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 Global Payroll Connect, a unified solution to manage global payroll needs. This system integrates with Workday's partner ecosystem to provide an end-to-end global payroll experience within the Workday platform. Key features include:
- Pre-built API integrations that can reduce implementation costs by up to 50%
- Single point of access for payroll processing status across global workforce
- Streamlined experience for managing workforce data, absence, time tracking, benefits, and compensation
- Ability to consolidate multiple payroll systems into one platform
Global Payroll Connect aims to address challenges faced by organizations managing multiple payroll systems, offering improved efficiency, cost reduction, and enhanced employee experiences. The solution will be available to Workday customers and partners in October 2024.
Workday (NASDAQ: WDAY) and Strada have announced the global availability of Workday Payroll provided by Strada, an AI-powered global HR and payroll solution now available in 57 countries. This unified solution offers organizations a comprehensive view of their finance, HR, and payroll data, enhancing data accuracy, compliance support, and strategic decision-making.
Key features include:
- AI-driven analysis of HR and payroll data for predictive insights
- Customizable payroll services per country
- Global employee self-service access within Workday
Additionally, Workday introduced Global Payroll Connect, a unified solution that integrates with payroll providers via pre-built APIs, set to launch in October 2024.
Global consulting firm Protiviti has been named a Workday Services Partner by Workday, Inc. (NASDAQ: WDAY). This partnership enables Protiviti to collaborate with Workday in managing customers' workforce programs and implementing technology-enabled business transformations. Protiviti will offer a full range of services to help design, configure, implement, and maintain the Workday platform, driving efficiency, standardization, and cost savings for clients.
The partnership leverages Protiviti's expertise in technology and business transformation, allowing them to provide access to best-in-class resources for security, controls, and change management. Protiviti's capabilities are further enhanced by its access to specialized talent through its parent company, Robert Half Inc.
Lincoln Financial Group (NYSE: LNC) has been named a Workday Innovation Partner, aiming to enhance benefits administration for joint customers. The partnership integrates Lincoln's LincSmart InsurTech solution with Workday Human Capital Management (HCM), offering features like:
- Real-time absence updates
- Simplified billing
- Enrollment optimization
- Streamlined evidence of insurability process
This collaboration addresses the growing demand for personalized, digital benefits experiences, with 90% of workers valuing such solutions. The partnership aligns with employer expectations, as 90% plan to increase or maintain reliance on third-party benefits technology in the next five years.
Workday (NASDAQ: WDAY) has announced its upcoming 2024 Financial Analyst Day, scheduled for Tuesday, September 17, 2024 in Las Vegas. The event will coincide with Workday Rising, the company's annual customer conference. Starting at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time, the Financial Analyst Day will be accessible via a live webcast on the Workday Investor Relations site. For those unable to attend or watch live, a replay of the webcast will remain available for at least 90 days following the conference call.
Workday, Inc. (NASDAQ: WDAY), a leading provider of solutions for managing people and finances, has announced the date for its fiscal 2025 second quarter financial results. The company will release its results after market close on Thursday, August 22, 2024. Following the release, Workday will host a conference call at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time to discuss the financial results and business outlook. Investors and interested parties can access a live webcast of the event on the Workday Investor Relations site. For those unable to attend live, a replay of the webcast will be available for at least 90 days after the conference call.
Workday (NASDAQ: WDAY) has announced significant AI enhancements to transform talent management. HiredScore AI for Recruiting and Talent Mobility are now available through Workday, offering AI-powered talent orchestration to improve productivity and hiring processes. Customers like AdventHealth and Southwest Airlines have reported substantial benefits, including faster hiring and increased internal applications.
Additionally, Workday introduced new AI capabilities in Workday Job Architecture, featuring an Intelligent Job Architecture Hub, market-trending skills suggestions, and generative AI for job profile creation. These innovations aim to help organizations build future-ready workforces, streamline job management, and accelerate skills-based talent strategies.
The new solutions are available to Workday Recruiting and Talent Optimization customers, with Job Architecture updates rolling out to Workday HCM customers this year.
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.
Salesforce (NYSE: CRM) and Workday (NASDAQ: WDAY) have announced a strategic partnership to launch an AI-powered employee service agent. This assistant, leveraging Salesforce's Agentforce Platform and Einstein AI, alongside Workday's platform and AI, will assist with tasks such as onboarding, health benefits, and career development.
The integration includes a shared data foundation combining HR and financial data from Workday with CRM data from Salesforce. Workday will also be integrated into Slack for streamlined employee collaboration.
This initiative aims to enhance productivity, reduce costs, and improve employee experiences by automating tasks and providing personalized support.
Amazon Web Services (AWS) and Workday have expanded their partnership to enhance generative AI solutions, streamline custom application development, and boost joint market initiatives. Leveraging AWS technologies like Amazon Bedrock and Amazon SageMaker, they aim to revolutionize workforce management and financial reporting. The collaboration will also increase native integrations with AWS to help developers create custom applications efficiently. Joint efforts will focus on enhancing customer experiences, increasing productivity, and complying with regional regulations. The partnership seeks to accelerate cloud transformation and provide innovative AI-driven solutions for global organizations.
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