Responding During a Crisis
Tuesday 10 AM PT
June 2, 2020
Now & Next Practices for
Planning & Analytics with
Accenture and Workday
Thursday 10 AM PT
June 11, 2020
Navigating the Changing
Business Landscape for Midsize
Organizations
June 16, 2020
Tuesday 10 AM PT
Supplier Management Best
Practices During Uncertain
Times

23. Thank You