Workday has released new applications to targeted at the finance and human resources departments of enterprises.
The two applications, Workday Talent Insights and Workday Professional Services Automation (PSA), are part of the new product suite Workday Insight Applications, which uses data science and machine learning to inform enterprise decision-making.
Workday Talent Insights uses analytics to provide predictive insights. The Retention Risk Analysis software uncovers trends in historical data about turnover to identify and understand retention risk for the organisation or a specific department. It can also identify the top risk factors and project the cost of potential staff losses.
Customers can use scorecards to track workplace and organisational performance, with the product also hosting tools to tap structured and unstructured data sources.
Meanwhile, Workday PSA unifies people, project and resource management, time and expense tracking, revenue management, and reporting and analytics in one system. The organisation can search through internal talent pools and forecast resources to plan projects.
Another feature of Workday PSA is a financial management solution, allowing finance teams to support billing, revenue recognition and financial reporting needs for different projects.
In addition, the software taps the enterprise mobility market, allowing a mobile workforce to access insights and submit information such as expense receipts or timesheets. Project managers can use mobile capabilities to view a project’s progress and take action on tasks awaiting completion.
"Today’s most successful businesses are built around people. They are a company’s most valuable asset and competitive edge, which is why Workday is committed to delivering a smarter system that equips our customers to hire, engage, and retain the best," said Leighanne Levensaler, senior vice president, products, Workday.
Levensaler added: "With Workday Talent Insights and Workday Professional Services Automation, we are delivering on that commitment — helping our customers replace instinct with insights to improve how they manage people, run client teams, and collectively, drive the business forward."