Machine Learning, Blockchain, and Analytics Advancements Unlock Opportunity and Personalize Experiences to Help Improve Productivity
SINGAPORE – Media OutReach – 16 October 2019 – 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.
- Workday People Experience utilizes machine learning to
curate unique experiences for every user. This surfaces insights to a person at
the right time, providing everything from guidance in career development and
personalized content, to answers to HR and payroll questions via Workday’s
digital assistant and HR case creation and management–for more complex
requests. By predicting what people want and giving them quick access to what
they need, Workday People Experience helps make work more personal and
productive. Additionally, its extensibility enables people to seamlessly access
information, tasks, and answers from any third-party source or application.
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:
- Skills insights, a new feature for Workday Human Capital
Management (HCM) customers, enables HR managers to easily determine what skills
they have and what gaps exist within their organization. For example, a
customer service HR business partner could leverage a real-time and dynamic skills
footprint to better understand what people in their company have the right
skills to support a new service offering. - Talent Marketplace provides a talent mobility
platform that enables organizations to find and borrow talent, and enables workers
to identify growth opportunities based on skills-matching for projects, gigs,
and opportunities. For
example, an employee interested in new career experiences could receive notice
of an opportunity to support a six-month product launch in another
department–based on her skills. Creating more awareness for internal mobility
and opportunity leads to greater employee engagement, contribution, and value,
and leveraging internal talent could expedite the project to more rapidly
achieve results. Talent Marketplace will
support internal gigs at launch, with future plans to incorporate internal job
transfers and connect to external talent communities.
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:
- Workday People Analytics is a new application that uses powerful
augmented analytics technology to give business leaders a view into the most
critical business trends in their organization coupled with an understanding of
what is most likely driving those trends–all delivered in story form. For
example, a chief human resources officer could view a story that shows a
promotion gap in the U.S. female population and how that’s trending over time.
This granular insight tells him or her if the plans and strategies HR leaders
have put into place around diversity in leadership are working. - Discovery Boards, a drag-and-drop data discovery capability
originally available as part of Workday Prism Analytics, will be available to
Workday HCM customers as part of their subscription. These enable users to
quickly visualize data to understand their people and financials, detect
patterns, and discover insights. For example, HR leaders could use discovery
boards to uncover trends in open headcount, and slice and dice by location and cost
center. Through iterative visual analysis, they could see trends that show how areas of the business are
growing, and where potential skills gaps may exist.
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:
- Workday Credentials and WayTo™ by Workday are new blockchain-powered
credentialing technologies that will remove the friction associated with
issuing, managing, and verifying credentials. Workday announced the beta
release of the technology this week, and launched testing of the WayTo™ by
Workday mobile app with Workday Rising attendees.
o Workday Credentials will
enable enterprise customers to quickly issue, manage and verify credentials for
all types of workers and individuals–employees, contractors, students, and
partners, helping to streamline credential verification and compliance.
o The WayTo™ by Workday mobile
app will give individuals a better way to store, manage, and share their verified
credentials as well as professional and personal information on their device.
This means that individuals can decide exactly what and with whom to share
information about themselves to expedite application processes. For instance, a
hospital could onboard a nurse in days instead of weeks by verifying their
identity, healthcare credentials, and work experience all within Workday.
- Plan to execute, a new workforce planning capability available
to customers using Adaptive Insights
Business Planning Cloud and Workday HCM, is a key step in the journey to unify Adaptive
Insights with Workday. With this deeper unification,
once headcount budgets are approved, new positions are automatically created in
Workday for a
more seamless transition from planning to execution.
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.”
Additional Information
- See how Workday is
innovating for the changing world of HR. - Read the blog “How Workday People Experience Gives You an Advantage in the
Changing World of Work” by
Stuart Bowness, vice president, software engineering, tools and technology,
Workday. - “What’s New in Workday Analytics: A Q&A With Pete Schlampp” by Workday Staff Writers.
- See how Workday is
helping organizations get ahead, and stay ahead, in the changing world of IT. - “Our Vision to Digitize Credentials in the New
World of Work” by Jon Ruggiero,
senior vice president, Workday. - Read the blog “Machine Learning Across Workday Products: Delivering Undeniable
Business Value to Customers” by
Sayan Chakraborty, senior vice president, tools and technology, Workday.
Availability
All products and
features are available or planned for availability in the next calendar year.
About Workday
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.
Forward-Looking
Statements
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.
©
2019. 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.
