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, Inc. (NASDAQ: WDAY) announced its sponsorship of Grace Hopper Celebration 2024 (GHC), the world's largest gathering of women and nonbinary technologists. The event will take place from October 8-11, both virtually and in-person in Philadelphia. Workday will send 50 delegates and five speakers to participate in innovation sessions, demonstrating its commitment to empowering women and nonbinary technologists.
As part of its sponsorship, Workday will host the AI/ML and Cloud Computing Reception on October 9. The company's representatives will participate in various sessions, including discussions on AI product development, data analytics, accessibility in tech spaces, and strategic impact with OKRs and KPIs. Kathy Pham, Vice President of AI at Workday, emphasized the company's dedication to fostering a more inclusive tech industry.
Evisort, a leader in AI-native contract intelligence and contract lifecycle management (CLM), has become one of the first companies globally to achieve ISO 42001 accredited certification for responsible AI development and use. This certification, audited by Schellman, reinforces Evisort's commitment to providing reliable, scalable, and ethical AI solutions for contract analysis.
The ISO/IEC 42001 certification sets standards for ethical AI development and deployment, ensuring transparency, accountability, and alignment with ethical principles. Evisort's certification covers its role as both an AI 'producer' and 'provider', scrutinizing aspects such as AI training methodologies, data governance, human oversight, and third-party risk management.
This achievement adds to Evisort's existing certifications in information security (ISO 27001) and privacy (ISO 27701), as well as its annual SOC 2 Type 2 examinations. The company also recently developed the first large language model specifically for contracts. On September 17, 2024, Workday, Inc. (NASDAQ: WDAY) announced its intention to acquire Evisort.
The Josh Bersin Company, a leading human capital advisory firm, has announced a partnership with Workday (NASDAQ: WDAY) to integrate their AI-powered expert assistant, Galileo™, with Workday Human Capital Management (HCM). This integration, announced at Workday Rising, aims to provide Workday users with access to current HR best practices, advice, and assistance.
Powered by Sana AI, Galileo will offer HR benchmarking, use cases, skills models, and employment policies to address various HR issues. The tool is designed to benefit both HR professionals and other Workday users, helping them maximize the potential of their Workday infrastructure. This collaboration is seen as an advancement in AI for HR, combining three leading tools: Galileo, Workday HCM, and Sana's learning technology.
Workday (NASDAQ: WDAY) has announced Workday Wellness, an AI-powered solution set to launch in early 2025. This innovative platform will provide companies with real-time insights into employee benefits preferences and usage. Key features include:
1. AI-driven recommendations to improve benefits programs
2. Real-time data exchange between employers and wellness partners
3. Integration with Workday Illuminate and Workday Peakon Employee Voice for sentiment analysis
4. Comprehensive view of all benefits programs with alerts for underused offerings
The solution aims to help companies create more personalized wellness experiences, potentially leading to healthier, happier, and more engaged employees. Workday Wellness will be available to early adopter customers of Workday HCM in early 2025.
Workday (NASDAQ: WDAY) has launched 12 new Industry Accelerators to help customers modernize their HR and finance operations. These offerings combine Workday's solutions with industry expertise and pre-built offerings from global partners to address sector-specific challenges. The accelerators cover industries such as banking, healthcare, higher education, professional services, retail and hospitality, and technology and media.
Key features include improving academic recruitment, driving project efficiencies, addressing staffing shortages, and optimizing financial processes. Partners involved in the program include Accenture, CrossVue, Deloitte, Invisors, Kainos, KPMG, Mercer, and PwC. This launch follows Workday's recent expansion of its partner ecosystem, including the introduction of Global Payroll Connect and the Built on Workday program.
Workday Ventures, the strategic capital arm of Workday, Inc. (NASDAQ: WDAY), has announced continued AI momentum with 10 new investments since early 2023. These investments focus on AI innovations to help organizations advance and are part of Workday's commitment to elevating humans and enhancing work efficiency.
The investments target two main areas:
- Accelerating the Future of Work: Investments in companies like Censia, Glean, Nayya, Sana, TechWolf, and Uplimit aim to drive productivity and improve decision-making in workforce management.
- Simplifying Business Processes: Investments in Benepass, Oro Labs, Tesorio, and Vanta focus on streamlining operations and enhancing efficiency.
Many of these portfolio companies are expanding customer access to new technologies through the Built on Workday program and Workday AI Marketplace.
Workday, Inc. (NASDAQ: WDAY) has announced Workday Illuminate™, its next-generation AI solution. Built on the world's largest HR and finance dataset, Illuminate aims to accelerate manual tasks, assist employees, and transform business processes. Key features include:
1. Generative AI for content creation and task streamlining
2. Real-time AI assistance with Workday Assistant
3. AI orchestration for business process transformation
4. Integration with partner AI innovations through Workday AI Gateway
Illuminate processes over 800 billion business transactions annually, offering context-aware insights for precise decision-making. The platform is designed to drive productivity gains and cost savings while allowing employees to focus on strategic work.
Workday (NASDAQ: WDAY) has unveiled a reimagined AI-powered user experience, including a new Workday Assistant designed to streamline HR and finance processes. The AI companion aims to boost employee productivity by providing quick answers to queries and offering personalized insights. Key features include:
1. AI-powered search for natural language questions
2. Guided experiences for complex tasks
3. Integrations with Microsoft Teams, Slack, and Microsoft 365 Copilot
4. Unified view of enterprise apps
The new Workday Assistant is currently with early adopters and will be generally available in early 2025. AI-enhanced search will be available in late September 2024, while integrations with Slack AI and Microsoft 365 Copilot are planned for early 2025.
Workday (NASDAQ: WDAY) has unveiled four new AI agents to transform HR and finance processes: Recruiter, Expenses, Succession, and Workday Optimize. These agents, powered by Workday Illuminate, aim to streamline common business workflows and increase productivity. The Recruiter Agent, building on HiredScore capabilities, automates hiring tasks and has shown a 25% increase in recruiter capacity. The Expenses Agent virtually eliminates manual expense reporting, while the Succession Agent transforms succession planning into a continuous AI-powered process. Workday Optimize identifies inefficiencies in business processes.
These innovations represent Workday's push towards end-to-end business process transformation using AI. The company is also building integrated agent capabilities with partners like Salesforce and Microsoft. Expenses, Succession, and Optimize Agents are expected to be available in Early Access in 2025, while the Recruiter Agent is available now in HiredScore with further Workday integration planned for spring 2025.
Workday (NASDAQ: WDAY) has announced a definitive agreement to acquire Evisort, a leading AI-native document intelligence platform. This acquisition aims to enhance Workday's finance and HR suite with AI-powered document intelligence solutions. Evisort's technology will enable Workday customers to extract valuable insights from unstructured data in contracts, invoices, and policy documents.
Key benefits of the acquisition include:
- Improved data accuracy and extraction
- Automated document processing and stakeholder alignment
- Enhanced decision-making capabilities
The transaction is expected to close in Q3 of Workday's fiscal year 2025, subject to customary closing conditions.
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