Enterprise management company Workday is teaming up with global management consulting firm McKinsey to bring McKinsey’s proprietary knowledge and analytics, benchmarks, and recommendations to the Workday Enterprise Management Cloud. The partnership will provide real-time data-driven insights and recommendations for the C-suite to solve challenges in finance and human resources, thanks in part to McKinsey’s expert insights across industries and functions paired with Workday’s innovative technology and analytics. It will also enable clients to address business challenges and maximize returns from their technology and data investments.
McKinsey and Workday have already achieved notable impact in their first phase of work, including enhancing Workday Strategic Sourcing by building a dynamic negotiation analytics engine to evaluate procurement bids. In less than two years of implementation, they have successfully refined, piloted, and deployed the technology with more than 30 clients, capturing nearly $2 billion in savings as measured by McKinsey.
“Leaders are looking for the technology and expertise that will help them make the best decisions possible in this challenging moment,” said Bob Sternfels, a McKinsey global managing partner.