Technical Innovation and Embedded Artificial Intelligence Enable Global Organizations Like Boeing and Mondelez International to Meet the Growing Scale and Complexity of Large Enterprise Planning
PLEASANTON, Calif., July 11, 2023 /PRNewswire/ -- Workday, Inc. (NASDAQ: WDAY), a leader in enterprise cloud applications for finance and human resources, today introduced the next generation of its patented Elastic Hypercube Technology (EHT), the intelligent modeling engine that powers Workday Adaptive Planning, to address the growing demands on organizations as they model more complex business scenarios, manage changing business needs, and expand planning to more users.
Today's economic uncertainty, market volatility, and heightened competitive landscape mean planning teams must analyze and report on massive datasets while accounting for a vast number of scenarios. More dimensionality, new types of data and data sources, the emergence of artificial intelligence (AI) and machine learning (ML), and a growing number of stakeholders add even more complexity to the planning process, making it increasingly important that planning tools deliver ease of use, speed, and scale.
The next generation EHT in Workday Adaptive Planning is enhanced with new embedded AI and performance improvements that efficiently calculate complex models by adding memory and compute power as needed, resulting in dynamic, automatic scaling. This new technology is designed to support even the most complex multi-dimensional planning requirements and a high level of concurrent users, without sacrificing speed or performance.
Power and Scale, Without Compromising Flexibility and Ease of Use
Boeing transformed its workforce planning from a siloed process to a flexible, consistent, and scalable solution with Workday Adaptive Planning. With all its workforce data in one system, Boeing was able to standardize processes and increase visibility into open job requisitions, driving cost savings and operational efficiency.
"We transitioned from hundreds of manual spreadsheets in favor of a more flexible configuration on Workday Adaptive Planning, effectively eliminating our reliance on datasets that were disconnected from each other, which came with extra costs to administrate," said Jeremy McCann, manager of enterprise workforce planning, Boeing. "With the latest EHT innovations, we now feel more confident that we have the processes and visibility required to build the right workforce to execute on our long-term business strategy."
With Workday Adaptive Planning, Mondelez International has been able to work more effectively and make faster, more strategic decisions about the future of its non-production workforce.
"Planning is becoming more complex for large organizations, and with more than 90,000 employees across 82 countries, workforce planning at Mondelez is no exception," said Marcel Sakr, functional lead, performance, rewards & workforce planning, Mondelez International. "With Workday Adaptive Planning, we're able to analyze high volumes of data with multiple dimensions and pull detailed reports in seconds versus minutes. The next generation EHT has helped us gain employee-level visibility and simplify our monthly plan-to-actuals variance analysis, saving time and driving faster analysis decision-making."
Faster Answers to Complex Questions with Enhanced Performance, Speed, and Scale
With the next generation EHT, Workday Adaptive Planning customers will experience:
- Optimized speed and performance. Reports, dashboards, and sheets are designed to open quickly, without any performance degradation, including for very large, multi-dimensional views. Embedded AI in EHT will anticipate and compute calculations based on past behaviors and inspect the overall model to identify empty data cells where analysis is not required.
- Higher user concurrency support. With increased scalability, more users have access to the platform concurrently to accommodate the growing number of financial, human resources, and business users engaged with an organization's planning process.
- Accelerated data integration. Faster import and export of large amounts of financial and non-financial data will be delivered for complete and accurate models.
"For many organizations, the ability to quickly model and understand implications of business decisions and disruptions is more important than ever before," said Dennis Yen, general manager of Workday Adaptive Planning, Workday. "With our continued EHT innovations – including adding to the solution's existing AI and ML functionality – Workday Adaptive Planning is helping more than 6,000 companies take control and plan proactively for their futures by providing continuous planning, company-wide planning, deeper insights, and the ability to adapt and perform at scale."
Availability
The next generation of EHT is generally available to all Workday Adaptive Planning customers.
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About Workday
Workday is a leading provider of enterprise cloud applications for finance and human resources, helping customers adapt and thrive in a changing world. Workday applications for financial management, human resources, planning, spend management, and analytics are built with artificial intelligence and machine learning at the core to help organizations around the world embrace the future of work. Workday is used by more than 10,000 organizations around the world and across industries – from medium-sized businesses to more than 50% of the Fortune 500. For more information about Workday, visit workday.com.
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Forward-Looking Statements
This press release contains forward-looking statements including, among other things, statements regarding Workday's plans, beliefs, and expectations. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission ("SEC"), including our Form 10-Q for the fiscal quarter ended April 30, 2023, and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.
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SOURCE Workday Inc.
