Workday Announces Continued Retail Industry Momentum Driven By Accelerated Demand for AI Solutions that Help Fuel Organizational Agility and Growth
More Than 55% of the NRF Top 100 Retailers Are Using Workday to Elevate the Frontline Worker Experience, Increase Productivity, and Manage Operational Costs
PLEASANTON, Calif., Jan. 11, 2024 /PRNewswire/ -- Workday, Inc. (NASDAQ: WDAY), a leader in enterprise cloud applications for finance and human resources, today announced continued momentum in the retail industry, with the company's retail and hospitality business exceeding $1 billion in annual recurring revenue (ARR). Leading global retailers including Best Buy, Cinemark Holdings, Inc., Crumbl Enterprises, LLC, Dave & Buster's, Inc., Dick's Sporting Goods, Kolmar Korea Holdings Co., Ltd., KPB Brands, MUSINSA Co., Ltd., IDKIDS, O'Reilly Automotive Stores, Inc., PARQUES REUNIDOS, S.A., Whataburger, Weis Markets, Inc., and more have recently gone live on Workday to gain real-time visibility into financial, workforce, and operational data across the front, middle, and back offices for improved decision making.
As part of this momentum, Group1 Automotive Inc., KIKO MILANO, Sunshine Bouquet Company, Sweetwater Sound, Inc., Teasdale Foods, Inc., and more have recently selected Workday Financial Management or Workday Human Capital Management (HCM) to drive greater profitability, attract and retain a skilled frontline workforce, and enable continuous planning to support business growth and adapt to changing industry needs. They join customers On, P.F. Chang's, and the more than 60% of retail and hospitality organizations in the Fortune 500 that have chosen Workday to transform their operations.
"In our fast-paced industry, it is critical that we bring together our back and front office solutions so our leaders have a single, unified source of truth for viewing, managing, and optimizing our operations," said Art Kilmer, chief operations officer, P.F. Chang's. "With Workday AI and its continued workforce management innovations, we can adapt quickly to changing labor and customer expectations and better support our mission in delivering engaging experiences for our employees and guests."
Putting the Frontline Worker Experience at the Forefront
According to an IDC infographic*, 44% of retailers say they have limited visibility into operations across the front and back offices, and lack confidence in the data used to drive impactful decision making. Further, 36% cite difficulty in retaining and engaging frontline talent as one of their top business challenges.
Workday delivers a single, connected workforce management system – including Workday Scheduling and Labor Optimization, Workday Time Tracking, Workday Absence Management, Workday Talent Optimization, Workday Payroll, and more – that provides retail organizations with a personalized worker experience, clear workforce and labor cost insights, and a streamlined manager experience. With visibility across the frontline workforce, retail leaders can identify and quickly fill critical skills gaps and determine whether to train, hire, or realign resources to meet changing business needs. This helps nurture growth and increase employee engagement, productivity, and loyalty with user-friendly workforce tools.
Accelerating Digital Finance Transformation with an Expanded Partner Ecosystem
Retail organizations need finance, workforce, planning, and business agility to respond to shifting market and economic conditions. To help customers speed their digital transformation efforts and accelerate time to value, Workday empowers them to leverage both Workday and partner solutions.
Workday recently announced an expanded partnership with Accenture to develop a suite of data-led, composable finance solutions that can be configured to help retail clients be more responsive to changing business needs. Workday and Accenture plan to offer customers pre-packaged integrations, configurations, and reports to optimize the integration of Workday Financial Management with other best-of-breed merchandising and inventory solutions, providing finance and store operations teams with better insight on inventory and store data to make the right products available in the right place; a comprehensive retail and analytics solution that provides dashboards for store operators to better understand store performance; and a strategic workforce management solution that provides retailers with a fact-based solution to plan and manage their workforce.
Additionally, Workday Solutions Marketplace offers numerous retail-specific solutions, allowing customers to easily discover, learn, and evaluate trusted solutions from Workday certified partners that help address their unique business needs.
"Organizations worldwide trust Workday to better manage their two biggest assets – their people and their money – and we're proud to support leading retail and hospitality workers with innovative finance, HR, and planning solutions," said Keith Pickens, head of retail, Workday. "With Workday AI and our expanded partner ecosystem, our retail customers have the tools they need to support the business demands of today while empowering them to anticipate and react to the challenges of tomorrow."
For More Information
*Source: IDC Infographic, sponsored by Workday, Enterprise Software Drives the IT and Finance Operations of the Insurance Industry, doc #US50932323, July 2023.
© 2024 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.
Any unreleased services, features, or functions referenced in this document, Workday's website, or other press releases or public statements that are not currently available are subject to change at Workday's discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available.
View original content to download multimedia:https://www.prnewswire.com/news-releases/workday-announces-continued-retail-industry-momentum-driven-by-accelerated-demand-for-ai-solutions-that-help-fuel-organizational-agility-and-growth-302032738.html
SOURCE Workday Inc.