More Global Organizations Deploy Workday to
Support Accelerating Digital Finance Transformation
Strategies
PLEASANTON, Calif., March 23,
2022 /PRNewswire/ -- Workday (NASDAQ:WDAY), a leader
in enterprise cloud applications for finance and human resources,
today announced continued momentum for its office of finance
solutions, as large enterprises around the world continue deploying
Workday to help drive digital finance transformation strategies. In
the company's fiscal 2022 fourth quarter, customers including
American Financial Group, Bon Secours Mercy Health, Christmas Tree
Shops, Federal National Mortgage Association (Fannie Mae), Nuffield
Health, Sharp HealthCare, and SS&C Technologies deployed
Workday finance solutions to help manage performance and growth and
drive business-critical decisions.
![(PRNewsfoto/Workday) (PRNewsfoto/Workday)](https://mma.prnewswire.com/media/1724389/Workday_Logo.jpg)
Workday also announced a record number of deployments for its
core finance offerings — Workday Financial Management, Workday
Adaptive Planning, and Workday Strategic Sourcing — in its
fiscal year 2022 (Feb. 1,
2021-Jan. 31, 2022), with nearly
1,500 deployments during that period, signaling an increased demand
for Workday solutions supporting the office of the chief financial
officer (CFO).
Innovation for the Office of the
CFO
The company's broad portfolio of cloud finance offerings brings
new levels of visibility and control that go beyond the boundaries
of traditional enterprise resource planning (ERP) systems. Together
Workday Financial Management, Workday Adaptive Planning, Workday
Accounting Center, Workday Prism Analytics, and Workday Spend
Management, which includes Workday Strategic Sourcing, deliver
a deep and comprehensive solution for enterprise planning and
analysis across all finance processes.
Specifically, Workday continues to drive innovation across its
solutions to help global customers:
- Become decision-ready with the Workday intelligent data
core. Workday offers a unique architecture that allows finance
teams to harness the power of data by blending operational and
transactional data into a single source. Workday Accounting Center,
built on this foundation, represents a fundamental change in the
way finance teams manage external transactions by dramatically
simplifying the transformation of high-volume operational data into
accounting.
- Adapt to changing business conditions with continuous
planning. Workday Adaptive Planning enables customers to
collaboratively forecast and budget with driver-based planning and
what-if scenario modeling. Predictive forecasting, powered by
machine learning, enables easy evaluation across multiple
scenarios, such as changing market conditions, regulatory changes,
or currency fluctuations, in order to rapidly adapt to change.
- Modernize accounting and procurement processes. Workday
increases efficiency by embedding machine learning into core
processes. With Workday Financial Management, finance teams spend
less time on transaction processing and are empowered to focus more
on strategy and analysis to drive the business forward. In
addition, Workday Spend Management automates the source-to-pay
process and provides complete visibility to help finance and
purchasing departments strategically manage costs, minimize
out-of-policy spend, and optimize purchasing power.
Comments on the News
"Leading organizations recognize that today's environment
requires faster, more flexible finance processes to work at the
speed of business," said Sheri
Rhodes, chief customer officer, Workday. "Workday leads the
way with an intelligent data core that allows customers quick and
reliable access to financial and operational data for planning,
analysis, and execution -- all within Workday. As a result, an
increasing number of large, complex enterprises are replacing their
legacy technology with Workday to accelerate their digital
transformation efforts and help them drive breakthrough
performance."
"In finance, change is everywhere, and the new battlefield is
software applications that can cope with rapid change," said
Kevin Parmenter, research director,
Financial Applications, IDC. "We've seen Workday's finance
offerings grow rapidly over the past few years and believe it is
set to continue that growth as digital finance transformation
initiatives continue globally. It's apparent that Workday's
investment in cloud-native architecture principles will continue to
pay dividends in the near future."
About Workday
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 have been adopted by thousands of organizations
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.
© 2022 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.
Forward-Looking
Statements
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
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Commission ("SEC"), including our Form 10-K for the fiscal year
ended January 31, 2022, and our
future reports that we may 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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SOURCE Workday Inc.