Workday and Insperity have launched a strategic partnership to take Workday’s leading Human Capital solutions and combine Insperity’s workforce optimisation services to build an offering targeting small and midsize business.
Workday & Insperity Alliance
Workday, Inc. and Insperity, Inc. have formed an exclusive strategic agreement aimed at transforming the human resources environment for small and midsize organisations. The collaboration will centre on the creation and marketing of a comprehensive HR solution that will leverage Workday’s technology and Insperity’s HR services.
The partnership’s purpose is to offer customers a comprehensive HR solution that combines Insperity’s Workforce Optimisation service with Workday Human Capital Management (HCM). This solution is intended to manage the complete employee lifecycle and optimise talent management, payroll, benefits, and compliance operations using a unified cloud-based system.
Paul J. Sarvadi, CEO of Insperity, emphasised the importance of the agreement, adding that it blends Workday’s cloud technology with Insperity’s HR knowledge to provide a better client experience. Carl Eschenbach, CEO of Workday, reiterated this perspective, emphasising the partnership’s potential to expand Workday’s platform to more organisations, particularly those in their early phases of growth.
The new solution is designed to make HR services more accessible, cost-effective, and adaptable for growing firms, giving them a competitive advantage in today’s changing market.
While the companies have offered an overview of their collaborative vision, pricing and availability of the new HR solution will be revealed in the following months.
The news signals a strategic partnership between Workday, known for its enterprise cloud apps, and Insperity, known for its complete HR solutions and services, to develop a product that precisely targets the needs of small and medium-sized organisations.
The Workday Solution
Workday, Inc. is a prominent provider of enterprise cloud applications for finance and human resources. Founded in 2005, it offers software solutions that are highly regarded for their innovation and comprehensiveness in managing various business functions. Key modules and capabilities include:
- Human Capital Management (HCM): Workday’s HCM suite is a cornerstone of its offerings, providing tools to manage the entire employee lifecycle. This includes recruiting, talent management, payroll, learning and development, and more. It’s designed to help organisations manage and optimize their workforce.
- Financial Management: Workday’s financial management solutions are designed to provide real-time visibility into various financial operations. It encompasses financial planning, analysis, accounting, procurement, projects, and reporting. This helps organisations streamline their financial processes and make informed decisions.
- Planning: Through the acquisition of Adaptive Insights, Workday’s Adaptive Planning offering combines budgeting, forecasting, and financial planning, enabling businesses to plan more effectively. It integrates with both HCM and financial management modules for a more unified approach.
- Analytics and Reporting: Workday provides extensive analytics and reporting capabilities. It allows businesses to create custom reports and dashboards, offering insights into various aspects of the business.
- Professional Services Automation (PSA): This tool is aimed at service-based businesses, helping them manage projects, resources, and financials more efficiently.
- Student: A lesser-known but important part of Workday’s portfolio is its student information system. It’s designed for the education sector, managing student recruitment, records, and financials.
As a fully cloud SaaS offering, Workday software is known in the market for its clean architecture, user interface, scalability, and integration capabilities, with emphasis on data security and compliance – critical for enterprise-level solutions.
With the Insperity announcement relating to Human Capital Management, this comprehensive suite of applications typically accessible only to large Tier 1 Enterprise customers, will now be positioned to help businesses of all sizes optimise their operations, adapt to change, and grow.
