While most of my time is spent with the Workday Financial Management development team, in recent months I’ve also spent a good amount of time outside the office. At events we hosted or participated in, I had great conversations with customers, partners, and prospective customers, many of whom are CFOs. I listened to CFOs talk about the complexity of managing mergers and acquisitions (M&A) as well as the ongoing challenges of the everyday task of reporting.
With every Workday update, we ask ourselves the same question: How can we meet the requirements of large enterprise customers in a way that's simpler, faster, and smarter? Below I highlight several new features in Workday 22, announced today, that demonstrate how we're delivering on that promise. It's just a sample of all the new functionality we've added to Workday Financial Management in this update—including more than 25 major new features—and as always, our customers have the flexibility to "turn on" any feature at their convenience.
In a new study by Saugatuck Technology, 57% of 271 senior finance and technology executives surveyed said they believe cloud/SaaS financial management systems are already replacing on-premise systems, or will replace them within two years.
We recently announced Workday 19, which delivers great new capabilities in Workday Financial Management. I'm particularly excited about our continued work in the area of embedded analytics, a unique offering from Workday that demonstrates—and delivers on—our focus on innovation.