Corporate Performance Management

Corporate Performance Management

April 18, 2013

Workday Inc. Releases Version 19 of Its Online Solution

Workday Inc., a provider of on-demand, cloud-based financial management and human capital management software, released its latest update to its platform, Workday 19. The new update includes the ability for companies to personalize the platform, manage intangible assets, and access to a free app through the Android (News - Alert) market. 

Workday, was founded in 2005 by David Duffield, and began offering financial management and human capital management software at a fraction of the cost of its competitors by going virtual. Duffield brought a lot of his products to the cloud, allowing him to lower the prices, while offering more features. 

With the latest upgrade, users can expect to see an additional 170 features and deployment of a new application called Workday for Android app. In a press release, Workday announced that 70 of the new features were included due to popular vote from the customer forum.

"We take the challenges companies face with their old systems and re-imagine them by applying fresh, new thinking and today's modern technologies," said Aneel Bhusri, chairman, co-founder and co-CEO, Workday. "At Workday, we've taken a very thoughtful and disciplined approach to extensibility, and as a result, customers running applications in the cloud can now tailor them to make Workday their own."

Some of those upgrades allow customers to: access to data across multiple devices, edit and create custom fields and labels, automate highly complex financial processes, manage and measure full life cycle accounting, and merge financial and headcount data together using actuals.

"Customization in the cloud is a significant innovation, because we can now tailor the Workday application to our specific needs without the worry that it will be complex or costly," said Margo Hendrickson, Vice President, Human Resources, athenahealth.  "With Workday's custom fields and labels, we will be able to better communicate our brand and culture through the application to make key processes easy to understand, increasing efficiency for our workforce and reducing the extra support needed from HR so we can focus on other strategic initiatives within the business."

Edited by Ashley Caputo

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