Coventry Building Society, one of the UK’s leading building societies, experienced significant growth over the past 20 years. However, their outdated finance function posed a challenge to their ambitious expansion plans. With Workday technology already in place, Coventry Building Society needed a trusted partner to help implement necessary changes. KPMG stepped in to support their transformation. Read our client to discover how they achieved success in under 16 months.
Accelerating growth for Coventry Building Society
Coventry Building Society’s outdated finance function was putting the organisation’s growth ambitions at risk. Here’s how they turned it around in less than 16 months.
Our focus was on ensuring the project was integrated and aligned at every stage of the transformation journey. Business users were involved from the outset in the entire vision including the design and build process. Using KPMG’s Powered accelerators, users were quickly able to see their new processes, controls and reports on the Workday platform, rather than waiting months to test them and confirm their value.
Key impacts:
- Finance professionals can now spend around 30% more time on value-added activities, providing the organisation with insights that help them achieve their growth objectives.
- The finance team has implemented more than 1,000 changes to the system, using low-code approaches to rapidly update their systems as the needs of the business evolve.
- 90% of reports standardised.
- 90% EUCs & spreadsheets removed.
- 85% reduction in COA‘s values.
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