Workday

Workday is a leading provider of enterprise cloud applications for human capital management, financial management, and planning, used by organizations such as Amazon, Google, and Microsoft. The company was founded by David Duffield and Aneel Bhusri in 2005, with the goal of creating a more intuitive and user-friendly alternative to traditional ERP systems, such as those offered by SAP and Oracle Corporation. Workday has received numerous awards and recognition, including being named one of the Fortune 100 Best Companies to Work For by Fortune (magazine) and one of the Best Places to Work by the Human Rights Campaign. The company has also partnered with other leading technology firms, including Salesforce, IBM, and Accenture.

Overview

Workday is a cloud-based financial management and human capital management software vendor, providing a range of applications for organizations to manage their financial, human resources, and planning functions, similar to Infor, Epicor Software, and Unit4. The company's software is used by a wide range of organizations, including Stanford University, University of California, Berkeley, and Harvard University, as well as companies such as Coca-Cola, McDonald's, and Walmart. Workday's applications are designed to be highly configurable and scalable, making them suitable for use by organizations of all sizes, from small and medium-sized businesses like Dropbox and Airbnb, to large enterprises like General Electric and Procter & Gamble. The company has also developed strategic partnerships with other leading technology firms, including Adobe Systems, Cisco Systems, and Hewlett Packard Enterprise.

History

Workday was founded in 2005 by David Duffield and Aneel Bhusri, who had previously co-founded PeopleSoft, a company that was acquired by Oracle Corporation in 2005, and Greylock Partners, a leading venture capital firm. The company received initial funding from Greylock Partners and New Enterprise Associates, and later received additional funding from Kleiner Perkins and T. Rowe Price. Workday launched its first product, Workday Human Capital Management, in 2006, and later added financial management and planning applications to its product portfolio, competing with other leading vendors like SAP SuccessFactors, Oracle HCM Cloud, and Infor HCM. The company has since expanded its product offerings to include applications for procurement, expenses, and student information systems, used by institutions like University of Oxford and University of Cambridge.

Products and services

Workday offers a range of cloud-based applications for financial management, human capital management, and planning, including Workday Financial Management, Workday Human Capital Management, and Workday Planning, which are used by companies like Goldman Sachs, Morgan Stanley, and JPMorgan Chase. The company's financial management application provides a range of features for financial planning, accounting, and procurement, similar to SAP ERP and Oracle ERP Cloud. The human capital management application provides features for recruitment, talent management, and benefits administration, competing with Workforce Software and Ceridian. The planning application provides features for financial planning, budgeting, and forecasting, used by organizations like National Football League and Major League Baseball. Workday also offers a range of services, including implementation, support, and training, provided by partners like Deloitte, Ernst & Young, and KPMG.

Business model and financial performance

Workday generates revenue through subscription fees for its cloud-based applications, as well as through professional services, such as implementation and support, similar to Salesforce and Microsoft Dynamics. The company has a strong track record of growth, with revenue increasing from $134 million in 2011 to over $3 billion in 2020, driven by partnerships with companies like Amazon Web Services, Google Cloud Platform, and Microsoft Azure. Workday has also been recognized for its financial performance, including being named one of the Fortune 500 by Fortune (magazine) and one of the Fastest-Growing Companies by Forbes. The company has received investments from leading venture capital firms, including Greylock Partners, Kleiner Perkins, and New Enterprise Associates, and has partnered with other leading technology firms, including Cisco Systems, Hewlett Packard Enterprise, and Intel Corporation.

Corporate affairs

Workday is headquartered in Pleasanton, California, and has offices in a number of locations around the world, including New York City, London, and Tokyo. The company is led by Aneel Bhusri, who serves as CEO, and Mark Peek, who serves as CFO, and has a strong leadership team with experience from companies like Oracle Corporation, SAP, and IBM. Workday has a strong commitment to corporate social responsibility, and has been recognized for its efforts in areas such as diversity and inclusion, and environmental sustainability, similar to Google and Facebook. The company has also partnered with other leading organizations, including United Nations, World Economic Forum, and The Nature Conservancy, to support its corporate social responsibility initiatives.

See also

Workday is often compared to other leading cloud-based software vendors, including Salesforce, Microsoft Dynamics, and SAP SuccessFactors, and has partnered with companies like Accenture, Deloitte, and Ernst & Young to provide implementation and support services. The company's applications are used by a wide range of organizations, including Stanford University, University of California, Berkeley, and Harvard University, as well as companies like Coca-Cola, McDonald's, and Walmart. Workday has also received recognition for its financial performance, including being named one of the Fortune 100 Best Companies to Work For by Fortune (magazine) and one of the Best Places to Work by the Human Rights Campaign, and has been named one of the Most Innovative Companies by Fast Company and one of the Best Companies to Work For by Glassdoor. Category:Cloud computing companies