Accenture plc [NYSE: ACN] disclosed that it has started a partnership with Tokio Marine Kiln (TMK). TMK has earned a reputation as a prominent international insurer. Through this partnership, Accenture will help TMK to revolutionize its finance and human resources (HR) functions in the U.K. and Singapore by digitizing and integrating multiple systems onto Workday [NASDAQ: WDAY].
TMK is bringing an intriguing strategy of system and process change to offer a new target operating model, of which Workday is a key aspect. TMK has chosen Accenture to guarantee strong delivery across its London and Singapore offices, at the same time drawing on Accenture’s London market experience.
Furthermore, TMK’s HR, payroll, finance, and procurement functions were divided across multiple systems, with heavy dependence on manual input. TMK’s employees now have the chance to execute, record, and track transactions and business processes with greater speed, accuracy, and comfort with Workday Financial Management and Workday Human Capital Management (HCM). It will save them to spend more time on business-critical functions.
In addition, Workday was implemented virtually in just seven months across four functions. Accenture, Workday, and TMK centered around digitizing key tasks such as HR activities including the management of the full employee lifecycle. It also includes end-to-end finance processes including purchasing, supplier accounts and pacts, customer accounts and billing, banking, payment and cash settlement, business assets, accounting, and financial reporting.