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Workday - Next Generation HCM Technology
Vendor Analysis
published on Mar 16, 2018
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Report Overview:
This NelsonHall assessment analyzes Workday's offerings and capabilities in next generation HCM technology.
Who is this Report for:
NelsonHall’s HCM Technology vendor assessment for Workday is a comprehensive assessment of Workday’s HCM platform offering and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of HCM technology and identifying vendor suitability for HCM technology RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the HR Technology sector
- HR and payroll decision makers.
Scope of this Report:
The report provides a comprehensive and objective analysis of Workday’s Next Generation HCM Technology offering, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery locations.
Key Findings & Highlights:
Workday, Inc. headquartered in Pleasanton, CA is a provider of cloud based HR and finance software through a SaaS (software as a service) model.
Workday's cloud based HCM software offering provides the following modules and features:
- Core HR
- Talent Management
- Compensation
- Benefits
- Absence Management
- Planning
- Recruiting
- Learning
- Payroll
- Time and attendance
- PRISM analytics.
Workday's cloud architecture centers on its "Power of One" approach, maintaining one version of the software, one client community, and one single code line. Workday leverages a multitenant architecture, allowing clients to be on the same version of software.
Workday has ~2.1k clients (~70% of which are live) and has traditionally been highly adopted by the middle enterprise and small enterprise market segments, though it has also seen strong growth with large enterprise organizations.
Currently, the Workday client base is made up of 20 of the Fortune top 50 companies and 35% of the Fortune 500; its large enterprise clients include Hewlett Packard, Federal Express, 3M, IBM, Unilever, United Technologies, Bank of America, and Target.