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Hear from our client, Oceaneering about how they’ve seen many benefits from their KPMG/Workday project.

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We're an over 50-year-old company, very diversified, but oilfield services mostly. Really? When you think about us, it's subsea. We do everything from below the ocean floor all the way up to space for Oceaneering and our industry. When you start thinking about what we do from an energy perspective and thinking about ESG and all the pressures within the industry right now, it's all about energy transition.

What are we going to be able to do going forward to make life better for everyone else while still helping the oil companies and other types of companies generate the revenue that they're going to generate from a safety perspective as well. We selected Workday after looking at their capabilities, but before we even did that, we really looked at our overall plan.

We went to a finance modernization journey, first and foremost, really looking at our overall data where we wanted to go as an organization. And we really led with financial planning and analysis from that perspective. When we looked at Workday, it was a great opportunity to bolt on to our existing ERP while also going to the cloud at the same time and really kind of look at best practices.

We thought it was very agile. We could run a lot of different scenarios, also build our annual operating plan, our forecasts and at the same time look at what we would call kind of our enterprise view and portfolio decisions from that perspective. KPMG was a logical choice for us. We had done some work with KPMG through various different forms, whether it be tax, some treasury work as well, and some of our other transformation work.

So, we did have a lot of trust with the firm in having some conversations with them. They helped us with our journey of building out what a financial transformation would look like. So, we got a lot of comfort through that and knowing that they were a great partner with Workday as well, it was a natural progression for us.

And I think when you go into one of these projects, you know that it's not a one- or two-month engagement. It's going to be anywhere between a 1 to 3 year journey. So, pick somebody who you're going to be comfortable with along the way. I would describe KPMG style as very collaborative. They don't come in with the idea that they know what the answer is going to be.

They really look at and dive deep into how Oceaneering does it. And then not only that, then they KPMG then takes that and decides, well, what's best in practice, right? And then kind of goes from there. KPMG also brought a very subject matter expertise focus to us. We were of what I would call it, immature organization, although we've been around for 50 plus years, they were able to bring a working model to us that we were able to apply to our organization.

We have seen some benefits over the short term in putting up minimal viable product in place. We have kind of reduced our time of putting together our overall forecast and our annual operating plan. But going forward, what we're really looking to see is how do we forecast our cash better? How do we understand where we're making money?

How do we make those portfolio decisions not only quickly, but with confidence? Now, because of Workday Adaptive had one instance where we were looking at profitability analysis for a specific jurisdiction. It took about four days for people in order to do that. Now, with all the information in one system, with Workday Adaptive, we can do that with one person in 20 or 30 minutes.

I think as other companies go along a similar journey, whether it be finance modernization or a specific as it relates to an ERP or any other product that Workday would provide is really understanding, really people process technology, and that technology is not necessarily the end answer. It's more of the enabler. So really, when you think about it, putting all three together at the same time and how do you streamline that and make it better.

Workday client stories

Explore how KPMG has helped clients reach their business objectives and transform their businesses with Workday technology implementations.

Meet our team

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Morris Treadway
Principal, Finance Transformation, KPMG US

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