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PLEASANTON, Calif. and ORLANDO, Fla., Oct. 15, 2019 (GLOBE NEWSWIRE) -- Workday Inc. (NASDAQ: WDAY), a leader in enterprise cloud applications for finance and human resources, today announced a series of new innovations to help customers better navigate the changing world of HR.
At Workday Rising, the company’s annual customer conference, Workday underscored how organizations can reimagine their businesses with new applications including Workday People Experience, Workday People Analytics, Workday Credentials, and more. With a technology architecture based on the Power of One—one source for data, one security model, one user experience, and one community—Workday is uniquely suited to deliver insights that help drive more strategic decision-making and improve employee engagement.
Workday customers, which include 40 percent of the Fortune 500 and 50 percent of Fortune 50 companies, are better equipped to plan, execute, analyze, and extend—all in one system powered by machine learning, and backed by Workday’s unwavering commitment to customer service. Leveraging newer technologies including machine learning, blockchain, and advanced analytics, Workday helps organizations achieve greater productivity.
Innovations for the Changing World of HR
HR leaders are under more pressure than ever to effectively manage and develop their people as they encounter a new world where technology is reshaping every job, alternative work arrangements are becoming the norm, and speed of agility is key to survival. Driven by customer demand, Workday has made significant and unique investments to build solutions that support a multi-faceted workforce, new ways of working, and a distributed workplace.
With new advancements announced at Workday Rising, customers are able to:
Personalize and Elevate Employee Experiences
People are overwhelmed with more tools than they know what to do with—and employers are relying on static portals that push them into various systems to find information or complete tasks. Workday has set out to create an experience that is personalized for each user, to help people feel more informed, agile, and truly supported.
Meet Evolving Talent Demands and Unlock Opportunity
Skills have emerged as a critical data source for fueling the talent lifecycle, prompting Workday to build a core Skills Graph foundation using machine learning to map relationships between more than 200,000 skills. With this foundation, Workday created the skills cloud to link skills to people and then connect them to jobs, opportunities, projects, and much more, enabling new solutions such as:
Make Faster, Smarter People Decisions
Data science, once available to only a few, is now democratized and being applied to all aspects of HR. But most organizations’ efforts to be more data-driven still run into challenges around fragmented data, data literacy, lack of specialized resources, and stringent data privacy and governance requirements. Utilizing one source for data, Workday can help customers make more fact-based decisions with the following advancements:
Automate and Digitize Time-Consuming Processes
Organizations are constantly seeking out tools that improve operational efficiencies in order to drive productivity. Workday aims to streamline and automate time-consuming manual processes across HR, enabling people to focus their time on more strategic efforts with the following solutions and capabilities:
Comment on the News
“Today’s organizations need new ways to engage and inspire a fluid workforce that brings its consumer technology expectations to the workplace,” said David Somers, vice president and general manager, Talent Optimization, Workday. “Workday is infusing new technologies such as machine learning, blockchain, and advanced analytics into every inch of our solutions. This enables us to surface meaningful insights, create greater efficiencies, and deliver a more intelligent experience that is unmatched by other vendors—for the broader benefit of our customers, their employees, and their bottom line.”
All products and features are available or planned for availability in the next calendar year.
Workday is a leading provider of enterprise cloud applications for finance and human resources. Founded in 2005, Workday delivers financial management, human capital management, planning, and analytics applications designed for the world’s largest companies, educational institutions, and government agencies. Organizations ranging from medium-sized businesses to Fortune 50 enterprises have selected Workday.
This press release contains forward-looking statements including, among other things, statements regarding the expected performance and benefits of Workday’s offerings. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “seek,” “plan,” “project,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these 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 year ended July 31, 2019 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, Inc. services should make their purchase decisions based upon services, features, and functions that are currently available.
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