Financial services firm empowers its core ledger
30%
30% reduction in manual journal entries after implementation
25%
25% faster month-end close cycle in the first reporting period
100%
100% integration of core banking and third-party financial systems
At a glance
Client
Financial services firm
Industry
Banking
Our role
Co-implement Workday financials
Our solution
Cloud ledger for better accuracy
Cloud financials improve speed and accuracy
Scenario
A financial services firm relied on a legacy general ledger that limited reporting, integration and efficiency.
Approach
Grant Thornton co-implemented Workday Financials, redesigning processes and integrating core banking systems.
Result
The client improved reporting accuracy, accelerated close and reduced manual effort.
Scenario
A ledger to improve performance
A leading provider of premium financing needed to update its general ledger system. The organization’s evolving needs were outpacing its legacy system, and leaders wanted to improve its ability to connect with modern banking platforms and financial tools.
The firm also wanted to reduce the risk of reporting errors and accelerate its month-end close. It needed financial data with real-time visibility to help leaders make timely, informed decisions. To support continued growth and regulatory expectations, the finance team needed a scalable, cloud-based general ledger that could streamline processes and improve data reliability.
Approach
A collaborative path to modern financials
Grant Thornton partnered with Workday Professional Services to co-implement Workday Core Financials. The team began with a detailed assessment of the client’s financial processes, identifying inefficiencies and opportunities to align with leading practices.
Grant Thornton designed and configured a tailored Workday Financials solution, enabling integrations with third-party financial and banking systems. The team converted historical financial and organizational data into Workday, managed unit and end-to-end testing and supported production readiness.
Throughout the project, Grant Thornton worked alongside the client to drive adoption and ensure stability, providing hands-on support through the first month-end close to help establish confidence in the new system.
Result
Stronger reporting and faster decisions
With Workday in place, the organization transformed its financial operations. Automated workflows reduced manual journal entries and strengthened internal controls. Integrated systems improved the accuracy and reliability of financial reporting, giving leadership clearer visibility into performance.
The month-end close accelerated, freeing finance teams to focus on analysis and strategic initiatives rather than reconciliation tasks. Improved integration with third-party banking and financial platforms enhanced operational efficiency and reduced risk associated with fragmented systems.
“Modernizing the general ledger gives finance teams real-time visibility, stronger controls and a scalable foundation for growth,” said Grant Thornton Technology Modernization Manager Stuart Reeves. “By aligning process design with Workday’s capabilities, we helped the organization improve efficiency while building confidence in its financial data.”
The successful implementation positioned the organization with a scalable foundation for future growth, supported by ongoing advisory services to ensure continued optimization and stability.
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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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