Is Workday slowly becoming the Greatest of All Time in the HRIS world?
Workday is quickly becoming more powerful and is becoming favoured within the larger corporations across the world. This is because of modern technology and a more customer-driven approach. This is starting to attract customers from so-called leaders of the ERP market, SAP and Oracle.
In this blog I am going into all of the reasons I believe are the key factors as an explanation to why Workday are where they are right now, bossing the HRIS world.
Integration is one of the big reasons Workday is so popular. It certainly would not have been as successful as it is now if it didn’t integrate their software to other companies. Workday’s system allows companies to switch to Workday without losing any data or having to re-input existing data, taking up a load of time and money.
It works the way you work – the data is at your fingertips! Workday allows you to pick up a real-time report instantly over mobile meaning you have access to your data anytime and anywhere 24/7 on a secure network. Workday is built into the core of their business DNA. If you’re going through a vendor and do not design your software appropriately then you’re behind the curve.
The modern-day user is very versatile and often work from home or they might be a contractor. They work on their terms with their own technology.
Additionally, there is just one version and it operates the same way globally so there is just one system to manage. This makes it much easier to operate as Workday uses in-memory capabilities, business transactions and analytics all in one place and are always update. The system can process; managerial and juridical reporting, worldwide name, assent and data privacy maintenance, leave management, and address formats, business process configurations – all of your global requirements in one system.
It is 100% cloud-based, this reduces the amount of time and money spent keeping applications up to date. As well as that, Workday enables you to reach out to clients using a small number of servers which limits the amount of energy required.
The future is here and Workday makes their customer’s lives a whole lot simpler. Their multi-tenancy design allows customers to share one Workday solution without ever discussing each other’s data or making upgrades.
With Workday, companies benefit from continuous innovation as they release an update to their system every six months. This saves money allowing them to use their IT resources to concentrate on other projects that will drive your company forward.
So, it takes me back to my question – Is Workday the G.O.A.T?
After being founded nearly 14 years ago by two people, to get it to where it is now is ridiculous and a real achievement. They had a plan to build cloud-based applications that would revolutionise the enterprise software market. Seeing that their annual revenue for 2018 was $2.143B which was a 36.12% increase from 2017 they are definitely on that path.
Is anyone even close to holding up their momentum as they continue to grow? Do other companies in the HRIS world need to adapt their strategies in order to keep up with Workday?
I would love to know your thoughts about Workday and other HRIS companies. Do you think differently to me?