Data and Machine Learning Innovations Enable Greater Operational Efficiencies and Faster, More Strategic Decision-Making to Help Boost Business Agility

SINGAPORE - Media OutReach - 16 October 2019 - Workday Inc. (NASDAQ: WDAY), a leader inenterprise cloud applications for finance and human resources, today unveiled new advancements across WorkdayFinancial Management and the Adaptive Insights Business Planning Cloud to helpenterprise customers better navigate the changing world of finance. 

At Workday Rising, the company's annual customer conference, Workday highlightedhow organizations will be able to reimagine their businesses with a newapplication, Workday Accounting Center, and machine learning-poweredcapabilities such as anomaly detection for accounting entries. Leveraging the Power of One--one source for data, one securitymodel, one user experience, and one community--Workday is uniquely suited todeliver solutions to help enterprise customers streamline financial processesand make faster, data-driven decisions.

With Workday, businesseshave a singlesystem to plan, execute, analyze, and extend--powered by machine learning, andbacked by an unwavering commitment to customer service. Using advancedanalytics to surface trends and insights, and machine learning to automatemanual processes and save time, Workday continuously innovates so organizationscan increase their business agility.

Innovationsto Transform Finance and Planning

Today'schief financial officers (CFOs) and finance leaders are faced with constantchange and new challenges in a rapidly-evolving environment driven bytechnological advancements, shifting business models, and new competitors. Thisleads to mounting pressure to innovate faster, provide more accurate forecasts,and deliver insights that will help the business quickly respond and adapt tomarket changes. With these new responsibilities at hand, CFOs find themselvesin the driver's seat of navigating organizational transformation. 

With new solutions announcedat Workday Rising, customers are able to:

StreamlineAccounting Processes With External and Internal Data

Workdaywill help business users better manage the end-to-end process of creatingjournal entries and reporting on enriched data from sources outside ofWorkday--all in one centralized solution. 

• WorkdayAccounting Center, a new applicationbuilt on Workday Prism Analytics, will extend the power of Workday FinancialManagement to give users greater ability to manage operational data frommultiple sources with a single point of control across the enterprise. Forexample, with Workday Accounting Center, an insurance company will be able toload its operational transactions--such as claims or policy data--into the system, create accounting (journal) entries for thosetransactions, and then report and analyze on those transactions with full datalineage. 

Automate Labor-IntensiveProcesses With Machine Learning 

Workday leverages datascience capabilities, which span state-of-the-art neural networks and classicmachine learning techniques, to intelligently automate traditionallylabor-intensive finance processes. With this approach to machine learning, thesystem is able to better understand the relationships between financialentities. For example, it can learn about the relationships between costcenters, spend categories, projects, regions, currencies, and more tounderstand that expenses like taxis, airfare, and hotels are all related. Thisapproach enables various features that help save time and resources,including: 

• Journalinsights, a new feature forWorkday Financial Management customers, can detect anomalies in accountingentries by comparing them to other entries for similar transactions. Thisenables accounting teams to identify anomalies as they occur, so they cancorrect reconciliation issues as they happen rather than during the crunch ofmonth-end close.
• Supplierinvoice automation, a new capability forWorkday Financial Management customers, routes invoices that require attentionto specific workers based on past assignments and efficiency with similarwork. In its initial release, supplier invoice automation uses rules-basedwork queues and header-level scanning to direct invoices to the right person. 
• Expensesvia natural workspacesmakes it possible to enter expenses in Workday using the Workday for Slackintegration. For example, when an employee uploads an image or photograph of areceipt in Slack, Workday Expenses applies optical character recognition (OCR)to automatically identify critical data, such as the amount to be reimbursed,for the user to confirm before submitting for approval. 
• Anomalydetection for plans, a new machinelearning-driven capability in Adaptive Insights Business Planning Cloud, willenable customers to catch potential data entry errors in plans whether they arebudgets, forecasts, or scenarios. This feature uses machine learning to analyzepast data to detect anomalies, taking into account seasonality and otherhistorical variations and trends, and alerts users of potential errors. 

MakeFaster, More Informed Decisions

Every user can beempowered to make smarter, data-driven decisions with operational insights thebusiness needs, and capabilities that enable a more seamless transition fromplanning to execution.

• Discovery Boards, a drag-and-drop datadiscovery feature originally available aspart of Workday Prism Analytics, will be made available to all WorkdayFinancial Management customers as part of their subscription. These enable users toquickly visualize data to understand their financials, detect patterns, anddiscover insights. For example, financial planning and analysis (FP&A) oraccounting teams can leverage Discovery Boards to uncover trends in revenue orexpenses, and then analyze by ledger account, cost center, or any otherdimension in their data sources. Through charts and pivot tables, they can seetrends by product or by region, and perform detailed variance analysis.
• Plan to execute, a new planning capabilityavailable to customers using AdaptiveInsights Business Planning Cloud and Workday Financial Management, is a key step in the journey to unify Adaptive Insightswith Workday. With this deeperunification, FP&A professionals can publish their budget plans in Workday,giving the budget owners the ability to compare spend to plan and automatespend controls according to the approved budget.

Comment on the News

"As the finance functioncontinues to evolve, CFOs and finance leaders are looking for tools that willhelp their teams focus on more strategic work and innovate in a way thatenhances revenue," said Barbara Larson, general manager, Workday FinancialManagement. "Workday is weaving new technologies such as machine learning andadvanced analytics into every aspect of our accounting and finance solutions tosave time and enable faster, data-driven decisions. By creating moreefficiencies across the board, we can help drive agility and immediate businessvalue for our customers' benefit."

Additional Information 

• See how Workday isinnovating for the changing world of finance.
• Read the blog "Machine Learning Across Workday Products: Delivering UndeniableBusiness Value to Customers" bySayan Chakraborty, senior vice president, tools and technology, Workday.
• See how Workday ishelping organizations get ahead, and stay ahead, in the changing world of IT.

Availability 

All products andfeatures are available or planned for availability in the next calendar year.

About Workday

Workday is a leading provider ofenterprise cloud applications for finance and humanresources. Founded in 2005, Workdaydelivers financial management, human capital management, planning, andanalytics applications designed for the world's largest companies,educational institutions, and government agencies. Organizations ranging frommedium-sized businesses to Fortune 50 enterprises have selected Workday.

Forward-LookingStatements

This press release containsforward-looking statements including, among other things, statements regardingthe expected performance and benefits of Workday's offerings. The words"believe," "may," "will," "estimate," "continue," "anticipate," "intend,""expect," "seek," "plan," "project," and similar expressions are intended toidentify forward-looking statements. These forward-looking statements aresubject to risks, uncertainties, and assumptions. If the risks materialize orassumptions prove incorrect, actual results could differ materially from theresults implied by these forward-looking statements. Risks include, but are notlimited to, risks described in our filings with the Securities and ExchangeCommission (SEC), including our Form 10-Q for the fiscal year ended July 31,2019 and our future reports that we may file with the SEC from time to time,which could cause actual results to vary from expectations. Workday assumes noobligation to, and does not currently intend to, update any suchforward-looking statements after the date of this release.

Any unreleased services,features, or functions referenced in this document, our website, or other pressreleases or public statements that are not currently available are subject tochange at Workday's discretion and may not be delivered as planned or at all.Customers who purchase Workday, Inc. services should make their purchasedecisions based upon services, features, and functions that are currently available.

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