Dive Brief:
- In a bid to strengthen its influence, popular HR cloud system Workday announced it will ship its financial planning module by September 2016, putting it in direct competition with partners Adaptive Insights, Anaplan and Tidemark.
- Workday now claims more than 150 corporate accounts for its financial management applications, including the city and county of Denver, commercial real estate company Cushman & Wakefield, and marketplace upstart Etsy, Fortune reports.
- Smaller companies, including Tidemark, are responding in turn, Fortune reports. Its latest update, including innovative corporate benchmarking capabilities, was released last week.
Dive Insight:
Workday’s upcoming financial app emphasizes “deeper analytics, including prebuilt dashboards for creating auditor reports or high-level project updates,” according to Fortune.
This announcement echoes a common theme sounded by many of the company’s higher-ups this past year: Workday isn’t just for HR pros. The company is aiming to expand into a broader platform for “people intensive business.”
Currently, Adaptive Insights is considered the leader for cloud-based finance software, bringing in business from Coca-Cola and LinkedIn.
