Workday Recognized as a Leader in 2024 Gartner® Magic Quadrant™ for Financial Planning Software for Third Year in a Row

Rhea-AI Summary

Workday (NASDAQ: WDAY) has been named a Leader in the 2024 Gartner Magic Quadrant for Financial Planning Software for the third consecutive year. The company's Adaptive Planning solution, enhanced with Workday Illuminate AI, helps financial planning teams deliver more comprehensive plans and forecasts.

The platform enables organizations to transform traditional budgeting with AI-driven enterprise planning, achieve greater agility through scenario analysis, and integrate with various third-party systems. More than 6,500 customers globally, including AWS, Capstone Logistics, and McLaren Racing, use Workday Adaptive Planning to improve their planning and analysis processes.

Customer reviews highlight successful technology transformation, improved efficiency, and enhanced decision-making capabilities through the platform's comprehensive data analysis features.

PLEASANTON, Calif., Nov. 20, 2024 /PRNewswire/ -- Workday, Inc. (NASDAQ: WDAY), a leading provider of solutions to help organizations manage their people and money, has been positioned by Gartner, Inc. as a Leader in the 2024 Gartner Magic Quadrant for Financial Planning Software¹ for the third consecutive year. A complimentary copy of the report is available here.

Workday helps financial planning and analysis (FP&A) teams deliver more frequent and comprehensive plans and forecasts. With Workday Illuminate™, the next generation of Workday AI, FP&A teams can accelerate common tasks, generate AI-assisted scenarios, and improve cross-functional participation in the planning process, enabling faster insights and agile decision making in an ever-changing environment. More than 6,500 customers across the globe including AWS, Capstone Logistics, CNA Financial, KeyBank, and McLaren Racing selected Workday Adaptive Planning to make planning and analysis more accurate and efficient.

"Workday improves budgeting, planning, and modeling scenarios with AI-driven insights so FP&A leaders can elevate their impact and make strategic decisions faster," said Chris Wada, general manager, planning, Workday. "We believe this recognition as a Leader for the third consecutive year reaffirms our commitment to delivering the modern, innovative financial planning solutions customers demand to proactively anticipate change, analyze multiple scenarios on the fly, and drive efficiency."

Continuous Planning to Power Better, More Informed Decisions
Workday Adaptive Planning helps organizations overcome static and disconnected planning, data silos, and time-consuming manual processes with the flexibility and scalability required to keep pace with the evolving business landscape.

With Workday, organizations can:

• Transform traditional budgeting and forecasting with AI-driven enterprise planning. As organizations push to expand markets, launch new products, and fuel growth, FP&A teams are in greater need to free up time for strategic analysis by automating company-wide collaborative planning. With Workday, FP&A leaders can streamline manual processes, create predictive forecasts from historical data patterns, and surface anomalies.
• Achieve greater agility. With business leaders seeking continuously updated company-wide plans to remain agile, FP&A professionals can't afford to be stuck in an endless cycle of collecting, aggregating, aligning, and trouble-shooting. Workday provides the adaptability required for FP&A teams to create and analyze unlimited scenarios to support continually evolving business requirements.
• Integrate with any third-party system of record. Effective planning demands vast amounts of data—from within and outside the company. Workday integrates financial and operational data across ERP, CRM, marketing and HR systems, and data warehouses to support consistent, accurate financial and operational processes. Customers with Workday Human Capital Management (HCM) and Workday Financial Management further benefit from the native dimensionality that results in better plans, deeper insights, and faster execution.

Driving Value Across the Business with Strong Customer Satisfaction
Gartner® Peer Insights™ documents customer experience through verified ratings and peer reviews. As of November 1, 2024, Workday Adaptive Planning reviews include the following:

• "Workday Adaptive Planning has been the most successful technology-driven process transformation we have ever implemented. It gave us a step-change in how we plan and enabled us to significantly reduce the time and effort spent to prepare and consolidate various plans." – Vice President, Finance, Planning And Op in the energy and utilities industry [read full review]
• "Absolutely Mandatory In Today's Competitive Market! Workday Adaptive [Planning] is not only a budgeting tool for your company, but it also allows you to slice your data in numerous different ways. This is crucial when you are in a complex industry but need to present the data to business leaders in a very simple way to allow them to make meaningful decisions." – Finance Manager in the retail industry [read full review]
• "Huge upgrade to financial planning processes. This product has made our financial planning process much more efficient by taking many steps out of the process, while maintaining integrity in a complex financial model." – Director of Finance in the travel and hospitality industry [read full review]

For More Information

• Download a complimentary copy of the report, 2024 Gartner® Magic Quadrant™ for Financial Planning Software.
• Read the blog, Workday Named a Leader in the 2024 Gartner^® Magic Quadrant™ for Financial Planning Software for Third Year in a Row.
• Learn why Workday was recognized as a 2024 Customers' Choice for Financial Planning Software by Gartner® Peer Insights™² earlier this year.

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.

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.

© 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.

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.

¹ Gartner Magic Quadrant for Financial Planning Software, Regina Crowder, Vaughan Archer, Matthew Mowrey, Michelle Carlsen, 18 November 2024

² Gartner, Voice of the Customer for Financial Planning Software, By Peer Contributors, 24 May 2024

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/workday-recognized-as-a-leader-in-2024-gartner-magic-quadrant-for-financial-planning-software-for-third-year-in-a-row-302311781.html

SOURCE Workday Inc.

FAQ

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

Workday was positioned as a Leader in the 2024 Gartner Magic Quadrant for Financial Planning Software for the third consecutive year.

How many customers use Workday Adaptive Planning in 2024?

More than 6,500 customers globally use Workday Adaptive Planning, including notable companies like AWS, Capstone Logistics, CNA Financial, KeyBank, and McLaren Racing.

What AI capabilities does Workday (WDAY) offer in its financial planning software?

Workday Illuminate, their next-generation AI, helps accelerate common tasks, generate AI-assisted scenarios, and improve cross-functional participation in the planning process.

What integration capabilities does Workday Adaptive Planning offer?

Workday Adaptive Planning integrates financial and operational data across ERP, CRM, marketing and HR systems, and data warehouses, with enhanced integration for Workday HCM and Financial Management users.