Taking Control of Corporate SpendUsing Technology to Gain Value in Spend Management

Feb 28, 2017

Workday Confidential

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Introductions

Workday Confidential

Lauren PukaczDirector, Strategic

Procurement New York Public Library

Rob KugelSVP & Research Director

Ventana Research

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Agenda

► Ventana Research Perspective on Spend Management

► Workday Customer Success: New York Public Library

► Q&A

Taking Control of Corporate Spend

Using Technology to Gain Value in Spend Management

@ventanaresearch In/ventanaresearch

Robert D. Kugel CFA

Senior Vice President – Research DirectorFebruary 2017

@rdkugelVRblog.ventanaresearch.com

What is Spend Management?

Travel & Entertainment

Indirect Purchasing

The Importance of Spend ManagementMore effective spend management promotes a more strategic finance department.

• Greater control • Better visibility• Lower administrative effort

• Easier policy compliance

It’s Not EasyManaging T&E and indirect purchasing can be difficult.

• Managers need timely insight into the details of every expense transaction.

• It should be easy for employees to comply with travel and indirect spend policies.

• Spend-related processes must be handled efficiently.

Streamline Expense Management

• Go beyond simple automation• Increase visibility and control• Make information actionable

The Need for Timely Spend Information• A majority in finance departments say their reports are accurate.

• Only 31% say they are timely.

Visibility

A single system for spend management with financials and HR improves visibility with up-to-date information.

Say Goodbye to that Fat Wallet

Rationalize Purchasing and ProcurementAutomating the indirect procurement process can help:

• Facilitate employee compliance

• Reduce wasteful spending• Provide more accurate

data• Improve productivity

The Power of OneThe value of a single system:• Consistency in accounting• Enhanced control• Streamlined data flows• Increased visibility• Better user experience

The Value of Cloud•Cloud-based systems are easier to access and use by those who work remotely or travel.

•They also free organizations from capital expenditures and can reduce ongoing costs associated with system maintenance.

Better Administration

• Improve administration and control of corporate spend.

• Achieve greater visibility and accuracy of information.

• Assess the value of a single system

• Consider the cloud.

Lauren PukaczDirector, Strategic Procurement

NYPL

2.5kEmployees

HCM Go-Live 2012

FIN Go-Live2014

92Locations in NY

Prior to Workday

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100% paper-based processes for requisitions, purchase orders and

approvals

NYPL was using PeopleSoft HCM, Benefits, Payroll and Financials for 14+

years

Lacked visibility into key finance metrics to empower decision-making

Difficulty streamlining business processes and enforcing control

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Unified PURE Cloud ReportingWorkday Products

Unified Modern Architecture

Mobile

Why Workday

Human CapitalManagement

PayrollFinancialManagement

Procurement Expenses Benefits Grants

Transparency

Financials Implementation Timeline

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Change Management

Updates & New FeaturesTraining Support

Financials Implementation (Cont.)

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• Workday Support Structure‒ Workday Steering Committee‒ HCM and Financials Product Owners‒ Update Testing Process in Place‒ IT Support - centralized security, integrations, reports‒ ServiceNOW Ticket System ‒ WD Community

• Security, New Features, Enhancements

• Updates – implemented automated testing

• Ensure more knowledge transfer prior to go-live

Lessons Learned

Value Realized

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Control over operational spending

Ability to identify areas for potential cost savings

Decreased spend on P-cards and corporate cards

Faster reimbursements

One stop shopping for end users

Quicker turnaround for purchases

Efficient asset tracking

Big Wins with Workday Expenses & Procurement

One Integrated System

Single Source of Data

TM

Q&A