TechValidate Research on Collaborative Solutions

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256 Customers Surveyed

1,552 Data Points Collected

19 Published TechFacts

2 Published Charts

2 Published Case Studies



Selected Research Highlights


A Collaborative Solutions Case Study

Centerstone

Key Accomplishments

With Collaborative Solutions, Centerstone deployed Workday Financial Management and Workday Human Capital Management within 8 months, successfully merging three disparate systems into one, unified system and streamlining business processes across the organization. As a result, Centerstone shortened its month-end close process by 1-2 days.

Challenges

Centerstone is a not-for-profit health care organization dedicated to delivering care that changes people’s lives. Centerstone provides mental health care, addiction treatment, and community education in Florida, Illinois, Indiana, Kentucky, and Tennessee.

Centerstone needed to transform its Finance and HR operations by consolidating three disparate payroll systems and streamline business processes that differed across the five states it serves. Before partnering with Collaborative Solutions, Centerstone was struggling with:

  • A lengthy monthly close process
  • Inefficient manual processes;
  • Siloed financial data; and
  • Lack of visibility into Key Performance Indicators.

Ultimately, Centerstone chose Workday Financial Management and Workday Human Capital Management including, Benefits, Recruiting, Absence, Time Tracking, and Payroll.

Considerations for Selecting a Deployment Partner

Collaborative Solutions and Centerstone developed a great partnership throughout this project. This partnership was key in completing a successful deployment. Centerstone selected Collaborative Solutions as its deployment partner due to their;

  • deep Workday Financial Management experience and
  • focus on true business transformation instead of a simple “lift-and-shift.”

Additionally, Centerstone leveraged Collaborative’s Foundation Data Model Readiness Workshop to provide guidance on the best deployment methodology to ensure the organization achieved its key project goals.

Deployment Results

The Collaborative Solutions’ Foundation Data Model Readiness Workshop helped Centerstone design a clear framework to guide its Workday configuration, increase their understanding of the power and flexibility of Workday Financial Management, and provide a practical illustration of worktags and reporting in Workday.

The Collaborative team worked closely with Centerstone to design, build, and test all business processes. The Collaborative team spent numerous days onsite in Nashville leading design sessions, supporting conformation sessions, and testing.
With Collaborative Solutions’ expert guidance and deployment methodology, Centerstone shortened its month-end close process by 1-2 days and was able to:

  • Reduce manual processes;
  • Streamline business processes and improve efficiency;
  • Improve visibility with flexible reporting functionality;
  • Reduce the complexity of their accounting structure;
  • Consolidate disparate systems; and
  • Improve the user experience.

Collaborative Solutions Customer Research

Collaborative vs Competitors

Why did you choose Collaborative Solutions over other partners?

They have deep Workday Financial Management experience
56%
They understood our unique business challenges
45%
They focus on true business transformation instead of a simple “lift-and-shift”
40%
Their services were a great value for the cost
29%
Their deployment methodology contained tools and accelerators to increase speed-to-value
24%
They have the most Workday Financial Management certified consultants in the industry
13%
They offered a valuable Mock Foundation Data Model Workshop that helped us visualize our future state and understand the benefits of Workday Financial Management
9%

A Collaborative Solutions Case Study

Virtus Investment Partners

Key Accomplishments

With Collaborative Solutions, Virtus Investment partners achieved ROI within six months. Collaborative Solutions consolidated the company’s siloed financial data, increased visibility into KPIs, and reduced its month-end close by 1-2 days.

“Collaborative Solutions helped us achieve our goals for more efficient financial operations and close process. During design, they helped us incorporate best practices and challenged the way we thought.” – Nicole Stephenson, AVP, Financial Operations.

Challenges

Virtus Investment Partners, a premier investment solutions firm, had outgrown its dated Financial Management system. A recent acquisition encouraged the investment company to deploy a scalable, cloud-based solution that would meet its operational needs and scale to keep pace with the growing business. Before partnering with Collaborative Solutions, Virtus Investments was struggling with:

  • A lengthy monthly close process;
  • Inefficient manual processes;
  • Siloed financial data; and
  • Lack of visibility into Key Performance Indicators.

Ultimately, Virtus chose Workday for its new Financial Management Platform.

Considerations for Selecting a Deployment Partner

In selecting a consultancy to deploy Workday, Virtus was looking for a true partner that would help the organization visualize its future state and understand the benefits of Workday Financial Management. Virtus selected Collaborative Solutions as its deployment partner due to Collaborative Solutions’:

  • Deep Workday Financial Management experience;
  • Above-average number of Workday Financial Management certified consultants; and
  • Deployment methodology with tools and accelerators for maximum speed-to-value.

Additionally, Virtus chose Collaborative Solutions based on its experience with the firm’s Foundation Data Model Readiness Workshop to help define the structure of its Workday environment for security, business processes, reporting, and transactional data entry.

Deployment Results

The Collaborative Solutions’ Foundation Data Model Readiness Workshop helped Virtus design a clear framework to guide its Workday configuration, increase executive alignment, and demonstrate how Workday Financial Management would work to accommodate the organization’s unique business needs.

With Collaborative Solutions’ expert guidance and deployment methodology, Virtus achieved return on its Workday investment within six months and was able to:

  • Reduce manual processes;
  • Consolidate disparate systems;
  • Streamline business processes and improve efficiency;
  • Empower the Virtus team with the knowledge and tools needed to be self-sufficient at go-live;
  • Improve visibility with flexible reporting functionality; and
  • Reduce month-end close by 1-2 days.

Collaborative Solutions Customer Research

Finance Department Challenges

What challenges were you experiencing prior to partnering with Collaborative Solutions?

Lengthy monthly close
20%
Lack of visibility into Key Performance Indicators (KPIs)
26%
Siloed Financial data
38%
Limited reporting capabilities
64%
Inefficient manual processes
79%

Collaborative Solutions Customer Testimonial

Collaborative Solutions is a thoughtful partner that delivered robust implementation support. We were particularly impressed by the support of senior leadership and Collaborative’s transformative impact on the project.

Zay Collier, Vice President, Technology, TNTP

Collaborative Solutions Customer Testimonial

Collaborative Solutions was integral to the success of our Financial Management implementation. We were able to go live on time and under budget.

Sherri Banks, IT Manager, Buncombe County



More to Explore



About Collaborative Solutions

Collaborative Solutions is a full service Finance and HR transformation consultancy boasting 100% deployment success and a 98% customer satisfaction rate.

Collaborative Solutions Website   Collaborative Solutions Website