Founded in 2005, Workday (NYSE:WDAY) is the brainchild of Aneel Bhusri and Dave Duffield. The California-based company was conceived with the goal to “revolutionize the enterprise software market.” Today, the firm provides cloud-based solutions to manage finance and HR operations from a single window, and caters to medium-sized and large enterprises. The cloud-based attribute promotes mobility and allows Workday’s solutions to be accessed without any geographical restrictions. Their solutions are highly flexible and are designed to comply with new regulations or with a shift of workforce.
The firm follows a subscription-based business model and its enterprise solutions are specifically designed to meet the different needs of medium and large enterprise.
For large enterprises, the solutions are built to assist businesses work more efficiently, embrace change, and accelerate growth
For medium enterprises, Workday’s solutions emphasize on “gaining visibility, ensuring value, and achieving growth.” Workday’s single window for viewing finance and HR data enables effective, informed decision-making. The flexibility and scalability of the firm’s solutions ensure that its products’ capabilities match the growth of its clients. Financial management, payroll, and human capital management comprise the company’s enterprise solutions suite for medium enterprise.
For large enterprises, the solutions are built to assist businesses work more efficiently, embrace change, and accelerate growth. Workday continuously updates its solutions and tools every six months to ensure clients adapt to the changing business environments. The various products for large enterprises include finance performance management, human capital management, prism analytics, professional services automation, and student services.
Within a decade, the firm has worked its way up to be a prominent player in the enterprise solutions market space. In October 2012, Workday announced its initial public offering (IPO) on New York Stock Exchange. In terms of the near-future, the company’s “Workday Next” initiative showcases the firm’s technological advancement and investments. Workday Next aims at leveraging advanced technologies and innovative ideas to revolutionize the present day business proceedings.