Challenges.
Collaborative Solutions (Collaborative) has built and scaled their global business with Workday. The company has grown rapidly, catapulting in size to over 1,000 employees who have served over 625 companies in over 125 countries.
Why Workday.
With Workday, finance and HR can better support growth and continuously improve the candidate, new hire, employee, and client experience. Collaborative now has a dedicated HRIS team and eliminated temporary assignment of project managers to non-billable HRIS tasks.
Benefits and results.
Human capital management.
Collaborative delivered HR features and functionality enabling the formulation, standardization, and automation of business processes globally. This supports Collaborative’s commitment to the candidate, new hire, and employee experience, along with the upskilling of HR teams that have realized significantly fewer administrative tasks.
Improved employee turnover, saving $351K annually
Onboarding time reduced by 67%
Project and financial management.
Collaborative streamlined time tracking, invoicing, and billing processes. Improvements include shorter cycles for time entry, approvals, and invoice creation, and fewer billing inaccuracies. Collaborative has largely automated the close process, realizing a 20-hour reduction in time to perform monthly consolidation.
Time entry and approval time went from 7 to 3 days
Billing inaccuracies reduced by 10%
Project and financial insight.
A rich, multidimensional data set on a single technology platform equips managers with real-time visibility into P&L spend via budget versus actual reports. Access to exception reports that flag potential billable spend provide Collaborative with insight needed to pursue company-wide goals around billable and non-billable spend.
P&L visibility boosted forecast accuracy by 10%
T&E spend reduced by 4%
Organizational agility.
Collaborative now has the tools to manage growth. The data set and one source of truth in Workday, plus the Workday Community portal and GMS tenant, enable Collaborative to manage compliance risk alongside its global expansion. Key improvements pertain to VETS/EEOC reporting, GDPR, and other local regulatory requirements.
If we didn’t have Workday, it would have taken us two to three times longer to make sure we are GDPR compliant. It would have also cost more for legal counsel.
Director, People Services Operations