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Workday SWOT & PESTLE Analysis

ID : 52542153| Apr 2019| 15 pages

COMPANY PROFILE -Workday

Business Sector :Information Technology

Operating Geography :United States, North America, Global

About Workday :

Founded by AneelBhusri and David Duffield in 2005, Workday Inc.is headquartered in California and is a software vendor built on the concept of selling cloud-based applications for Finance and HR. Customers are provided applications that would help them to manage critical business functions to optimize their financial and human capital services. Workday Inc. is a leader in enterprise cloud applications for human resources and finance. It delivers human capital management, financial management and analytics applications designed for the world’s latest organizations.

Workday Revenue :


US $2.82 billion - FY ended Jan 31, 2019 (year-on-year growth of 31.7%)
US $2.14 billion - FY ended Jan 31, 2018

Competitive Analysis of Workday

SWOT
PESTLE
The SWOT analysis of Workday is presented below:
Strengths
Weaknesses
1. Large, growing customer base
2. Cloud based HR software products
3. Multiple year subscription contracts
4. Ease of accessibility via mobile app
5. Strong and focused investments in R&D and innovation
6. Mergers & acquisitions strengthening offerings and market expansion
1. History of cumulative losses over the years
2. Absence of offline operational capabilities
3. Limited customer base
Opportunities
Threats
1. Expanding the product line
2. Growth in the global CRM and HCM market size
3. Customers migrating to higher end products
1. Intense competition in HCM software segment
2. Investment in technological upgradation
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Detailed SWOT Analysis of Workday

 

Strength

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Weakness

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Opportunity

1. Expanding the product line: Workday is venturing into adjacent markets to increase its revenue growth. Workday started with HCM and went on to venture into ERP space like accounting, recruiting, time tracking, and purchasing. It also created Workday Learning application that is built in the company’s core HCM and financial management offerings. They are also expanding their application frameworks in order to introduce new powerful features. Also, the mergers and acquisitions have helped the company to venture into the space where they have not been active and grab the customer share too. When they go for acquiring new companies that caters to different set of customers with different product lines, they widen their services too. For example – Workday’s customers base range is 450+ customers whereas Adaptive Insights has a customer base as huge as 3400+ customers. On the acquisition of the latter, Workday was able to provide tailored products and recommendations based on their data to new customers and increase its involvement of company information.

2. Growth in the global CRM and HCM market size: According leading industry research, Human Capital Management Market is expected to grow from $ 10.96 billion in 2014 to $ 17.49 billion by 2019 at a Compound Annual Growth Rate of 9.8%. HCM market has been rising exponentially due to enhancement of technology in this sector. Real-time based solutions are in demand and organizations are looking for software solutions that can solve the specific demands that ERP and CRM are failing to do. The demand of HR solutions has been rising among large enterprises. The solutions are gaining popularity in various industry verticals like manufacturing, BFSI, education, energy, etc. The global market of CRM software is highly competitive. According to a report by Market Research Future, global CRM Market Software is expected to grow up to 35 billion by 2023 registering a Compound Annual Growth Rate of 6% during 2017-2023.
The market opportunity of HCM is expected to grow from $ 16 in 2018 to $ 22 in 20122 with a CAGR of 9.1%.

3. Customers are migrating to higher end products: Cloud based applications are increasingly popular and convenient nowadays. It enables the users to get their applications to market quickly. It saves the cost of servers and other equipment. Even the hardware failures do not result in data loss because of networked backups. They want the services to be flexible in order to adjust to them as per their needs. Security updates are automatic and multiple people can work on the same resources anywhere. All the crashed or loss data are recovered easily. Nowadays, customers or business conglomerates do not look for software that has to be locally installed on their computers, primarily for the level of inconvenience caused. Hence, cloud-based services have attracted customers due to reduction in cost of managing and maintaining the IT systems. Due to usage of cloud-based services, the deployments start immediately and are delivered on time. Maintenance of security aspects have been easier because of the same in order to keep the sensitive data safe.

Threat

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

  • Salesforce
  • Oracle
  • Ultimate Software Group
  • Automatic Data Processing
  • Infor Global Solutions
  • Ceridian

Key Business Segments / Diversification :

Workday
Financial Management Human Capital Management Financial Performance Management
Learning Application Payroll Planning Time Tracking
Recruiting Application Prism Analytics
Workday Student.
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Panasonic SWOT and PESTLE analysis has been conducted by Neha Mohanty and reviewed by senior analysts from Barakaat Consulting.

Copyright of Panasonic SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

Workday SWOT & PESTLE Analysis
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