Insurance broker and professional services company, Aon, plans to unify its financial and HR management systems globally with the upgrade of its Workday footprint to include Workday Financial Management
Risk and insurance brokerage firm AON has deployed Workday’s cloud-based financial management solution to over 70,000 employees worldwide, including 500+ risk management professionals in Hong Kong.
Aon’s deployment of Workday Financial Management adds to its earlier adoption of Workday Human Capital Management, a cloud-based human resources management suite.
Headquartered in London, Aon provides risk and insurance brokerage and employee benefits consultancy services. To optimize its financial and people resources of over 70,000 employees spanning across 120 countries, Aon has expanded its Workday deployment. This is expected to help establish a single financial and HR system to unify the organization and to drive global growth.
Controlling financial performance
With Workday’s unified suite of applications, Aon expects to:
1) Utilize built-in reporting and analytics to equip organizational leaders with real-time, actionable insights;
2) Increase financial data transparency and relevancy with one unified financial application for all accounting and reporting needs across business units and global offices. Using Worktags, Aon will also be able to easily analyze, drill down into, and report on data using dimensions such as a region, department, or customer, and take action to better drive results.
3) Realize efficiencies and improve productivity by reducing time spent on manual processes such as extracting and consolidating data for spreadsheet calculations; and
4) Further empower its mobile workforce worldwide to access information and take actions.
“To deliver the best services and solutions to our clients globally, it’s important to have a technology foundation that unifies our people and costs so we can gain the insights we need across our business,” said Laurel Meissner, senior vice president and global controller, Aon.
“Overseeing accounting, financial reporting, and compliance for a large global organization requires a comprehensive understanding of our day-to-day financial performance. Workday will enable us to have more control over financial performance, with timely insights into the current state of the business and continuous innovation to help ensure we are always up-to-date with new standards and regulations for each region in which we operate.”
Workday services partner
In order to deploy Workday Financial Management globally, Aon will leverage the expertise of its Cloud Solutions unit within one of its business arms Aon Hewitt, which specializes in the provision of HR consulting and outsourcing solutions.
“By deploying Workday Financial Management across our organization, we will experience these benefits first-hand, helping us strengthen our capabilities and expertise in providing our clients with a full spectrum of services – from advisory, to deployment, and ongoing support — across all Workday products,” said Jonathan Schembor, president of Cloud Solutions, Aon Hewitt.
Being a Workday Services Partner, Aon has helped over 200 clients deploy and support Workday.
Driving insights from financial, people, and operational data
Coupled with its recent deployment of Workday Human Capital Management, Aon’s selection of Workday Financial Management has made Aon one of the largest organizations to use Workday’s unified suite of applications, according to Workday.
“As one of the world’s largest and most successful insurance brokers and professional services firms, Aon’s selection of Workday Financial Management underscores that global business leaders continue to look for a cloud-first, data-driven approach to real-time finance as a way to gain and maintain a competitive edge,” said Aneel Bhusri, co-founder and CEO, Workday.