Workday, Inc.

Workday makes enterprise cloud applications for human capital management and financial management. Dave Duffield and Aneel Bhusri, both former PeopleSoft leaders, founded it in 2005 in Pleasanton, California. They built it from scratch as a cloud-native platform to replace the legacy on-premises ERP systems from Oracle and SAP.

The flagship product is Workday Human Capital Management. It handles core HR, talent management, workforce planning, learning, recruiting, payroll, time tracking, and compensation. For large organizations, it serves as the system of record for all employee data. It's especially strong in industries with complex workforce structures like financial services, healthcare, education, and government.

Workday Financial Management covers the other side. It offers a cloud-based general ledger, accounts payable and receivable, procurement, asset management, and grants management. Workday Adaptive Planning adds enterprise-wide budgeting, forecasting, and scenario planning. If you're a CFO looking to replace a legacy ERP financial system, Workday is one of the top options.

The target customer is a large organization, typically with 1,000 or more employees. The sales team goes after CHROs and CFOs directly. Implementation usually runs through certified consulting partners. Customer retention is remarkably high. Gross retention rates top 95%, and net retention stays above 100%.

Subscriptions run on multi-year contracts, typically three years. Subscription revenue makes up over 85% of the roughly $10.2 billion in annual revenue. Professional services fill in the rest. Subscription gross margins sit around 78%, and operating margins keep improving with scale.

Workday has expanded through acquisitions like Adaptive Insights for planning, Peakon for employee engagement, VNDLY for extended workforce management, and HiredScore for AI-powered talent intelligence. Each one adds capabilities and deepens the value for customers managing complex workforces.

AI is now a central priority through Workday Illuminate. It embeds machine learning and generative AI for job description generation, skills matching, anomaly detection in financial data, and natural language analytics queries. The massive dataset spanning thousands of enterprise customers gives Workday a strong foundation for training specialized models.

With over 20,000 employees and more than 10,500 customers, including many Fortune 500 companies, Workday has become the modern platform of choice for enterprise HR and finance.