Workday positioned in the Leaders Quadrant of first-ever Gartner Magic Quadrant for cloud core financial management suites for midsize, large, and global enterprises

23rd June 2017

Workday, Inc. a provider of enterprise cloud applications for finance and human resources, says it has been positioned by Gartner, Inc. in the Leaders quadrant of the first-ever Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises.  Workday was recognised as a leader based on its ability to execute and completeness of vision.

 

 

 

The new quadrant reflects the growing popularity of core financial management applications in the cloud as distinct from broader ERP products that happen to include financial management capability as part of a suite of applications. 

Workday is only one of two applications placed in the leaders’ quadrant alongside Oracle ERP cloud.   Oracle NetSuite (Oracle’s recent acquisition and alternative offering) lies just outside the leaders quadrant. 

In the last three years, Workday’s financial management customer community has tripled in size, with organisations including Aon, plc., Cushman & Wakefield, and Netflix, realising the power of a cloud-based finance system. Workday has also invested in extending the benefits of its finance system with the addition of new products including Workday Planning, believed to be the first planning, budgeting, and forecasting application that allows customers to continuously and collaboratively plan within their core accounting system of record. In addition, Workday recently unveiled Workday Financial Performance Management, which provides the flexibility to consolidate, close, report, and plan without having to replace a company’s general ledger. 

Commenting on the announcement, Betsy Bland, vice president, financial management products, Workday said, “We believe Gartner’s recognition of Workday as a cloud financial management leader further validates our delivery of a truly differentiated product that gives customers the finance tools they need to lead with certainty and drive competitive advantage.” 

She added, “From day one, Workday disrupted the industry with a relentless focus on customer satisfaction. This commitment, in combination with our true cloud foundation, enables us to stay ahead of customers’ needs so they can navigate an increasingly complex financial environment while continuing to grow their business globally.”

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