Workday’s Analytics, Integration Help U.S. Firms Excel

Rhea-AI Summary

The 2024 ISG Provider Lens™ Workday Ecosystem report for the U.S. reveals that enterprises are increasingly leveraging service providers to maximize the benefits of Workday's cloud-based HCM platform. Key findings include:

1. Workday's recent enhancements, such as AI-enabled analytics and improved security, are important for digital transformations.

2. Employee experience (EX) is a major driver for Workday adoption, with its user-friendly interface and mobile capabilities.

3. U.S. companies are focusing on interoperability between Workday and third-party platforms for streamlined operations.

4. Intelligent automation and AI integration are gaining momentum in HR functions.

5. The report evaluates 28 providers across three service quadrants, naming several as Leaders in various categories.

Positive

• Growing adoption of Workday's cloud-based HCM platform by U.S. enterprises
• Recent enhancements to Workday include AI-enabled advanced analytics and stronger security
• Increased focus on employee experience (EX) driving Workday adoption
• Growing trend towards interoperability between Workday and third-party platforms
• U.S. firms leveraging Workday Extend for custom applications
• Increasing adoption of intelligent automation and AI in HR functions

Negative

• None.

Insights

Human Resources Technology Analyst

Workday's expanding toolset and integration capabilities are driving significant improvements in U.S. enterprise operations. Key trends include:

• Enhanced employee experience (EX) through personalized dashboards and self-service HR functions, boosting engagement and retention
• Increased interoperability with third-party platforms, streamlining core business functions
• Custom application development via Workday Extend, addressing unique operational needs
• Intelligent automation and AI integration, reducing costs and improving accuracy in HR processes

These advancements position Workday as a critical enabler of digital transformation, offering flexible, scalable and cost-efficient solutions for HR and financial management. The trend towards automation and AI integration is particularly strong in the U.S., driven by an innovation-friendly culture and regulatory environment.

For investors, this signals positive growth potential for Workday and its ecosystem partners, as U.S. enterprises increasingly rely on these solutions to navigate complex business environments and drive operational efficiencies.

Market Research Analyst

The ISG Provider Lens™ report highlights a robust Workday ecosystem in the U.S., with 28 providers evaluated across three service quadrants. Key market insights include:

• Strong demand for transformation, deployment, integration and optimization services
• Consolidation through mergers, acquisitions and partnerships among providers
• Increasing need for data migration tools and frameworks

The report identifies 8 Leaders across all three quadrants, indicating a mature and competitive market. This diversity of strong providers suggests a healthy ecosystem that can support widespread Workday adoption and innovation.

For Information Services Group (ISG), this report demonstrates their expertise and market position in technology research and advisory services. It reinforces ISG's value to investors as a source of critical market intelligence in the rapidly evolving enterprise software and services sector.

The U.S. market's leading role in Workday adoption and innovation suggests potential for continued growth and investment opportunities in this sector.

Enterprises seek provider support to improve operations using Workday’s expanding toolset and interoperability, ISG Provider Lens™ report says

STAMFORD, Conn.--(BUSINESS WIRE)-- A growing number of enterprises in the U.S. are working closely with service providers to get more out of the Workday cloud-based human capital management (HCM) platform, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The 2024 ISG Provider Lens™ Workday Ecosystem report for the U.S. finds that cloud-based HR and financial management solutions like Workday are enabling digital transformations that make enterprises’ technology foundations more flexible, scalable and cost-efficient. Recent enhancements to Workday, including AI-enabled advanced analytics, machine learning and stronger security, are critical to these transformations.

“Workday helps U.S. enterprises navigate an increasingly complex business environment,” said Stacey Cadigan, partner, ISG Human Capital Management and Enterprise Transformation. “Its ecosystem partners deliver the support they need to implement and optimize Workday solutions.”

A sharp focus on employee experience (EX) is one trend driving U.S. adoption of Workday, the report says. Many companies see Workday’s user interface and mobile capabilities, including personalized dashboards and options for self-service HR functions, as tools to boost engagement and worker satisfaction. Improved EX, in turn, can help employers increase productivity and better retain talent.

A growing number of companies, especially in the U.S., seek interoperability between Workday and third-party platforms for core functions such as decision-making, financial management and forecasting, ISG says. Interoperability lets employees access multiple applications without leaving Workday, streamlining many tasks.

U.S. firms are also taking advantage of Workday Extend, a component that lets enterprises build custom applications to fill unique operational needs, the report says. Developed in conjunction with system integrators and consulting firms, these applications smoothly integrate with Workday and extend its functionality.

Enterprises in the U.S. are also at the forefront of the global trend toward intelligent automation, usually enabled by AI, ISG says. With the help of Workday ecosystem partners, they are carefully automating some HR functions to reduce human effort, reduce costs and improve accuracy. Companies and providers are also beginning to build tools with generative AI (GenAI), while providers are determining how best to integrate the technology with their solutions and address security concerns.

“There is a strong, consistent trend in the U.S. of embracing more automation,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “In an innovation-friendly culture and regulatory environment, it continues to gain momentum.”

The report also explores other trends affecting the Workday ecosystem in the U.S., including increased mergers, acquisitions and partnerships among providers and strong demand for data migration tools and frameworks.

For more insights into Workday-related challenges faced by U.S. enterprises, including change management during HR transformations and the difficulty of customizing some Workday workflows, along with ISG’s advice for addressing these issues, see the ISG Provider Lens™ Focal Points briefing here.

The 2024 ISG Provider Lens™ Workday Ecosystem report for the U.S. evaluates the capabilities of 28 providers across three quadrants: Transformation Services, Deployment and Integration Services and Performance and Optimization Services.

The report names Accenture, Cognizant, Deloitte, Huron, Invisors, PwC, Strada (formerly Alight) and TopBloc as Leaders in all three quadrants. It names Hexaware and KPMG as Leaders in two quadrants each and IBM, Kainos and Mercer as Leaders in one quadrant each.

In addition, CrossVue and Skillcentrix are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.

In the area of customer experience, Invisors is named the global ISG CX Star Performer for 2024 among Workday Ecosystem providers. Invisors earned the highest customer satisfaction scores in ISG's Voice of the Customer survey, part of the ISG Star of Excellence™ program, the premier quality recognition for the technology and business services industry.

Customized versions of the report are available from Topbloc and Invisors.

The 2024 ISG Provider Lens™ Workday Ecosystem report for the U.S. is available to subscribers or for one-time purchase on this webpage.

About ISG Provider Lens™ Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Mexico, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including AI, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,600 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241008809942/en/

Press:

Will Thoretz, ISG

+1 203 517 3119

will.thoretz@isg-one.com

Julianna Sheridan, Matter Communications for ISG

+1 978 518 4520

isg@matternow.com

Source: Information Services Group, Inc.

FAQ

What are the key trends driving Workday adoption in the U.S. according to the ISG report?

The key trends driving Workday adoption in the U.S. include a focus on employee experience (EX), demand for interoperability with third-party platforms, use of Workday Extend for custom applications, and increasing adoption of intelligent automation and AI in HR functions.

How is AI impacting Workday's ecosystem according to the ISG Provider Lens™ report?

AI is impacting Workday's ecosystem through AI-enabled advanced analytics, machine learning integration, and the growing trend of intelligent automation in HR functions. Companies and providers are also beginning to build tools with generative AI (GenAI), while addressing associated security concerns.

Which companies were named Leaders in all three quadrants of the ISG Provider Lens™ Workday Ecosystem report for the U.S.?

The companies named Leaders in all three quadrants (Transformation Services, Deployment and Integration Services, and Performance and Optimization Services) are Accenture, Cognizant, Deloitte, Huron, Invisors, PwC, Strada (formerly Alight), and TopBloc.

What is the significance of Workday for U.S. enterprises according to ISG (Nasdaq: III)?

According to ISG (Nasdaq: III), Workday helps U.S. enterprises navigate an increasingly complex business environment by enabling digital transformations that make enterprises' technology foundations more flexible, scalable, and cost-efficient.