PLEASANTON, CA--(Marketwired - Jun 22, 2017) - Workday, Inc. (NYSE: 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 first-ever Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises1. Workday was recognized as a leader based on its ability to execute and completeness of vision.
Recognizing that the focus and needs of finance organizations were shifting, Workday set out to rethink financial management systems with a technology foundation built for change. The company's cloud-based finance system, Workday Financial Management, enables global organizations to access deeper insights on their business; report in real time on financial performance; keep pace with business and regulatory changes such as ASC 606 or IFRS15; and drive greater efficiencies and controls, including an 'always-on' audit trail.
In the last three years, Workday's financial management customer community has tripled in size, with organizations including Aon, plc., Cushman & Wakefield, and Netflix, realizing the power of a cloud-based finance system. Workday has also invested in extending the benefits of its finance system with the addition of new products including Workday Planning, the first planning, budgeting, and forecasting application that allows customers to continuously and collaboratively plan within their core accounting system of record. In addition, Workday recently unveiled Workday Financial Performance Management, which provides the flexibility to consolidate, close, report, and plan without having to replace a company's general ledger.
Comments on the News
"We believe Gartner's recognition of Workday as a cloud financial management leader further validates our delivery of a truly differentiated product that gives customers the finance tools they need to lead with certainty and drive competitive advantage," said Betsy Bland, vice president, financial management products, Workday. "From day one, Workday disrupted the industry with a relentless focus on customer satisfaction. This commitment, in combination with our true cloud foundation, enables us to stay ahead of customers' needs so they can navigate an increasingly complex financial environment while continuing to grow their business globally."
- Read a complimentary copy of the Gartner report on the Workday website.
- Please visit the Workday blog for additional perspective by Betsy Bland, vice president, financial management products, Workday: Workday Positioned as a Leader in Gartner Magic Quadrant for Cloud Core Financial Management Suites.
- Read how and why Workday's technology foundation matters for finance teams: Finance and the Tech Foundation.
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.
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
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-K for the fiscal year ended June 1, 2017 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.
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1 Gartner "Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises," by Nigel Rayner, Robert P. Anderson, John E. Van Decker, 19, June, 2017
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