Kainos and Workday Expand Strategic Partnership to Bolster Co-Innovation and Provide Purpose-Built Apps to Customers via Built on Workday
Rhea-AI Summary
Workday (NASDAQ: WDAY) and Kainos Group (KNOS) have expanded their strategic partnership to advance the development and distribution of purpose-built apps for Workday customers through Built on Workday. This program, launched in June 2024, allows partners to build, launch, and manage apps on the Workday platform.
The partnership will provide customers with direct access to Kainos' products: Smart Test, Smart Audit, and Employee Document Management. These products will be listed on Workday Marketplace, helping customers automate and scale their Workday operations. Workday's sales teams will be incentivized to introduce and co-sell Kainos Products across North America, Europe, and Asia Pacific.
Kainos expects this agreement to more than triple their ARR over the next six years. The collaboration aims to accelerate app development and distribution, helping joint customers recognize greater value from their Workday investment.
Positive
- Expanded strategic partnership with Kainos to develop and distribute purpose-built apps
- Workday sales teams incentivized to co-sell Kainos products globally
- Potential for increased revenue through wider distribution of Kainos products
- Enhanced value proposition for Workday customers through access to Kainos' automation tools
Negative
- None.
News Market Reaction – WDAY
In the trading session that priced this news, WDAY gained 2.97%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Unveiled by Workday in June 2024, Built on Workday enables Workday partners to easily build, launch, and centrally manage apps on the trusted Workday platform. This provides partners with opportunities to accelerate and scale their app development while addressing customers' evolving business, industry, and regional challenges.
Through this strategic partnership, customers will have direct and seamless access to Kainos' best-in-class products – Kainos Smart Test, Kainos Smart Audit, and Kainos Employee Document Management. Listed on Workday Marketplace, these Kainos products will help customers automate and scale their Workday operations and maintenance while maximizing use of the Workday platform. The partnership will enable Kainos to accelerate distribution of its products while reaching an expanded customer base. It will also see Workday's sales teams across
Malachy Smith, Workday Global Practice Leader at Kainos commented, "Over the past ten years we have developed and launched fantastic products that, alongside Workday, help our customers overcome their industry and business challenges. We are delighted to sign this transformative innovation agreement allowing us to co-sell our products with Workday. We believe this will more than triple our ARR over the next six years."
"This strategic expansion is an exciting step in our partnership with Kainos and underscores our companies' mutual dedication to customers, co-innovation, and the Built on Workday program," said Doug Robinson, co-president, Workday. "By collaborating to accelerate app development and distribution, we can help our joint customers recognize even greater value from their Workday investment, helping them keep pace in a changing world of work."
Kainos' innovative apps will now be listed and visible to Workday customers globally via Workday Marketplace, which features curated AI solutions that demonstrate adherence to the Workday Responsible AI Governance Framework.
About Workday
Workday is a leading enterprise platform that helps organizations manage their most important assets – their people and money. The Workday platform is built with AI at the core to help customers elevate people, supercharge work, and move their business forever forward. Workday is used by more than 10,500 organizations around the world and across industries – from medium-sized businesses to more than
© 2024 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.
About Kainos
At Kainos we use technology to solve real problems for our customers, overcome big challenges for businesses, and make people's lives easier. We build strong relationships with our customers and go beyond to change the way they work today and the impact they have tomorrow. Across three divisions, Digital Services, Workday Services, and Workday Products, we work globally with clients to make the world a little bit better, day by day. Our people are central to our success. We employ more than 2,900 people in 23 countries across
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 our 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 our 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 our filings with the Securities and Exchange Commission ("SEC"), including our most recent report on Form 10-Q or Form 10-K 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, except as required by law.
Any unreleased services, features, or functions referenced in this document, our 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.