Workday Named a Leader in the 2022 Gartner Magic Quadrant for Cloud ERP for Service-Centric Enterprises

We’re thrilled to announce that Workday has been recognized as a Leader in the first-ever 2022 Gartner® Magic Quadrant™ for Cloud ERP for Service-Centric Enterprises¹ based on our completeness of vision and our ability to execute.

This recognition in the newly created category builds on our five consecutive years as a Leader in the Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises.² And it builds on our six years in a row as a Leader in the Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises.³ We believe our positioning reflects our role as a trusted global partner for the office of the CFO and the broader C-suite.

We have a clear vision for the future of enterprise software that’s demonstrated with Workday Enterprise Management Cloud. Our unique approach combines best-in-class applications, an extensible platform, and an unparalleled customer experience.  

Workday is a leading cloud solution for service-centric industries, including education, government, healthcare, banking and capital markets, insurance, professional services, business services, retail, hospitality, technology, media, engineering, architecture and construction, and transportation and energy. Our financial management, human capital management, planning, and procurement solutions empower business leaders to play a more significant role in solving their biggest challenges, such as revenue optimization, margin expansion, talent recruitment and retention, supply chain management, cost containment, and business risk mitigation.

By going beyond the boundaries of traditional enterprise resource planning (ERP), our more than 9,500 customers deployed in over 175 countries use Workday to transform the way their organizations operate. In fact, according to Gartner, Workday had the largest market share in 2021 for ERP worldwide SaaS revenue at 19.1% and the largest revenue growth increase between 2020 and 2021 at $738 million, a 19.8% increase.⁴

Providing Insights Across the C-Suite

For finance leaders, 2022 continues to challenge organizations and their C-suites around the globe with rising interest rates and inflation, lingering effects of the COVID-19 pandemic, and geopolitical instability. Those who have truly embraced digital transformation and enhanced their ability to adapt amid uncertain circumstances are poised to outperform their peers in the years ahead.

Workday Enterprise Management Cloud goes beyond traditional, rigid, and siloed ERP systems. With our future-ready solutions, customers gain the ability to run effective service-centric businesses by combining people, finance, and operational data from across the enterprise into an intelligent data core, which empowers organizations to make better, more holistic data-driven decisions that factor in profitability, people, and purpose.

As part of our integrated enterprise solution, Workday Financial Management provides a way to collect and analyze data. Workday Prism Analytics accelerates the management and transformation of data for reporting, analytics, or planning use cases, while Workday Adaptive Planning enables customers to better plan, execute, and analyze across the enterprise for a more informed financial planning and analysis (FP&A) process. And Workday Human Capital Management (HCM) helps organizations strategically manage their most valuable asset, keep a pulse on employee sentiment, and adapt to the changing world of work. 

By serving as a digital backbone for service-centric industries, Workday delivers robust, global solutions for the office of the CFO and CHRO, including: 

• Providing industry-specific capabilities, such as funds transfer pricing for banks, cost and profitability insights for healthcare, and project management metrics for professional and business services.
• Connecting to best-of-breed industry systems, such as patient systems for healthcare or policy and claims systems for insurance companies.

Our integrated solutions enable finance, human resources (HR), and operational leaders to gain key insights by automatically combining data from industry-specific operational systems and HCM and financial management systems, as well as information from other third-party sources, such as weather, ratings, and government-reported data, to get a full picture of enterprise performance.

For international design, engineering, and advisory company Aurecon, the ability to extract insights from a data-rich environment helped add value to the management decision-making process. “Workday puts the client or the project in the center of our business, capturing all the data we need to achieve better outcomes for our clients,” says Andrew Muller, CFO at Aurecon. “We’ve always had plenty of data, especially now we’re getting more involved with digital engineering. Now we can use that data to support quality, fact-based decisions.”

Adapt Business Strategies to Match the Speed of Change 

Born in the cloud, Workday was built to adapt. Our cloud-based platform is open and extensible yet secure, making it possible to interoperate with other systems, compose the right combination of solutions, and foster the development of new capabilities whether they’re developed by Workday, partners, or customers. 

Anna Tian, financial systems manager at ChenMed, describes benefits the healthcare organization has experienced using Workday Enterprise Management Cloud. The automation features within Workday Financial Management have improved operational efficiency and helped put ChenMed on track toward the brighter future it envisioned. “With automatic data collection and transparency enabled by Workday, we can have a true supply chain management team. Invoice matching, payments, and other steps happen almost without human intervention,” Tian says. “This kind of efficiency is critical for the growth goals we’ve set for the next four to five years, and Workday allows us to continue to scale and support that accelerated growth.”

With Workday Adaptive Planning, our flexible and easy-to-use enterprise planning solution, leaders have continuously updated data with which to carry out scenario planning, as well as inform budgeting, workforce, sales, and operational strategies.

ABC Fitness Solutions Vice President of Finance Jennifer Mitchell sees Workday as key to the company’s accounting and FP&A capabilities. “It’s all proactively positioning us for efficient, scalable, and profitable long-term growth,” she says. “Having made three acquisitions just last year, we needed more efficient integrations like what Workday has enabled.”

In addition to the extensive functionality built into Workday, we offer the ability to quickly and securely develop industry-specific applications within the Workday platform through our adaptable and native cloud architecture. Whether it’s providing suppliers direct access to enter purchase order requests or implementing a vaccine management program, customers can easily build to meet their unique business requirements with Workday Extend.

Unlocking the Potential of Employees

Managing people, who often represent the biggest cost and greatest source of innovation for a service-centric organization, is critical to success. With Workday HCM, HR leaders can efficiently and comprehensively address the challenges arising from the changing nature of work. As the past few years have shown, organizations that value their people must consider effective ways to achieve talent acquisition, retention, and optimization goals—now and into the future. 

With Workday, employees are empowered to drive their own development and career advancement, improving retention and reducing attrition. Our global customers continue to reap the benefits of our investment in skills, with more than 1,200 customers using Workday Skills Cloud to attract, manage, and retain talent. Additionally, Workday Peakon Employee Voice provides insight into employee sentiment, addressing concerns and moving toward solutions before they become serious problems. 

And with Workday, employees have innovative technology and automation tools at their disposal, not to mention continuous access to data, to focus on deeper, more relevant insights. That gives finance leaders better perspective into shareholder value and contributes to a positive employee experience, enabling them to drive their organizations—and their careers—forward.

London-based Alfa Financial has recognized the value of integrating data streams—and counts on Workday Enterprise Management Cloud to fuel future growth.

“Workday has enabled our finance and HR teams to streamline previously manual, time-consuming processes and has given us a real-time, holistic view of our business,” says Alfa Financial. “As we continue to grow, so has our need to attract and retain talent in a competitive market, so ensuring a smooth recruitment and onboarding process through to longer-term talent development is critical to our success. We are delighted that Workday is supporting our growth ambitions.”

Driving Global Organizations Forward

Customers comprising more than 50% of the Fortune 500 have selected Workday to help drive their digital acceleration, growth, and business goals. Internationally, we are doubling down in our go-to-market efforts across key geographic regions, specifically the United Kingdom, France, Germany, and Australia. We have made significant global product investments and expanded our international partner ecosystem. 

Whether our customers are in financial services, professional services, technology and media, retail, healthcare, higher education, or the public sector, Workday can accelerate business transformation in complex ERP environments, no matter what level of transformation our customers need. As an example, we have customers around the globe who are leveraging 55 country-specific configurations to address local tax and reporting requirements. And we continue to add new configurations with each release.  

Our Steadfast Commitment to Our Customers 

Our commitments to delivering an exceptional customer experience and continuous innovation are helping a diverse range of industries and sectors. So, it’s no surprise our customers love Workday: Our 97% customer satisfaction rate is one of the reasons we have a 98% gross retention rate in our 2021 annual Customer Satisfaction Survey. Workday has also been recognized as a 2022 Gartner® Peer Insights™ Customers’ Choice for Cloud HCM Suites for 1,000+ Employee Enterprises⁵ and a 2021 Gartner® Peer Insights™ Customers’ Choice for Cloud Core Financial Management Suites for Midsize, Large, and Global Enterprises,⁶ the the most recent year this recognition was given. 

Jenn Kelly, financial controller at the PGA of America, says, “Our biggest challenges were slowing down, identifying all our requirements, not trying to control everything, and trusting the Workday methodology that our partners from Workday Professional Services shared with us.”

And while we’re proud of our success, we know that it isn’t possible without our customers and partners, which is why we continue to innovate our products and solutions and add new ways for organizations to get value from Workday. As the future promises to continue presenting new challenges, we look forward to welcoming more organizations into the Workday community and providing them with the tools needed to succeed in a changing world.

^{1 Gartner Magic Quadrant for Cloud ERP for Service-Centric Enterprises, John Van Decker, Denis Torii, Tim Faith, Sam Grinter, Patrick Connaughton, 12 July 2022}

^{2 Gartner Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises, John Van Decker, Greg Leiter, Robert Anderson, 10 May 2021}

^{3 Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises, Sam Grinter, Chris Pang, Jeff Freyermuth, Ron Hanscome, Helen Poitevin, Ranadip Chandra, and John Kostoulas. 19 October 2021}

^{4 Charts/graphics created by Workday based on Gartner research. Gartner® Market Share: Enterprise Application Software as a Service, Worldwide, 2021, Neha Gupta, Yanna Dharmasthira, Chris Pang, Craig Roth, Jim Hare, Alys Woodward, Julian Poulter, Balaji Abbabatulla, Eric Hunter, Kevin Quinn, Amarendra ., Kanchi Bindal, Abhilash Khalkar, Mudit Sharma, Radu Miclaus, Roland Johnson, 19 May 2022}

^{5 Gartner, Gartner Peer Insights ‘Voice of the Customer’: Cloud HCM Suites for 1,000+ Employee Enterprises, By Peer Contributors, 28 April 2022}

^{6 Gartner, Gartner Peer Insights ‘Voice of the Customer’: Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises, By Peer Contributors, 27 October 2021}

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