Take the Data-Driven Transformation Quiz!

Banks and financial institutions have weathered the storm of the pandemic, but they now must focus on modernizing outdated processes if they want to accelerate their journeys toward becoming digital enterprises. Insurance companies have also survived but are facing significant operational challenges due to both the pandemic and a rise in natural disasters. Both financial institutions and insurance organizations feel the effects of the current unfavorable economic conditions driven by high interest rates and the economic downturn.

Financial institutions and insurance organizations need to meet these challenges by updating their technology infrastructure through the cloud and investing in advanced analytics.

Take the Data-Driven Transformation Quiz to establish what kind of buyer you are, and we’ll instantly deliver the most helpful content so that you can achieve your goals.

1. When considering your organization’s data-driven transformation, what’s top of mind?

Increasingly moving our operational and financial data to the cloud so it can contribute to our business value Investing in a cloud-based enterprise management system so we can create a trusted data foundation Fast-tracking our digital transformation so we can better use data to achieve our financial objectives

2. What is a leading internal business pressure facing your organization during this time of economic uncertainty?

Making data highly accessible in our firm Establishing a trusted data foundation Accelerating our journey to becoming a digital enterprise

3. What is a key operational challenge facing your organization?

Legacy systems and resistance to change are slowing our firm’s move to the cloud The proliferation of data, functional silos, and complex technology prevents our finance team from efficiently using data We struggle to turn data into action due to lengthy manual processes and a lack of integration and automation

4. What investment will provide your organization with a solid competitive advantage by improving your data-driven transformation?

A SaaS platform that supports our data-driven transformation A cloud-based enterprise management system that empowers us to make informed business decisions Cloud-based enterprise performance management, ERP, and planning and budget solutions that enable us to make decisions quickly

5. How important is it for you to become a modern data-driven enterprise?

It’s important and the executive suite is building their data literacy It’s important and we want to invest in the data and analytics capabilities that will drive innovation It’s important and we need to establish a trusted foundation for our data

6. As you look to move to the cloud, what is a significant functional need for your organization?

Adding data and AI literacy programs for our employees Providing employees with comprehensive reporting and analytics tools Overcoming the lack of alignment between department forecasts and our overall business strategy

7. What are the likely consequences for your business if you maintain the status quo?

Our firm won’t ever have a single source of data to assess risk, make strategic decisions, or quickly respond to change Our firm won’t be able to effectively unlock insights from our data, assess financial impact, and drive business strategy Our firm won’t be able to improve our operating margins or revenue growth

8. When it comes to managing your data-driven transformation, which of the following is a concern?

Ensuring our firm creates dedicated data and analytics goals tied to organizational performance Ensuring our leadership will keep investing in the needed resources Ensuring we establish an intelligent data foundation to consolidate data from multiple entities quickly

9. What would you most appreciate in a solutions provider?

A provider who will partner with us to become a data-driven digital enterprise A provider who can support our transition to a cloud-based enterprise management system and innovate with us on future solution needs A provider who understands our industry and can provide us with a framework for our digital acceleration

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

How the cloud can improve access to and strategic use of our firm’s finance and operational data How banks can make empowered business decisions through reimagined technology investments How banks, financial institutions, and insurance firms can accelerate their journey to becoming a digital enterprise