Workday Financial Management (which belongs in the broader ERP software category) appears to be gaining traction in the market, having matured sufficiently to be attractive to a large audience of buyers. It was built from the ground up as a cloud application. While that gives it the advantage of a fresh approach to structuring its data and process models for the cloud, the product has had to catch up to its rivals in functionality. The company’s ERP offering has matured considerably over the past three years and now is better positioned to grow its installed base. Workday recently added Aon, the insurance and professional services company, to its customer list (becoming its largest customer to date) and reported that its annual contract value (ACV - the annualized aggregate revenue value of all subscription contracts as of the end of a quarter) has doubled since the second quarter of this year, albeit from a low base. This is an important milestone because for years the company’s growth has come from the human capital management (HCM) portion of the business, not financials. Workday has around 160 customers for its financials (more than 90 of which are live) compared to more than 1,000 customers for HCM.
Topics: Microsoft, SAP, ERP, FP&A, Human Capital, NetSuite, Reporting, close, Controller, dashboard, reconciliations, report, Tax, Operational Performance, Analytics, Business Intelligence, Business Performance, Cloud Computing, Collaboration, Financial Performance, IBM, Oracle, Uncategorized, Accounting, CFO, Data, Amazon, BI, Financial Performance Management, FPM, Intacct, scorecard, Spreadsheets, treasury
The enterprise resource planning (ERP) system is a pillar of nearly every company’s record-keeping and management of business processes. It is essential to the smooth functioning of the accounting and finance functions. In manufacturing and distribution, ERP also can help plan and manage inventory and logistics. Some companies use it to handle human resources functions such as tracking employees, payroll and related costs. Yet despite their ubiquity, ERP systems have evolved little since their introduction a quarter of a century ago. The technologies shaping their design, functions and features had been largely unchanged. As a measure of this stability, our Office of Finance benchmark research found that in 2014 companies on average were keeping their ERP systems one year longer than they had in 2005.
Topics: Big Data, Microsoft, SAP, Social Media, Supply Chain Performance, ERP, FP&A, Human Capital, Mobile Technology, NetSuite, Reporting, close, closing, Controller, dashboard, Reconciliation, report, Operational Performance, Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud, Cloud Computing, Collaboration, Financial Performance, IBM, Oracle, Uncategorized, Accounting, CFO, Data, finance, BI, Financial Performance Management, FPM, Intacct, scorecard
Whatever Oracle’s cloud strategy had been the past, this year’s OpenWorld conference and trade show made it clear that the company is now all in. In his keynote address, co-CEO Mark Hurd presented predictions for the world of information technology in 2025, when the cloud will be central to companies’ IT environments. While his forecast that two (unnamed) companies will account for 80 percent of the cloud software market 10 years from now is highly improbable, it’s likely that there will be relentless consolidation, marginalization and extinction within the IT industry sector driven by cloud disruptions and the maturing of the software business. In practice, though, we expect the transition to the cloud to be slow and uneven.
Topics: Microsoft, Predictive Analytics, Sales Performance, SAP, Supply Chain Performance, ERP, Human Capital, Mobile Technology, NetSuite, Reporting, close, closing, Controller, dashboard, reconciliations, report, Tax, Customer Performance, Operational Performance, Analytics, Business Collaboration, Business Intelligence, Cloud, Cloud Computing, Collaboration, IBM, Oracle, Accounting, Business Performance Management (BPM), CFO, Data, finance, Financial Performance Management (FPM), Amazon, BI, Financial Performance Management, FPM, Intacct, scorecard, spreadsheet, treasury
Maximizing the performance and value of people in the workforce should be a primary focus for any business these days. It is a complex task, especially for larger organizations, and chances for success can be increased by investment in human capital management (HCM) applications. In this competitive software market SAP is making a strong push, aided by acquisitions in the last three years of SuccessFactors for talent management and more recently Fieldglass for contingent labor management. Recently I attended the SAP HCM analyst summit to hear about its direction and plans to grow its market share. The company has made progress since our last analyst perspective on it. Mike Ettling, SAP’s president for the HR line of business, discussed its newly refined strategy and organizational structure; the company has added executives from around the globe to emphasize its commitment to helping human resources organizations.
Topics: SAP, HCM, human resources, Learning, Performance, Recruiting, SuccessFactors, Operational Performance, Analytics, Business Analytics, Business Performance, Cloud Computing, Financial Performance, Compensation, HRMS, Vendor Management Systems, Workforce Analytics, Workforce Management, Workforce Planning
Big data has become a big deal as the technology industry has invested tens of billions of dollars to create the next generation of databases and data processing. After the accompanying flood of new categories and marketing terminology from vendors, most in the IT community are now beginning to understand the potential of big data. Ventana Research thoroughly covered the evolving state of the big data and information optimization sector in 2014 and will continue this research in 2015 and beyond. As it progresses the importance of making big data systems interoperate with existing enterprise and information architecture along with digital transformation strategies becomes critical. Done properly companies can take advantage of big data innovations to optimize their established business processes and execute new business strategies. But just deploying big data and applying analytics to understand it is just the beginning. Innovative organizations must go beyond the usual exploratory and root-cause analyses through applied analytic discovery and other techniques. This of course requires them to develop competencies in information management for big data.
Topics: Big Data, MapR, Predictive Analytics, Sales Performance, SAP, Supply Chain Performance, Human Capital, Marketing, Mulesoft, Paxata, SnapLogic, Splunk, Customer Performance, Operational Performance, Business Analytics, Business Intelligence, Business Performance, Cloud Computing, Cloudera, Financial Performance, Hadoop, Hortonworks, IBM, Informatica, Information Management, Operational Intelligence, Oracle, Datawatch, Dell Boomi, Information Optimization, Savi, Sumo Logic, Tamr, Trifacta