Welcome to our dedicated page for Workday news (Ticker: WDAY), a resource for investors and traders seeking the latest updates and insights on Workday stock.
Workday, Inc. (NASDAQ: WDAY) is a pioneering provider of enterprise cloud applications specializing in financial management, human capital management (HCM), and analytics solutions. Founded in 2005 and headquartered in Pleasanton, California, Workday serves over 10,500 organizations globally, ranging from medium-sized businesses to more than 60% of the Fortune 500.
Core Offerings:
- Financial Management: Robust solutions for financial planning, consolidation, reporting, and analytics.
- Human Capital Management: Comprehensive tools for managing the entire employee lifecycle, including recruitment, talent management, and payroll.
- Business Planning: Adaptive planning tools that enable organizations to streamline processes and improve business outcomes.
Workday sets itself apart as a cloud-only software provider, embedding artificial intelligence (AI) and machine learning (ML) into its applications. This innovation helps customers adapt to the rapidly changing business landscape by optimizing their human resources and financial operations.
Recent achievements include the announcement of new AI innovations at Workday DevCon 2024, such as the Workday AI Gateway and AI Marketplace, which are designed to make it easier for developers and partners to build intelligent solutions on the Workday platform. Additionally, Workday's partnership with Google Cloud aims to integrate generative AI capabilities to enhance app development and business insights.
Financially, Workday continues to show strong performance. For fiscal year 2024, the company reported solid revenue growth and an increase in non-GAAP operating margins. CEO Carl Eschenbach highlighted the company's value proposition, growth of its partner ecosystem, and the strength of its international performance as key factors driving success.
With more than 18,000 employees, Workday is committed to continuous innovation and providing exceptional service to its clients. The company is also focused on strategic partnerships and acquisitions to drive future growth and enhance its product offerings.
Recent News Highlights:
- February 8, 2024: Workday announced its fiscal 2024 fourth quarter and full-year financial results, showcasing continued momentum and positive financial outlook.
- March 19, 2024: Launch of Workday Adaptive Planning and Consolidation to streamline data management and enhance financial reporting capabilities.
- May 23, 2024: Fiscal 2025 first quarter results indicated solid revenue growth and margin expansion, emphasizing the impact of generative AI and key growth initiatives.
- June 3, 2024: Announcement of new AI innovations and expanded Google Cloud partnership, enhancing the capabilities of Workday Extend and providing advanced AI tools for developers.
- June 5, 2024: Introduction of the Built on Workday program, enabling partners to create and monetize tailored finance and HCM apps.
Workday (NASDAQ: WDAY) has announced the formation of its AI Advisory Board, comprising distinguished academics to drive research and thought leadership on AI's impact in the workplace. The board will focus on important areas including workforce readiness, responsible AI implementation, and technology-driven societal changes.
The advisory board includes notable members: Toby Stuart (Chair) from UC Berkeley-Haas, Hamsa Sridhar Bastani from UPenn, Danielle Li and Sendhil Mullainathan from MIT, and Duncan Watts from UPenn. The initiative aims to advance responsible AI development in workplace settings and guide organizations through technological transformation.
Zuora (NYSE: ZUO) has announced a partnership agreement with Workday (NASDAQ: WDAY) to integrate its monetization suite with Workday Financial Management solutions. The certified Zuora Connector for Workday Financial Management aims to enhance financial process accuracy and eliminate manual integration of general ledger journal entries.
The integration addresses key market challenges, noting that less than one-third of enterprises have fully automated order-to-cash processes, and 54% of CFOs find legacy ERP systems insufficiently flexible. The partnership will enable organizations to streamline recurring billing processes, simplify ASC 606 compliance, automate revenue recognition, and maximize business agility through real-time customer and revenue data insights.
Workday (NASDAQ: WDAY) has released a global research report titled 'Elevating Human Potential: The AI Skills Revolution' that challenges the notion of AI replacing human workers. The study reveals that 93% of active AI users agree that AI enables them to focus on higher-level responsibilities like strategy and problem-solving.
Key findings show that active AI users are most optimistic about its benefits (4.23/5 score), while those planning to adopt AI within 12 months show lower optimism (3.89/5). 90% of workers believe AI can increase organizational transparency and accountability. However, a notable disconnect exists between employees (82%) and managers (65%) regarding the need for human connection in the AI era.
The research identifies ethical decision-making, relationship building, emotional intelligence, and conflict resolution as skills least likely to be replaced by AI. Currently, AI's top applications include data analysis (51%), fraud detection (43%), and HR/recruiting (39%).
Ramp announced its Design Approved Integration with Workday Financial Management (NASDAQ: WDAY), enabling automatic synchronization of Ramp corporate card data with Workday's financial platform. The integration aims to streamline accounting processes and expedite book closing through three key features:
- Real-time data syncing for immediate transaction updates
- Advanced accounting automations including AI-powered coding suggestions
- Enhanced security through direct integration without third-party connectors
The integration is already being utilized by hundreds of mutual customers, with Virgin Voyages reporting significant time savings in their reporting process. The partnership represents Ramp's continued efforts to automate CFO suite tasks, allowing finance teams to focus on strategic work rather than manual processes.
Workday (NASDAQ: WDAY) announced that Johns Hopkins has selected multiple Workday solutions to modernize its operations. The nonprofit organization will implement Workday Human Capital Management, Financial Management, Supply Chain Management for Healthcare, and Grants Management as part of its Sightline Business Modernization Program.
The implementation will replace Johns Hopkins' legacy enterprise resource planning (ERP) system with Workday's modern, cloud-based platform featuring AI capabilities. The new system will integrate finance, workforce, and operations data into a unified platform. The Sightline program aims to enhance data governance, improve data access and visualization, support compliance, and streamline processes across both the university and health system.
TPA technologies has announced a partnership agreement with Workday (NASDAQ: WDAY) to provide Workday-certified talent for organizations implementing the Workday platform. The company has expanded its team of Workday experts, led by Michael Wrightington, who brings 10 years of ecosystem expertise.
As a Workday Partner, TPA technologies will connect qualified professionals with organizations needing support for Workday Financial Management, Human Capital Management (HCM), and Adaptive Planning implementations. These solutions provide real-time operational visibility and adaptability for business growth.
The partnership aims to address the growing demand for Workday certified professionals, with TPA technologies leveraging its expertise in understanding technology challenges and talent acquisition to support client implementations.
DISA Global Solutions has achieved Workday Design Approved Integration status, enabling seamless integration of its employee screening and compliance solutions with Workday Human Capital Management (HCM). DISA, serving over 55,000 clients including 30% of Fortune 500 companies, will now provide its comprehensive screening services directly through the Workday platform.
The integration aims to enhance efficiency, accuracy, and reliability in HR and compliance processes for joint customers. According to Canal Brage Company's HR Director, the integration has already improved their operational efficiency and ability to conduct thorough background checks while providing real-time data insights.
CloudPay has achieved Platinum Partner status with Workday (NASDAQ: WDAY), marking a significant milestone in their decade-long partnership. As the first partner to achieve certification for Workday's Payroll Effective Change Interface (PECI) and implement Additional Payroll Data (APD) with live customers, CloudPay continues to lead in payroll innovation.
The company's platform integrates with Workday's HCM capabilities to provide unified, end-to-end payroll solutions for multinational organizations. CloudPay currently manages nearly 3,000 integrations across 130+ countries, leveraging advanced automation, AI, and API technologies to improve payroll accuracy and streamline workflows.
BetterUp has expanded its partnership with Workday (NASDAQ: WDAY) through integration with Workday Peakon Employee Voice, an AI-powered platform providing real-time employee sentiment insights. The integration aims to deploy coaching more effectively and measure transformation initiatives' impact by providing personalized coaching recommendations to managers based on improvement areas.
The partnership combines BetterUp's coaching platform, which leverages behavioral science, AI, and data analytics, with Workday's listening platform. BetterUp reports improving employee performance by 20% and retention by 60% on average. This integration joins BetterUp's existing partnerships with Salesforce, IBM, and Degreed.
Workday (NASDAQ: WDAY) has appointed Liz Centoni, Executive Vice President and Chief Customer Experience Officer at Cisco, to its Board of Directors. Centoni brings 24 years of experience at Cisco, where she led the company's $28 billion Splunk acquisition in 2024 and developed Cisco's responsible AI framework.
As a seasoned leader focused on leveraging technology for customer success, Centoni's appointment aligns with Workday's commitment to delivering exceptional customer experiences. She has held various senior engineering and strategy roles, advocates for equity in tech, and serves as Cisco's global executive sponsor for the Women in Science and Engineering program.
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