Workday Inc Stock Price, News & Analysis

Grant Thornton, a leading provider of audit, assurance, tax, and advisory services, has appointed Greg Davis to lead its Workday practice. The firm has also added Andrew (Drew) Houts to enhance its Workday leadership team. Grant Thornton became a Workday Services Partner in 2023, building on its success in deploying the Workday platform for clients since 2019.

Davis, with over 27 years of consulting experience, will ensure Grant Thornton delivers services to help clients successfully adopt Workday solutions. Houts, a managing director in the Technology Modernization practice, brings nearly a decade of Workday ecosystem leadership experience to help grow the practice.

This expansion of the Workday practice leadership team aims to strengthen Grant Thornton's ability to help clients scale, increase profits, and navigate changing business landscapes using Workday's cloud platform for finance and human resources.

Evisort, a Workday company specializing in AI for contract lifecycle management (CLM), has been recognized as a Visionary in the 2024 Gartner® Magic Quadrant™ for Contract Life Cycle Management for the third consecutive year. The company recently became the first CLM provider to receive ISO 42001 certification for responsible AI development and use. Evisort has introduced key innovations in the past 12 months, including a dedicated large language model (LLM) and an advanced AI orchestration layer. They also launched Document X-Ray™ and Ask AI, features designed to provide actionable insights from contracts and related documents. The company's recent acquisition by Workday (NASDAQ: WDAY) is expected to enhance its ability to help customers leverage critical business data more effectively within a single system of truth.

Workday's documentary 'UNTAPPED: Closing America's Opportunity Gap' is now streaming on Netflix in the U.S. The film, produced in partnership with SpringHill, follows six young adults through a skills training program with Year Up United, aiming for Fortune 500 internships. It advocates for skills-based hiring practices, focusing on capabilities rather than traditional four-year degrees.

The documentary features insights from industry leaders like GM CEO Mary Barra, JPMorganChase CEO Jamie Dimon, and Walmart CEO Doug McMillon. It highlights the need for inclusive talent strategies, addressing the estimated 87% of companies facing skill gaps and the fact that only 38% of U.S. adults hold four-year degrees.

Workday CEO Carl Eschenbach emphasizes that skills are the modern currency of work, encouraging different paths to successful careers. The film's release coincides with peak hiring months, urging businesses to reassess their workforce strategies and embrace skills-first talent practices.

Workday, Inc. (NASDAQ: WDAY) announced that seven higher education institutions within the University of Arkansas System are now live on Workday Student, with the remaining institutions expected to be live by Spring 2025. This implementation is part of a digital transformation initiative to provide a unified experience for managing academics, employment, finances, and more across 14 campuses.

Key benefits of the Workday Student implementation include:

• Consolidation of over 30 disparate systems into one cloud-based platform
• Self-service capabilities for students to manage courses, financial aid, and more via mobile devices
• Support for common course numbering across 21,000 offerings to facilitate transfers and degree completion
• Real-time insights into registration, curriculum, talent needs, enrollment changes, and financial data

The University of Arkansas System, which enrolls more than 70,000 students and employs nearly 30,000 faculty and staff, aims to improve student engagement and adapt to changing industry needs through this modernization effort.

Workday, Inc. (NASDAQ: WDAY) announced its sponsorship of Grace Hopper Celebration 2024 (GHC), the world's largest gathering of women and nonbinary technologists. The event will take place from October 8-11, both virtually and in-person in Philadelphia. Workday will send 50 delegates and five speakers to participate in innovation sessions, demonstrating its commitment to empowering women and nonbinary technologists.

As part of its sponsorship, Workday will host the AI/ML and Cloud Computing Reception on October 9. The company's representatives will participate in various sessions, including discussions on AI product development, data analytics, accessibility in tech spaces, and strategic impact with OKRs and KPIs. Kathy Pham, Vice President of AI at Workday, emphasized the company's dedication to fostering a more inclusive tech industry.

Evisort, a leader in AI-native contract intelligence and contract lifecycle management (CLM), has become one of the first companies globally to achieve ISO 42001 accredited certification for responsible AI development and use. This certification, audited by Schellman, reinforces Evisort's commitment to providing reliable, scalable, and ethical AI solutions for contract analysis.

The ISO/IEC 42001 certification sets standards for ethical AI development and deployment, ensuring transparency, accountability, and alignment with ethical principles. Evisort's certification covers its role as both an AI 'producer' and 'provider', scrutinizing aspects such as AI training methodologies, data governance, human oversight, and third-party risk management.

This achievement adds to Evisort's existing certifications in information security (ISO 27001) and privacy (ISO 27701), as well as its annual SOC 2 Type 2 examinations. The company also recently developed the first large language model specifically for contracts. On September 17, 2024, Workday, Inc. (NASDAQ: WDAY) announced its intention to acquire Evisort.

The Josh Bersin Company, a leading human capital advisory firm, has announced a partnership with Workday (NASDAQ: WDAY) to integrate their AI-powered expert assistant, Galileo™, with Workday Human Capital Management (HCM). This integration, announced at Workday Rising, aims to provide Workday users with access to current HR best practices, advice, and assistance.

Powered by Sana AI, Galileo will offer HR benchmarking, use cases, skills models, and employment policies to address various HR issues. The tool is designed to benefit both HR professionals and other Workday users, helping them maximize the potential of their Workday infrastructure. This collaboration is seen as an advancement in AI for HR, combining three leading tools: Galileo, Workday HCM, and Sana's learning technology.

Workday (NASDAQ: WDAY) has announced Workday Wellness, an AI-powered solution set to launch in early 2025. This innovative platform will provide companies with real-time insights into employee benefits preferences and usage. Key features include:

1. AI-driven recommendations to improve benefits programs
2. Real-time data exchange between employers and wellness partners
3. Integration with Workday Illuminate and Workday Peakon Employee Voice for sentiment analysis
4. Comprehensive view of all benefits programs with alerts for underused offerings

The solution aims to help companies create more personalized wellness experiences, potentially leading to healthier, happier, and more engaged employees. Workday Wellness will be available to early adopter customers of Workday HCM in early 2025.

Workday (NASDAQ: WDAY) has launched 12 new Industry Accelerators to help customers modernize their HR and finance operations. These offerings combine Workday's solutions with industry expertise and pre-built offerings from global partners to address sector-specific challenges. The accelerators cover industries such as banking, healthcare, higher education, professional services, retail and hospitality, and technology and media.

Key features include improving academic recruitment, driving project efficiencies, addressing staffing shortages, and optimizing financial processes. Partners involved in the program include Accenture, CrossVue, Deloitte, Invisors, Kainos, KPMG, Mercer, and PwC. This launch follows Workday's recent expansion of its partner ecosystem, including the introduction of Global Payroll Connect and the Built on Workday program.