Workday is one of the most powerful solutions on the market, but it’s not always the easiest to get up and running, with a typical implementation taking anywhere from 6 to 14 months. Tack on unforeseen delays, and you may end up cutting into your ROI for a tool that should be saving you money. This being the case, Workday developed a solution to help speed up the implementation time for organizations of all sizes: Workday Launch.
Workday Launch is a preconfigured, best-practice deployment package that helps customers quickly get up and running. It’s been widely used in medium enterprise organizations, and recently, Workday even rolled it out for large enterprise customers. While you most often find Workday Launch used for HCM purposes, we’ve also assisted clients looking to take advantage of the solution to help out their Finance departments.
Workday Launch for HCM (and Finance)
In addition to being a great option for HCM, Workday Launch can also be really useful for your Finance team, so long as you keep in mind that a pre-configured solution cannot serve every organization’s unique needs right out of the box. There will be a few modifications that will need to be made in regards to reporting, security, and business processes if you want to avoid headaches down the line, and it’s best to make these changes during implementation rather than after.
While some of these problems are minor and can be easily fixed, others are more complicated and could be trouble post-go-live, or even years in the future. To help you avoid these metaphorical potholes in the first place, we’ve collected some tips and tricks to keep in mind during your Workday Launch rollout. (Trust us—your Finance team will thank you for them.)
Many organizations require additional reports that aren’t available with Workday Launch. The most common reports that will also need to be set up include:
- Automated reports of financial packet and opportunity for board reporting
- Income statement trend reports by month by account code with summary and detail lines
- Reports that allow you to download actual costs and budget at the same time for month and year to date
- Reports separating director by cost center
- Reports to support month and year to date variance commentary analysis for income statement revenue and expense line items
- SVI income statements
When you’re dealing with financial data, setting up security correctly is key, and while Workday launch does a great job of getting you in the general ballpark of where your system needs to be, you will need to remember to customize the following yourself:
- Reporting security so that desired users can see their cost centers
- Building of standard work for FM security roles for core functions within and external to finance teams
Ensuring your business processes go smoothly is vital when it comes to making sure Workday is actually working for your Finance team. After all, there’s no sense in implementing a new solution if it results in more manual labor or wasted time than your old one, right? That’s why you’ll want to pay attention to the following during your Workday Launch rollout:
- Automation of month-end close processes
- Approval process for costs that belong to multiple departments
- Automated escalation process for invoices that haven’t been paid
- Auto approval of recurring invoices where invoice matches the expense
- Changing the refund check process so that multiple refunds can go on one check versus requiring multiple checks to be printed
How to Make Workday Launch Work for Your Finance Department
Workday Launch provides customers with a strong foundation with its preconfigured approach. However, no “out-of-the-box” solution works perfectly for every business, which is where Surety System comes in. Our senior-level Workday consulting team has the expertise to help you customize the solution to best fit your unique situation, as well as avoid some of the roadblocks that could slow down your implementation time.
Contact us today to get started on your next Workday project.