Workday Named a Leader in Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises for Fourth Year in a Row

We’re delighted to announce that Workday has been recognized as a Leader in the 2020 Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises based on our ability to execute and completeness of vision. 

This is the fourth year in a row we’ve received this recognition from Gartner, and we believe that Workday’s ability to achieve this recognition year after year is based on our intensive focus on delivering world-class customer service and our reputation as a trusted global partner. Also, in our view, the key to our Magic Quadrant Leader recognition is our ability to continuously innovate and deliver functionality, which helps our customers easily manage ongoing disruption and helps their finance teams transform.

Our enduring mission of enabling finance transformation through the power of data has grown into a cohesive vision for the office of the CFO. Workday Financial Management provides a mature, comprehensive enterprise solution capable of addressing complex workstreams. 

We also know that the office of the CFO has a broad set of responsibilities. That’s why our product vision includes Workday Adaptive Planning, Workday Prism Analytics, and Scout RFP, which when combined with Workday Financial Management, provide organizations with the agility, insight, and efficacy to thrive in a changing world.

Setting the Standard for Customer Service and Experience

During challenging times, businesses need a trusted partner, and for Workday, that means never shifting from our core values. It means helping our customers face economic uncertainty, industry disruption, and new ways of working head on, with intelligently automated processes, access to deeper insights, and greater agility. Most importantly, it means doing what is right for our customers.

Customer success has always been a core value for Workday, and we’re proud of our current 97% customer satisfaction rating. But we know the work is never done, and we continue to work with customers to better understand how we can help them get the most value out of Workday Financial Management, no matter where they are in their lifecycle. 

Last year, Workday appointed Emily McEvilly as our chief customer officer, bringing our Professional Services, Education Services, Customer Success, and Customer Support teams together to form a new Customer Experience organization. This connects the teams most responsible for customer touchpoints under the same umbrella, enabling us to further break down internal silos and improve the level of service we deliver.

Delivering Continuous Product Improvement

Businesses are increasingly looking to finance to deliver greater insight in support of more accurate decision making as well as the agility to react to persistent change. Workday continues to make significant investments in emerging technologies, such as machine learning, which will automate routine tasks, reconcile accounting, match transactions, and detect anomalies. Based on customer feedback and ongoing product development we delivered over 340 features and enhancements to Workday Financial Management customers in 2019. 

We’ve heard from customers that they want reporting to be easy, which is why we’ve made significant investments to deliver better reporting. Whether it’s a chart, table, financial report, or scorecard, Discovery Boards provide a single canvas for analysis, all secured in Workday.  And they’re available to all customers, at no additional cost.

Leveraging the power of machine learning to simplify and automate the office of finance remains a big area of focus for Workday. One feature, journal insights, currently in limited availability, automatically surfaces detected anomalies in journal entries, dramatically reducing the time and effort spent by the accounting team to close the books. 

Finally, we have seen significant interest in Workday Accounting Center, resulting in a growing number of early adopter customers.  Accounting Center enables customers to ingest high volume, mission critical operational transactions from external systems and automatically generate accounting entries for those transactions. Workday Accounting Center will provide finance with visibility into the detailed source transactions to drive data-driven decisions. 

Executing on Our Vision for the Office of the CFO

Great customer experience coupled with innovative product capabilities leads to great customer relationships, and we’re honored that global organizations, including Brown University, Georgetown University, Equiniti, and Panera Bread have selected Workday Financial Management. We now have over 900 Workday Financial Management customers, operating in more than 80 countries. And we continue to innovate to help even more businesses face the challenges of a changing world.

The business landscape in 2020 and beyond is anything but clear, and Workday will continue to partner with organizations across the globe to help prepare their businesses for a changing world. We will continue to innovate and enhance our solutions for the office of the CFO to increase agility, insights, and efficacy and lead the business through whatever challenges it may face.

Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises, Analyst(s): Robert Anderson, John Van Decker, Greg Leiter, 29 June 2020

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