Home News Accenture Helps Tokio Marine Kiln Transform Its Finance and HR Functions in the Cloud with Workday

Accenture Helps Tokio Marine Kiln Transform Its Finance and HR Functions in the Cloud with Workday

Accenture Helps Tokio Marine Kiln Transform Its Finance and HR Functions in the Cloud with Workday

Accenture (NYSE: ACN) has collaborated with Tokio Marine Kiln (TMK), a leading international insurer, to transform its finance and human resources (HR) functions in the U.K. and Singapore by digitizing and consolidating multiple systems onto Workday (NASDAQ: WDAY).

Previously, TMK’s HR, payroll, finance and procurement functions were split across multiple systems, with heavy reliance on manual input. With Workday Financial Management and Workday Human Capital Management (HCM), TMK’s employees are now able to complete, record, and track transactions and business processes with greater speed, accuracy and ease, freeing them up to spend more time on business-critical functions.

Workday was deployed virtually in just seven months across four functions. Accenture, Workday, and TMK focused on digitizing key tasks such as:

  • HR activities including the management of the full employee lifecycle: onboarding, compensation, learning, absence and payroll.
  • End-to-end finance processes including procurement, supplier accounts and contracts, customer accounts and billing, banking, settlement and cash reconciliation, business assets, accounting and financial reporting.

“TMK is driving an exciting strategy of system and process change to deliver a new target operating model, of which Workday is a key element,” said Nick Hutton-Penman, TMK’s deputy CEO. “TMK selected Accenture to ensure strong delivery across our London and Singapore offices, whilst drawing on Accenture’s London market experience.”

Jamie Althorp, Insurance lead for Accenture in the U.K. and Ireland, said: “It’s more important than ever for key players in the insurance sector to embrace change and accelerate the cloud-first transformation of legacy technology to support business-critical functions. We are pleased to have collaborated with TMK on this critical journey to transform its finance and HR functions with Workday, creating new operational efficiencies whilst empowering their people with technology, and we look forward to building on this relationship.”

Carolyn Horne, president, EMEA, Workday, said: “Forward-thinking companies like Tokio Marine Kiln recognize that resilience and innovation don’t have to be a trade-off. Workday is a proven investment in building a culture of agility, data-driven decision-making, and automation that’s vital now and into the future. To deploy virtually with Workday Financial Management and Workday Human Capital Management in just seven months is testament to the flexibility of the Workday system, and the great partnership we have with Accenture.”

Eskalera, a Startup Led by Goldman Sachs’ Former HR Head Has Launched a Diversity and Inclusion Index

Eskalera, a technology startup led by Goldman Sachs former human resources head Dane Holmes, has launched an index to measure corporate diversity and inclusiveness,...

HSBC to Remove 35,000 Jobs Amidst Covid-19 Crises

HSBC Holdings Plc has restarted cutting as many as 35,000 jobs, three months after the coronavirus outbreak forced it to pause a long-awaited overhaul...

Genpact Offers Its Internal Skill Training Program Globally for Everyone

Genpact has announced Adapt and Rise, a role-based online learning platform that leverages Genpact's expertise honed from delivering real-world change for hundreds of clients....

San-Francisco Based Learning Platform Degreed Has Raised $32 Million in New Funding

The upskilling platform, Degreed, has announced $32 million in new funding in direct response to overwhelming demand for better skill insights, talent mobility, and...

Research Shows the Implications of Workplace Layouts on Employee Productivity and Overall Performance

As some workplaces prepare for the gradual return of employees and overhaul office layouts and seating plans, research has shown this could also have...

Employee Concierge ‘Back Technologies’ Integrates Automation Into Internal HR and Other Support Tasks

Companies are under increasing pressure to automate workflows and digitally service their employees, particularly in light of trends toward remote work. It takes an...

HR Strategies to Help Your Business Navigate the New ‘Normal’

No business is immune to the massive changes resulting from the health crisis. Organizations have proven themselves to be agile, and employees have demonstrated...

The Importance Of Diversity And Inclusion In HR, Hiring, Talent Management: Thoughts From A Top Expert

Michael C. Hyter is one of today’s best-known experts on inclusion and diversity and the author of The Power of Choice: Embracing Efficacy to Drive Your Career and The...

HR Expert Highlights Actionable Steps to ‘Make Real Change’ Against Racism in Your Workplace

Kyra Leigh Sutton, Ph.D., is a faculty member at the Rutgers University School of Management and Labor Relations, where she teaches human resources courses...

Adidas Employees Want Company to Investigate HR Chief for Response to Racial Issues

A group of Adidas employees from around the globe is asking the company to investigate its chief human resources officer, as part of a...