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Accenture is teaming up with Workday to help firms in the retail, technology and media sectors optimize their accounting teams’ workflows. 

Workday is an enterprise software vendor that sells an accounting application for big firms. The application simplifies day-to-day finance tasks such as tracking expenses, paying suppliers and generating revenue forecasts for a firm’s top executives.

Big companies extensively customize software products before deploying them and Workday’s accounting platform is no exception. Through its partnership with Workday, Accenture will manage that customization process for clients.

The firm will deliver its know-how in the form of nine vertical-specific solutions for retail, technology and media firms. Accounting teams’ requirements vary across those sectors and the solutions take that into account.

Accenture executive Emma McGuigan commented that “CFOs are challenged to optimize spend and increase profit margins, while finding new ways to leverage data to drive profitable growth. To help our clients be truly agile and drive real-time reinvention, our expanded collaboration with Workday will provide pre-integrated finance solutions.”

Enterprise tech firms, which constitute one of the audiences Accenture’s new solutions target, usually sell their software via subscriptions. This means many accounting chores related to client billing have to managed differently than at a less software-centric company that sells physical products.

Accenture says that it has also developed solutions for clients in the media sector. A company like a TV station operator sometimes licenses its content to other firms, which can get fairly complicated from an accounting standpoint and  therefore also requires industry-specific billing functionality.

Accenture and Workday are rolling out the solutions together with a big client announcement: they’ve already completed a successful project for Salesforce, one of the biggest names in the enterprise technology world. The fact Salesforce is a client should be especially useful for Accenture when it pitches its solutions to other enterprise technology companies.

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