Challenges.
Before Workday, Life Time used multiple costly and inefficient applications. With 38,000 employees, it needed a better system. Business processes were slow and paper-intensive, with little integration between finance and HR. This fast-growing company faced rapidly changing compliance requirements, had an overly complex general ledger, and lacked scalability.
Why Workday.
Life Time initially deployed several Workday applications and more recently added Workday Prism Analytics. Each of the Workday tools changes an important area of the business for the better and, as part of the integrated Workday system, they all help Life Time attain a new level of employee productivity.
Change is the only constant here. Workday helps us achieve our goals for different business entities in an easier manner by making it possible to support changing requirements with great flexibility.
Director, Workday Operations and Process Improvement
Benefits and results.
Streamlining finance management.
When Life Time first went live on Workday, the company immediately gained efficiencies in finance management, greatly reducing the complexity of systems and the burden of administrative tasks.
60 to 1
systems consolidated
10,000 to 1,000
chart of accounts reduced
2/3
of FTE financial support cut
48
hours to 1 hour reduction in payroll processing time
Rapid error resolution with data-driven insight.
After deploying Workday and using its capabilities for fueling intelligence with data, Life Time noticed a dramatic improvement in accounting.
Life Time is looking forward to broadening the use of the machine learning functionality and other data insight features in the Workday applications to generate greater efficiencies. The company also expects to take advantage of the application in attracting and retaining talent with the right mix of skills.
Resolved accounting errors in 30 minutes instead of 1 day
The machine learning capabilities in Workday give us time back and provide journal insights. A process that used to take us as long as a day can now just be a 30-minute refresh of a report.
Senior Accounting Manager
Evolving the company.
Life Time has rolled out mobile Workday capabilities to all employees, and almost everybody uses them every day. Employees in the clubs can focus on the most important part of their jobs—serving members' wellbeing and delivering a great experience. Automation and process simplifications enabled by Workday help managers adjust quickly as business needs change and manage high-volume, high-turnover recruiting. Life Time values Workday as a technology that can help it grow far into the future.
95%
of employees use Workday mobile apps
35,000
daily logins to the Workday mobile app
50%
savings on overtime costs
50,000
manager hours saved per year