Workday Named a Leader in Gartner Magic Quadrant for Cloud Financial Planning & Analysis Solutions

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Positioned as a Leader for Fourth Year in a Row Based on Completeness of Vision and Ability to Execute

 

SINGAPORE – Media OutReach – 12 October
2020 – Workday(NASDAQ:WDAY), a leader in
enterprise cloud applications for finance and human
resources,
today announced it has been positioned by Gartner, Inc. in the Leaders quadrant
of the 2020
Gartner Magic Quadrant for Cloud Financial
Planning & Analysis1 for the fourth year in
a row. 

Today’s business environment requires continuous planning
to adapt to ever-changing economic, health, and geopolitical impacts. As a
result, finance leaders are turning to Workday to help them model, forecast,
and analyze their business with a proven planning solution. Workday
Adaptive Planning delivers powerful modeling that’s easy to use,
allowing customers to embrace enterprise-wide planning for greater agility. To
date, it has been selected by more than 5,300 customers, including American
Family Insurance, Denny’s, IBM, Microsoft, and South Shore Health, to manage
their financial, sales, workforce, and/or operational planning in the cloud.   

Choice and Flexibility to Accelerate
Planning   

Workday is committed to delivering best-in-class enterprise
planning as both a standalone solution and as an integral part of the Workday
suite, accelerating the adoption of planning in companies of all sizes by
giving customers choice and flexibility for their digital finance
transformation. For customers choosing standalone planning, Workday Adaptive
Planning has proven integrations with hundreds of human capital management
(HCM), enterprise resource planning (ERP), and customer relationship management
(CRM) systems, as well as commercial and proprietary data warehouses. This
means that financial and operational data easily combine into a single source
for truth for company-wide planning.

For customers choosing Workday
Adaptive Planning as part of a larger finance transformation, Workday
offers a broad portfolio of finance applications serving the office of the CFO,
including Workday
Financial Management, Workday
Prism Analytics, Workday
Accounting Center, and solutions
for spend management. Together they deliver a deep and comprehensive system for
enterprise planning and analysis, record to report, contract to cash, and
source to pay, enabling customers to streamline financial processes and operate
with agility in today’s changing world.

Continuous Focus on Enterprise Planning
Innovation 

Workday is continually investing in enterprise planning to
support customers as they face unprecedented challenges in planning for an
uncertain future. Specific advances include:

  • Continuous
    product innovation.     Over the past
    year, new Workday Adaptive Planning product features and capabilities have
    focused on machine learning, visualization, and integration. With feature
    releases automatically delivered twice annually along with weekly updates,
    these innovations continue the flagship ease of use of Workday Adaptive
    Planning, while delivering even more sophisticated modeling capabilities and
    new levels of visibility into enterprise performance. Customers can now automatically detect errors in planning assumptions, interactively see
    changes in charts and graphs with data changes, and easily deliver plans
    across the organization with the click of a button    .
  • Enterprise
    scalability.     Workday Adaptive Planning continues
    to scale to support large enterprise customers for company-wide modeling and
    planning. The solution’s in-memory engine supports virtually unlimited
    dimensions, ideal for customers with demanding, global operations, particularly
    in the current climate when detailed planning for a broad range of scenarios is
    required. Additionally, Workday has certified a number of large Partners on
    Workday Adaptive Planning, including Accenture, Deloitte, and KPMG, further
    expanding implementation options available for customers. These organizations
    offer support and services tailored for large enterprises transitioning to
    cloud infrastructure. 
  • Return
    to work solutions    . Finance and HR
    leaders are in a critical position to help assess the options and impacts
    associated with returning to work, including how the business can grow and
    react differently in the future.Workday is delivering     return to work solutions,
    which include workforce planning, return to the workplace planning, and
    financial planning solutions that enable customers to operate with agility
    during this time of uncertainty.

 

Customer Recognition 

Gartner Peer Insights documents customer experience through verified
ratings and peer reviews. As of October 6, 2020, Workday customer reviews
average a score of 4.9 out of 5 based on 22 reviews for the Cloud
Financial Planning and Analysis Solutions market and include the following:

 

  • “Outstanding planning tool–best in
    class and ahead of competitors,” — senior finance director, healthcare industry
    [read full review]
  • “Adaptive Insights brings to the
    table a financial planning solution with many guardrails out of the box that
    streamlines implementation. Data integration with external sources proved to be
    straightforward and works without glitch.” —  senior finance manager,
    services industry [read full review]


Comments on the News

“The role of planning seemingly changed overnight with the
impact of the pandemic, turning enterprise planning processes into
mission-critical functions,” said Kshitij Dayal, general manager, Planning
Products, Workday. “Whether standalone or as part of the Workday suite, Workday
Adaptive Planning scales with companies to help our customers achieve the
business agility today’s environment demands. We believe being named a Leader
in Gartner’s Magic Quadrant for Cloud Financial Planning & Analysis Solutions
is based on our ability to deliver a powerful solution that supports a
continuous planning process for the largest of enterprises.”

“When
COVID struck, we saw a nearly 50 percent drop in patient revenue within one
month’s time, due to plummeting ER volumes and cancellations of elective
surgeries,” said Alex Dali, CFO, of ApolloMD, a leader in the clinical
outsourcing services industry. “Fortunately, ApolloMD had already moved to a
continuous planning process using Workday Adaptive Planning. Our team went from
flat-footed to nimble in no time, moving into rapid-fire scenario planning to
keep up with changing operational conditions, enabling ApolloMD to
confidently make key business decisions.”

“COVID has accelerated the move to the cloud for many of
our clients, with planning emerging as one of the top priorities for digital
transformation,” said Jason Dess, national strategy and operations finance
leader at Deloitte. “Companies recognize that having a single planning system
in the cloud gives large organizations a level of visibility and agility that
can’t be matched with legacy tools. Adding Workday Adaptive Planning to
our practice allows us to offer clients a leading planning solution that can be
expanded companywide, scaling both in size and across multiple functions.”

 

Additional Information

 

1Gartner
“Magic Quadrant for Cloud Financial Planning & Analysis,” by Robert
Anderson, Greg Leiter, John Van Decker, 6 October 2020.Previously listed as
Adaptive Insights since Workday announced its acquisition of the company
in June 2018.

 

2Adaptive
Insights is now called Workday Adaptive Planning as of May 2020.

 

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 reviews constitute the subjective
opinions of individual end users based on their own experiences and do not represent
the views of Gartner or its affiliates.

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 quarter ended July 31, 2020,
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.

© 2020 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.