From the Wires
Workday Adds More Global Capabilities for Financial Management; Enhances Performance Management for HCM
Workday 18 Also Features Advancements in Collaboration, Mobile, and the Workday Platform
Nov. 5, 2012 08:31 AM
PLEASANTON, CA -- (Marketwire) -- 11/05/12 -- Workday, Inc. (NYSE: WDAY), a leader in enterprise cloud applications for human resources and finance, today announced its latest update, Workday 18. The update brings significant new capabilities to Workday Financial Management, enabling global enterprises to better manage finance operations around the world. Workday also delivers advancements in workforce collaboration, mobile, performance management, and the Workday platform. These new innovations offer deeper engagement, drive pay for performance, and prepare talent for the future, while also giving organizations greater flexibility they need to configure Workday to meet business needs.
Advancing Financial Management Globally and Vertically
Workday continues to advance its Financial Management application in the cloud to bring more global capabilities to large, multinational organizations, together with advanced industry-specific functionality. In this update, new global capabilities include enhanced global tax support, more international payment formats, and more powerful real-time reporting across divisions and business units for multi-national organizations.
Further, Workday 18 includes powerful industry-specific functionality for education and government, including Grants Management and fund accounting, driving reporting and compliance. Finally, Workday combines financial and workforce measures enabling project scenario planning so organizations can efficiently model the right resources for the right work.
Advancements to Workday Financial Management include:
- Enhanced global tax and payment support gives customers the ability to support partial tax recoverability and tax regimes with mixed recoverable and non-recoverable tax rates, while enriched international payment formats provide greater and more efficient reach to different regions.
- Expanded reporting using Worktags on dimensions such as Division or Business Unit provides even more flexible real-time reporting for multi-national organizations.
- Project scenario planning leverages Workday's unified HCM and Financial Management applications, so that managers can allocate resources seamlessly across projects with details that include cost, worker availability, skills, and experience.
- Grants Management and fund accounting for education and government organizations deliver clear visibility into grant activity, improved compliance with grantor reporting requirements and enable the monitoring of the use of funds to help ensure they are segregated appropriately.
Keeping the Workforce Engaged with More Collaboration and Mobile Features
New mobile devices and collaboration technologies continue to redefine the workplace and give organizations new opportunities to connect and engage their workforces to drive productivity, efficiency, and results. Workday brings the best of both worlds into Workday 18. New features include:
- A new professional profile that unites talent and professional information into a single unified view, so employees can manage their own information such as education and experience and import it directly from their LinkedIn profile.
- Team profile for iPad® lets managers see key team information and composition, including a team calendar, team members, compensation, and performance summaries, all from a tablet.
- Building on the Time Tracking functionality introduced in Workday 17, workers can also now check in and out from any mobile device or web-browser with ease.
New Tools to Maximize Performance Management
Human resources teams, managers, and executives now have the most powerful tools at their fingertips to maximize pay for performance, prepare talent for the future, and act proactively on worker trends. With performance and talent calibration, it's easy for a group of managers to collaborate and ensure consistency on the performance and talent ratings of their teams.
In addition, worker trending analytics can enable monitoring of key workforce metrics over time in areas such as headcount, worker activity data, and attrition and turnover, enabling proactive workforce management.
Increasing Platform Flexibility
Workday delivers on its promise to drive enterprise-class configurability and flexibility in the cloud with new custom field management that makes it simple to easily tailor Workday to unique business requirements. Configurations automatically carry forward with each update and give customers the power to easily adapt Workday to their specific businesses needs.
Comments on the News
"Workday 18 adds critical capabilities global organizations need to manage their finances in the cloud and across geographies," said Stan Swete, chief technology officer, Workday. "By continuing to tightly unify Financial Management with Workday HCM and adding more mobile, collaboration, and analytics features to our applications, enterprises have more flexibility and visibility into their organizations than ever before with one enterprise cloud solution."
Workday is a leading provider of enterprise cloud applications for human resources and finance. Founded in 2005, Workday delivers Human Capital Management and Financial Management applications designed for the world's largest organizations. Hundreds of companies, ranging from medium-sized businesses to Fortune 50 enterprises, have selected Workday.
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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