Mercury NZ transforms finance with Workday cloud solution

Mercury NZ has announced a major step in its business transformation efforts through the adoption of Workday, a prominent provider of financial and human resource management solutions.

The New Zealand-based company, which generates electricity exclusively from renewable sources, will utilise Workday's cloud-based financial system to support its strategic and commercial decision-making processes.

Mercury NZ supplies electricity, gas, broadband, and mobile services across New Zealand, operating 20 power stations and employing 1,500 people.

As one of the largest electricity retailers and generators in the country, Mercury is committed to aiding New Zealand's transition to a low-emission economy. The company currently holds the position of the largest wind generator and the second-largest gentailer in the nation.

In alignment with its strategic goals, Mercury will replace its existing legacy finance system with a suite of Workday Financials applications. These include Core Finance, Financial Planning, Projects, and Prism Analytics. The implementation of Workday's system will be handled in partnership with global professional services firm Accenture NZ.

William Meek, Mercury's Chief Financial Officer, articulated the anticipated benefits of the new system.

"Along with changes in the way our wonderful finance people work, the Workday system will create more financial visibility for everyone at Mercury, enabling better informed financial and business decisions. Our finance team will be freed from many manual tasks to focus on being trusted advisors, and all of our people will have access to a streamlined, natural user experience and embedded workflow management across functional areas," Meek stated.

The adoption of Workday Financials is expected to significantly transform Mercury’s finance function, enabling it to act as a more effective business partner to drive growth.

The new system aims to improve the finance experience across the company through simplified processes and enhanced ways of working, allowing Mercury to continuously adapt and evolve. Additionally, the platform's capabilities will provide actionable data and insights, thereby improving overall business performance.

Workday's platform features artificial intelligence (AI) and machine learning (ML) technologies, which are integrated to enhance user experience, operational efficiency, and facilitate quicker data-driven decision-making.

Jonathan Brabant, New Zealand Director at Workday, expressed his enthusiasm about the collaboration.

"We are proud to support an organisation that combats climate change by reducing carbon emissions through the use of renewable energy sources. By providing the cloud applications that help Mercury NZ modernise its finance function, we can help the organisation focus on the continuous improvement needed to drive better outcomes for all."

Mercury’s transition to Workday Financials signifies a crucial move towards modernising its financial system, thus ensuring the company is well-equipped to support its expansive operations and strategic initiatives. Mercury NZ’s commitment to sustainability and innovative business practices is set to be further bolstered through the implementation of these advanced financial management tools.