The asset finance software firm faced a burning platform for change due to its initial public offering in summer 2017. The firm’s listing on the London Stock Exchange meant it went from being a privately owned organisation that had to produce a set of financial statements once a year to a publicly listed entity that had to create detailed monthly reports.
While Alfa is UK-headquartered, the firm also has subsidiaries in America, Australia and New Zealand. Finance Director Andrew Robertson explains that the wide breadth of data across the firm meant the business needed to introduce more automation into its processes and the primary focus of the Workday implementation was consolidation:
We wanted to move to industry best practice in our core financial transactions. That included the operations of the finance team, so running accounts payable, running accounts receivable, paying your suppliers, invoicing your customers and doing your bank reconciliations. We wanted to standardise those processes and have the controls within the system. That ticked a big audit and control point that comes with being a listed company.
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