IT Brief New Zealand logo
Technology news for New Zealand's largest enterprises
Story image

Workday – who are they and what do they do?

By Sean Mitchell
Wed 14 Nov 2018
FYI, this story is more than a year old

Workday is a business software vendor based in California. It is best known for its human capital management (HCM) software, which is sold on a Software as a Service (SaaS) basis.

Founded 13 years ago in California, the company listed on the NASDAQ in late 2012. Since then it shares have more than tripled. The company is currently valued at $29 billion.

The founders Dave Duffield and Aneel Bhusri had a lot of pedigree in the HCM sector. Dave having founded and Aneel having been in senior management at PeopleSoft. Their previous venture was taken over by Oracle in 2004. It was a hostile take over, which provided some of the impetus to start Workday.

It’s customer base

Workday boasts that over half of the Fortune 50 largest companies use it’s tools, with 35% of the top 500.

The global names include established brands like General Electric, Siemens, Unilever and Citibank, as well as next generation companies like Airbnb, Amazon, Netflix and Spotify.

In Asia Pacific, this includes Hitachi, Haier, Commonwealth Bank and Air New Zealand amongst hundreds of others.

Expansion of its product range

Seven years ago when listing on the NASDAQ Workday had about 15% penetration in the Fortune 500, today its approximately 35%.

Almost all of this is with Workday’s flagship HCM tools. While opportunities exist to continue growing its HCM market share, it has been expanding into other areas of business software.

In 2007 they entered the financial software space by launching Workday Financial Management. Since then significant advancements have been made on the product and it's now seen to be an advanced and mature offering.

In June 2018 the company acquired Adaptive Insights, which offers business intelligence software for the finance and sales teams. The acquisition cost $1.55 billion and majorly advanced its business planning and analytics offering.

“Adaptive Insights is an industry leader with its Business Planning Cloud platform, and together with Workday, we will help customers accelerate their finance transformation in the cloud," said Aneel Bhusri, Co-Founder and CEO, Workday. “I am excited to welcome the Adaptive Insights team to Workday and look forward to coming together to continue delivering industry-leading products that equip finance organisations to make even faster, better business decisions to adapt to change and to drive growth.”

Adaptive Insights had been partnered with NetSuite, who competes with Workday. Which over time will offer an opportunity for Workday’s sales teams to convert.

This more comprehensive product offering hasn’t meant less focus on its core HCM products with innovations regularly being announced. 

It's future direction

The company is putting artificial intelligence and machine learning to work for its clients. Earlier this month, they introduced Workday Skills Cloud, a powerful set of technologies to helps organisations cleanse, understand, and relate job skills data.

Within the skills cloud, Workday has already successfully applied machine learning matching to its own proprietary data, customer contributed data, and additional seed data from public sources to reduce one million user-entered skills down to a manageable 55,000 verified skills.

“Nearly every organisation wants to develop and reskill their workforce to grow their people and their business, but they lack a fundamental understanding of the skills they have and the skills they need,” said Cristina Goldt, vice president, HCM products, Workday. “Our skills cloud tackles this issue head-on with machine learning algorithms that bring calm to the chaotic language of skills. This will ultimately help customers connect skills to people in a more meaningful way to improve how they get work done, develop existing workers, and allocate talent to better meet evolving business needs.”

Related stories
Top stories
Story image
Cybersecurity
What every CISO must answer to enable a best-in-class security operations program
It has been widely reported recently that South Australian government employees have been the victims of a cyberattack.
Story image
Identity and Access Management
The post-pandemic workforce requires secure IAM capabilities
HID Global discusses what identity and access management means for organisations in today's convoluted digital world.
Story image
Microsoft
Microsoft previews Power Platform website design offering
Microsoft has announced the preview of Power Pages, the fifth product in its Power Platform family, designed for low-code makers and professional developers.
Story image
SaaS
The paradox of change, and how to get around it
The business decision to technologically transform should not come from an IT department but from the business itself.
Story image
Training
Trojan cyber attacks hitting SMBs harder than ever - Kaspersky
In 2022 the number of Trojan-PSW detections increased by almost a quarter compared to the same period in 2021 to reach 4,003,323.
Story image
Microsoft
Elevation of Privilege the top 2021 Microsoft vulnerability
BeyondTrust has released its 2022 Microsoft Vulnerabilities Report, finding that Elevation of Privilege is the top vulnerability category for the second consecutive year.
Story image
Digital Marketing
Getty Images delves into the world of NFTs with Candy Digital
Getty Images and Candy Digital, the next-generation digital collectible company, have announced a new multi-year partnership agreement.
Story image
Ransomware
APAC organisations fail to disclose ransomware breaches
85% of organisations in APAC were breached by ransomware at least once in the past five years, but only 28% publicly disclosed the incident.
Story image
Vectra AI
Vectra’s inaugural Partner of the Year Awards revealed
APAC companies Baidam, Firmus, ShellSoft and Macnica have been recognised in Vectra AI's inaugural Partner of the Year Awards.
Story image
Ransomware
CERT NZ releases first Cyber Security Insights for 2022
CERT NZ has released Quarter One: Cyber Security Insights 2022, which offers an overview of reports about cybersecurity incidents affecting New Zealanders.
Booster
Booster Innovation Fund. A fund of Kiwi ingenuity – for Kiwi investors.
Link image
Story image
Alteryx
Alteryx releases updates, empowers data insights for enterprise
Alteryx has released new advancements designed to aid enterprises with cloud analytics, democratise insights and ensure data governance.
Story image
Sustainability
Equinix announces milestones on sustainability commitments
Equinix has released its 2021 Sustainability Report which outlines progress, innovation and accomplishments on key ESG commitments.
Story image
Ponemon Institute
Email revealed to be riskiest channel for data loss
More than half (60%) of organisations experienced data loss or exfiltration caused by an employee mistake on email in the last 12 months.
Story image
Digital Signage
MAXHUB's Digital Signage range to bolster boardroom productivity
The new MAXHUB Digital Signage technology is purpose-built to make every kind of team meeting more effective.
Story image
Digital Marketing
Similarweb acquires SEO and rank tracking company Rank Ranger
Digital intelligence company Similarweb, which specialises in analysing web traffic, has acquired Rank Ranger, a market leader in SEO and rank tracking.
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Cybersecurity
Accenture - a collective security approach a driving factor for cyber resilience
With the approaching Davos World Economic Forum upon us, it is even more imperative to discuss the impact of cybersecurity on business operations leading into the future.
Story image
Microsoft
Microsoft, Cloudian partnership offers data center flexibility
Cloudian’s HyperStore object storage platform is now integrated and validated to work with Microsoft SQ Server 2022, offering more flexible and scalable data centers.
Story image
MEC
MEC spending for private cellular networks to reach $5.8b
A new ABI Research report finds the revenue for Multi Access Edge Compute (MEC) deployments for private cellular networks will reach USD$5.8 billion by 2030.
Story image
Kubernetes
Sysdig unveils new Kubernetes troubleshooting and cloud innovations
Sysdig has introduced two new innovations that look to help bolster cloud services and simplify Kubernetes troubleshooting.
Exabeam
Find out how a behavioural analytics-driven approach can transform security operations with the new Exabeam commissioned Forrester study.
Link image
Story image
Artificial Intelligence
Frost & Sullivan recognises Genesys as leader in new reports
Frost & Sullivan has recognised Genesys as a leader in the cloud contact centre market for its robust cloud and digital capabilities.
Story image
Silver Peak
The path to an adaptive, modern network
Managing and securing the network looks different than it did just two years ago—especially given that most of these networks are made up of multi-generations of infrastructure stitched together over time.
Story image
Cybersecurity
Comcast to use ThreatQuotient for cybersecurity operations
Comcast, the parent company of NBC Universal and SKY Group, has chosen ThreatQ Platform and ThreatQ Investigations to meet their cybersecurity needs.
Story image
Multi Cloud
Red Hat updates dev tools, empowers use of hybrid and multicloud
Red Hat has unveiled updates across its portfolio of developer tools, designed to help organisations build and deliver applications faster.
Story image
Cybersecurity
Cybersecurity prompts upgrade for 1.3 billion electricity meters
ABI Research finds Advanced Metering Infrastructure (AMI) and cybersecurity concerns are prompting the upgrade of 1.3 billion electricity meters by 2027.
Story image
CrescoData
SPS network now available to CrescoData eCommerce customers
CrescoData, a Pitney Bowes Company and PaaS business in the commerce space, says its customers can now connect to the SPS Commerce Retail Network.
Story image
Cyber attacks
Devastating cyber attacks expected to hit energy sector
Energy executives anticipate life, property, and environment-compromising cyber attacks on the sector within the next two years.
Darktrace
Threat actors are exploiting weaknesses in interconnected IT/OT ecosystems. Darktrace illuminates your entire business and takes targeted action to stop emerging attacks.
Link image
Story image
Sustainability
Aligned Data Centers increases sustainability-linked loan
Aligned Data Centers has increased its sustainability-linked loan from $375 million to $1.75 billion to speed up the next phase of its strategic growth.
Story image
Red Sift
Entrust expands strategic partnership with Red Sift
Entrust has expanded its strategic partnership with Red Sift to make it easier for businesses to adopt Brand Indicators for Message Identification (BIMI) standards for email identification and security.
Story image
Manhattan Associates
Shortening the click-to-customer cycle through smart technologies
Speed of delivery without accuracy is a dealbreaker for consumers. How can retailers operating in an omnichannel environment overcome the challenge of click-to-customer cycle times.
Story image
Managed service provider
Barracuda MSP Day 2022 highlights MSP opportunities
Barracuda Networks has released a report showing global services-related MSP revenue is set to increase by more than a third in 2022 compared to 2021.
Story image
Check Point
Check Point and CCTV expert join forces to boost protection
The partnership will involve Check Point Quantum IoT Protect Nano Agent being embedded in Provision-ISR’s CCTV cameras for on-device runtime protection.
Story image
Data Center
Preventing downtime costs and damage with Distributed Infrastructure Management
Distributed Infrastructure Management (DIM) can often be a lifeline for many enterprises that work with highly critical ICT infrastructure and power sources.
Story image
Digital Transformation
Digital transformation increasing business complexities
A new survey suggests businesses must re-examine their digital transformation approach to better help employees adapt to change.
Story image
GapMaps
GapMaps Live to improve brand decisions on physical locations
GapMaps has released its latest service GapMaps Live, giving more insights and features to help brands make better decisions about physical locations.
Story image
Digital Transformation
Harnessing digital innovations to maximise loyalty programmes and improve CX
When it comes to the retail sector, merchants have never had access to so many different client touchpoints and data to understand their customers better.
Story image
Rackspace
Skills shortages hold orgs back from capitalising on cloud 2.0
Organisations are becoming more comfortable with sophisticated 'cloud 2.0' technologies, even as they confront difficulties in hiring and retaining IT talent.
Story image
Training
Infosec unveils role-guided cybersecurity training roadmaps
Infosec Skills Roles maps hands-on training and certifications to the 12 most in-demand cybersecurity roles to maximise training efficiency.
Story image
Surveillance
i-PRO releases smallest AI-based surveillance camera on the market
The new i-PRO mini network camera is now available, with a pocket-sized form factor and full AI analytics functionality.
Story image
New Relic
New Relic launches vulnerability management platform
New Relic has introduced New Relic Vulnerability Management to help organisations find and address security risks faster and with greater precision.
Story image
DaaS
NetApp launches Spot PC, a new Desktop-as-a-Service solution
This is a new managed cloud DaaS solution with security, automation, observability and optimisation capabilities, designed for the needs of today.