Workday Named a Leader in Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises

PLEASANTON, Calif., June 05, 2018 (GLOBE NEWSWIRE) -- Workday, Inc. (NASDAQ:WDAY), a leader in enterprise cloud applications for finance and human resources, today announced it has been positioned by Gartner, Inc. in the Leaders quadrant of the Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises ¹.Workday was acknowledged as a Leader for the second year in a row and positioned furthest to the right for completeness of vision overall.  

With the demands on finance organizations growing and business leaders increasingly leaning on them to help drive growth, finance leaders need technology systems that enable them to manage risk, identify new opportunities, and keep pace with change. To support its global customers, Workday has continued to expand the depth and breadth of its cloud-based finance system, Workday Financial Management - and in combination with Workday Prism Analytics, Workday Benchmarking, and Workday Planning - is delivering functionality and continued vision that are essential to empowering the future finance function, including:

• More Intelligent Automation: Workday is continuing to invest in making its financial applications more intelligent with machine learning capabilities to help automate key financial tasks so more time can be spent on value-add projects. For example, using Workday's customer collections dashboard, a revenue manager can use predictive analytics to determine the likelihood of an invoice being paid on time; or using optical character recognition, an employee can scan receipts using a mobile phone and automatically add items to expense reports. 
   
• More Intelligent Insights: Workday is investing in advanced financial analytics to provide customers with greater insights. For instance, Workday Prism Analytics will enable a financial planning analyst at a retailer to drill into reports that combine finance data from Workday with data from a point-of-sale system to quickly analyze profitability by store, region, or product line. In addition, Workday's first data-as-a-service offering, Workday Benchmarking, includes metrics on profit margin percentage and return on invested capital, to help customers better connect workforce metrics to financial success and strategic business goals.
   
• More Intelligent User Experiences: With a focus on creating seamless experiences, Workday is investing in making interactions as easy and collaborative as possible. For example, in Workday Planning, users can comment and respond to questions and updates from other planning participants in real time, directly within a Worksheet, a collaborative spreadsheet built directly into the core of Workday's technology platform. Customers will also be able to interact with Workday through a conversational user interface that enables end users to collaborate and ask questions around specific tasks and flows.

             
Comment on the News
"We believe Gartner's recognition of Workday as a Leader in cloud financial management, including our positioning furthest to the right for completeness of vision overall, demonstrates the continuous innovation we deliver to finance teams around the world who are driving their businesses forward with Workday," said Betsy Bland, vice president, financial management corporate strategy, Workday. "With the increasing pace and demands of business, finance teams require a trusted technology partner that puts the customer at the center. And Workday does just that with a relentless focus on providing customers with the insights, experience, and agility to meet their present and future finance needs."

Additional Information

• Read a complimentary copy of the Gartner report on the Workday website.
• Please visit the Workday blog for additional perspective: Workday Named a Leader in Gartner Magic Quadrant for Cloud Core Financial Management Suites for Second Year in a Row by Betsy Bland, vice president, financial management corporate strategy, Workday.
• Watch an inside look at how Workday Financial Management is different from the competition: An Inside Look at How Workday Financial Management Is Different.

¹ Gartner "Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises," by John E. Van Decker | Robert P. Anderson | Mike Guay, 29 May 2018.

Required Disclaimer:
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Workday
Workday is a leading provider of enterprise cloud applications for finance and human resources. Founded in 2005, Workday delivers financial management, human capital management, and analytics applications designed for the world's largest companies, educational institutions, and government agencies. 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 April 30, 2018 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.

© 2018. Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc.

Media Contact
Nina Oestlien
Workday
+1 (415) 828-3034
Nina.Oestlien@Workday.com