Workday Named a Leader in 2024 Gartner® Magic Quadrant™ for Cloud HCM Suites for 1,000+ Employee Enterprises for Ninth Consecutive Year

Rhea-AI Summary

Workday (NASDAQ: WDAY) has been named a Leader in the 2024 Gartner Magic Quadrant for Cloud HCM Suites for the ninth consecutive year, positioning highest for Ability to Execute. The company's HCM solution, currently used by over 5,525 organizations, is powered by Workday Illuminate™, their next-generation AI technology built on the world's largest HR and finance dataset. The platform enables organizations to transform work processes with AI, adopt comprehensive workforce strategies, and scale innovation through partnerships. Key features include AI-powered task acceleration, total workforce management integration through Workday VNDLY, and platform extensibility through partnerships with companies like Equifax, Kainos, and Salesforce.

Positive

• Named Leader in Gartner Magic Quadrant for 9th consecutive year with highest position for Ability to Execute
• Strong customer base with over 5,525 organizations using Workday HCM
• Strategic partnerships with major companies (Equifax, Kainos, Salesforce) expanding platform capabilities
• Launch of Workday Illuminate AI technology leveraging extensive HR and finance dataset

Negative

• None.

Insights

Market Research Analyst

The Gartner Magic Quadrant Leader position, particularly with highest placement for Ability to Execute, reinforces Workday's dominant market position in the enterprise HCM space. With over 5,525 organizations using their HCM solution, including major enterprises like FedEx and Hewlett Packard Enterprise, this validates their strong market penetration and enterprise-grade capabilities.

The integration of Workday Illuminate AI, built on their extensive HR and finance dataset, represents a significant competitive advantage in the rapidly evolving AI-driven enterprise software market. Their platform approach and expanding partner ecosystem (Equifax, Kainos, Salesforce) indicates strong potential for sustained revenue growth through both core product adoption and value-added services.

The continuous recognition for 9 consecutive years suggests stable market leadership and consistent product innovation, critical factors for enterprise software valuations. Their focus on total workforce management and AI-driven automation aligns well with current enterprise digital transformation trends.

PLEASANTON, Calif., Oct. 28, 2024 /PRNewswire/ -- Workday, Inc. (NASDAQ: WDAY), a leading provider of solutions to help organizations manage their people and money, has again been named a Leader in the Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises for the ninth consecutive year. Workday was also positioned highest for Ability to Execute. A complimentary copy of the report is available here.

Workday remains at the forefront of HR transformation with innovative solutions powered by Workday Illuminate™, the next generation of Workday AI. Built on the world's largest and cleanest HR and finance dataset, Illuminate accelerates common tasks, delivers AI assistance in the flow of work, and transforms business processes with AI orchestration. More than 5,525 organizations including Asda, FedEx, Hewlett Packard Enterprise, Korean Air, P.F. Chang's, Saab AB, and Sumitomo Drive Technologies EMEIA use Workday Human Capital Management (HCM) to manage their workforce, grow and develop talent, and deliver engaging and personalized employee experiences.

"For us, being recognized as a Leader for the ninth year in a row is an acknowledgment of our relentless focus on delivering innovative solutions that empower HR teams to navigate the complexities of recruiting, payroll, learning, talent optimization, workforce management, and more," said Aashna Kircher, group general manager for the office of the CHRO, Workday. "With Workday Illuminate and the growth of our partner ecosystem, we are further enabling our customers to streamline operations and deliver more connected and engaging employee experiences."

With the Workday suite of HR solutions, organizations can:

• Transform how work gets done with AI. With Illuminate, the next generation of Workday AI powered by the world's largest HR and finance dataset, customers can accelerate manual tasks like content creation and summarization, receive real-time AI assistance in their workflows, and transform entire business processes with AI orchestration. By anticipating and streamlining common business processes, Illuminate enables HR teams to focus on more strategic and meaningful work, driving productivity gains and cost savings for organizations.
• Adopt a total workforce strategy to build a more resilient, agile organization. Workday empowers organizations to develop a holistic approach to workforce management by providing tools to easily source, manage, and analyze all workers – full time, part time, and contingent workers like freelancers or contractors. Workday VNDLY integrates seamlessly with Workday HCM, streamlining processes from onboarding and offboarding to ensuring security protocols are applied consistently across all worker types. Whether organizations are looking to grow, flex, or hire, Workday facilitates skills-based talent strategies to drive agility and provide employees with growth opportunities using gigs, learning, and internal mobility.
• Leverage the Workday platform to scale innovation. Workday empowers organizations to configure their solutions and work with partners to meet industry-specific needs and tackle their unique business challenges. Recent partnerships with Equifax, Kainos, and Salesforce, and the global availability of Workday Payroll provided by Strada, demonstrate how partners and customers are extending the Workday platform to get even more value from their Workday investments. Whether through collaborative programs like Built on Workday or platform innovations like Workday Extend, Workday continues to offer the flexibility and adaptability that modern businesses require.

Driving Outcomes for Customers Through Innovation and Service
Gartner® Peer Insights™ documents customer experience through verified ratings and peer reviews. As of October 1, 2024, Workday HCM reviews include the following:

• "Workday's continued investment in the product has allowed us to continue to meet the ever-changing needs of our business and provided robust roadmaps to allow us to continue to plan for the future." – Director, Global HR Systems in the retail industry [read full review]
• "Implementing Workday HCM allowed us to bring multiple HR systems into a singular experience for our HR team, employees, and leaders. Now when supporting our workforce, we have one application that enables us to deliver talent, learning, recruitment, compensation, benefits and core HR capabilities in a single solution." – Associate Vice President of Management and Operations in the healthcare industry [read full review]
• "Workday HCM allows us the flexibility to customize our business processes in a way that allows us to serve our unique business needs." – Director of People Insights in the banking industry [read full review]

For More Information

• Read the blog, "Workday Recognized as a Leader in 2024 Gartner® Magic Quadrant™ for Cloud HCM Suites for 1,000+ Employee Enterprises," by Aashna Kircher, group general manager for the office of the CHRO, Workday.
• Read a complimentary copy of the Gartner report on the Workday website.

Gartner Disclaimer
Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.

GARTNER is a registered trademark and service mark, PEER INSIGHTS and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

Gartner, Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises, 23 October 2024, Ranadip Chandra, et. Al.

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 60% of the Fortune 500. For more information about Workday, visit workday.com.

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

What recognition did Workday (WDAY) receive in the 2024 Gartner Magic Quadrant?

Workday was named a Leader in the 2024 Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises for the ninth consecutive year and was positioned highest for Ability to Execute.

How many organizations use Workday's (WDAY) HCM solution in 2024?

More than 5,525 organizations use Workday Human Capital Management (HCM) to manage their workforce, including notable companies like Asda, FedEx, Hewlett Packard Enterprise, and Korean Air.

What is Workday Illuminate and how does it enhance WDAY's HCM platform?

Workday Illuminate is the next generation of Workday AI, built on the world's largest HR and finance dataset. It accelerates manual tasks, provides real-time AI assistance in workflows, and transforms business processes with AI orchestration.