Challenges.
Denny’s recognised a need to modernise their finance and HR systems to deliver business agility. They then launched a digital transformation and phased deployment of Workday enterprise cloud applications to support their business strategy and goals, including a vigorous refranchising programme.
Results.
Since deployment, Denny’s has used Workday across the business to deliver more efficient and effective services. Significantly improved functional capabilities have generated both strategic and business benefits.
Benefits and results.
A new data model for faster reports.
Denny’s deployed a restructured data model that supports reporting and generates accounting automatically. Finance and business users are more efficient and can make faster decisions with fewer manual journals, quicker invoice processing, rapid reconciliation and performance closures, and simpler financial and management reporting.
50%
reduction in manual journal entries
40%
reduction in questions for AP
Increased visibility into franchise billing.
To make the billing in their highly franchised model more efficient and transparent, Denny’s deployed a dynamic franchise billing process. This included implementing customer contracts, dated billing, and revenue recognition schedules. Additionally, they configured revenue categories for fees and royalties as well as spend categories for passthrough costs to automatically produce detailed weekly invoices.
95%
billing accuracy increased to 99% accuracy
$60K
annual cost reduction
Relieving project management headaches.
Denny’s uses project worktags to enable real-time expense reporting for individual marketing and capital projects. They imported an annual plan for reporting and budgetary controls, providing project managers with direct access to budget versus actuals. This lets them streamline their approval structure for marketing projects and eliminate steps in their reimbursement process.
4-day
reduction in time for accurate franchisee invoicing
Self-service audits.
Denny’s provides auditors with self-service access to an enterprise system that enables faster access to complete audit trails reducing extensive audit testing.
135%
improvement in the number of automated SOX controls