JOHANNESBURG, South Africa, Nov 30, 2023 — Workday, Inc. (NASDAQ: WDAY), a leader in enterprise cloud applications for finance and human resources, today announced it has been named a Leader in the Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises*. Workday was recognised as a Leader for the eighth consecutive year and positioned the highest for overall Ability to Execute.
As organisations adapt to changing business and workforce demands, they need a unified HCM system to help make faster, more informed talent decisions and gain operational efficiency. Nearly 5,000 organisations across the globe, including BP, PwC, Puma, Southwest Airlines, TaylorMade, Discovery, and more use Workday Human Capital Management (HCM) to manage their workforce, grow and develop talent, and deliver engaging and personalised employee experiences.
“Workday HCM stands out because our innovations offer customers foundational solutions – recruiting, payroll, learning, talent optimisation, workforce management, and more – in one unified, cloud-based system that makes it easier to grow and support a global workforce,” said David Somers, group general manager, office of the chief human resource officer product, Workday. “Now with Workday AI and our expanding partner ecosystem, we’re making business processes smoother and helping customers offer more engaging, connected employee experiences.”
With Workday HCM, organisations can:
Create Connected Employee Experiences With AI and ML
AI and ML are embedded into the core of the Workday platform, enabling the company to rapidly deliver cutting-edge solutions to customers across all applications. With Workday AI, customers can deliver personalised content and development opportunities – e.g. learning, skills, gigs, and more – to employees in a single, connected experience to help drive engagement, productivity, and organisational growth.
For example, Workday is making it easier for managers to succeed by surfacing relevant team information such as team time off, important dates, sentiment, and more when they need it most. Manager Insights Hub, a new solution within Workday HCM, leverages AI to deliver automated insights and timely actions for managers – right in their natural flow of work – enabling them to create opportunities for their team’s career growth and development.
Workday AI models are fueled by more than 625 billion transactions processed by the system every year – resulting in the world’s largest, cleanest set of financial and HR data – which provides the foundation for the models to generate accurate and trustworthy results so managers can engage their direct reports with meaningful career conversations.
Drive Workforce Agility at Scale and Accelerate Time to Value
To keep pace with evolving business and talent demands, organisations need to understand how to best attract, hire, and retain top talent while ensuring their workforce plans stay on target and on budget. With an automated headcount reconciliation process in Workday Adaptive Planning, users can quickly compare real-time cost variances between the headcount plan and actual new hire activity – providing organisations with early visibility into related forecast adjustments and insights needed to take immediate action.
Further, cloud transformations can be complex for any organisation, but it’s particularly challenging for those companies that have industry-specific demands and need to account for future business and workforce growth. To address this, Workday supports organisations across banking, healthcare, higher education, insurance, manufacturing, retail, and more by enabling them to leverage both Workday and partner solutions to help speed their digital transformation efforts and accelerate time to value.
Reshape the Global Payroll Experience
To help organisations adapt to evolving business and payroll needs, Workday is strengthening its global payroll strategy by developing deeper integrations with strategic payroll partners and delivering new native payroll offerings. With customers live on Workday Payroll for Australia, Workday is further empowering them with control, flexibility, and insight to help support compensation, benefits, and compliance changes while delivering an exceptional experience for their employees.
By leveraging the power of a unified data core, Workday is elevating the value of a payroll solution combined with Workday HCM, helping customers employ the data used for payroll to inform the business strategy.
For More Information
- Read the blog, “Workday Named Leader for 8th Consecutive Year in 2023 Gartner® Magic Quadrant™ for Cloud HCM Suites for 1,000+ Employee Enterprises,” by David Somers, group general manager, office of the chief human resource officer product, Workday.
- Read a complimentary copy of the Gartner report on the Workday website.
*Gartner “Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises,” by Ranadip Chandra, Sam Grinter, Chris Pang, Jeff Freyermuth, Ron Hanscome, Helen Poitevin, John Kostoulas, Emi Chiba, Rania Stewart, October 19, 2023.
Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organisation and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
Workday is a leading provider of enterprise cloud applications for finance and human resources, helping customers adapt and thrive in a changing world. Workday applications for financial management, human resources, planning, spend management, and analytics are built with artificial intelligence and machine learning at the core to help organisations around the world embrace the future of work. Workday is used by more than 10,000 organisations around the world and across industries – from medium-sized businesses to more than 50% of the Fortune 500. For more information about Workday, visit workday.com.
© 2023 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.
This press release contains forward-looking statements including, among other things, statements regarding Workday’s plans, beliefs, and expectations. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialise, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission (“SEC”), including our Form 10-Q for the fiscal quarter ended July 31, 2023, and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.
Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday’s discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available.
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