New Finance-As-A-Service Solution Helps Companies Rapidly Scale and Manage Operations for Competitive Growth
Genpact, a global professional services firm focused on delivering digital transformation, in partnership with Deloitte, a leader in audit, consulting, tax, and advisory services to many of the world’s most admired brands, and OneSource Virtual, a leading provider of business process services and automated solutions for Workday, launched GenOne, a finance-as-a-service (FaaS) solution that reimagines finance operations and helps companies enhance competitive growth.
GenOne, the first FaaS solution built around Workday Financial Management, provides a flexible business model allowing companies to scale and manage their finance operations. Workday and GenOne’s focused offering helps CFOs and their teams increase agility, manage capital and finance planning more strategically, and work more effectively with internal business partners. Workday Financial Management unifies a full range of accounting capabilities to provide organizations with real-time business insights, and levels of speed and control required to meet the complex needs of today’s business landscape.
“GenOne delivers unique cost advantages, output-based pricing, and flexible contracting,” said Alison Close, research manager, digital business operations and analytics services, IDC, a leading industry analyst firm. “Traditional managed services providers will be hard pressed to compete with FaaS solutions like GenOne.”
GenOne builds on key Workday benefits to help clients quickly gain an expanded view of their business health, close cycle time, and improve internal controls and consistency across global operations. It also takes advantage of the Genpact Cora digital business platform, which leverages the power of advanced technologies such as artificial intelligence, machine learning, robotic process automation, and dynamic workflow.
“As companies continue to pursue multiple financial transformation journeys, they’re feeling tremendous pressure to produce quick returns,” said Katie Stein, chief strategy officer and global business leader, Enterprise Services, Genpact. “GenOne allows CFOs to be quickly at the forefront of continuous digital innovation and run their finance operations with agility and flexibility.”
The GenOne solution brings together Genpact’s best-in-class finance and accounting expertise and Deloitte’s deep experience as a Workday services partner.
“Today’s digital economy demands that finance organizations provide value faster, more efficiently, and with greater insights. GenOne will create more opportunities for our clients to radically simplify their financial processes, free up people for more strategic activities, and upgrade their aging legacy technologies,” said Matt Schwenderman, principal, Deloitte Consulting, and U.S. leader of its Workday Financial Management practice. “Bringing together the experiences and capabilities of Genpact, OneSource Virtual, and Deloitte to solve some of CFOs’ most pressing challenges in an innovative way is truly exciting.”
The GenOne solution also leverages OneSource Virtual’s patented Workday integration technology tailored to enabling CFOs and their teams to analyze data immediately, with relevant, contextual financial insights. They can focus on driving strategic business outcomes instead of spending additional time to figure out how to pull essential information from numerous sources throughout an enterprise.
“Working with Genpact and Deloitte has allowed us to use our unique technology and expertise in Workday to accelerate an organization’s finance transformation,” said Trey Campbell, CEO, OneSource Virtual.