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Workday (WDAY) Rides on Solid Demand in Retail and Hospitality
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Workday Inc. (WDAY - Free Report) has revealed that its retail and hospitality business has crossed the $1 billion mark in annual recurring revenues, backed by multiple customer wins.
In the current evolving market scenario, enterprises often grapple with a multitude of challenges spanning financial processes, workforce dynamics and overall business operations. An IDC report suggests that around 44% of retailers lack visibility in business operations across front and back offices. This hinders management's ability to effectively recruit, train and strategically allocate resources to address crucial skill gaps within key areas of the business process.
Workday, with its robust AI-powered portfolio, is effectively addressing these issues. Workday Solutions Marketplace includes a wide array of finance, HR and planning solutions dedicated to retail and hospitality use cases.
Workday’s user-friendly workforce tools include Workday Talent Optimization, Workday Payroll, Workday Scheduling and Labor Optimization, Workday Time Tracking and more. These features empower organizations with accurate labor cost insights and offers a personalized worker experience that boosts employee loyalty and productivity.
Workday Financial Management is a one-stop solution to accelerate digital finance transformation across business operations. Alongside effectively automating processes, such as record to report, procure to pay and contract to cash, the solution provides in-depth insights to management. Through electronic evidence and documentation of every transaction, it ensures proactive risk management and compliance monitoring.
In collaboration with Accenture, Workday is developing a data-driven and highly configurable financial management solution for retail use cases. This innovative solution seamlessly integrates merchandising and inventory functionalities with financial management. This will serve as a one-stop solution for workforce and inventory management and enable finance and store operations teams to gain real-time visibility into the operations.
The company is witnessing solid momentum in the retail and hospitality sector, with around 55% of NRF’s (National Retail Foundation’s) top 100 retailers having deployed Workday technology. The company’s recent customer wins include industry leaders in the retail sector, such as Best Buy, Cinemark Holdings, Inc., Crumbl Enterprises, LLC, KPB Brands, MUSINSA Co., Ltd., IDKIDS, O'Reilly Automotive Stores, Inc., PARQUES REUNIDOS, S.A., Whataburger and more. Workday’s comprehensive AI-powered product portfolio empowers organizations to drive profitability, retain a skilled workforce and enhance decision-making capabilities.
Workday’s revenue growth continues to be driven by high demand for its HCM 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. 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.
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 spend and improve efficiency levels. This augurs well for the long-term growth of the company.
The stock has gained 69.5% in the past year compared with the industry’s growth of 68.9%.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit. Over the years, the company’s focus evolved from PC graphics to AI-based solutions that support high-performance computing, gaming and virtual reality platforms.
InterDigital, Inc (IDCC - Free Report) , carrying a Zacks Rank #2 at present, delivered a trailing four-quarter average earnings surprise of 170.71%. In the last reported quarter, it delivered an earnings surprise of 78.99%.
It is a pioneer in advanced mobile technologies that enable wireless communications and capabilities. The company engages in designing and developing a wide range of advanced technology solutions, which are used in digital cellular as well as wireless 3G, 4G and IEEE 802-related products and networks.
Qualcomm Incorporated (QCOM - Free Report) , carrying a Zacks Rank #2 at present, delivered a trailing four-quarter average earnings surprise of 2.23%. In the last reported quarter, it delivered an earnings surprise of 5.21%.
It designs, manufactures and markets digital wireless telecom products and services based on the Code Division Multiple Access (CDMA) technology. The products include CDMA-based integrated circuits and system software for wireless voice and data communications, as well as global positioning system products.
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Workday (WDAY) Rides on Solid Demand in Retail and Hospitality
Workday Inc. (WDAY - Free Report) has revealed that its retail and hospitality business has crossed the $1 billion mark in annual recurring revenues, backed by multiple customer wins.
In the current evolving market scenario, enterprises often grapple with a multitude of challenges spanning financial processes, workforce dynamics and overall business operations. An IDC report suggests that around 44% of retailers lack visibility in business operations across front and back offices. This hinders management's ability to effectively recruit, train and strategically allocate resources to address crucial skill gaps within key areas of the business process.
Workday, with its robust AI-powered portfolio, is effectively addressing these issues. Workday Solutions Marketplace includes a wide array of finance, HR and planning solutions dedicated to retail and hospitality use cases.
Workday’s user-friendly workforce tools include Workday Talent Optimization, Workday Payroll, Workday Scheduling and Labor Optimization, Workday Time Tracking and more. These features empower organizations with accurate labor cost insights and offers a personalized worker experience that boosts employee loyalty and productivity.
Workday Financial Management is a one-stop solution to accelerate digital finance transformation across business operations. Alongside effectively automating processes, such as record to report, procure to pay and contract to cash, the solution provides in-depth insights to management. Through electronic evidence and documentation of every transaction, it ensures proactive risk management and compliance monitoring.
In collaboration with Accenture, Workday is developing a data-driven and highly configurable financial management solution for retail use cases. This innovative solution seamlessly integrates merchandising and inventory functionalities with financial management. This will serve as a one-stop solution for workforce and inventory management and enable finance and store operations teams to gain real-time visibility into the operations.
The company is witnessing solid momentum in the retail and hospitality sector, with around 55% of NRF’s (National Retail Foundation’s) top 100 retailers having deployed Workday technology. The company’s recent customer wins include industry leaders in the retail sector, such as Best Buy, Cinemark Holdings, Inc., Crumbl Enterprises, LLC, KPB Brands, MUSINSA Co., Ltd., IDKIDS, O'Reilly Automotive Stores, Inc., PARQUES REUNIDOS, S.A., Whataburger and more. Workday’s comprehensive AI-powered product portfolio empowers organizations to drive profitability, retain a skilled workforce and enhance decision-making capabilities.
Workday’s revenue growth continues to be driven by high demand for its HCM 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. 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.
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 spend and improve efficiency levels. This augurs well for the long-term growth of the company.
The stock has gained 69.5% in the past year compared with the industry’s growth of 68.9%.
Image Source: Zacks Investment Research
Workday currently carries a Zacks Rank #2 (Buy).
Other Stocks to Consider
NVIDIA Corporation (NVDA - Free Report) , currently carrying a Zacks Rank #2, delivered a trailing four-quarter average earnings surprise of 18.99%. In the last reported quarter, it delivered an earnings surprise of 19.64%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit. Over the years, the company’s focus evolved from PC graphics to AI-based solutions that support high-performance computing, gaming and virtual reality platforms.
InterDigital, Inc (IDCC - Free Report) , carrying a Zacks Rank #2 at present, delivered a trailing four-quarter average earnings surprise of 170.71%. In the last reported quarter, it delivered an earnings surprise of 78.99%.
It is a pioneer in advanced mobile technologies that enable wireless communications and capabilities. The company engages in designing and developing a wide range of advanced technology solutions, which are used in digital cellular as well as wireless 3G, 4G and IEEE 802-related products and networks.
Qualcomm Incorporated (QCOM - Free Report) , carrying a Zacks Rank #2 at present, delivered a trailing four-quarter average earnings surprise of 2.23%. In the last reported quarter, it delivered an earnings surprise of 5.21%.
It designs, manufactures and markets digital wireless telecom products and services based on the Code Division Multiple Access (CDMA) technology. The products include CDMA-based integrated circuits and system software for wireless voice and data communications, as well as global positioning system products.