Workday Among Cloud Top 500

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Workday Strengths, Domain Expertise, and Key Differentiators

Workday is aiming to become the system of record for a large swath of users among its target customers and verticals. The vendor has been able to grow organically, while shoring up its presence in markets such as AI, Blockchain, Enterprise Performance Management and procurement. That results in a big wallet share among its key customers.

Its Buyer Insights Master Database shows that not only Workday has been able to show a growing penetration of its Core HR and Financial Management among its customers, it has also experienced a steady increase in such important point solutions like talent acquisition.

Among the 1000 largest companies in the United States, nearly a quarter of them are now running Workday Recruiting for talent acquisition, according to its regular survey of these enterprise companies.

With its recent purchase of Adaptive Insights, a provider of cloud-based business planning and financial modeling tools, now under the Workday umbrella, there are an additional 4,100 organizations worldwide utilizing Workday for planning and plenty of other options to standardize on the Workday platform.

Workday Recent Developments

At Workday Rising 2019, Workday announced Workday People Experience, a personalized, more intelligent employee experience aimed at improving efficiency, knowledge sharing, and collaboration that is supported on any device, from desktop to tablet and mobile. Workday People Experience leverages machine learning, natural language processing, rich media, and enterprise search.

Besides the use of machine learning technologies, Workday announced the usage of blockchain through a brand-new platform, Workday Credentials, and WayTo by Workday. Workday Credentials will enable enterprise customers to quickly issue, manage and verify credentials for all types of workers and individuals—employees, contractors, students, and partners, helping to streamline credential verification and compliance. The WayTo by Workday mobile app will give individuals a better way to store, manage, and share their verified credentials as well as professional and personal information on their device. This means that individuals can decide exactly what and with whom to share information about themselves to expedite application processes. These enhancements reinforce the Workday HCM suite with best-of-breed capability and innovation across its entire product portfolio.

Workday Mergers and Acquisitions (M&A) Activities

In 2019, Workday bought Scout RFP for its strategic sourcing and supplier engagement applications. That followed its purchase of Trusted Key, an identity authentication company that uses blockchain to authentication credentials, like degrees, licenses and certifications.

Last year, Workday acquired for analytics and Adaptive Insights for cloud-based enterprise performance management and business intelligence. As Workday ramps up its acquisition strategy, the issue is how these different pieces will be integrated to deliver a seamless user experience.

Workday Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Workday applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Workday and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Workday Financial Management, Workday Human Capital Management, Workday Prism Analytics, Workday Professional Services Automation, Workday Student, customers.

Workday Key Enterprise and Cloud Applications

Workday Financial Management, Workday Human Capital Management, Workday Prism Analytics, Workday Professional Services Automation, Workday Student,

Workday Revenues, $M:

Type/Year20172018YoY Growth, %
Total Revenues, $M Subscribe Subscribe Subscribe
Enterprise Applications Revenues, $M Subscribe Subscribe Subscribe
Cloud Applications Revenues, $M Subscribe Subscribe Subscribe

* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.

Workday Revenue Breakdown By Type, $M:

TypeLicenseServicesHardwareSupport & MaintenanceSaaS
% of Total Revenues Subscribe Subscribe Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe Subscribe Subscribe

Workday Revenues By Region, $M

Region% of Total Revenues2018 Total Revenues, $M2018 Enterprise Applications Revenues, $M2018 Cloud Applications Revenues, $M
Americas Subscribe Subscribe Subscribe Subscribe
EMEA Subscribe Subscribe Subscribe Subscribe
APAC Subscribe Subscribe Subscribe Subscribe
Total Subscribe Subscribe Subscribe Subscribe

Workday Direct vs Indirect sales

RegionDirect SalesIndirect SalesTotal
Type % Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe

Workday Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Workday Customers

No. of Workday Customers: 2800

No. of Workday Enterprise Applications Customers: 2800

No. of Workday Cloud Customers: 2800

No. of Workday Cloud Subscribers: 40 million

Workday Customer Count: Workday HCM - 2800 Workday Projects - 1075 Workday Expenses - 900 Workday Financial - 725 Workday Procurement - 650 Workday Inventory - 150 Workday Grants - 150 Workday Prism Analytics - 275 Adaptive Insight - 4500 Workday has more than 2,800 customers, more than 70% of which are live and in production, ranging from mid-sized businesses to more than 35% of the Fortune 500 and half of the Fortune 50.

Despite their size, some of Workday's key customers have gone live in a compressed time frame including Bank of Montreal, Glencore International, and Piedmont Airlines, a subsidiary of American Airlines.

Workday Financial Management customers include 21st Century Fox, Airbnb, Aon, Brown & Brown, Caliber Holdings,, City and County of Denver, Conde Nast, Continental Casualty, Cushman & Wakefield, Denny’s, First Financial Bank, Giant Tiger, J.B. Hunt, Life Time Fitness, Louisiana State University, Netflix, New York Public Library, The Ohio State University, Panera Bread, Sacramento Kings, Salmat, Sanford Health, Sky Betting & Gaming, TripAdvisor, Unum, WeWork, Yale Workday Human Capital Management customers include Amazon, Airbus, Bank of America, BP, Centrica, Citigroup, Dell, Deutsche Bank, Fast Retailing, Hitachi, Home Depot, HP Inc. and HP Enterprise, Humana, IBM, Kohl’s, Lloyds Bank, Massachusetts Mutual Life Insurance, MGM Resorts, Morgan Stanley, Nissan, Pfizer, PNC Bank, Primark, Rolls-Royce, Qantas Airlines, Sanofi, Shell, Siemens, Target, Unilever and many others.

Workday Market Opportunities, M&A and Geo Expansions

After becoming a popular Cloud HCM choice among major companies with tens of thousands of employees, Workday announced its plan to boost its presence in the midmarket space.

Working with a long list of deployment partners like Deloitte, has started delivering fixed-fee and preconfigured packages for midmarket customers in the United States. The template approach is expected to fuel the customer count of Workday, perhaps doubling or tripling it over the next few years as it rolls out its midmarket push in other countries.

After winning deals from a slew of customers in the education and services sectors, Workday is expected to move into asset-intensive industries.

Earlier, Workday announced Workday Inventory along with enhancements to Workday Procurement, to address the supply chain management needs of healthcare providers.

As its customer mix becomes more diverse, global support will become a big priority for Workday in 2019. The same applies to continuous innovation in the user interface, gearing up to save time and money for its customers that are committed to making easy-to-use Workday applications available to a large base of employees and key constituents across different devices and touchpoints.

Workday Risks and Challenges

As Workday expands its footprint, the risk lies in which market segment it plans to build out and where to backfill. The acquisition of Scout RFP may well foreshadow Workday's attempts to leapfrog competitors like Coupa, GEP, and others in the procurement space. Still, Workday's ability to wrest control of the back-end financial management and processes is still a work in progress. Most customers still consider Workday as a serious HR apps contender, not full-blown enterprise applications play.

Workday could become the system of record for some accounts, but it will have a hard time blanketing many others because of limited capabilities in such areas as global payroll, quality management for asset-intensive manufacturing companies, and even learning for industries like banking and financial services, and healthcare. The good news is there’s still plenty of runway for Workday to claim a bigger share in the HCM apps market.

What happens next will take more than tucked-in acquisitions to realize Workday’s goal to become the total solution provider for enterprise customers.

Workday Ecosystem, Partners, Resellers and SI

The Workday ecosystem is getting a helping hand from its VC arm.

In 2019, Beamery, a talent engagement platform, announced it has received a strategic investment from Workday Ventures and it will join the Workday Software Partner Program. In addition, Beamery also announced that the Workday Talent Acquisition team has selected Beamery products that help further its efforts to identify early-stage, passive candidates and are complementary to Workday Human Capital Management HCM, including Beamery Talent Customer Relationship Management CRM, Beamery Talent Marketing, and Beamery Pages.

The acquisition of Scout RFT, which previously was funded through Workday Ventures, underscores its VC arm is both an incubator and a talent producer that feeds its product pipeline.

Workday primarily sells direct, but its partner ecosystem is becoming more robust than ever. Accenture, CSC, Deloitte, NGA Human Resources, OneSource Virtual, and PWC have invested heavily in their Workday practice.

In addition, Workday has certified more than 6,000 partner consultants, growing its field expertise to meet customer demand.

Because of some gaps within the Workday portfolio, partners like NGAhr, now part of Alight, have been able to shore up services and product offerings especially when it comes to payroll support for dozens of countries that Workday does not currently support with its own offerings.

Earlier Workday expanded its partnership with ADP to provide multinational organizations with a seamless and unified global payroll experience. The partnership plans to leverage the next level in integration technology to unite Workday Human Capital Management (HCM) and ADP Global Payroll in single user experience within Workday, enabling multinational organizations to more effectively manage their global workforce, efficiently process payroll, and maximize business growth.

Other partners include Appirio(now Wipro), AXIA(acquired by KMPG), Balkon(acquired by PwC), CedarCrestone(now Sierra-Ceder), Cloudator, Collaborative Solutions, CPSG, DayNIne(now Accenture), everBe, IBM, Jeitosa Group International(acquired by Mercer), Kainos, Kloud, KPMG, Meteorix(acquired by IBM), OmniPoint (acquired by Aon Hewitt), and Towers Watson (now WillisTowersWatson).

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Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

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