How Smart safeguards and accelerates mergers & acquisitions with Workday
Mergers and Acquisitions (M&As) can be a challenging and stressful time for organisations. When Workday is at the centre of the process, it’s essential to safeguard and ensure functional continuity of the system. If signing the deal is the easy step in an M&A, the complexity lies in attempting to successfully integrate organisations within Workday to realise value.
Here, our experts outline the steps your business can take to overcome common challenges that Workday customers may face during a merger or acquisition—as well as advise on how to ensure a secure, smooth, and compliant transition with Kainos Smart.
Understanding potential Workday challenges during an M&A
With so many challenges to consider when approaching an M&A, it can be easy to run into problems that can lead to increased risk, costs, and a lower chance of a successful transition.
Challenge 1: Consolidating data from different systems within Workday
One of the biggest challenges during a merger and acquisition is integrating data from the company you’re acquiring and ensuring that the data is transferred accurately and securely into Workday. Migrating data such as payroll, human resources and financial information can be complex and time-consuming.
Kainos Smart solutions help to accelerate the Workday data integration process, simplify data-sharing and reduce the risk of errors or downtime while consolidating data. Smart automation ensures existing functionalities of Workday continue to operate correctly after any changes are made during the M&A process.
Challenge 2: Standardising Workday processes and procedures
During M&As, there can be significant changes that occur to your organisation’s structure, policies and procedures and it is essential to manage these changes carefully to ensure that employees understand the new ways of working and that Workday is aligned to these changes.
Ensure Workday meets your business needs and functions effectively for users across your organisation with Smart. Smart Test helps to improve the quality of the Workday experience by identifying and addressing issues early in the testing process. This allows you to minimise any potential disruptions in Workday which could cause downtime and affect the success of M&As.
Challenge 3: Managing potential Workday inefficiencies in the M&A process
Resource constraints are a key concern for organisations during merger and acquisitions and this can impact the support and maintenance of Workday, which may result in performance issues.
Smart Test helps you focus on other aspects of the M&A process by streamlining the Workday testing process, saving your business time and costs by reducing manual effort. With Smart Audit, you can accelerate the due diligence process during M&As and gain greater visibility, accuracy and efficiency in the auditing process and have confidence that security settings are functioning as expected.
Challenge 4: Reducing risk in Workday during M&As
During a merger or acquisition, there may be changes to Workday's security configuration which could cause potential breaches resulting in financial loss, reputational damage or legal action. Therefore, managing risk is imperative during M&As to ensure a compliant Workday integration process.
Smart helps identify potential issues before they become critical problems. Smart Shield masks sensitive data to protect your organisation from potential exposure and compliance risks, while Smart Test reduces the risk of human error and ensures that all aspects of Workday are thoroughly tested.
Challenge 5: Addressing regulatory compliance with Workday
Organisations may face compliance issues when merging or acquiring a company that operates in a different regulatory environment. It is essential that Workday adheres to all applicable laws and regulations in order to remain compliant.
Smart Audit and Smart Shield help you quickly identify, manage and mitigate risks related to acquisitions, allowing you to verify compliance with regulatory requirements and internal policies, such as financial reporting standards, tax regulations and data security protocols. With Smart Shield, you can feel confident knowing your data is protected during the M&A process and ensure your organisation remains compliant with regulations such as GDPR, SOX, ICFR, CCPA, NIST, FDICI and ISO.
Download Fact Sheet
Download this fact sheet to learn how Kainos Smart for Workday can safeguard and accelerate mergers and acquisitions.
Download Fact Sheet
