Workday, Inc. is an on-demand financial management

Managerial finance

Managerial finance is the branch of finance that concerns itself with the managerial significance of finance techniques. It is focused on assessment rather than technique....

 and human capital management

Human resource management systems

A Human Resource Management System or Human Resource Information System , refers to the systems and processes at the intersection between human resource management and information technology...

  software vendor. It was founded by David Duffield

David Duffield

David Duffield is an American businessman in the software industry. He is the co-founder and former chairman of PeopleSoft, the co-founder and co-CEO at Workday, Inc., and has been on the Forbes World's Richest People list...

, the founder and former CEO of PeopleSoft

PeopleSoft

PeopleSoft, Inc. was a company that provided Human Resource Management Systems , Financial Management Solutions , Supply Chain and customer relationship management software, as well as software solutions for manufacturing, enterprise performance management, and student administration to large...

, and former PeopleSoft chief strategist Aneel Bhusri. The company was started in March 2005 and launched in November 2006. In December 2008, Workday moved its headquarters from Walnut Creek to Pleasanton, California, the location of founder Duffield's prior company, PeopleSoft. Workday sells software and services using the SaaS

Saas

SAAS is an abbreviation for* Social Accountability Accreditation Services* Software as a service * Student Awards Agency for Scotland* Seattle Academy of Arts and Sciences* South Australian Ambulance Service...

 model.

In May 2008, Workday signed a large contract with Flextronics

Flextronics

Flextronics International Ltd. is an electronics manufacturing services provider that offers services to original equipment manufacturers . It also provides supporting supply chain services, including packaging and transportation throughout the world, as well as design and after-sales...

 to provide human capital management software services. Other large, multinational companies that have publicly disclosed contracts or deployments of Workday include Aviva

Aviva

Aviva plc is a global insurance company headquartered in London, United Kingdom. It is the sixth-largest insurance company in the world measured by net premium income and has 53 million customers in 28 countries...

, Chiquita Brands, Fairchild Semiconductor

Fairchild Semiconductor

Fairchild Semiconductor International, Inc. is an American semiconductor company based in San Jose, California. Founded in 1957, it was a pioneer in transistor and integrated circuit manufacturing...

, Rentokil Initial

Rentokil Initial

Rentokil Initial is a major British business services group. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.-History:...

, Thomson Reuters

Thomson Reuters

Thomson Reuters Corporation is a provider of information for the world's businesses and professionals and is created by the Thomson Corporation's purchase of Reuters Group on 17 April 2008. Thomson Reuters is headquartered at 3 Times Square, New York City, USA...

, and Time Warner

Time Warner

Time Warner is one of the world's largest media companies, headquartered in the Time Warner Center in New York City. Formerly two separate companies, Warner Communications, Inc...

.

As of October 2011, Workday had more than 240 customers, ranging from midsized businesses to Fortune 500

Fortune 500

The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...

 companies. Workday planned to meet an employee headcount of 1,000 in 2011.

Awards & recognitions

In April 2009, Workday was named Best Place to Work in the Bay Area.

In May 2010, Workday was recognized as one of the “2010 Hottest San Francisco Companies” by Lead411.

In 2010, Workday was named Best Business Application by the San Francisco Business Times

Business Times

The Business Times, also known as the BT, is the name of two financial newspapers published in South-east Asia:*Business Times *Business Times...

.

In April 2011, Workday was named No. 3 Best Place to Work in the Bay Area by the San Francisco Business Times and Silicon Valley

Silicon Valley

Silicon Valley is a term which refers to the southern part of the San Francisco Bay Area in Northern California in the United States. The region is home to many of the world's largest technology corporations...

/San Jose

San José

San José, or San Jose, is the Spanish for Saint Joseph. It usually refers to one of two major cities. These are:*San José, Costa Rica, the capital of Costa Rica*San Jose, California, the tenth-most populous city in the United States...

 Business Journal.

Products

Workday offers the following applications:

• Human Capital Management
• Payroll
• Initiatives
• Spend Management
• Financial Management
• Integration Cloud

Workday has released 15 updates to its product line as of October 2011.

Services

Workday offers Human Resources, Payroll, and Financial Management software delivered via Software as a Service (SaaS).

Acquisitions

On Feb. 6, 2008, Workday announced that it had reached a definitive agreement to purchase Cape Clear

Cape Clear (software company)

Cape Clear is a vendor of ESB software, founded in 1999.Cape Clear was a spin-off from IONA Technologies. and was a privately held firm with headquarters in San Mateo, CA, and offices in Atlanta, GA, Chicago, IL, Denver, CO, Waltham, MA, Dublin, Ireland, and London, UK.In November 2000, Cape...

.

Financing

Initially Workday was funded by co-founder Dave Duffield and venture capital firm Greylock Partners. On April 29, 2009, Workday announced that it secured $75 million in Series E funding led by New Enterprise Associates(NEA). Existing investors Greylock Partners and Workday CEO and co-founder Dave Duffield also participated in the round.
On Oct. 24, 2011, Workday announced $85 million in new funding, bringing total capital raised to $250 million. Investors in the latest round included T. Rowe Price

T. Rowe Price

T. Rowe Price is a publicly owned Investment firm, headquartered in Baltimore, Maryland. It was founded in 1937 by Thomas Rowe Price, Jr.. The company offers mutual funds, subadvisory services, and separate account management for individuals, institutions, retirement plans, and financial...

, Morgan Stanley

Morgan Stanley

Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....

 Investment Management, Janus

Janus

-General:*Janus , the two-faced Roman god of gates, doors, doorways, beginnings, and endings*Janus , a moon of Saturn*Janus Patera, a shallow volcanic crater on Io, a moon of Jupiter...

, and Bezos Expeditions, the personal investment entity of Amazon

Amazon

The Amazons were a legendary nation of female warriors in Greek mythology.Amazon is an eponym, derived from the legend, for any woman warrior or athlete, including:* Amazon, nom de guerre of a Roman gladiatrix at Halicarnassus...

 CEO and founder Jeff Bezos

Jeff Bezos

Jeffrey Preston "Jeff" Bezos is the founder, president, chief executive officer , and chairman of the board of Amazon.com.-Early life and background:...

. In a November 2011 article, the Wall Street Journal cited Workday as among a group of "technology start-ups that sell to business" that are "hot again with Silicon Valley investors, helped by the growing popularity of online software."

Primary Competition

• ADP
  Automatic Data Processing
  Automatic Data Processing, Inc. Automatic Data Processing, Inc. with about $10 billion in revenues and approximately 545,000 clients, is a provider of business outsourcing solutions. ADP offers a range of human resource, payroll, tax and benefits administration solutions...
  
  
• Oracle Corporation
  Oracle Corporation
  Oracle Corporation is an American multinational computer technology corporation that specializes in developing and marketing hardware systems and enterprise software products – particularly database management systems...
  
  
• SAP AG
  SAP AG
  SAP AG is a German software corporation that makes enterprise software to manage business operations and customer relations. Headquartered in Walldorf, Baden-Württemberg, with regional offices around the world, SAP is the market leader in enterprise application software...
  
  
• SuccessFactors
  SuccessFactors
  SuccessFactors is an American-based company headquartered in San Mateo, California, with regional headquarters in London , Munich , Paris , Hong Kong and Tokyo . Other major offices are in Brisbane, Beijing, Jakarta, Manila, Bangalore and Boston...
  
  
• Ultimate Software
  Ultimate Software
  Ultimate Software is the developer and provider of unified human capital management Software-as-a-Service solutions for global businesses...