Finance Management ERP Discovery and Transformation | Take the Quiz!

Traditional enterprise resource planning (ERP) systems are hampered by inherent limitations. This is also true for many cloud-based ERP systems based on legacy technology frameworks.

For many companies, the transition to the cloud was supercharged by the pandemic. The digitization of systems, including ERP systems, became essential to running operations remotely and adapting business models to this new business landscape.

However, the limitations of ERP systems—on-site or in the cloud—became obvious. From inflexible processes to fragmented data and more, ERP solutions that were once hallmarks of core business systems revealed that they lack the agility to navigate change and bolster innovation in an evolving marketplace.

The objective of this survey is to learn how companies are modernizing their ERP systems of record so that they can drive effective changes in their organization.

Take the Finance Management ERP Discovery and Transformation Quiz now to help you achieve your ERP modernization goals, and we’ll send you a complimentary Yeti mug (valued at $23.99)!

1. When considering your organization’s finance management ERP discovery and transformation process, what’s top of mind?

Easily gaining business insights from our data Implementing a new ERP system that maximizes our ROI Improving core processes for our financial and human resource allocation with a single system Increasing our agility with a composable finance technology strategy

2. What is prompting your organization to rethink its current ERP system environment?

We are being held back by complex, siloed technologies We can’t display metrics and data insights in one meaningful and intuitive dashboard Our goals have been hampered by a lack of business process flexibility We lack accountability and alignment across our finance organization

3. What is a key operational challenge with your current finance management ERP system?

We are unable to standardize our finance processes We can’t efficiently leverage data to make real-time decisions We can’t readily measure customer lifetime value We can’t accurately align our financial and human resources with our strategy and goals

4. What’s the most significant benefit that you wish you could realize with a cloud-based ERP platform?

A single system that supports continuous planning and more robust scenario planning A single system that empowers us to pivot and adapt quickly to market changes A single system that enables us to deliver advanced insight-based analytics A single system that can be customized to fit our business-specific processes

5. Would you like to have more control over your ownership costs with your ERP system?

It’s not as important as the ability to provide our leadership with advanced data analytics and insights It’s very important—we want a cloud-based subscription fee model with regular monthly costs It’s very important—we want to reduce our current ERP maintenance costs It’s not as important as removing friction from our business processes

6. As you consider moving to a cloud-based ERP financial management platform, what is a significant business need for your organization?

Creating reports faster using financial reporting and analytics Ensuring our technology portfolio is modular, flexible, and adaptive Linking strategic business objectives to measurable business KPIs within our ERP system environment Having current, accurate information for continuous analysis, planning, and execution

7. When evaluating a cloud ERP or a cloud-based application, which of the following is a desired business outcome?

An adaptable data architecture that can transform structured and unstructured data into relevant insights that drive performance A flexible platform that enables us to pivot and adapt quickly to dynamic business needs and conditions Achieving a faster deployment and shorter time to value Finance technology that drives greater business agility and cost optimization

8. What are the likely consequences for your organization if you maintain the status quo? We won’t be able to:

Surface important data insights to different business stakeholders Achieve automated back-office processing Support new business or service models Allocate human and finance resources quickly and intelligently

9. What would you most appreciate in an ERP solutions provider? One who can:

Be a transformation partner as we create our roadmap to becoming a data-driven enterprise Adapt, innovate, and scale our finance technology with a flexible platform Accelerate our digital transformation to help us gain business agility Improve our internal business processes

10. Which topics would you like to learn more about from a Workday representative?

How to use data to navigate market uncertainty and find untapped opportunities How to gain deeper insights, improve efficiency, and enhance the employee experience How to plan, execute, and analyze financial and human resources data in one frictionless capital management system How to transform our technology to be modular, flexible, and adaptive to changing business needs