Kainos and Workday Expand Strategic Partnership to Bolster Co-Innovation and Provide Purpose-Built Apps to Customers via Built on Workday
Workday (NASDAQ: WDAY) and Kainos Group (KNOS) have expanded their strategic partnership to advance the development and distribution of purpose-built apps for Workday customers through Built on Workday. This program, launched in June 2024, allows partners to build, launch, and manage apps on the Workday platform.
The partnership will provide customers with direct access to Kainos' products: Smart Test, Smart Audit, and Employee Document Management. These products will be listed on Workday Marketplace, helping customers automate and scale their Workday operations. Workday's sales teams will be incentivized to introduce and co-sell Kainos Products across North America, Europe, and Asia Pacific.
Kainos expects this agreement to more than triple their ARR over the next six years. The collaboration aims to accelerate app development and distribution, helping joint customers recognize greater value from their Workday investment.
Workday (NASDAQ: WDAY) e Kainos Group (KNOS) hanno espanso la loro partnership strategica per promuovere lo sviluppo e la distribuzione di app specifiche per i clienti di Workday attraverso Built on Workday. Questo programma, lanciato a giugno 2024, consente ai partner di costruire, lanciare e gestire app sulla piattaforma Workday.
La partnership fornirà ai clienti accesso diretto ai prodotti di Kainos: Smart Test, Smart Audit e Employee Document Management. Questi prodotti saranno elencati nel Workday Marketplace, aiutando i clienti ad automatizzare e scalare le loro operazioni su Workday. I team di vendita di Workday saranno incentivati a introdurre e co-vendere i prodotti Kainos in Nord America, Europa e Asia-Pacifico.
Kainos si aspetta che questo accordo triplicherà più di tre volte il loro ARR nei prossimi sei anni. La collaborazione mira ad accelerare lo sviluppo e la distribuzione delle app, aiutando i clienti comuni a riconoscere un valore maggiore dal loro investimento in Workday.
Workday (NASDAQ: WDAY) y Kainos Group (KNOS) han expandido su asociación estratégica para avanzar en el desarrollo y distribución de aplicaciones diseñadas para los clientes de Workday a través de Built on Workday. Este programa, lanzado en junio de 2024, permite a los socios construir, lanzar y gestionar aplicaciones en la plataforma de Workday.
La asociación proporcionará a los clientes acceso directo a los productos de Kainos: Smart Test, Smart Audit y Employee Document Management. Estos productos estarán listados en el Workday Marketplace, ayudando a los clientes a automatizar y escalar sus operaciones en Workday. Los equipos de ventas de Workday estarán incentivados para introducir y co-vender los productos de Kainos en América del Norte, Europa y Asia-Pacífico.
Kainos espera que este acuerdo triplicará más de tres veces su ARR en los próximos seis años. La colaboración tiene como objetivo acelerar el desarrollo y la distribución de aplicaciones, ayudando a los clientes conjuntos a reconocer un mayor valor de su inversión en Workday.
Workday (NASDAQ: WDAY)와 Kainos Group (KNOS)은 전략적 파트너십을 확대하여 Workday 고객을 위한 맞춤형 앱의 개발과 배포를 향상시키기 위해 Built on Workday 프로그램을 통해 협력합니다. 이 프로그램은 2024년 6월에 시작되어 파트너가 Workday 플랫폼에서 애플리케이션을 구축하고 실행하며 관리할 수 있도록 합니다.
이 파트너십은 고객에게 Kainos의 제품인 Smart Test, Smart Audit, Employee Document Management에 직접 접근할 수 있는 기회를 제공합니다. 이러한 제품은 Workday Marketplace에 나열되어 고객이 Workday 운영을 자동화하고 확장하는 데 도움을 줍니다. Workday의 영업팀은 북미, 유럽, 아시아 태평양 지역에서 Kainos 제품을 소개하고 공동 판매하도록 장려됩니다.
Kainos는 이 계약이 향후 6년 동안 ARR을 3배 이상 증가시킬 것이라고 기대하고 있습니다. 협력은 앱 개발 및 배포를 가속화하여 공동 고객이 Workday 투자에서 더 큰 가치를 인식하도록 돕는 것을 목표로 합니다.
Workday (NASDAQ: WDAY) et Kainos Group (KNOS) ont élargi leur partenariat stratégique pour faire avancer le développement et la distribution d'applications conçues pour les clients de Workday via Built on Workday. Ce programme, lancé en juin 2024, permet aux partenaires de créer, lancer et gérer des applications sur la plateforme Workday.
Le partenariat fournira aux clients un accès direct aux produits de Kainos : Smart Test, Smart Audit et Employee Document Management. Ces produits seront répertoriés sur le Workday Marketplace, aidant les clients à automatiser et à étendre leurs opérations Workday. Les équipes de vente de Workday seront incitées à introduire et à co-vendre les produits Kainos en Amérique du Nord, en Europe et dans la région Asie-Pacifique.
Kainos s'attend à ce que cet accord multiplie plus que par trois leur ARR au cours des six prochaines années. La collaboration vise à accélérer le développement et la distribution des applications, aidant les clients communs à tirer une valeur accrue de leur investissement dans Workday.
Workday (NASDAQ: WDAY) und Kainos Group (KNOS) haben ihre strategische Partnerschaft erweitert, um die Entwicklung und den Vertrieb von maßgeschneiderten Apps für Workday-Kunden über Built on Workday voranzutreiben. Dieses Programm, das im Juni 2024 gestartet wurde, ermöglicht es Partnern, Apps auf der Workday-Plattform zu entwickeln, zu starten und zu verwalten.
Die Partnerschaft bietet den Kunden direkten Zugang zu Kainos' Produkten: Smart Test, Smart Audit und Employee Document Management. Diese Produkte werden im Workday Marketplace gelistet, um Kunden bei der Automatisierung und Skalierung ihrer Workday-Betriebe zu unterstützen. Die Vertriebsteams von Workday werden incentiviert, Kainos-Produkte in Nordamerika, Europa und im asiatisch-pazifischen Raum vorzustellen und gemeinsam zu verkaufen.
Kainos erwartet, dass dieses Abkommen das ARR in den nächsten sechs Jahren mehr als verdreifachen wird. Die Zusammenarbeit zielt darauf ab, die App-Entwicklung und -Verteilung zu beschleunigen und den gemeinsamen Kunden zu helfen, einen höheren Wert aus ihrer Workday-Investition zu ziehen.
- Expanded strategic partnership with Kainos to develop and distribute purpose-built apps
- Workday sales teams incentivized to co-sell Kainos products globally
- Potential for increased revenue through wider distribution of Kainos products
- Enhanced value proposition for Workday customers through access to Kainos' automation tools
- None.
Insights
This partnership expansion between Kainos and Workday marks a significant shift in the enterprise software landscape. The integration of Kainos' products into Workday's platform through the Built on Workday program represents a strategic move towards a more open and collaborative ecosystem in enterprise software.
The key implications of this partnership are:
- Enhanced product offerings: Kainos' Smart Test, Smart Audit and Employee Document Management tools will now be more readily available to Workday customers, potentially improving their operational efficiency.
- Accelerated innovation: The co-innovation aspect of this partnership could lead to faster development of solutions tailored to specific industry needs.
- Expanded market reach: Kainos stands to benefit from Workday's global sales network, potentially leading to significant revenue growth. The projection of more than tripling ARR over six years is ambitious but not unrealistic given the expanded distribution channels.
- Competitive advantage: This partnership could give both companies an edge in the highly competitive enterprise software market, especially against rivals like SAP and Oracle.
While the partnership looks promising, investors should monitor its execution, particularly how well Kainos' products integrate with Workday's platform and the actual adoption rates among Workday customers. The success of this venture could set a precedent for similar partnerships in the enterprise software industry.
This strategic partnership expansion has several financial implications worth noting:
- Revenue Growth Potential: Kainos' projection of more than tripling their Annual Recurring Revenue (ARR) over the next six years is significant. If achieved, this could translate to a compound annual growth rate (CAGR) of approximately
20% to25% , which is impressive for a mature software company. - Market Expansion: The partnership gives Kainos access to Workday's global customer base, potentially accelerating its international growth without the need for substantial additional sales and marketing investments.
- Operational Efficiency: For Workday, this partnership could enhance customer retention and potentially increase average revenue per user (ARPU) by offering more value-added services through Kainos' products.
- Competitive Positioning: This move strengthens both companies' positions in the enterprise software market, potentially leading to increased market share and improved pricing power.
However, investors should be cautious about a few aspects:
- Execution Risk: The success of this partnership depends on smooth integration and effective co-selling, which aren't guaranteed.
- Revenue Recognition: The structure of revenue sharing between Kainos and Workday isn't clear from the announcement, which could affect the financial impact on both companies.
- Dependency Risk: Kainos may become more dependent on Workday for its growth, which could be a concern if Workday's market position weakens in the future.
Overall, while the partnership presents significant growth opportunities, investors should closely monitor its execution and impact on both companies' financial performance in the coming quarters.
Unveiled by Workday in June 2024, Built on Workday enables Workday partners to easily build, launch, and centrally manage apps on the trusted Workday platform. This provides partners with opportunities to accelerate and scale their app development while addressing customers' evolving business, industry, and regional challenges.
Through this strategic partnership, customers will have direct and seamless access to Kainos' best-in-class products – Kainos Smart Test, Kainos Smart Audit, and Kainos Employee Document Management. Listed on Workday Marketplace, these Kainos products will help customers automate and scale their Workday operations and maintenance while maximizing use of the Workday platform. The partnership will enable Kainos to accelerate distribution of its products while reaching an expanded customer base. It will also see Workday's sales teams across
Malachy Smith, Workday Global Practice Leader at Kainos commented, "Over the past ten years we have developed and launched fantastic products that, alongside Workday, help our customers overcome their industry and business challenges. We are delighted to sign this transformative innovation agreement allowing us to co-sell our products with Workday. We believe this will more than triple our ARR over the next six years."
"This strategic expansion is an exciting step in our partnership with Kainos and underscores our companies' mutual dedication to customers, co-innovation, and the Built on Workday program," said Doug Robinson, co-president, Workday. "By collaborating to accelerate app development and distribution, we can help our joint customers recognize even greater value from their Workday investment, helping them keep pace in a changing world of work."
Kainos' innovative apps will now be listed and visible to Workday customers globally via Workday Marketplace, which features curated AI solutions that demonstrate adherence to the Workday Responsible AI Governance Framework.
About Workday
Workday is a leading enterprise platform that helps organizations manage their most important assets – their people and money. The Workday platform is built with AI at the core to help customers elevate people, supercharge work, and move their business forever forward. Workday is used by more than 10,500 organizations around the world and across industries – from medium-sized businesses to more than
© 2024 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.
About Kainos
At Kainos we use technology to solve real problems for our customers, overcome big challenges for businesses, and make people's lives easier. We build strong relationships with our customers and go beyond to change the way they work today and the impact they have tomorrow. Across three divisions, Digital Services, Workday Services, and Workday Products, we work globally with clients to make the world a little bit better, day by day. Our people are central to our success. We employ more than 2,900 people in 23 countries across
Forward-Looking Statements
This press release contains forward-looking statements including, among other things, statements regarding Workday's plans, beliefs, and expectations. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission ("SEC"), including our most recent report on Form 10-Q or Form 10-K and other reports that we have filed and will 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, except as required by law.
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 services should make their purchase decisions based upon services, features, and functions that are currently available.
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SOURCE Workday Inc.
FAQ
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