How does Workday compare to Salesforce?
The global Human Capital Management (HCM) industry is forecast to rise 9.2 percent annually over the next five years, according to a Markets and Markets study released earlier this year. By 2022, the market is projected to increase from $14.50 billion to $22.51 billion. Before getting through these details, if you would like to learn the concepts of how to handle human capital management then get this online course Workday Training which would assist you in transforming your career into a Workday platform. Meanwhile to get into the Salesforce platform, learn the concepts CRM tool to handle the enterprise and the customers with this Salesforce Training which is also available online.
Financials of Workday
Workday (NYSE: WDAY), a SaaS-based HCM services provider, recently posted a second-quarter performance that exceeded all industry expectations. Revenues increased by 40.6% year on year to $523 million, far above the Street's expectation of $507 million. The $0.24 EPS beat the $0.15 forecasted by the industry.
Subscription sales increased by 42% to $434.5 million, and consulting services revenues increased by 34% to $90.8 million.
Workday was called Gartner's first-ever Cloud Core Financial Management Suites’ Magic Quadrant for Large, Midsize and Global Enterprises in the Leaders quadrant during the quarter.
Workday increased its subscription sales estimate for the full year to $1.75-$1.757 billion, up from $1.705-$1.72 billion previously. The market was expecting $1.717 billion in subscription sales for the year. Workday expects subscription sales of $450-$452 million in the second year, against a consensus of $435 million. As a whole, Workday expects sales of $2.093-$2.1 billion for the year, relative to an industry estimate of $2.05 billion.
Product Expansion of Workday
Workday made two significant quality improvements last quarter. For starters, it introduced a fixed-fee, pre-configured application kit for medium-sized businesses in the United States. Workday's emphasis on small and medium enterprises is reflected in this move. Workday services and its deployment partners will provide the program kit. The packages are focused on the popularity of Workday's current medium-sized business deployments. Most businesses want a common business partner for financing, accounting, and human resources, so Workday claims it would be a preferred offering. Global markets will also have access to the packages.
Second, it has stated its plan to join the Platform-as-a-Service industry by allowing its partners of customers, developers, and independent software vendors to use the Workday Cloud Platform. Customers will be able to use a Platform-as-a-Service to gain access to a larger ecosystem of partners, ISVs, and developers (PaaS). Finally, the move would aid in the creation of custom plugins and software for customers' market requirements. This transition provides Salesforce with yet another strategic advantage.
Workday also revealed last month that it had acquired the Pattern team from Redwood City, California. The pattern was founded in 2015 with the aim of helping salespeople manage their customer relationships. Felicis Ventures, SoftTech VC, First Round Capital, and a number of angel investors have all backed it. The deal's terms haven't been revealed yet. This move also puts them in direct competition with Salesforce.
Workday Prism Analytics, which is scheduled to be released this fall, is also anticipated by the industry. Prism is a cloud-based analytic solution built on Amazon as part of Workday's cloud offerings, thanks to the Platform acquisition. Prism can allow businesses to analyze data from a number of sources in Workday. They'll be able to build a virtual data warehouse, and customers from various departments will be able to access information contained in Workday and other SaaS-based products like ServiceNow and Salesforce.
With a market capitalization of $22.4 billion, the stock is currently valued at $108.84.It has risen from a 52-week low of $65.79 set in December of last year and has recently reached a 52-week high of $111.45. Later this month, the firm will move from the NYSE to the Nasdaq.
Workday vs Salesforce
Overall Culture Score, CEO Rating, Brand Ranking, and other ratings are compared between Salesforce and Workday. 414 Salesforce customers and employees and 110 Workday customers and employees came up with the results.
Salesforce and Workday both have a positive social sentiment when it comes to online mentions and social media platforms. Salesforce current market capitalization is $201.44 billion dollars whereas workday current market capitalization is $49.74 billion dollars.
Workday vs. Salesforce's Overall Culture
Salesforce employees rate their company's overall culture at 79 out of 100, with Business Development and Admin earning the best scores whereas Workday employees give their overall culture score at 77 out of 100, with HR and Customer Support receiving the best scores.
Workday vs. Salesforce Employee Net Promoter Score
Workday vs. Salesforce: Gender Score
Salesforce employees give their Gender Score a 78 out of 100, with Admin and Business Development receiving the best scores whereas Workday employees give their Gender Score a 77 out of 100, with Engineering and Customer Support receiving the best score.
Workday vs. Salesforce's Diversity Score
Salesforce employees give their experience a 76 out of 100, with HR and Product receiving the best scores. Employees at Workday give a 77 out of 100 rating to their diversity experience, with Engineering and Customer Support receiving the best scores.
Workday vs Salesforce : Perks and Benefits
Salesforce employees offer their Benefits and Perk Score an 88 out of 100, with Operations and Admin receiving the best scores. Workday employees offer their Benefits and Perk Score an 81 out of 100, with Customer Support and Operations receiving the best scores.
Workday vs. Salesforce: Score on Professional Development
Salesforce employees give their Professional Development Score a 61 out of 100, with Business Development and Product receiving the best scores. Workday employees give their Professional Development Score a 61 out of 100, with Product and Marketing receiving the best scores.
Workday vs. Salesforce: Leadership Culture Ratings
Based on a comparison of 2195 employee ratings, Workday is ranked lower than Salesforce in terms of Workday vs. Leadership Culture Ratings. Questions and answers like "Do you feel comfortable giving your boss negative feedback?" and "Do you think the company's management team is doing an excellent work?" are used to determine ratings.
Workday vs. Salesforce: Ratings for Compensation Culture
Salesforce has an 83% higher compensation culture rating than Workday, which has a 73% rating. Workday vs Salesforce Ratings are based on a comparison of 1543 ratings from both companies' employees. Question and Answers like "Does your business award annual bonuses?" and "What would make you feel better about your compensation if you didn't feel undervalued?"" are used to determine ratings.
Workday vs Salesforce: Ratings for Team Culture
On Team Culture, Salesforce has a lower score of 83% than Workday, which has a higher score of 88%. Workday vs Salesforce Ratings are based on a comparison of 1234 ratings from both companies' employees.Answers to questions like "Are your company's meetings effective?" and "How will you rate your coworkers' quality?"are used to determine ratings.
Workday vs. Salesforce: Ratings for Environment Culture
Salesforce has a 77% higher rating than Workday, which has a 75% rating on Environment Workday Vs Culture Ratings, based on 1444 employee ratings. Questions and Answers like "How much of the time do you get bored at work?" and "How many hours do you work on average every day?" and "How many hours do you work on average every day?" are used to calculate ratings.
Workday vs. Salesforce: Sentiment Culture
On Sentiment Culture, Salesforce scores 88% higher than Workday's 86%. Workday vs. Salesforce Ratings depending on 1159 ratings from both companies' employees. Question and Answers like "How do your customers view your company?" are used to generate ratings and "How sure are you in your company's potential success?"
You have now seen comparative analysis on various parameters between the Workday and Salesforce. We also have discussed the impact of financials and product expansion of Workday.
Published by Rajarapu Anvesh