Workday Named a Leader in Gartner Magic Quadrant for Cloud Financial Planning & Analysis Solutions

October 12, 2020 - 05:13
Workday Named a Leader in Gartner Magic Quadrant for Cloud Financial Planning & Analysis Solutions

Positioned as a Leader for Fourth Year in a Row Based on Completeness of Vision and Ability to Execute


SINGAPORE - Media OutReach - 12 October2020 - Workday(NASDAQ:WDAY), a leader inenterprise cloud applications for finance and humanresources,today announced it has been positioned by Gartner, Inc. in the Leaders quadrantof the 2020Gartner Magic Quadrant for Cloud FinancialPlanning & Analysis1 for the fourth year ina row. 

Today's business environment requires continuous planningto adapt to ever-changing economic, health, and geopolitical impacts. As aresult, finance leaders are turning to Workday to help them model, forecast,and analyze their business with a proven planning solution. WorkdayAdaptive Planning delivers powerful modeling that's easy to use,allowing customers to embrace enterprise-wide planning for greater agility. Todate, it has been selected by more than 5,300 customers, including AmericanFamily Insurance, Denny's, IBM, Microsoft, and South Shore Health, to managetheir financial, sales, workforce, and/or operational planning in the cloud.   

Choice and Flexibility to AcceleratePlanning   

Workday is committed to delivering best-in-class enterpriseplanning as both a standalone solution and as an integral part of the Workdaysuite, accelerating the adoption of planning in companies of all sizes bygiving customers choice and flexibility for their digital financetransformation. For customers choosing standalone planning, Workday AdaptivePlanning has proven integrations with hundreds of human capital management(HCM), enterprise resource planning (ERP), and customer relationship management(CRM) systems, as well as commercial and proprietary data warehouses. Thismeans that financial and operational data easily combine into a single sourcefor truth for company-wide planning.

For customers choosing WorkdayAdaptive Planning as part of a larger finance transformation, Workdayoffers a broad portfolio of finance applications serving the office of the CFO,including WorkdayFinancial ManagementWorkdayPrism AnalyticsWorkdayAccounting Center, and solutionsfor spend management. Together they deliver a deep and comprehensive system forenterprise planning and analysis, record to report, contract to cash, andsource to pay, enabling customers to streamline financial processes and operatewith agility in today's changing world.

Continuous Focus on Enterprise PlanningInnovation 

Workday is continually investing in enterprise planning tosupport customers as they face unprecedented challenges in planning for anuncertain future. Specific advances include:

  • Continuousproduct innovation. Over the pastyear, new Workday Adaptive Planning product features and capabilities havefocused on machine learning, visualization, and integration. With featurereleases automatically delivered twice annually along with weekly updates,these innovations continue the flagship ease of use of Workday AdaptivePlanning, while delivering even more sophisticated modeling capabilities andnew levels of visibility into enterprise performance. Customers can now automatically detect errors in planning assumptions, interactively seechanges in charts and graphs with data changes, and easily deliver plansacross the organization with the click of a button.
  • Enterprisescalability. Workday Adaptive Planning continuesto scale to support large enterprise customers for company-wide modeling andplanning. The solution's in-memory engine supports virtually unlimiteddimensions, ideal for customers with demanding, global operations, particularlyin the current climate when detailed planning for a broad range of scenarios isrequired. Additionally, Workday has certified a number of large Partners onWorkday Adaptive Planning, including Accenture, Deloitte, and KPMG, furtherexpanding implementation options available for customers. These organizationsoffer support and services tailored for large enterprises transitioning tocloud infrastructure. 
  • Returnto work solutions. Finance and HRleaders are in a critical position to help assess the options and impactsassociated with returning to work, including how the business can grow andreact differently in the future.Workday is delivering return to work solutions,which include workforce planning, return to the workplace planning, andfinancial planning solutions that enable customers to operate with agilityduring this time of uncertainty.


Customer Recognition 

Gartner Peer Insights documents customer experience through verifiedratings and peer reviews. As of October 6, 2020, Workday customer reviewsaverage a score of 4.9 out of 5 based on 22 reviews for the CloudFinancial Planning and Analysis Solutions market and include the following:


  • "Outstanding planning tool--best inclass and ahead of competitors," -- senior finance director, healthcare industry[read full review]
  • "Adaptive Insights brings to thetable a financial planning solution with many guardrails out of the box thatstreamlines implementation. Data integration with external sources proved to bestraightforward and works without glitch." --  senior finance manager,services industry [read full review]

Comments on the News

"The role of planning seemingly changed overnight with theimpact of the pandemic, turning enterprise planning processes intomission-critical functions," said Kshitij Dayal, general manager, PlanningProducts, Workday. "Whether standalone or as part of the Workday suite, WorkdayAdaptive Planning scales with companies to help our customers achieve thebusiness agility today's environment demands. We believe being named a Leaderin Gartner's Magic Quadrant for Cloud Financial Planning & Analysis Solutionsis based on our ability to deliver a powerful solution that supports acontinuous planning process for the largest of enterprises."

"WhenCOVID struck, we saw a nearly 50 percent drop in patient revenue within onemonth's time, due to plummeting ER volumes and cancellations of electivesurgeries," said Alex Dali, CFO, of ApolloMD, a leader in the clinicaloutsourcing services industry. "Fortunately, ApolloMD had already moved to acontinuous planning process using Workday Adaptive Planning. Our team went fromflat-footed to nimble in no time, moving into rapid-fire scenario planning tokeep up with changing operational conditions, enabling ApolloMD toconfidently make key business decisions."

"COVID has accelerated the move to the cloud for many ofour clients, with planning emerging as one of the top priorities for digitaltransformation," said Jason Dess, national strategy and operations financeleader at Deloitte. "Companies recognize that having a single planning systemin the cloud gives large organizations a level of visibility and agility thatcan't be matched with legacy tools. Adding Workday Adaptive Planning toour practice allows us to offer clients a leading planning solution that can beexpanded companywide, scaling both in size and across multiple functions."


Additional Information


1Gartner"Magic Quadrant for Cloud Financial Planning & Analysis," by RobertAnderson, Greg Leiter, John Van Decker, 6 October 2020.Previously listed asAdaptive Insights since Workday announced its acquisition of the companyin June 2018.


2AdaptiveInsights is now called Workday Adaptive Planning as of May 2020.


Gartner Disclaimer:

Gartner does not endorse any vendor, product or servicedepicted in our research publications, and does not advise technology users toselect only those vendors with the highest ratings or other designation.Gartner research publications consist of the opinions of Gartner's researchorganization and should not be construed as statements of fact. Gartnerdisclaims all warranties, expressed or implied, with respect to this research,including any warranties of merchantability or fitness for a particularpurpose.


Gartner Peer Insights reviews constitute the subjectiveopinions of individual end users based on their own experiences and do not representthe views of Gartner or its affiliates.

About Workday

Workday is aleading provider of enterprise cloud applications for finance and human resources.Founded in 2005, Workday delivers financial management, human capitalmanagement, planning, and analytics applications designed for the world'slargest companies, educational institutions, and government agencies.Organizations ranging from medium-sized businesses to Fortune 50enterprises have selected Workday.

Forward-Looking Statements

This press release contains forward-looking statementsincluding, among other things, statements regarding the expected performanceand benefits of Workday's offerings. The words "believe," "may," "will,""estimate," "continue," "anticipate," "intend," "expect," "seek," "plan,""project," and similar expressions are intended to identify forward-lookingstatements. These forward-looking statements are subject to risks,uncertainties, and assumptions. If the risks materialize or assumptionsprove incorrect, actual results could differ materially from the resultsimplied by these forward-looking statements. Risks include, but are not limitedto, risks described in our filings with the Securities and Exchange Commission("SEC"), including our Form 10-Q for the fiscal quarter ended July 31, 2020,and our future reports that we may file with the SEC from time to time, whichcould 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.

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