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@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
Workday (NASDAQ:WDAY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Workday (NASDAQ:WDAY)
Historical Stock Chart
From Apr 2023 to Apr 2024