Workday VNDLY Named a Leader in Everest Group's Vendor Management Systems (VMS) PEAK Matrix® Assessment 2024

Rhea-AI Summary

Workday announced on May 22, 2024, that Workday VNDLY has been named a Leader and Star Performer in Everest Group's Vendor Management Systems (VMS) PEAK Matrix Assessment 2024. This marks the fourth consecutive year as a Leader and the third year as both a Leader and Star Performer. Workday VNDLY assists organizations in planning, sourcing, and managing external labor, integrating seamlessly with Workday Human Capital Management (HCM) to provide comprehensive workforce visibility.

Key features include intuitive configurability, robust invoicing, and comprehensive reporting. According to Krishna Charan, VP at Everest Group, Workday VNDLY's strengths lie in its connectivity with Workday HCM, enhanced service procurement functionalities, and decision wizard capabilities.

Mariana Santiago, General Manager of Workday VNDLY, highlights the evolving definition of 'workforce,' emphasizing the increasing reliance on contingent labor and specialized vendors.

Positive

• Workday VNDLY named Leader and Star Performer in Everest Group's VMS PEAK Matrix Assessment 2024.
• Fourth consecutive year as a Leader, third year as both Leader and Star Performer.
• Enhanced connectivity with Workday HCM provides full labor cost visibility.
• Features like intuitive configurability, robust invoicing, and comprehensive reporting praised.
• Helps accelerate strategic decision-making through total workforce visibility.
• Supports local compliance rules for managing external labor.

Negative

• No negative business aspects identified in the PR.

Leadership Position Based on Market Impact and Vision, and Capabilities

PLEASANTON, Calif., May 22, 2024 /PRNewswire/ -- Workday, Inc. (NASDAQ: WDAY), a leading provider of solutions to help organizations manage their people and money, today announced that Workday VNDLY was named a Leader and Star Performer in Everest Group's Vendor Management Systems (VMS) PEAK Matrix® Assessment 2024. This is the fourth consecutive year that Workday VNDLY has been recognized as a Leader, and the third year it was named both a Leader and a Star Performer. A complimentary copy of the report is available here.

Workday VNDLY helps organizations plan, source, and optimize critical external skills to run the business. With Workday VNDLY, organizations access what they need for end-to-end contingent labor and statement of work (SOW) management – offering key capabilities from intuitive configurability, robust invoicing, comprehensive reporting, integration capabilities to connect the technology ecosystem, and more. With seamless connectivity between Workday VNDLY and Workday Human Capital Management (HCM), companies can adopt a total talent strategy by gaining visibility into their full labor costs to inform workforce and spend-related decisions.

"Workday VNDLY stands out against its peers with its deeper connectivity with Workday HCM, enhanced service procurement functionalities, reporting and analytics, and decision wizard capabilities," says Krishna Charan, vice president, Everest Group. "These factors have contributed to its continued traction and its positioning as a Leader and Star Performer in Everest Group's Global VMS PEAK Matrix 2024."

With Workday VNDLY, customers can:

• Combine Workday VNDLY and Workday HCM for total workforce visibility to accelerate strategic decision-making.
• Save time, effort, and cost with consolidated invoicing, streamlined approval processes, SOW payments, simplified time and expense entry, and more.
• Configure the VMS to meet their unique business requirements while supporting program owners with local compliance rules associated with managing external labor.

"The definition of 'workforce' is evolving, with many organizations becoming more reliant on contingent labor, SOW arrangements, and specialized vendors to get work done," said Mariana Santiago, general manager, Workday VNDLY. "As a strategic part of our total talent and workforce management offering, Workday VNDLY is helping to transform contingent labor programs through configurability, an intuitive interface, and our focus on innovation."

For More Information

• Download a complimentary copy of the report here.
• Read the blog here.
• See the demonstration of Workday VNDLY here.

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 10,000 organizations around the world and across industries – from medium-sized businesses to more than 50% 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.

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SOURCE Workday Inc.

FAQ

Why was Workday VNDLY named a Leader in the VMS PEAK Matrix 2024?

Workday VNDLY was named a Leader due to its market impact, vision, enhanced connectivity with Workday HCM, and capabilities like intuitive configurability and robust invoicing.

What are the key features of Workday VNDLY mentioned in the PR?

Key features include intuitive configurability, robust invoicing, comprehensive reporting, and seamless integration with Workday HCM.

What benefits does Workday VNDLY offer to organizations?

Workday VNDLY helps organizations plan, source, and optimize external labor, providing end-to-end management for contingent labor and SOW.

How does Workday VNDLY integrate with Workday HCM?

It offers seamless connectivity, allowing organizations to gain full visibility into labor costs, aiding strategic workforce and spend-related decisions.

When did Workday announce Workday VNDLY's recognition in the VMS PEAK Matrix 2024?

Workday announced the recognition on May 22, 2024.