Regional bank modernizes finance for growth
$16 billion
A regional bank with $16 billion in assets needed to modernize its finance function
Four
Four legacy data dimensions expanded for enhanced reporting
Seven
Seven months to complete the full Workday implementation
At a glance
Client
Regional bank
Industry
Banking
Our role
Lead technology selection, transformation oversight
Our solution
Modern cloud platform enabling scalable growth
Modern finance platform supports acquisition growth
Scenario
A $16 billion regional bank wanted to remove infrastructure limits on growth and reporting agility.
Approach
Grant Thornton led partner selection and implementation governance for a cloud-based finance and HR transformation.
Result
In seven months, the bank modernized finance, strengthened controls and resumed acquisition activity.
Scenario
Preparing for growth and insight
A $16 billion regional bank had an acquisition strategy that required it to integrate new entities quickly and produce timely, reliable reporting. To meet this requirement and keep pace with market demands and regulatory expectations, it needed to modernize its infrastructure and general ledger.
The bank had multiple bolt-on accounting and finance systems that required manual intervention to generate reports and move data into the general ledger of record. Its legacy ledger supported only four data dimensions, limiting business intelligence and management insight. The bank wanted to mature its technology, governance and processes to ensure it could meet regulatory expectations and continue the acquisitions that were the cornerstone of its growth strategy.
Approach
A strategic partner and scalable platform
Grant Thornton helped the bank identify not just a software vendor, but a strategic technology partner aligned to the bank’s long-term growth ambitions. While many platforms offered similar functionality, the bank needed a provider invested in deepening capabilities for the financial services sector. Workday emerged as the right fit — delivering a secure, hosted platform capable of replacing multiple bolt-on systems across accounting and human resources.
Grant Thornton established a program management office to oversee the implementation and related enablement initiatives, including a full redesign of the bank’s procure-to-pay process. Functional SMEs supported end-to-end testing, change management, cutover and hypercare support planning. Automation replaced manual processes, strengthening internal controls and improving the integrity and accuracy of data used for key management reporting.
“The finance platform modernization needed to give the bank a data foundation for growth, with the confidence,” said Grant Thornton Technology Modernization Manager Stuart Reeves.
Result
Finance foundation ready for acquisition
The team completed the full implementation in seven months, positioning the bank to resume acquisition activity with regulatory confidence. A redesigned chart of accounts enabled a leaner general ledger structure with expanded data dimensions, delivering more flexible and insightful reporting.
Manually intensive spreadsheets were eliminated, reducing risk and improving efficiency. Automated workflows enhanced data quality and strengthened governance. Associates gained new self-service capabilities, improving the day-to-day experience across finance and HR.
With a modern finance platform in place, the bank can now sense and respond to market changes more quickly — supporting disciplined growth while meeting evolving regulatory expectations.
Connect with our team
Dallas, Texas
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This Grant Thornton Advisors LLC content provides information and comments on current issues and developments. It is not a comprehensive analysis of the subject matter covered. It is not, and should not be construed as, accounting, legal, tax, or professional advice provided by Grant Thornton Advisors LLC. All relevant facts and circumstances, including the pertinent authoritative literature, need to be considered to arrive at conclusions that comply with matters addressed in this content.
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