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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