SOURCE: Workday, Inc.

December 15, 2008 11:00 ET

Workday Delivers Pay for Performance and Worker Spend Management

Manager- and Employee-Centered Applications to Build Performance and Optimize Workforce Spending

PLEASANTON, CA--(Marketwire - December 15, 2008) - Workday, Inc., the leader in on-demand enterprise solutions for human resources and business management, today announced two major new capabilities: Pay for Performance and Worker Spend Management. The new services, included in Workday Update 6, continue to extend Workday's global system-of-record for Human Capital Management (HCM), providing a master data repository for organizations' people, compensation, worker costs and business results. The company also announced its U.S. Payroll solution is now generally available.

Workday Company Update

Workday continues to grow, with 68 customers spanning mid-sized businesses to the Fortune 500. Close to 40 are in production, and all Workday customers are using the latest update.

Workday now has more than 320 employees and recently opened a new headquarters facility in Pleasanton, Calif. to accommodate long-term growth.

A recent Gartner survey showed Software-as-a-Service solutions continue to grow as an alternative to aging on-premise systems, with 9 out of 10 respondents indicating plans to maintain or grow their use of SaaS solutions. Key drivers cited included the lower total cost of ownership of SaaS and unmet performance expectations with on-premise solutions.

New in Workday Update 6

Workday continues to expand its HCM system-of-record to provide vital worker information to the business: who works here, what is the cost and what is the business impact? Specifically:

-- Providing a global system-of-record (master data repository) for organization, worker and compensation information,

-- Capturing and managing the spend on, by and for workers and

-- Linking business results and costs back to worker activity and performance.

Workday is delivering two new services with Update 6: Worker Spend Management and Pay for Performance. These capabilities support the day-to-day activities of the manager and employee, placing the focus on business results while effectively capturing the information required to support HR operational needs.

-- Worker Spend Management: Expenses, Procurement and Resource Management have historically been financial functions aimed at tracking and controlling enterprise spending. Tying spending activity and behavior to individual positions, people, workgroups, teams and business purpose has been impossible without expensive analytic solutions or manual spreadsheets. Workday's system-of-record means spending activity is automatically tied to workers and can be linked to projects or activities via Worktags, so managers and business leaders have a complete view of total worker cost including both compensation and the resources used to get work done.

-- Pay for Performance: Traditional Talent Management offerings have evolved as add-ons to legacy HRMS systems, creating new silos of information and an incomplete view of worker performance. Workday ties performance reviews, team performance and company performance to compensation, providing managers with recommended targets based on a broad range of configurable variables and business results. Decision and assessment support includes target vs. actual reporting and actionable analytics, enabling organizations and managers to achieve true performance-based rewards.

Workday Payroll for the U.S. is generally available with Update 6. First customers will be going live on Payroll in January 2009.

-- Workday Payroll delivers complete payroll processing coupled with Workday's Human Capital Management and Financial Management solutions. Built on an entirely new model, the system leverages a global calculation engine and payroll framework, allowing Workday to localize payroll for regions and countries without the expensive redevelopment efforts associated with traditional on-premise systems. Workday also delivers packaged integrations to outsourced payroll providers.

Also included in Workday's Update 6 is a significant expansion of the Workday Benefits Network, a set of pre-packaged integrations with popular benefits carriers. The Benefits Network now includes connections to 49 providers, with plans for 21 more by the end of this month.

Workday is now translated for 4 countries. Localization of HR personal information for close to 50 countries will be available in Workday Update 7 in Q1 2009.

Comments on the News

"Workday is focused on a global system-of-record for managing people and business because it lets us do some unique things, such as managing all types of spend associated with the worker or basing compensation on both individual performance and business results," said Mark Nittler, vice president of application strategy for Workday. "These common-sense approaches have either been impossible or at best extremely expensive with prior-generation solutions, requiring best-of-breed offerings, big integration projects or re-implementation. Workday capabilities are all part of a single global core, so taking advantage of them is seamless for our customers."

"In today's economy, pay for performance and spend management are urgent issues on the minds of HR and business leaders," said Josh Bersin, president and CEO of Bersin & Associates, a leader in talent management and enterprise learning research. "By providing a single platform that unifies HR, financial management, payroll, and talent management, Workday gives organizations a comprehensive view of worker performance and worker spend, all in the context of business results. That approach can go a long way to helping companies both reduce expenses and optimize compensation to drive business performance."


About Workday

Workday is the leader in on-demand enterprise solutions for human resources and business management, with more than 60 customers spanning from mid-sized to Fortune 500 businesses. Built on a completely new model, Workday Human Capital Management and Workday Business Management use the most modern, standards-based technologies to provide an unparalleled level of agility, ease-of-use, and integration capability, offering customers significantly lower total cost of ownership than on-premise solutions. For more information about Workday, please visit www.workday.com.

© 2008. Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. Workday Enterprise Business Services, Workday Human Capital Management, Workday Business Management, Workday Financial Management, Workday Resource Management and Workday Revenue Management are all trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.

Contact Information

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    Andrew McCarthy
    Workday
    (925) 951-9137
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