Century-Old Insurer Accelerates Growth with Workday Finance Transformation

Client

A century of protection and innovation

The client, a UK-headquartered home-appliance protection and repair insurer, has been a trusted name for millions of customers across the UK and Europe. The client partners with leading consumer electronics brands to deliver comprehensive protection services. To manage its vast operations, the insurer relies on Workday for both Human Capital Management (HCM) and Finance, ensuring seamless service delivery at scale.

Challenge

Navigating complex finance operations

• The Need for a Strong Workday AMS Partner

As the insurer expanded across multiple markets, the complexity of its operations grew. The business required an Application Management Services (AMS) partner with deep expertise to manage intricate integrations, enforce robust security policies, and oversee critical finance processes spanning expenses, revenue, procurement, and accounting.

• Manual Processes Hampering Efficiency

The finance team faced significant hurdles with manual period-end journal validation. This labor-intensive process not only introduced errors and rework but also extended the month-end close cycle, delaying critical financial insights.

• Lack of Real-Time Financial Anomaly Detection

Without automated anomaly detection, finance teams were forced to manually review thousands of journal entries. This reactive approach increased the risk of missed discrepancies and consumed valuable resources.

• Fragmented Reporting and Limited Visibility

Reporting was siloed across business units, limiting the organization’s ability to monitor spend, track key performance indicators, and forecast accurately. This fragmentation hindered strategic decision-making and financial governance.

• Heavy Manual Effort in Supplier Invoicing

Supplier invoicing and spend classification demanded significant manual effort due to limited automation, further straining resources and increasing the risk of errors.

• The Need for Scalable Regional Support

With operations spanning multiple regions, the insurer needed a scalable support model to ensure consistent service delivery and compliance across all markets.

Solution

Hexaware’s AI-driven transformation journey

• Stabilizing Operations with Enterprise Platform Services

Hexaware stepped in as a strategic AMS partner, deploying its Enterprise Platform Services to stabilize and modernize the insurer’s finance and HR operations. The engagement began with comprehensive business process assessments and stakeholder workshops, which identified operational bottlenecks and laid out a roadmap for automation and continuous improvement.

• Implementing AI-powered Finance Automation

Hexaware introduced Workday SANA and Journal Insights, leveraging AI to automate anomaly detection across financial journals. This solution identified unusual work tags, amount variances, ledger exceptions, and company code discrepancies in real time, dramatically reducing manual review efforts.

• Modernizing Reporting and Integrations

The team replaced fragmented spreadsheets with standardized, real-time financial dashboards powered by Workday SANA. These dashboards provided instant access to KPIs, variance analysis, and audit visibility, empowering leadership with actionable insights. Hexaware also optimized integrations with banks, ERPs, payroll providers, and tax systems, streamlining reconciliation and exception handling.

• Extending AI Across Finance and HR

AI enablement was expanded beyond finance to HR operations, introducing AI-powered talent management, personalized employee experiences, and automation of routine HR tasks. This holistic approach ensured efficiency gains across the organization.

• Comprehensive Support and Governance

Hexaware delivered end-to-end AMS, including global L2/L3 support for HCM and Finance modules, security and access management, release readiness and adoption, and a robust reporting factory for budgeting, forecasting, and compliance. Best-practice process improvements further streamlined e-invoicing, revenue recognition, and supplier management.

Benefits

Metrics-driven efficiency and growth

• 25% Faster Month-End Close Resets the Pace

Automated journal anomaly detection and AI-driven insights enabled the finance team to close books 25% faster, accelerating the availability of financial data for decision-making.

• 30% Reduction in Journal Review Time

Intelligent exception identification and streamlined validation processes cut journal review time by 30%, freeing up finance resources for higher-value activities.

• 25% Increase in Anomaly Detection Accuracy

With Workday Sana and Journal Insights, anomaly detection accuracy improved by 25%, reducing the risk of financial discrepancies and enhancing compliance.

• 25% Fewer Support Tickets, 40% Lower Run Costs

Preventive fixes, proactive monitoring, and automation led to a 25% reduction in support tickets and a remarkable 40% decrease in operational run costs.

• 20% Decrease in HR-IT Costs, 15% Sales Growth

Efficient onshore-offshore delivery and process modernization drove a 20% reduction in HR-IT costs and a 15% increase in sales volume, directly impacting the bottom line.

• Sustained 9/10 Customer Satisfaction

Consistent delivery, robust governance, and continuous improvement maintained a high customer satisfaction score of 9 out of 10.

Summary

A scalable, AI-enabled future

Today, the insurer enjoys faster financial close cycles, lower operating costs, and stronger data quality across its operations. With a scalable, AI-enabled foundation in place, the company is well-positioned for continued growth throughout Europe. Hexaware’s partnership has not only transformed finance and HR but also empowered the organization to embrace innovation, efficiency, and agility as it looks to the future.

Accelerate Your Transformation with Workday AI

Discover how Hexaware’s expertise in Workday, combined with AI-powered solutions like Workday Sana and Journal Insights, can help you transform your finance and HR operations.