Workday Announces New Innovations to Support Customers in the Changing World of Work
Workday (NASDAQ: WDAY) announced new innovations aimed at assisting customers in adapting to a changing work environment during the Workday Rising conference on Sept. 13, 2022. Key innovations focus on enhancing the finance office with machine learning capabilities, creating personalized employee experiences to boost engagement, and establishing a more open ecosystem for industry-specific solutions. The company emphasizes the role of technology in driving digital transformation and addressing employee burnout risks, as reported in a recent Workday study.
- Introduced new machine learning capabilities enhancing finance operations.
- Emphasized employee experience innovations to reduce burnout risk and increase engagement.
- Announced plans for a new Industry Accelerator program targeting healthcare and technology sectors.
- None.
Helping Customers to Adapt With More Personalized Experiences, a More Open and Connected Ecosystem, and Insights to Drive Digital Transformation Efforts
PLEASANTON, Calif. and ORLANDO, Fla., Sept. 13, 2022 /PRNewswire/ -- Workday, Inc. (NASDAQ: WDAY), a leader in enterprise cloud applications for finance and human resources, today announced at Workday Rising, the company's annual customer conference, a range of new innovations and initiatives designed to help support customers in the changing world of work. These include new capabilities to help elevate the office of finance, ways to create more personalized employee experiences, and establishing a more open and connected Workday to help companies adapt and thrive in today's dynamic environment.
According to a recent McKinsey Global Survey on digital strategy and investments, nine in 10 C-level and senior leaders say their organizations have pursued at least one large-scale digital transformation in the past two years. This underscores the importance of technology in helping organizations meet the rapidly evolving needs of their workforce and business.
"Whether it's planning for the unknown, supporting employees in new working models, or embracing technologies that deliver the insights needed to drive the business forward, our customers have navigated an immense amount of change over the last few years and technology has played a critical role in enabling them to adapt," said Pete Schlampp, chief strategy officer, Workday. "With customer service as a core value, our focus has and will always be on supporting our customers through innovation to meet their needs today and in the future."
Helping to Elevate the Office of Finance
Finance teams are being tasked with delivering more strategic insights and scaling to meet business requirements. To help them deliver on these needs, Workday is unveiling new innovations to help elevate the office of finance. These include new machine learning capabilities to help create a more frictionless finance experience, increased performance and scalability to support company-wide planning, and deeper insights into the supply chain to support environmental, social, and governance (ESG) initiatives. Read more here.
Supporting More Personalized Employee Experiences to Help Drive Engagement
Employees who feel heard and supported are more engaged and productive, which is why organizations need to prioritize experiences that help employees feel a sense of connection and opportunity.
According to a new Workday report, Addressing Burnout Risk in 2022, the scale of higher burnout risk has increased since 2021 across many frontline industries, highlighting the need for employers to pay greater attention to the needs of their employees and take action to support them.
To help support customers with creating more personalized experiences, Workday announced new innovations to help them gain richer insight into the skills of their workforce with a more open and connected skills ecosystem so that they can make more informed talent decisions and deliver meaningful employee experiences. Read more here.
Establishing a More Open, Connected, and Co-Innovative Workday to Support Evolving Needs
Customers' requirements are unique to their industry and growth strategies, highlighting the need for industry-specific solutions that help enable faster time to value and the ability to bring in innovation from external partners to help drive success. To further expand its ecosystem and enable swift innovation and open collaboration, Workday announced its plans for:
- A vision for transforming Workday's partner ecosystem that embraces a more open and connected approach to help create faster time to value for customers through more innovation, joint go-to-market strategies, and an expanded services network. Read more here.
- A new Industry Accelerator program to help speed cloud transformation efforts, initially for healthcare, banking, insurance, and technology companies, combines Workday partners, solutions, and services. Read more here.
- New technology and user experience (UX) innovations aimed at helping its customer community quickly adapt to meet ever-changing business and employee needs, including planned low-code/no-code app development functionality in Workday Extend and intuitive UX capabilities that help make work effortless for every type of user. Read more here.
For More Information
- Follow the Workday Rising conversation on Twitter: #wdayrising, https://twitter.com/Workday, and https://twitter.com/WorkdayEvents.
- Check out the Workday Rising official website: http://www.workdayrising.com/.
About Workday
Workday is a leading provider of enterprise cloud applications for finance and human resources, helping customers adapt and thrive in a changing world. Workday applications for financial management, human resources, planning, spend management, and analytics have been adopted by thousands of organizations around the world and across industries — from medium-sized businesses to more than
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 Form 10-Q for the fiscal quarter ended July 31, 2022, and our future reports that we may 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.
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.
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