Workday, Inc. (NASDAQ: WDAY), a leader in enterprise cloud applications for finance and human resources, today announced at Workday Rising, the company’s annual customer conference, a range of new innovations and initiatives designed to help support customers in the changing world of work. These include new capabilities to help elevate the office of finance, ways to create more personalized employee experiences, and establishing a more open and connected Workday to help companies adapt and thrive in today’s dynamic environment.
According to a recent McKinsey Global Survey on digital strategy and investments, nine in 10 C-level and senior leaders say their organizations have pursued at least one large-scale digital transformation in the past two years. This underscores the importance of technology in helping organizations meet the rapidly evolving needs of their workforce and business.
“Whether it’s planning for the unknown, supporting employees in new working models, or embracing technologies that deliver the insights needed to drive the business forward, our customers have navigated an immense amount of change over the last few years and technology has played a critical role in enabling them to adapt,” said Pete Schlampp, chief strategy officer, Workday. “With customer service as a core value, our focus has and will always be on supporting our customers through innovation to meet their needs today and in the future.”
Helping to Elevate the Office of Finance
Finance teams are being tasked with delivering more strategic insights and scaling to meet business requirements. To help them deliver on these needs, Workday is unveiling new innovations to help elevate the office of finance. These include new machine learning capabilities to help create a more frictionless finance experience, increased performance and scalability to support company-wide planning, and deeper insights into the supply chain to support environmental, social, and governance (ESG) initiatives. Read more here.
Supporting More Personalized Employee Experiences to Help Drive Engagement
Employees who feel heard and supported are more engaged and productive, which is why organizations need to prioritize experiences that help employees feel a sense of connection and opportunity.
According to a new Workday report, Addressing Burnout Risk in 2022, the scale of higher burnout risk has increased since 2021 across many frontline industries, highlighting the need for employers to pay greater attention to the needs of their employees and take action to support them.
To help support customers with creating more personalized experiences, Workday announced new innovations to help them gain richer insight into the skills of their workforce with a more open and connected skills ecosystem so that they can make more informed talent decisions and deliver meaningful employee experiences. Read more here.
Establishing a More Open, Connected, and Co-Innovative Workday to Support Evolving Needs
Customers’ requirements are unique to their industry and growth strategies, highlighting the need for industry-specific solutions that help enable faster time to value and the ability to bring in innovation from external partners to help drive success. To further expand its ecosystem and enable swift innovation and open collaboration, Workday announced its plans for:
- A vision for transforming Workday’s partner ecosystem that embraces a more open and connected approach to help create faster time to value for customers through more innovation, joint go-to-market strategies, and an expanded services network. Read more here.
- A new Industry Accelerator program to help speed cloud transformation efforts, initially for healthcare, banking, insurance, and technology companies, combines Workday partners, solutions, and services. Read more here.
- New technology and user experience (UX) innovations aimed at helping its customer community quickly adapt to meet ever-changing business and employee needs, including planned low-code/no-code app development functionality in Workday Extend and intuitive UX capabilities that help make work effortless for every type of user. Read more here.
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