Workday will acquire Adaptive Insights for $1.55 billion in cash, with the transaction scheduled to close in the third quarter of this year. The combination adds Adaptive Insight’s well-developed cloud-based financial performance management software to Workday’s workforce and financial management suite. Workday says Adaptive will operate as a standalone business and continue with its current product strategy.
Employee engagement has been a dominant theme in both human capital management (HCM) and the systems to manage it in recent years; lately (though not necessarily appropriately) it is a topic often equated with the notion of the employee experience. On a related point, Gallup’s annual employee engagement survey has consistently found the majority of today’s workforce to be disengaged, defined as “not enthusiastic or passionate about their work.” Interest in the degree to which HCM technology can improve employee engagement (or mitigate disengagement) now rivals the attention given to such perennial chief human resources officer (CHRO) concerns as attracting and retaining top talent and retooling the workforce.
Topics: Big Data, data science, Human Capital Management, Machine Learning, Learning Management, Analytics, Business Intelligence, Cloud Computing, Collaboration, HRMS, Workforce Management, digital technology, Workforce Optimization
We now are well beyond the year depicted in 2001: A Space Odyssey, a cinematic perspective on the future of artificial intelligence in which HAL 9000, a computer, is able to simulate human behavior and control machines. Anyone reviewing the past two years of marketing around AI in the business technology industry can be forgiven for believing that we have arrived at the futuristic state Stanley Kubrick imagined. We have not.
Topics: Big Data, data science, Mobile, Customer Analytics, Customer Engagement, Customer Experience, Machine Learning, Mobile Technology, Analytics, Business Intelligence, Cloud Computing, Collaboration, Customer Service, Data Governance, Data Integration, Data Preparation, Internet of Things, Contact Center, Information Optimization, digital technology, Machine Learning and Cognitive Computing, Cybersecurity, Billing and Recurring Revenue, Workforce Optimization, collaboration for business
Blockchains are attractive because their built-in security and trust factors make them useful for almost all business interactions involving organizations and individuals. Blockchains have two basic functions. One is as a method for handling transactions involving property such as land deeds, trademarks or other assets. The second involves exchanges of data such as identities of individuals or businesses, the location of an object at a point in time or weather conditions. All interactions involving property or assets include the transfer of data as well, of course, but some blockchain use cases are informational only.
Topics: Big Data, data science, Mobile, Marketing Performance Management, Office of Finance, business intelligence, Analytics, Cloud Computing, Data Governance, Data Integration, Data Preparation, Internet of Things, digital technology, Digital Marketing, Digital Commerce, Operations & Supply Chain
Workday recently presented a technology summit for industry analysts. The presentations focused on Workday’s ongoing product advancements as well as its approach to employing emerging technologies. These technologies include artificial intelligence (AI) and machine learning (ML), robotic process automation (RPA) and bots utilizing natural language processing. Ventana Research uses the term “robotic finance” to refer to these technologies when used in the office of finance. In our view, they will have a profound impact on the nature of white-collar work over the coming decade. Financial management and ERP software vendors are focusing on these technologies because they will disproportionately affect finance and accounting departments: I estimate that their adoption has the potential to eliminate one-third of the accounting department’s workload within a decade.