Workday Delivers Data Management and Machine Learning Innovations for the Changing World of Finance
Advances in Managing Data Create New Levels of Insight and Performance Accountability for Today’s Agile Organizations
Workday, a leader in enterprise cloud applications for finance and human resources, announced availability of Workday Accounting Center and machine learning (ML)-driven predictive forecasts for Workday Adaptive Planning, as well as additional functionality across its finance offerings, to drive insights, agility, and efficiency. These innovations transform the way customers engage with data, bringing new levels of visibility and control to the office of the Chief Financial Officer (CFO).
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Today’s finance teams are challenged to achieve greater agility amidst the ever-changing business landscape heightened by the pandemic. Real-time data and insights are key to agility, yet many finance organizations have disconnected data sources and legacy accounting systems, which can no longer keep pace in today’s changing world. Valuable time is spent collecting, reconciling, and validating data instead of delivering trusted insights to the organization. To address these critical challenges, Workday continues to advance its cloud planning and financial management solutions with ML and data management capabilities.
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Creating Agility with an Intelligent Data Foundation
Workday is going beyond the boundaries of traditional ERP systems to solve a problem that has plagued the industry for decades—keeping up with the ever-increasing volume of operational data and turning it into accounting and insight faster and more efficiently. Now commercially available, with early adopters such as CNA and Shelter Insurance currently in production, Workday Accounting Center represents a fundamental change in the way finance manages operational data.
Workday Accounting Center enables customers to ingest operational data, enrich it with meaningful attributes, and transform it into accounting. This allows customers to manage operational and financial data from multiple sources with a single point of control across the enterprise.