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Workday (WDAY) Teams Up With Crown Commercial: Main Takeaways
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Workday (WDAY - Free Report) recently announced that it signed a Memorandum of Understanding (MoU) with U.K.-based Crown Commercial Service to accelerate deployment of cloud capabilities across the country’s public sector.
Workday added that Crown Commercial Service is one of the biggest public procurement organisations in the U.K.
Further, Workday noted that the new MoU, via Crown Commercial, will enable companies to gain access to Workday applications like Workday Human Capital Management (HCM), Workday Financial Management and Workday Adaptive Planning to suit their business needs.
Currently, Workday solutions are leveraged by entities like UK Research and Innovation, Cabinet Office, Department for Education.
The latest collaboration bodes well for Workday’s top-line growth and instills investors’ confidence in the stock. Notably, shares of Workday have returned 38.8% compared with the industry’s growth of 41.2% in the past year.
Ample Opportunities for Workday in HCM market
Workday is a one of the well-known providers of enterprise-level software solutions for financial management and human resource domains. Continued momentum seen for its HCM and financial management solutions is supporting the top line growth for the company.
Pandemic-triggered accelerated digital transformation of enterprises, worldwide, is driving adoption of Workday’s offerings like Workday Adaptive Planning, Workday Prism Analytics and Workday Strategic Sourcing as well as Spend Management offerings.
Increasing clout of Workday People Analytics, Workday People Experience and Workday Extend, integrated with improved capabilities augurs well for Workday’s top line growth.
Workday is also anticipated to gain from healthy uptake of its two latest offerings, VIBE Central and VIBE Index. Workday noted that VIBE is the acronym for Value Inclusion, Belonging and Equity. The two offerings help HR leaders to augment inclusivity and accelerate belonging and diversity (B&D) endeavours within the workplace.
The company’s other offerings like FINS Plus solution, Workday Accounting Center and Workday Talent Marketplace offerings are also witnessing strong adoption.
Workday’s acquisitions have also positively impacted the top-line growth. In Mar 2021, the company acquired Denmark-based Human Resource (HR) company, Peakon. Peakon specializes in improving employee engagement by converting employee feedback into actionable insights.
Previously, Workday purchased companies like Scout RFP (2019), TrustedKey (2019) and Adaptive Insights (2018) to fortify its competitive stance in the lucrative HCM market.
Nevertheless, Workday needs to watch out for stiff competition in the HCM and financial management software space from the likes of Oracle (ORCL - Free Report) , SAP (SAP - Free Report) and Automatic Data Processing (ADP - Free Report) .
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
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Workday (WDAY) Teams Up With Crown Commercial: Main Takeaways
Workday (WDAY - Free Report) recently announced that it signed a Memorandum of Understanding (MoU) with U.K.-based Crown Commercial Service to accelerate deployment of cloud capabilities across the country’s public sector.
Workday added that Crown Commercial Service is one of the biggest public procurement organisations in the U.K.
Further, Workday noted that the new MoU, via Crown Commercial, will enable companies to gain access to Workday applications like Workday Human Capital Management (HCM), Workday Financial Management and Workday Adaptive Planning to suit their business needs.
Workday, Inc. Price and Consensus
Workday, Inc. price-consensus-chart | Workday, Inc. Quote
Currently, Workday solutions are leveraged by entities like UK Research and Innovation, Cabinet Office, Department for Education.
The latest collaboration bodes well for Workday’s top-line growth and instills investors’ confidence in the stock. Notably, shares of Workday have returned 38.8% compared with the industry’s growth of 41.2% in the past year.
Ample Opportunities for Workday in HCM market
Workday is a one of the well-known providers of enterprise-level software solutions for financial management and human resource domains. Continued momentum seen for its HCM and financial management solutions is supporting the top line growth for the company.
Pandemic-triggered accelerated digital transformation of enterprises, worldwide, is driving adoption of Workday’s offerings like Workday Adaptive Planning, Workday Prism Analytics and Workday Strategic Sourcing as well as Spend Management offerings.
Per Expert Market Research report, HCM software market is expected to witness a CAGR of 8% between 2021 and 2026.
Increasing clout of Workday People Analytics, Workday People Experience and Workday Extend, integrated with improved capabilities augurs well for Workday’s top line growth.
Workday is also anticipated to gain from healthy uptake of its two latest offerings, VIBE Central and VIBE Index. Workday noted that VIBE is the acronym for Value Inclusion, Belonging and Equity. The two offerings help HR leaders to augment inclusivity and accelerate belonging and diversity (B&D) endeavours within the workplace.
The company’s other offerings like FINS Plus solution, Workday Accounting Center and Workday Talent Marketplace offerings are also witnessing strong adoption.
Workday’s acquisitions have also positively impacted the top-line growth. In Mar 2021, the company acquired Denmark-based Human Resource (HR) company, Peakon. Peakon specializes in improving employee engagement by converting employee feedback into actionable insights.
Previously, Workday purchased companies like Scout RFP (2019), TrustedKey (2019) and Adaptive Insights (2018) to fortify its competitive stance in the lucrative HCM market.
Nevertheless, Workday needs to watch out for stiff competition in the HCM and financial management software space from the likes of Oracle (ORCL - Free Report) , SAP (SAP - Free Report) and Automatic Data Processing (ADP - Free Report) .
At present, Workday carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>