Workday Named a Leader in the 2023 Gartner® Magic Quadrant™ for Financial Planning Software

Company Positioned as a Leader Based on Completeness of Vision and Ability to Execute

PLEASANTON, Calif., Dec. 8, 2023 /PRNewswire/ -- Workday (NASDAQ: WDAY), a leader in enterprise cloud applications for finance and human resources, today announced it has been named a Leader in the 2023 Gartner Magic Quadrant for Financial Planning Software* for the second time since the category's inception last year. A complimentary copy of the report is available here.

As business continues to move at an accelerating pace, organizations must plan more frequently using massive datasets and create more scenarios to account for possible fluctuations. More than 6,300 organizations across the globe, including Life Care Services, Ryder System, Inc., Salesforce, Shutterstock, Wintrust, and more use Workday Adaptive Planning to help drive more confident, strategic decision-making faster than ever.

"We believe this recognition is an acknowledgement of our innovation and unique blend of easy-to-use functionality with a system that can handle large data volumes to meet complex modeling requirements," said Dennis Yen, general manager, Planning, Workday. "With Workday AI embedded into the core of Workday Adaptive Planning, customers can surface real time insights and make faster decisions to keep pace with the speed of business."

With Workday Adaptive Planning, customers experience:

The Unique Combination of Powerful Performance at Scale and Ease of Use 

Powered by Elastic Hypercube Technology (EHT), Workday Adaptive Planning efficiently calculates complex models by adding memory and compute power as needed, resulting in dynamic, automatic scaling. With this powerful modeling engine, Workday Adaptive Planning supports the most complex, multi-dimensional models without sacrificing speed.

Additionally, a user-friendly experience enables financial planning and analysis (FP&A) teams to configure models on the fly by adjusting dimensions, logic, and formulas as needed, without learning how to program, build scripts, or call in technical resources.

A Platform-Agnostic Solution that Works with Workday and Non-Workday Data Sources

An out-of-the-box, built-in integration framework enables customers to effectively integrate any third-party system of record with Workday Adaptive Planning. These include enterprise resource planning (ERP), customer relationship management (CRM) software, marketing and HR systems, and data warehouses.

Workday was also recently named a Leader in the 2023 Gartner Magic Quadrant for Cloud ERP for Service-Centric Enterprises as customers experience even more benefits in the form of streamlined workflows and a common user experience when Workday Adaptive Planning is connected to the Workday platform.

Workday AI for Data-Driven Insights and Faster, More Informed Business Decisions 

With Workday Adaptive Planning, customers can leverage powerful AI technology without technical expertise as capabilities are designed for ease-of-use. For example, the predictive forecaster within Workday Adaptive Planning uses machine learning to automatically create demand forecasts by quickly analyzing historical and third-party datasets.

Further, a new generative AI capability previewed at Workday Rising will enable users to use conversational text to navigate the system, surface data quickly, uncover insights, and get recommended actions based on those insights.

For More Information

• Download a complimentary copy of the report, 2023 Gartner Magic Quadrant for Financial Planning Software.
• Read the blog, Workday Named a Leader in the 2023 Gartner Magic Quadrant for Financial Planning Software for Second Year in a Row, by Dennis Yen, general manager Planning
• See a demo of Workday Adaptive Planning.

*Gartner Magic Quadrant for Financial Planning Software, Regina Crowder, Matthew Mowrey, Vaughan D Archer, 5 December 2023

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Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER is a registered trademark and service mark, and MAGIC QUADRANT is a registered trademark of Gartner, Inc., and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

About Workday
Workday is a leading provider of enterprise cloud applications for finance and human resources, helping customers adapt and thrive in a changing world. Workday applications for financial management, human resources, planning, spend management, and analytics are built with artificial intelligence and machine learning at the core to help organizations around the world embrace the future of work. Workday is used by more than 10,000 organizations around the world and across industries – from medium-sized businesses to more than 50% of the Fortune 500. For more information about Workday, visit workday.com.

© 2023 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.

Forward-Looking Statements
This press release contains forward-looking statements including, among other things, statements regarding Workday's plans, beliefs, and expectations. These forward-looking statements are based only on currently available information and Workday's current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of Workday's control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in Workday's filings with the Securities and Exchange Commission ("SEC"), including Workday's Form 10-Q for the fiscal quarter ended October 31, 2023, and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.

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

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SOURCE Workday Inc.