Finance-as-a-service on Workday: Making your finance future-ready

Becoming a better business partner while retaining agility, optimizing cost of operations and building resilience is the driving mantra of today's forward-looking finance functions. Finance leaders have recognized that to navigate through the challenges of an increasingly volatile and uncertain business environment, finance must deliver faster and more accurate insights and forecasts at scale while minimizing operating cost and reducing risk. But that can't happen when companies are using dated, costly, inflexible, and disparate systems. They aren't robust enough to execute seamless transactions, manage compliance, perform analytics, deliver reports without considerable manual intervention.

We developed our finance-as-a-service (FaaS) solution with the stature and know-how of four cloud industry authorities – Workday, Genpact, Deloitte¹, and OneSource Virtual (OSV). This turnkey, solution operates on Workday's leading cloud-based ERP platform. And, we've built in Fortune 50 best-in-class finance processes in a standardized managed services solution. That's GenOne for you.

A pre-configured solution built on Workday's leading financial management platform and operated by Genpact (see figure 1) that offers:

• Standardized, best-in-class, and agile finance and accounting processes
• Faster and better ROI due to subscription-based pricing and low upfront client investment
• Easy integration with third-party applications and Genpact Cora; Genpact's AI platform that accelerates digital transformation, using OSV's patented middleware
• State-of-the-art process-workflow automation
• Artificial intelligence to prioritize collections, audit payables, and enable T&E auditing and compliance
• Continuous innovation, application management services, and business continuity planning built into your support agreement

All leading to more freedom for finance to focus on high-value activities and the strategic use of capital to build resilience and drive long-term growth.

Here’s what GenOne on Workday can deliver:

• Actionable insights and decision-making support delivered through the leading cloud financial management platform
• Increased agility for rapid scalability and flexibility, leveraging the breadth and depth of two of the largest finance and accounting transformation partners
• Better controls, governance, and faster and more accurate financial close
• Savings based on best-in-class finance operations with variable activity-based pricing

The subscription fee is benchmarked against best in class F&A costs as a percentage of revenue. In addition, the deployment fee is accounted for in the subscription price and not paid up front during deployment. A packaged offering that can keep your upfront costs minimal, deliver faster payoff, and better return on investment (ROI) when compared to working with multiple vendors for a custom solution.

Another convenience. Genpact acts as the main contracting entity - you only have two contracts to deal with:

• A Workday subscription agreement
• A Genpact managed-service contract

If you're eager to make your finance function flexible, agile, and forward-looking, GenOne is a powerful solution you've been looking to secure. The time to future-proof is now. Why wait any longer?