We’re excited to be recognised as a Leader in this report once again. Workday Illuminate reflects our relentless commitment to innovation around how we deliver AI across the Workday platform to empower our customers with increased efficiency and deeper insights, unlocking the ability to seize new opportunities for growth.
We’re thrilled to announce that Workday has been recognised as a Leader in the 2024 Gartner® Magic Quadrant™ for Cloud ERP for Service-Centric Enterprises1 based on our Completeness of Vision and our Ability to Execute.
It’s the third time Workday has been recognised since this report first published three years ago. We’ve also been recognised as a 2024 Gartner® Peer Insights™ Customers’ Choice in Cloud ERP for Service-Centric Enterprises.2 According to Gartner market share research, Workday had the highest market share in 2023 for ERP worldwide SaaS revenue at 19.6%.3
Workday provides a unique and powerful way to manage your money and people in one system. And the new AI capabilities we recently announced show how we continue to innovate in ways that boost efficiency, enable greater insights, and empower our customers to identify new pathways to growth and increased profitability.
Our customers agree. “The Workday platform checked all the boxes for our enterprise transformation program, enabling our global expansion,” says the CIO of Vertex.
It’s been a year of new successes for Workday and our customers. Earlier this year, Workday was added to the Fortune 500 list for the first time. Over the past three years, adoption of Workday has increased by over 30% across service-centric industries—and even more in specific industries like professional services and public sector—driven by the adoption of our core financial management system. Workday Accounting Center has seen 40% year-over-year growth in our most recent fiscal year—our biggest year yet for customers putting Workday at the heart of their finance transformation journey.
To be clear, our ERP customers are those using Workday Financial Management, Workday Human Capital Management (HCM), and Workday Spend Management. When combining these powerful applications suites, Workday customers are producing faster results and fueling better insights—important factors for service-centric businesses.
We uniquely deliver value to service-centric organisations in four key ways.
We help organisations integrate their external systems. As part of our ecosystem strategy, customers can integrate third-party, industry-specific data, such as point-of-sale systems for retailers, claims databases for insurance companies, or loan systems for banks. We retain the operational detail that provides context and remains visible, auditable, and reportable. Workday Accounting Center transforms that data into detailed accounting entries, creating a single source for accounting and a trusted source of truth for the business.
We’re hyper-automating core accounting and procurement processes. With rules-based automation and AI, we are transforming the way accounting and procurement teams work, eliminating inefficient and manual effort wherever possible while addressing the unique requirements of both goods and services spend.
We empower organisations to elevate their people. Service-centric businesses succeed based on the services and results delivered by their biggest assets—their people. To achieve this, Workday HCM enables customers to elevate their people. For example, Workday Peakon Employee Voice offers a real-time view into sentiment within the business, Workday Talent Optimisation helps align employee goals and organisational objectives, and HiredScore enables recruiters to hire smarter and faster.
We deliver deeper insights for confident decision-making. Knowledge is power, and Workday has an unrivaled approach to data management, fueling the granularity needed to drive analysis, forecasting, and informed decision-making leading to the best outcomes. Because this rich data source has been vetted by accounting and is used for financial reporting, it is the most granular and trusted source of data compared to any other ERP on the market. And by applying AI to this data, customers can predict the best outcomes, shaping the future of their business. For instance, with Workday Adaptive Planning, customers can create strategic plans across the business, while Workday Financial Management intelligently automates finance processes and provides deeper insights so that more time can be spent on analysis and action.
And we’re not done.
We’re excited by the continued innovation Workday Illuminate offers, the next generation of Workday AI that accelerates manual tasks, assists every employee, and ultimately transforms entire business processes.
Last month, we announced four new AI agents—Recruiter Agent, Expenses Agent, Succession Agent, and the Workday Optimise Agent—to supercharge the way organisations handle crucial tasks. This technology enables a profound shift that redefines how finance, HR, IT, and procurement organisations operate and represents the next stage of enterprise AI—propelling the industry from disparate AI features to end-to-end business process transformation.
Our acquisition of Evisort, which uses AI to surface actionable insights from complex legal and business documents, will help organisations find vital information to increase revenue, reduce expenses, and mitigate risk.
And as part of our comprehensive focus on ensuring our customers’ success and making sure they get the most out of Workday, we recently expanded the Workday Industry Accelerator program. This program brings together our global partners with industry expertise—such as Accenture, Deloitte, KPMG, and PwC—to help customers get up to speed and realise value faster.
Additionally, the growing Workday Community—whose members include customers, users, and developers—exists as a resource to share ideas and best practices through a variety of collaboration tools such as forums and user groups. And Workday Extend provides a low-code environment so customers can create their own apps to better manage their data and boost efficiency.
All of these are ways in which Workday moves businesses forever forward.
“By having Workday HCM, Workday Financial Management, and Workday Procurement, we’re able to start speaking the same language. That allows us to increase our efficiencies and innovate,” according to the City of Denver controller.
Results like this are possible because we make it easy to integrate and interoperate with industry best-in-class systems, creating the most composable solution to meet the unique needs of each customer. As a result, our customers have access to more granular insights from a rich dataset.
In short, with better data comes better decision-making.
Workday operates in more than 160 countries with core financials and HR solutions that have over 65 million users—and growing. We have more than 2,150 customers headquartered in Europe and more than 925 customers headquartered in Asia Pacific and Japan, which is proof positive we can handle the varying and complex regulatory requirements across these regions.
Our “global at the core” strategy includes local configurations enabling customers to comply with local statutory financial reporting requirements on day one. Workday is highly configurable for customers to adapt and address additional local requirements—notable as we invest in our deepening support for customers in France, Germany, and Australia.
At the same time, we understand that data security and privacy measures can help build trust, which encourages greater adoption and use of AI and machine learning technologies. We employ industry-leading measures across our people, processes, and technology to safeguard your data, applications, and infrastructure. And our compliance program consists of third-party audits and international certifications designed to provide data security, protect against security threats or data breaches, and prevent unauthorized access to your data.
With our relentless commitment to innovation, powerful AI technologies, and focus on privacy and security, Workday is unique in its ability to enable our customers to manage their organisations with increased efficiency and deeper insights—unlocking greater opportunities for growth. And we’re excited to help them move forever forward.
Read the complimentary “Gartner Magic Quadrant for Services-Centric ERP” report.
1Gartner® Magic Quadrant for Cloud ERP for Service-Centric Enterprises, Robert Anderson, Denis Torii, Sam Grinter, Naveen Mahendra, Tomas Kienast, Johan Jartelius, 4 November 2024
2“Gartner® Voice of the Customer for Cloud ERP for Service-Centric Enterprises,” Peer Contributors; 30 January 2024.
3“Gartner® Market Share: Enterprise Application Software as a Service, Worldwide, 2023,” Varsha Mehta, Neha Gupta, Chris Pang, Craig Roth, Jim Hare, Julian Poulter, Balaji Abbabatulla, Kevin Quinn, Roland Johnson, Radu Miclaus, Alexandre Oddos, Amarendra ., Anand Chouksey, Mudit Sharma, Kanchi Bindal; 14 June 2024.
Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.
GARTNER is a registered trademark and service mark, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
Learn why we’ve been named a Leader in the 2024 Gartner® Magic Quadrant™ for Cloud ERP for Service-Centric Enterprises and how organisations can manage their people and their money in one system.
Finance leaders are ready for the top job, but what skills are needed for the transition?
More Reading
Finance leaders who devote resources to a few key elements will be well positioned to elevate their roles to that of a futurist, according to a new eBook from Workday.
Financial services has been using AI for years, but what’s the next step with this transformative technology? Nicole Carrillo, managing director of financial services at Workday, talks with PwC’s Vikas Agarwal about everything AI in this installment of our podcast series, Shift: Moving Financial Services Forward.
If there’s one thing about financial services regulation that never changes, it’s the fact that regulation always changes. In this installment of our podcast series Shift: Moving Financial Services Forward, we talk about not just keeping up with regulation, but making it work to create value for financial services organisations.