The core value proposition for CFOs is that it enables them to get their teams out of spreadsheets and centralize all the relevant financial data in one place.
These are all extensions of Workday’s employee system of record.įinancials: products that help companies and CFOs manage all of their financial and account processes, which includes Planning (Adaptive Insights), close automation controls, AR/AP, and expense management. Lifecycle management means employers can use Workday to manage recruiting (e.g., Job Board), hiring (e.g., Applicant Tracking), onboarding, payroll, learning, and development. Human Capital Management: products help companies and HR leaders manage their workforce through their entire lifecycle. The core platform can be broken down into three components: Overtime, via product development and some M&A, the company has expanded to build the ERP for the services industry.
The company started with HCM, payroll, and a basic financials suite. Workday has 1.5 systems of records (“SORs”): (a) Human Capital Management (“HCM”) and (b) Financial Planning and Management.
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