Workday Inc. (NASDAQ: WDAY), a leader in enterprise cloud
applications for finance and human resources, today announced new
capabilities in Workday Extend—a solution that helps customers and
partners seamlessly extend beyond core Workday applications to meet
their unique business needs. New orchestration, data, and logic
capabilities within Workday Extend will help organizations advance
their digital acceleration efforts and unlock new business value,
improve employee engagement, and increase organizational agility.
Increase Organizational Agility With Deep
ExtensibilityOrganizational speed is a must-have,
requiring businesses to move with agility and quickly adapt to
change. Every company has its own unique digital processes and
transactions, yet today many organizations are forced to move
finance and HR data outside of the core system to connect these
processes and integrate with third-party systems, adding
complexity, cost, and risk.
Workday Extend empowers the Workday customer
community—representing over 50 million workers globally—to quickly
and confidently build new apps that run within Workday core
applications. With new capabilities and functionality, Workday
Extend enables higher-value apps that increase employee engagement,
streamline experiences, and optimize business processes while
securely connecting Workday data to third-party systems. This deep
extensibility uniquely keeps the context of data, process flow,
user experience, and security in place to deliver enhanced app
experiences, unlike systems that run outside of Workday or that
only offer general purpose functions. Those systems require
re-building integrations, rationalizing user interfaces and
security, and then synchronizing separate copies of the same data.
Now with Workday Extend, customers simplify the IT stack and keep
finance and HR data more secure so that organizations can optimize
their existing technology investment with minimal risk.
Drive Rapid Innovation For Higher-Value App
ExperiencesWith new Workday Orchestrate, now included with
a Workday Extend subscription, app developers have the ability to
orchestrate finance and people processes across Workday and
third-party systems. These orchestrations are built visually using
Orchestration Builder—a drag-and-drop user interface that provides
guided, simplified low-code developer experiences to define logic,
map data, and perform transformations.
With this added functionality, Workday Extend helps foster an
even more connected, adaptable, and extensible Workday that enables
organizations to innovate faster to address their specific needs
and accelerate time-to-value. Customers also benefit
from:
- Faster Development of New Digital Business
Capabilities. Workday Extend leverages
the Workday core architectural principles and makes it possible for
businesses to rapidly and deeply extend Workday data and processes.
In addition, the Workday Extend app catalog offers a curated list
of app templates and reference apps that address common business
scenarios and are ready for immediate configuration and deployment.
Customers using Workday Extend have achieved up to a 75 percent
reduction in application development effort—accelerating
development from months to weeks—over alternate
technologies.
- Reduced Complexity and Costs. With Workday
Extend, IT teams can eliminate the need for a patchwork of app
development and deployment platforms, workflow and integration
tools, and management systems for building new apps and
employee experiences. This enables them to reduce technology
stack complexity and costs, unlocking more capacity to deliver to
the business.
- Greater Confidence. Customers using Workday
Extend are able to have greater confidence knowing that the apps
they develop are on the global, trusted Workday Enterprise
Management Cloud, minimizing the security and privacy risks
associated with moving data outside of Workday to a separate
system.
Comments on the News“Our global customers need
technologies that support a business-first approach—the kind that
differentiates them, future-proofs their existing investments, and
drives innovative new ways to do business,” said Jim Stratton,
chief technology officer, Workday. “Workday Extend helps to close
the acceleration gap that exists between IT needs and capacity, so
companies can confidently and securely keep up with the growing
pace of change.”
“We have developed and deployed full Workday Extend apps within
a few weeks, thanks to our team's familiarity with Workday
technology and trust in their governance model,” says Eric Chung,
director, HR Technology - Innovation, Sun Life. “App development
with Workday is fast and secure given our ability to reuse
established data structures and design patterns.”
“Using Workday Extend, we were able to build an employee
self-service stock app that has helped us streamline the stock
enrollment process and reduce stock option-related queries for the
finance team,” said Krishna Gundihithlu, manager, People
Technology, Netflix. “Having the ability to leverage the security
and privacy controls within Workday’s trusted enterprise management
cloud enables us to confidently spin up new apps like this to meet
our unique needs and drive more value from our Workday
investment.”
“Workday Extend, featuring the new Workday Orchestrate and data
and logic capabilities, sets a new trajectory for the company as it
opens up Workday to help clients accelerate their digital
transformation journey,” said Mickey North Rizza, program vice
president, Enterprise Applications and Digital Commerce, IDC.
“Extending the value of Workday people and finance data and
processes for customers and partners alike is the goal, and with
today’s announcement, Workday has delivered.”
Additional Information For additional
perspective:
- Read the blog “Workday Extend: Building new Business
Capabilities for HR and Finance with Speed and Simplicity” by Jim
Stratton, chief technology officer, Workday.
- Check out the Workday Extend datasheet here.
- Register to attend the webinar, “Unlock New Value from your
Workday Investment: Discover the Power of Workday Extend” on April
22, 2021.
About WorkdayWorkday is a leading provider of
enterprise cloud applications for finance and human resources,
helping customers adapt and thrive in a changing world. Workday
applications for financial management, human resources, planning,
spend management, and analytics have been adopted by thousands of
organizations around the world and across industries—from
medium-sized businesses to more than 45 percent of the Fortune 500.
For more information about Workday, visit workday.com.
Forward Looking StatementsThis press release
contains forward-looking statements including, among other things,
statements regarding the expected performance and benefits of
Workday’s and Workday Strategic Sourcing’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 Workday’s
filings with the Securities and Exchange Commission (“SEC”),
including Workday’s Form 10-K for the fiscal year ended January 31,
2021 and future reports that may be filed 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 and Workday Strategic Sourcing’s discretion and may
not be delivered as planned or at all. Customers who purchase
Workday and/or Workday Strategic Sourcing services should make
their purchase decisions based upon services, features, and
functions that are currently available.
Media Contact:Samantha Sokmedia@workday.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/518e5c3a-f77c-4191-b1b0-bc996e3ac0d3
Workday (NASDAQ:WDAY)
Historical Stock Chart
From Aug 2024 to Sep 2024
Workday (NASDAQ:WDAY)
Historical Stock Chart
From Sep 2023 to Sep 2024