ENMAX was challenged by a disjointed network of systems that required significant support. Its back-office finance system was outdated. And, in addition to the risks of using an unsupported legacy system, controller teams were burdened by manual business processes and unpredictable access to financial insights.
ENMAX needed a consolidated, flexible solution that offered scalability, improved efficiencies, and an effective cloud-based financial application that allowed comprehensive insights into the company and its people.
Benefits and results.
With Workday, ENMAX was able to deliver a cloud-based financial management application to strengthen security, compliance, and controls, while eliminating the need for server maintenance. Finance IS/IT shifted their focus from “keeping the lights on” to continuous innovation. Further, ENMAX enabled web services to improve data processing times and accuracy.
Increased strategic work by 30%
Improved cybersecurity management
ENMAX realized better process efficiency and effectiveness, and optimized labor costs by redirecting valuable time. Key improvements include a reduction in time to close, run cost allocations and consolidation, and prepare bank reconciliations. ENMAX standardized core processes across controller teams and reduced the risk of error through automation.
Cost allocation run time reduced from 9 hours to minutes
Quarterly close time reduced by 33%
ENMAX standardized and automated the employee expense submission and approval cycle and enabled mobile access for remote workers. Always-on audit, direct access to granular employee expense data, and a central repository for supporting documentation contribute to improved response times for internal and external queries.
Employee expense cycle time reduced from months to 7 days
Mobile adoption of 85%
ENMAX equipped end users with drill-down capabilities to source data and redesigned the financial data model to deliver key insights. ENMAX streamlined the chart of accounts and added several reporting dimensions to improve operational reporting.
Reduced ledger accounts from 1,500 to 308
Created 14 new reporting dimensions