Zumiez Adopts Workday for Finance Transformation
Zumiez Adopts Workday's Enterprise Finance Solution for Digital Transformation
Zumiez, a leading specialty retailer with over 700 stores across the United States, Canada, Europe, and Australia, has partnered with Workday, Inc. to streamline and digitize its finance and accounting processes. The partnership aims to equip Zumiez with integrated financial management, sophisticated analytics, and flexible enterprise planning tools, enabling improved visibility, faster financial close, informed decision-making, and enhanced operational efficiency.
The core of this partnership lies in the adoption of Workday's Enterprise Finance solution, which integrates core financials, advanced analytics, and enterprise planning within a unified cloud system. This solution brings disparate data from operational enterprise resource planning (ERP) systems into a finance system built for the cloud.
One of the key benefits for Zumiez is the ability to leverage a high-volume analytics platform for better business insights. Workday's Financial Management is being used by Zumiez to centralize finance and accounting in the cloud, while Workday Adaptive Planning and Workday Prism Analytics provide comprehensive budgeting, forecasting, and real-time analytics capabilities.
Terrance Wampler, general manager of Workday Financial Management, commented, "We're thrilled to welcome Zumiez to the Workday community. Our Enterprise Finance solution is designed to help retailers like Zumiez plan, execute, and analyze with a deeper understanding of their business to manage through changing market conditions."
Chris Work, chief financial officer of Zumiez, expressed the retailer's strategic priority of digitizing finance to better serve customers and adapt to changing conditions. He stated, "In today's competitive retail landscape, it's crucial to have a robust, agile, and data-driven finance function. We believe Workday's solutions will empower us to make faster, informed decisions and better anticipate and react to changing consumer needs."
The partnership between Zumiez and Workday is part of a broader trend among retail leaders to digitize finance. By automating key finance processes, such as accounts payable, receivable, and expenses, Workday aims to help Zumiez accelerate its digital finance transformation, reducing errors and accelerating cash flow.
The partnership is also a response to the significant changes in the retail industry over the past year. With the rise of e-commerce and the need for omnichannel retail strategies, Workday's solutions provide Zumiez with the flexibility to combine individual Workday products with existing financial systems or replace their entire financial software suite.
Zumiez, headquartered in Seattle, operates in a dynamic retail environment. The Workday Enterprise Finance solution's scalable cloud platform supports growth and agility, essential for retail chains facing competitive, fast-changing markets.
Sources:
[1] Workday. (n.d.). Workday Enterprise Finance. Retrieved from https://www.workday.com/en-us/products/financial-management.html
[2] Workday. (n.d.). Workday Financial Management. Retrieved from https://www.workday.com/en-us/products/financial-management.html
[3] Workday. (n.d.). Workday Adaptive Planning. Retrieved from https://www.workday.com/en-us/products/adaptive-planning.html
[4] Workday. (n.d.). Workday Prism Analytics. Retrieved from https://www.workday.com/en-us/products/prism-analytics.html
- As Zumiez aims to adapt to changing market conditions in the dynamic retail environment, the partnership with Workday, a leading technology company, will provide the specialty retailer with an integrated finance management system, equipped with sophisticated analytics and flexible enterprise planning tools, to enhance operational efficiency in various sectors such as finance, retail, and business.
- By adopting Workday's Enterprise Finance solution, Zumiez will not only digitize its finance and accounting processes but also leverage advanced analytics to make faster, data-driven decisions in the finance industry, leading to improved visibility, informed decision-making, and operational efficiency, ultimately benefitting both the company and its customers.
