Is Workday ready to conquer the European SaaS HCM Market? With Workday Rising Dublin 2015 starting today, I am looking forward to opportunities for discussion and collaboration between Workday, Accenture, other partners and customers/prospects that Rising presents. Realizing what a unique product Workday actually is and how Workday per definition transforms businesses, we have great opportunities this week to make real progress in transforming European businesses when it comes to HR technology. Looking at the global competitive landscape, we see the three big known vendors, being SAP, Oracle and Workday dominating the SaaS HR market. If we zoom in, looking at this through a more European lens, we see that competition is more limited to SAP SuccessFactors and Workday going toe to toe.
In helping European organizations with HR SaaS software selection, we’ve seen that Workday often comes out on top for its Core HR, Self Service, Analytics, Platform Integration and Benefits Administration features.
These are key features that provide the foundation to any HR transformation program. And with the announcement of the Workday Learning, Workday is making a significant move in the area of Learning and Development.
Beyond features, let’s zoom into what I believe are the key differentiators of Workday. They are:
1 Code – Solution was built from scratch resulting in a unified user interface and underlying code across all HR Modules (e.g., HCM Core, Compensation, Benefits, Payroll, Succession Planning, Absence, Time Tracking and Talent).
In memory computing since 2005.
Advanced Business Process Configuration – Being able to tailor pre-delivered best practice HR processes to the client needs. And that from a “Visio Diagram” – like view.
Contextual Information on one screen – Having all the information on one screen that enables key decision making (e.g., salary comparison amongst high performers).
Actionable Dashboards & Analytics – Being able to drill down to the individual record level and take immediate action to update the record itself (e.g., salary increase).
Insight Application – Predictive Analytics based on pre- and client-defined parameters and Workday HR data (e.g., who is at retention risk due to lower compensation in comparison to high performance and several months/years in current job).
Integration Platform – Understanding that HR operates in the heart of each organization and HR data is vital to many business processes and underlying systems, Workday has created the most advanced integration module you can imagine. In combination with a large set of pre-defined and certified connectors, integrating HR data to other business application could not have been made easier.
What does this mean for Workday customers? It comes down to the main focal points of any software evaluation program, particularly when Workday is one of the technologies involved.
HR Transformation Enabler – The combination of advanced business process configuration with the richest self-service functionality available (mobile first approach) in the market, gives clients the ability to transform their business towards a more empowered workforce.
Agility - Easy adaptation of processes/workflow/configuration by customer without involvement of external parties. Next to this, adjustment of configuration is done in a consistent manner through one and the same user interface and without the necessity to apply coding.
Key Decision making based on facts – Utilizing the contextual information on screen, the actionable Dashboards & Analytics and Insight Applications, customers are enabled to take key decisions based on real time facts.
Real Time Information – As Workday was built from scratch based on the one-code principle across all integrated modules, information is real time and without any delays between the handover points. In memory computing ensures data is retrieved by a click of a button. If you then consider that Workday projects are based on business cases designed to get real business value out of HR strategies, you’ll find that Workday is well positioned to take over the European Market.