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Workday (WDAY), Accenture Team Up to Optimize Finance Management
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Workday, Inc. (WDAY - Free Report) recently announced that it has extended its collaboration with Accenture to expedite the development of financial management solutions. The collaboration integrates Workday’s technology platform, foundational data model and advanced analytics with Accenture's industry expertise.
The objective is to create a data-driven, client-oriented solution for financial planning and analysis to cater to the varied requirements of different industries. This partnership is aligned with Workday's Industry Accelerator initiative, which aims to meet the growing demand for digital transformation across various sectors.
CFOs frequently face a multitude of challenges in the evolving business landscape. They need to maintain a delicate equilibrium between profitability and long-term sustainability and expansion. Effective financial management entails strategic planning, risk mitigation, cost optimization and the ability to adapt swiftly to dynamic market conditions.
Workday’s financial management technology addresses these issues. It leverages a cloud-native platform powered by advanced AI and ML technology, in conjunction with industry-leading expertise in innovation, to craft highly configurable industry-specific solutions. This allows businesses to streamline their core financial operations while bolstering their resilience to the evolving business environment.
Workday’s retail industry solutions encompass in-depth analytics and dashboards, providing detailed insights for retailers to assess store performance. This also features a workforce management solution, which facilitates efficient utilization of the workforce and improves store operations. In the media sector, Workday's offerings cover the monetization of media assets, training of media production and title amortization. In the software and technology domain, Workday’s solution will support enterprises with the customer billing process, revenue planning, spending and cash flow optimization.
Salesforce, a leading provider of customer relationship management software, recently utilized Accenture design and execution support with Workday’s financial management tools. This will drive efficiency in Salesforce’s financial processes and offer business insights to streamline its global operations.
Workday’s diversified product portfolio continues to yield a steady flow of customers. Its revenue growth continues to be driven by high demand for its HCM (Human Capital Management) and financial management solutions. The company’s cloud-based business model and expanding product portfolio have been the primary growth drivers. Moreover, the growing clout of Workday Prism Analytics and Adaptive Insights business planning cloud offerings holds promise.
Workday is expanding its portfolio beyond core HCM solutions into the financial domain and is customizing them for diverse industries and verticals, such as education, the public and financial services, among others. This has helped the company witness strong renewals and expand its customer base as business enterprises aim to consolidate spending and improve efficiency levels.
Management is putting a strong focus on integrating advanced AI and ML capabilities. The ongoing AI-powered product development emphasizes natural language generation, content search, summarization, content augmentation and document understanding. This augurs well for the long-term growth of the company.
The stock has gained 47.4% in the past year compared with the industry’s growth of 12.9%.
Image Source: Zacks Investment Research
Workday currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Motorola Solutions, Inc. (MSI - Free Report) , carrying a Zacks Rank #2 (Buy) at present, delivered an earnings surprise of 5.62%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 5.58%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure service providers. It develops and services both analog and digital two-way radio, voice and data communications products and systems for private networks, wireless broadband systems and end-to-end enterprise mobility solutions to a wide range of enterprise markets.
Splunk Inc. , sporting a Zacks Rank #1, delivered an earnings surprise of 154.90%, on average, in the trailing four quarters. In the last reported quarter, it delivered an earnings surprise of 69.05%.
Splunk provides software solutions that enable enterprises to gain real-time operational intelligence by harnessing the value of their data. The company's offerings enable users to investigate, monitor, analyze and act on machine data and big data, irrespective of format or source, and help in operational decision-making.
NVIDIA Corporation (NVDA - Free Report) , currently sporting a Zacks Rank #1, delivered an earnings surprise of 9.79%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 29.19%.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit or GPU. Over the years, the company’s focus has evolved from PC graphics to artificial intelligence-based solutions that now support high-performance computing, gaming and virtual reality platforms.
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Workday (WDAY), Accenture Team Up to Optimize Finance Management
Workday, Inc. (WDAY - Free Report) recently announced that it has extended its collaboration with Accenture to expedite the development of financial management solutions. The collaboration integrates Workday’s technology platform, foundational data model and advanced analytics with Accenture's industry expertise.
The objective is to create a data-driven, client-oriented solution for financial planning and analysis to cater to the varied requirements of different industries. This partnership is aligned with Workday's Industry Accelerator initiative, which aims to meet the growing demand for digital transformation across various sectors.
CFOs frequently face a multitude of challenges in the evolving business landscape. They need to maintain a delicate equilibrium between profitability and long-term sustainability and expansion. Effective financial management entails strategic planning, risk mitigation, cost optimization and the ability to adapt swiftly to dynamic market conditions.
Workday’s financial management technology addresses these issues. It leverages a cloud-native platform powered by advanced AI and ML technology, in conjunction with industry-leading expertise in innovation, to craft highly configurable industry-specific solutions. This allows businesses to streamline their core financial operations while bolstering their resilience to the evolving business environment.
Workday’s retail industry solutions encompass in-depth analytics and dashboards, providing detailed insights for retailers to assess store performance. This also features a workforce management solution, which facilitates efficient utilization of the workforce and improves store operations. In the media sector, Workday's offerings cover the monetization of media assets, training of media production and title amortization. In the software and technology domain, Workday’s solution will support enterprises with the customer billing process, revenue planning, spending and cash flow optimization.
Salesforce, a leading provider of customer relationship management software, recently utilized Accenture design and execution support with Workday’s financial management tools. This will drive efficiency in Salesforce’s financial processes and offer business insights to streamline its global operations.
Workday’s diversified product portfolio continues to yield a steady flow of customers. Its revenue growth continues to be driven by high demand for its HCM (Human Capital Management) and financial management solutions. The company’s cloud-based business model and expanding product portfolio have been the primary growth drivers. Moreover, the growing clout of Workday Prism Analytics and Adaptive Insights business planning cloud offerings holds promise.
Workday is expanding its portfolio beyond core HCM solutions into the financial domain and is customizing them for diverse industries and verticals, such as education, the public and financial services, among others. This has helped the company witness strong renewals and expand its customer base as business enterprises aim to consolidate spending and improve efficiency levels.
Management is putting a strong focus on integrating advanced AI and ML capabilities. The ongoing AI-powered product development emphasizes natural language generation, content search, summarization, content augmentation and document understanding. This augurs well for the long-term growth of the company.
The stock has gained 47.4% in the past year compared with the industry’s growth of 12.9%.
Image Source: Zacks Investment Research
Workday currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Motorola Solutions, Inc. (MSI - Free Report) , carrying a Zacks Rank #2 (Buy) at present, delivered an earnings surprise of 5.62%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 5.58%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It provides services and solutions to government segments and public safety programs, along with large enterprises and wireless infrastructure service providers. It develops and services both analog and digital two-way radio, voice and data communications products and systems for private networks, wireless broadband systems and end-to-end enterprise mobility solutions to a wide range of enterprise markets.
Splunk Inc. , sporting a Zacks Rank #1, delivered an earnings surprise of 154.90%, on average, in the trailing four quarters. In the last reported quarter, it delivered an earnings surprise of 69.05%.
Splunk provides software solutions that enable enterprises to gain real-time operational intelligence by harnessing the value of their data. The company's offerings enable users to investigate, monitor, analyze and act on machine data and big data, irrespective of format or source, and help in operational decision-making.
NVIDIA Corporation (NVDA - Free Report) , currently sporting a Zacks Rank #1, delivered an earnings surprise of 9.79%, on average, in the trailing four quarters. In the last reported quarter, it pulled off an earnings surprise of 29.19%.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit or GPU. Over the years, the company’s focus has evolved from PC graphics to artificial intelligence-based solutions that now support high-performance computing, gaming and virtual reality platforms.