PLEASANTON, CA--(Marketwire - December 15, 2008) - Workday, Inc., the leader in on-demand
enterprise solutions for human resources and business management, today
announced two major new capabilities:
Pay for Performance and
Worker
Spend Management. The new services, included in Workday Update 6,
continue to extend Workday's global system-of-record for Human Capital
Management (HCM), providing a master data repository for organizations'
people, compensation, worker costs and business results. The company also
announced its U.S.
Payroll solution is
now generally available.
Workday Company Update
Workday continues to grow, with 68 customers spanning mid-sized businesses
to the Fortune 500. Close to 40 are in production, and all Workday
customers are using the latest update.
Workday now has more than 320 employees and recently
opened a new headquarters
facility in Pleasanton, Calif. to accommodate long-term growth.
A recent
Gartner
survey showed Software-as-a-Service solutions continue to grow as an
alternative to aging on-premise systems, with 9 out of 10 respondents
indicating plans to maintain or grow their use of SaaS solutions. Key
drivers cited included the lower total cost of ownership of SaaS and unmet
performance expectations with on-premise solutions.
New in Workday Update 6
Workday continues to expand its HCM system-of-record to provide vital
worker information to the business: who works here, what is the cost and
what is the business impact? Specifically:
-- Providing a global system-of-record (master data repository) for
organization, worker and compensation information,
-- Capturing and managing the spend on, by and for workers and
-- Linking business results and costs back to worker activity and
performance.
Workday is delivering two new services with Update 6: Worker Spend
Management and Pay for Performance. These capabilities support the
day-to-day activities of the manager and employee, placing the focus on
business results while effectively capturing the information required to
support HR operational needs.
-- Worker Spend Management:
Expenses,
Procurement and
Resource Management have historically been financial functions aimed at
tracking and controlling enterprise spending. Tying spending activity and
behavior to individual positions, people, workgroups, teams and business
purpose has been impossible without expensive analytic solutions or manual
spreadsheets. Workday's system-of-record means spending activity is
automatically tied to workers and can be linked to projects or activities
via Worktags, so managers and business leaders have a complete view of
total worker cost including both compensation and the resources used to get
work done.
-- Pay for Performance: Traditional Talent Management offerings have
evolved as add-ons to legacy HRMS systems, creating new silos of
information and an incomplete view of worker performance. Workday ties
performance reviews, team performance and company performance to
compensation, providing managers with recommended targets based on a broad
range of configurable variables and business results. Decision and
assessment support includes target vs. actual reporting and actionable
analytics, enabling organizations and managers to achieve true
performance-based rewards.
Workday Payroll for the U.S. is generally available with Update 6. First
customers will be going live on Payroll in January 2009.
-- Workday
Payroll delivers
complete payroll processing coupled with Workday's Human Capital Management
and Financial Management solutions. Built on an entirely new model, the
system leverages a global calculation engine and payroll framework,
allowing Workday to localize payroll for regions and countries without the
expensive redevelopment efforts associated with traditional on-premise
systems. Workday also delivers packaged integrations to outsourced payroll
providers.
Also included in Workday's Update 6 is a significant expansion of the
Workday
Benefits Network, a set of pre-packaged integrations with popular
benefits carriers. The Benefits Network now includes connections to 49
providers, with plans for 21 more by the end of this month.
Workday is now translated for 4 countries. Localization of HR personal
information for close to 50 countries will be available in Workday Update 7
in Q1 2009.
Comments on the News
"Workday is focused on a global system-of-record for managing people and
business because it lets us do some unique things, such as managing all
types of spend associated with the worker or basing compensation on both
individual performance and business results," said Mark Nittler, vice
president of application strategy for Workday. "These common-sense
approaches have either been impossible or at best extremely expensive with
prior-generation solutions, requiring best-of-breed offerings, big
integration projects or re-implementation. Workday capabilities are all
part of a single global core, so taking advantage of them is seamless for
our customers."
"In today's economy, pay for performance and spend management are urgent
issues on the minds of HR and business leaders," said Josh Bersin,
president and CEO of Bersin & Associates, a leader in talent management and
enterprise learning research. "By providing a single platform that unifies
HR, financial management, payroll, and talent management, Workday gives
organizations a comprehensive view of worker performance and worker spend,
all in the context of business results. That approach can go a long way to
helping companies both reduce expenses and optimize compensation to drive
business performance."
About Workday
Workday is the leader in on-demand enterprise solutions for human resources
and business management, with more than 60 customers spanning from
mid-sized to Fortune 500 businesses. Built on a completely new model,
Workday Human Capital Management and Workday Business Management use the
most modern, standards-based technologies to provide an unparalleled level
of agility, ease-of-use, and integration capability, offering customers
significantly lower total cost of ownership than on-premise solutions. For
more information about Workday, please visit
www.workday.com.
© 2008. Workday, Inc. All rights reserved. Workday and the Workday logo
are registered trademarks of Workday, Inc. Workday Enterprise Business
Services, Workday Human Capital Management, Workday Business Management,
Workday Financial Management, Workday Resource Management and Workday
Revenue Management are all trademarks of Workday, Inc. All other brand and
product names are trademarks or registered trademarks of their respective
holders.
Contact Information: Media Contact Information
Andrew McCarthy
Workday
(925) 951-9137
