For over 100 years, Suncorp Group has been offering insurance, banking and wealth products and services through some of Australia and New Zealand’s most recognised financial brands. The company has been based on a strong conviction: we are building a sustainable and responsible financial services group that will help our customers, people, shareholders and communities to prosper.

With the unprecedented impacts of COVID-19, the insurance and banking sector will continue to face fluctuating uncertainties. Organisations will be forced to focus on improved ways of working, such as a digitally-enhanced employee and consumer experience. Stricter regulations within the insurance industry, combined with an increasingly competitive landscape and a growing number of smaller, more agile players are disrupting the status quo and putting pressure on premiums and operating margins. From an employee engagement perspective, external factors have driven digital transformation and introduced new operating models – employees now expect more from their business systems, no matter where they are working from. The modernisation of the consumer experience has seen a greater demand for access to improved systems within the workplace. This expectation requires a flexible digital platform that enables employees and managers to be more effective in their roles.

Legacy-bound internal technology platforms are often strained and cumbersome. To stay agile in response to shifts in market demands and business drivers, organisations need to reply on accurate, real-time, data-driven insights to manage uncertainties. As businesses increasingly need to understand their workforce composition and skill mix, in order to drive operating efficiencies, customers such as Commonwealth Bank, Aon, Unum, and Prudential have chosen Workday.

The Workday platform is built on a unique and highly flexible technology architecture framework that provides a single source of truth across HR and finance, enabling:

• Data-driven business decisions: A solid foundation for business insights that is built on data integrity, having transactions and reporting from the same platform providing accurate, real-time dashboards, as well as predictive and prescriptive analytics.
• Agility to respond to business needs: Ability to plan for the future using scenarios, and seamlessly execute plans with ease by leveraging a platform that is both easy to configure and enables dynamic adjusting and re-planning.
• Engagement of employees through a personalised, intuitive, and mobile-enabled experience, to ensure they can keep their focus on the number one priority – the customers.
• Reduce cost by increasing efficiencies, onshoring business processes and driving cost reduction in contingent labour management, as well as reducing the number of HR and finance systems and removing the need for ongoing IT support for systems and reporting.

With the recent organisational refocus and Suncorp’s ongoing commitment to delivering value to its customers across all brands and service lines, Workday can support Suncorp by offering an agile system that is built on the foundation of a flexible business process framework. As your business is required to respond with rapidly changing operating and financial models, our solution allows you to scenario plan your workforce to meet the shifting demands today and into the future, and our always-on audit capability that ensures your business remains accountable and compliant throughout any change process.