Workday and Equifax Announce Strategic Partnership to Modernize Employment and Income Verification Process
Workday (NASDAQ: WDAY) and Equifax (NYSE: EFX) have announced a strategic partnership to modernize the employment and income verification process. The collaboration will integrate Workday Payroll with Equifax's The Work Number® service, enabling faster and more efficient verifications for Workday customers' employees. This partnership aims to streamline operations, reduce costs, and improve the employee experience by simplifying the process for securing loans and government benefits.
The new Employment Verification Connector For Equifax is expected to be available to all U.S. Payroll customers in 2025, provided at no additional cost. This integration will allow for seamless, instant verifications, supporting employees in important life events such as buying their first home or applying for auto loans.
Workday (NASDAQ: WDAY) ed Equifax (NYSE: EFX) hanno annunciato una partnership strategica per modernizzare il processo di verifica del lavoro e del reddito. La collaborazione integrerà Workday Payroll con il servizio The Work Number® di Equifax, consentendo verifiche più rapide ed efficienti per i dipendenti dei clienti Workday. Questa partnership mira a snellire le operazioni, ridurre i costi e migliorare l'esperienza dei dipendenti semplificando il processo per ottenere prestiti e benefici governativi.
Il nuovo Connector per la Verifica dell'Impiego per Equifax sarà disponibile per tutti i clienti di Payroll negli Stati Uniti nel 2025, fornito a nessun costo aggiuntivo. Questa integrazione consentirà verifiche immediatamente fluide, supportando i dipendenti in eventi importanti della vita come l'acquisto della prima casa o la richiesta di prestiti auto.
Workday (NASDAQ: WDAY) y Equifax (NYSE: EFX) han anunciado una asociación estratégica para modernizar el proceso de verificación de empleo e ingreso. La colaboración integrará Workday Payroll con el servicio The Work Number® de Equifax, lo que permitirá verificaciones más rápidas y eficientes para los empleados de los clientes de Workday. Esta asociación tiene como objetivo agilizar las operaciones, reducir costos y mejorar la experiencia de los empleados al simplificar el proceso para obtener préstamos y beneficios gubernamentales.
El nuevo Conector de Verificación de Empleo para Equifax se espera que esté disponible para todos los clientes de Payroll en EE. UU. en 2025, sin costo adicional. Esta integración permitirá verificaciones instantáneas y fluidas, apoyando a los empleados en eventos importantes de la vida, como la compra de su primera casa o la solicitud de préstamos para automóviles.
워크데이(NASDAQ: WDAY)와 에퀴팩스(NYSE: EFX)는 고용 및 소득 확인 프로세스를 현대화하기 위한 전략적 파트너십을 발표했습니다. 이 협력은 워크데이 급여 시스템과 에퀴팩스의 The Work Number® 서비스를 통합하여 워크데이 고객의 직원들에 대한 더 빠르고 효율적인 확인을 가능하게 합니다. 이 파트너십은 운영을 간소화하고 비용을 줄이며 대출 및 정부 혜택을 확보하는 과정을 단순화하여 직원 경험을 개선하는 것을 목표로 합니다.
새로운 에퀴팩스를 위한 고용 확인 커넥터는 2025년까지 모든 미국 급여 고객에게 제공될 예정이며, 추가 비용 없이 제공됩니다. 이 통합은 즉각적이고 원활한 확인을 가능하게 하여 직원들이 첫 집을 사거나 자동차 대출을 신청하는 등 중요한 삶의 이벤트를 지원합니다.
Workday (NASDAQ: WDAY) et Equifax (NYSE: EFX) ont annoncé un partenariat stratégique pour moderniser le processus de vérification de l'emploi et des revenus. La collaboration intégrera Workday Payroll avec le service The Work Number® d'Equifax, permettant des vérifications plus rapides et plus efficaces pour les employés des clients de Workday. Ce partenariat vise à simplifier les opérations, réduire les coûts et améliorer l'expérience des employés en simplifiant le processus d'accès aux prêts et aux aides gouvernementales.
Le nouveau Connecteur de Vérification d'Emploi pour Equifax devrait être disponible pour tous les clients de la paie aux États-Unis en 2025, sans coût supplémentaire. Cette intégration permettra des vérifications instantanées et fluides, soutenant les employés lors d'événements de vie importants tels que l'achat de leur première maison ou la demande de prêts auto.
Workday (NASDAQ: WDAY) und Equifax (NYSE: EFX) haben eine strategische Partnerschaft zur Modernisierung des Prozesses zur Überprüfung von Beschäftigung und Einkommen angekündigt. Die Zusammenarbeit wird Workday Payroll mit dem Dienst The Work Number® von Equifax integrieren, was schnellere und effizientere Prüfungen für die Mitarbeiter von Workday-Kunden ermöglicht. Diese Partnerschaft zielt darauf ab, Prozesse zu optimieren, Kosten zu senken und das Mitarbeitererlebnis zu verbessern, indem der Prozess zur Sicherung von Krediten und staatlichen Leistungen vereinfacht wird.
Der neue Beschäftigungsüberprüfungsconnector für Equifax wird voraussichtlich 2025 für alle US-Payroll-Kunden verfügbar sein, ohne zusätzliche Kosten. Diese Integration ermöglicht nahtlose, sofortige Überprüfungen und unterstützt Mitarbeiter bei wichtigen Lebensereignissen wie dem Kauf ihres ersten Hauses oder der Beantragung von Autokrediten.
- Strategic partnership with Equifax to modernize employment and income verification process
- Integration expected to streamline operations and reduce costs for Workday customers
- Improved employee experience through faster and more efficient verification process
- New Employment Verification Connector For Equifax to be provided at no additional cost to customers
- None.
Insights
This strategic partnership between Workday and Equifax represents a significant advancement in HR technology and data integration. The new Employment Verification Connector will streamline the often cumbersome process of employment and income verification, potentially saving companies substantial time and resources.
The integration leverages Workday's robust payroll data with Equifax's The Work Number service, creating a seamless verification system. This could be a game-changer for HR departments, reducing manual workload and potential errors. For employees, the instant verification process could expedite major life events like home purchases or loan applications.
However, the 2025 availability means the market impact won't be immediate. Investors should monitor adoption rates and any potential data security concerns as this integration rolls out.
While specific financial figures aren't provided, this partnership has potential long-term benefits for both Workday and Equifax. For Workday, offering this integration at no additional cost could enhance customer retention and potentially attract new clients, particularly in the competitive HR software market.
Equifax stands to gain by expanding its data network through access to Workday's extensive customer base. This could lead to increased revenue from The Work Number service, although the exact financial impact remains to be seen.
Investors should note that the partnership's full effect won't materialize until 2025. It's important to monitor future earnings reports for any mention of increased customer acquisition or retention rates attributed to this integration. The partnership's success could potentially influence both companies' market valuations in the long run.
Workday's Employment Verification Connector For Equifax Will Help Workday Customers Verify Employment and Income Details Faster and More Efficiently, Streamlining Operations and Reducing Costs
"Through this partnership with Equifax we are meeting the moment for our customers and their employees by making the employment and income verification process faster and more efficient," said Matthew Brandt, senior vice president, global partners, Workday. "This partnership improves the employee experience by simplifying and speeding up the process by which they secure loans and government benefits, which frees up HR teams to focus on more meaningful work such as employee performance and wellbeing."
By integrating Workday Payroll and The Work Number® employment and income verification service from Equifax, Workday customers will be able to offer their employees seamless, instant verifications in support of their most important life events such as buying their first home. The power of the Equifax credentialing process, combined with the rigorous security and reliability of the Workday platform, will also help Workday customers significantly streamline operations and reduce costs by automating the verification process – saving time with every verification inquiry while supporting employees across a broad spectrum of individual needs.
"This new partnership with Workday directly supports our Equifax purpose: to help people live their financial best," said Joe Muchnick, senior vice president, alliances, Equifax Workforce Solutions. "Through this integration, Workday customers will be able to provide their employees with the instant verifications that are often a necessary step as they pursue important life events like applying for a home mortgage, an auto loan or government benefits."
Workday's new opt-in Employment Verification Connector For Equifax integration is expected to be available to all
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 Equifax
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in
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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/workday-and-equifax-announce-strategic-partnership-to-modernize-employment-and-income-verification-process-302228996.html
SOURCE Workday Inc.
FAQ
When will Workday's Employment Verification Connector For Equifax be available to U.S. Payroll customers?
How will the Workday and Equifax partnership benefit employees of Workday customers?
Will there be an additional cost for Workday customers to use the new Employment Verification Connector For Equifax?
What are the main benefits of the Workday (WDAY) and Equifax partnership for businesses?
