WNS provides cutting-edge outsourcing services for businesses around the world, but the company adhered to traditional methods for its financial budgeting processes. Only when it was growing at a rapid pace – with 350 global clients, 600 business processes and 60 delivery locations – WNS realised it needed a financial performance solution that makes the budgeting process more efficient and compatible in a technology-focused corporate culture. WNS tightened its grip on the budgeting process through reporting automation in Workday Adaptive Planning. The migration to Workday Adaptive Planning led to more time for deeper and meaningful analysis on areas that need improvement.
Our financial consolidation is faster, and we have a tighter grip on the budgeting process. This year we spent more time on analysis and were able to point out areas we can improve on in the future.
Head Corporate Strategy
- Closing the budgeting cycle required 25 financial analysts and a timeline of five months
- 40-day deadline to complete CPM implementation before upcoming annual budget
- Desired a financial performance solution that keeps pace with a technology-focused corporate culture
WNS cuts annual budget cycle with Workday Adaptive Planning.
Exactly how much of an efficiency improvement can collaborative, cloud-based finance tools bring to your business?
For WNS Global Services, upgrading from conventional financial budgeting methods to financial planning cut the time taken by the company to complete its budgeting cycle by 50 percent.
Complexities in budgeting – a result of fast growth, global reach and scale.
WNS is a leading NYSE-listed Business Process Management (BPM) company known for implementing technology-centric processes both internally and for its clients. While the company had automated most of its FP&A processes, financial budgeting was still done using traditional methods.
Moreover, WNS was growing at a rapid pace. With over 200 global clients in its roster, 600 business processes to deliver across 34 global delivery locations, closing the budgeting cycle would take 25 financial analysts and about five months, given the intricacies involved.
WNS was thus prompted to look for a technology solution that would match up to its technology-focused corporate culture, while helping create an efficient budgeting process.
Workday Adaptive Planning – the right choice.
Oracle Hyperion and Workday Adaptive Planning were in contention when WNS started evaluating solutions. WNS felt that Adaptive would meet the organisation's requirements based on a proof-of-concept. WNS chose to implement Adaptive within an aggressive timeframe of 40 days for its upcoming annual budget.
Workday Adaptive Planning partner delivers implementation.
WNS needed a talented, dedicated partner to help meet this deadline. The organisation found one in Deflytics Software – a Workday Adaptive Planning partner that specialises in business intelligence and analytics implementation.
"Deflytics did a great job for us", said Serish, General Manager, Finance at WNS. "They delivered the project ahead of time, in spite of several design evolutions that we went through during the implementation."
More time for deeper analysis.
With the budget cycle and profitability analysis process cut in half, WNS's team of analysts, once engaged in tedious data collation, could now focus their attention on deeper analysis.
"We can now perform a deeper and more meaningful level of analysis with Adaptive. This kind of a granular analysis will give us a better visibility into our spending and costs. Our financial consolidation process is faster, and we have a tighter overall grip on the budgeting process. This year we spent more time on analysis and were able to point out areas in which we can improve upon in the future", said Arijit Sen, Head Corporate Strategy, WNS.
Now the company's allocations are completely automated and the annual budget is presented to the Board of Directors in half the time. That leaves much more time for a wide variety of analysis, including:
- Deeper drill-down into data behind the final numbers
- Changing annual assumptions to create different "what-if" scenarios
- Building a broader set of financial reports to better analyse data
The time saved by automated budget rollups, consolidation and allocation has the WNS team thinking about bigger financial efficiency goals. This will help manage the complexity of the business and scale further.
We can now perform a deeper and more meaningful level of analysis with Adaptive. This kind of a granular analysis will give us better visibility into our spending and costs.
Head Corporate Strategy