Workday Unifies Financial and Workforce Planning With Transactions in One Cloud System
(Thomson Reuters ONE) -
Workday Planning Redefines Spreadsheets for the Enterprise and Fosters More
Collaborative, Continuous Planning to Drive Better Business Outcomes
PLEASANTON, CA--(Marketwired - Sep 27, 2016) - WORKDAY RISING -- Workday, Inc.
(NYSE: WDAY), a leader in enterprise cloud applications for finance and human
resources, today announced the availability of Workday Planning, the first
planning, budgeting, and forecasting application that unifies financial and
workforce planning in one system when combined with Workday Financial Management
and Workday Human Capital Management (HCM). Organically built as part of
Workday, the new application is designed for today's dynamic business
environment, allowing key stakeholders across an organization to collaborate on
planning and continuously adapt to business changes in order to drive growth and
performance. More than 50 organizations have already selected Workday Planning
including CityMD, City of Orlando, and Netflix.
A Unified Planning System Built for Change
The world of financial and workforce planning today is disjointed, with data
residing across multiple systems and silos of spreadsheets that require finance,
HR, and business leaders to spend considerable time on manual calculations to
ensure data integrity, rather than analysis and driving business outcomes.
To support the faster pace of business -- whether it's mergers and acquisitions,
adopting new business models, or global expansion -- organizations need to be
able to make in-the-moment decisions about the future.
In response to market and customer challenges, Workday is delivering a new
approach to enterprise planning that enables customers to:
* Configure Planning to Business Needs: Customers can define their plan
structure for financial or workforce planning by month, quarter, or year,
and use the plan generator to create baseline plans using historical or
real-time finance and HR data in the system.
* Collaborate Across the Business: Planning teams can use Workday's
worksheets, which bring the familiarity and functionality of a spreadsheet
into Workday's secure enterprise environment, to create models and scenarios
leveraging live transactional data, and then partner with key stakeholders
to iterate and finalize a budget, forecast, or headcount plan.
* Continuously Plan and Execute on Budgets: While executing on plans,
organizations can leverage real-time financial and management reporting
capabilities with built-in analytics and visualizations to drill-down to
track progress and make adjustments to budgets and forecasts as business or
market shifts occur.
Workday Planning enables customers to take advantage of these benefits to
evaluate the impact of investments, growth, and expansion strategies on the
business in one system. For example, customers can use Workday Planning to:
* Evaluate Investment Viability with Ad hoc Forecasting: A vice president of
financial planning and analysis can respond to a chief financial officer's
(CFO) request for a forecast on the impact of a new investment on the
company's profit and loss (P&L) statement through different modeling
assumptions. Using existing financial, employee, and operational data in
Workday, the vice president can create a driver-based model using
collaborative worksheets -- without the inefficiency of offline calculations
and multiple versions -- to analyze the investment's impact on revenue,
spend, and profitability, helping inform the decision of whether to proceed.
* Determine the Best Staffing Model to Support Growth: A CFO and chief human
resources officer (CHRO) can collaborate to determine the best strategy to
address rapid growth in the organization using Workday Planning to model
different staffing scenarios such as how many contingent, full-time, and
part-time employees are needed in each region. With Workday Planning, the
CFO and CHRO can determine how staffing changes may impact budgets and
financial performance, and collaborate with key stakeholders across the
organization for alignment and execution.
* Better Manage Expansion Strategies and Costs: As CEOs look to expand their
business regionally or globally, their teams must determine the office
space, travel, and infrastructure costs required, and then compare these
findings against other expansion strategies. With Workday Planning, a vice
president of business development can update headcount forecasts on a tablet
during a meeting with the executive team. From there, they can drill down
into specific data such as open job requisitions, and then graphically
showcase office space and budget required based on square footage per
worker, travel between locations, or location-specific employee benefit
costs.
Comments on the News
"Workday Planning has been a top request from our customers and we're delivering
on our promise to build an innovative planning system that works seamlessly with
their existing Workday data," said Mike Frandsen, executive vice president,
products, Workday. "With Workday Planning, customers -- for the first time --
will have a unified, collaborative, and continuous view of their business so
they can make real-time decisions regarding their organization's future, and
ultimately drive performance."
"In today's fast-paced, high growth business environment, organizations are
increasingly adopting cloud-based financial applications that enable them to
quickly analyze data and make real-time strategic decisions," said Mickey North
Rizza, program vice president, Enterprise Applications and Digital Commerce,
IDC. "In the case of enterprise planning, organizations are looking to evolve
spreadsheet-driven processes in order to run their businesses more efficiently
and better utilize resources. With Workday Planning, organizations will be able
to leverage a new spreadsheet experience in the cloud, enabling a more
collaborative and continuous approach to planning and in-the-moment strategic
decision making."
"Utilizing Workday's unified finance and HR system has helped us continually
scale our global business, which is why it was important to be part of shaping a
new approach to enterprise planning that further aligns our finances and
people," said Riaan du Preez, director, finance and HR applications, Netflix.
"We anticipate Workday Planning will extend the benefits of Workday, helping us
improve consistency of data throughout the planning process and analysis of
actuals versus forecasts."
About Workday
Workday is a leading provider of enterprise cloud applications for finance and
human resources. Founded in 2005, Workday delivers human capital management,
financial management, and analytics applications designed for the world's
largest companies, educational institutions, and government agencies. More than
1,000 organizations, ranging from medium-sized businesses to Fortune 50
enterprises, have selected Workday.
Forward-Looking Statements
This press release contains forward-looking statements including, among other
things, statements regarding the expected performance and benefits of Workday's
offerings. The words "believe," "may," "will," "plan," "expect," and similar
expressions are intended to identify forward-looking statements. These forward-
looking statements are subject to risks, uncertainties, and assumptions. If the
risks materialize or assumptions prove incorrect, actual results could differ
materially from the results implied by these 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
quarter ended July 31, 2016 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, Inc. services should make
their purchase decisions based upon services, features, and functions that are
currently available.
© 2016. Workday, Inc. All rights reserved. Workday and the Workday logo are
registered trademarks of Workday, Inc.
Media Contact
Nina Oestlien
Workday
+1 (415) 432-3041
Nina.Oestlien(at)Workday.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Workday Inc. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 27.09.2016 - 17:05 Uhr
Sprache: Deutsch
News-ID 497386
Anzahl Zeichen: 9971
contact information:
Town:
Pleasanton
Kategorie:
Business News
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"Workday Unifies Financial and Workforce Planning With Transactions in One Cloud System"
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