What is Workday?

Workday is a cloud-based enterprise software platform that provides a wide range of human resources (HR) and financial management solutions. 

It was founded in 2005 by David Duffield, the founder and former CEO of PeopleSoft, and Aneel Bhusri, a former PeopleSoft executive. 

Workday is primarily known for its software-as-a-service (SaaS) offerings, which means that the software is hosted and accessed over the internet rather than being installed on individual computers or servers.

Workday offers a suite of applications designed to assist organizations with various aspects of their operations, including human capital management (HCM), financial management, payroll, talent management, and analytics. 

These applications are integrated into a single unified system, providing organizations with a comprehensive view of their workforce and financial data.

In terms of HR management, Workday’s HCM software helps businesses with tasks such as recruiting, onboarding, employee data management, performance management, compensation planning, and succession planning. 

It also provides tools for workforce planning, time tracking, and absence management.

Workday’s financial management software enables organizations to manage their accounting, procurement, expenses, and financial reporting processes. 

It includes features for general ledger management, accounts payable and receivable, budgeting, asset management, and financial analytics.

One of the key advantages of Workday is its intuitive user interface, which is designed to be user-friendly and accessible to both administrators and employees. 

The platform also emphasizes data security and privacy, with robust controls and encryption measures in place to protect sensitive information.

Overall, Workday aims to streamline and automate HR and financial processes, improve data accuracy, enhance decision-making capabilities, and provide organizations with a unified system to manage their workforce and financial operations efficiently.