Digital transformation was high on the agenda for companies in the financial services sector long before the outbreak of COVID-19, yet many have struggled to deliver on its promise.
During the Workday Elevate Digital Experience, Robert Bloor, group financial controller at Equiniti, spoke to Peter Gamble, regional vice president and country leader, UK & Ireland at Workday, on how his firm overcame back-office complexity to achieve organisational agility. Equiniti’s deployment of Workday Financial Management and Workday Human Capital Management was key to that success.
Here are some highlights from their conversation.
Can you give us some background on Equiniti and what the company does?
Equiniti is a FTSE-listed business that was carved out of Lloyd’s Bank in 2007. We provide back-office services for listed companies, allowing them to manage dividend records for their shareholders and make payments. The common theme is around money transmission and management of records, both fairly complex service areas.
We employ about 5,000 people. Around 500 are in the U.S., and just under 1,000 in Chennai, India, where all our back-office services for IT, finance, HR and operations are supported.
What were the drivers that challenged Equiniti to change the way it operates?