Already a leader in the finance and human resources market, Workday has now set it’s sight on the ERP market having begun positioning itself as a full-fledged ERP provider whose modern technology and customer-centric approach.
In doing so they’re making a pretty big statement about their expected growth – which isn’t unexpected considering they’re approaching $2.4 billion in revenue for calendar 2018 – and are threatening the likes of SAP and Oracle.
And it definitely seems to be the next area of focus from IT—first it was CRM and then HR, and now I think finance is the next big one to tackle.
However, the real trigger behind Workday’s transformation from a fairly broad provider of financial apps to a complete ERP-suite vendor was its acquisition 3 months ago of Adaptive Insights for $1.55 billion. This acquisition was a turning point for a company who has continued to go from strength to strength in the 12 years since their conception.
With their move into ERP, the size of Workday’s addressable market is quadrupled according to CEO Aneel Bhursi. It’s definitely exciting to see Workday grow and expand and to take on new challenges and opportunities as they do, so I’ll be staying tuned to see how this expansion plays out.