Workday was founded by Dave Duffield, who had founded PeopleSoft, and Aneel Bhusri, a former PeopleSoft executive, following Oracle’s hostile $10.3 billion takeover of PeopleSoft in 2004. A year later, Dave and Aneel launched a new company based on a Software-as-a-Service delivery model, and the belief that large and mid-size companies deserved better than the traditional on-premise software model and its inherently high costs related to up-front licensing and maintenance fees and long, complicated software upgrade cycles.
Seven years later, Workday is considered one of the most interesting and dynamic companies in the often ho-hum area of enterprise software. Workday’s primary products are Human Capital Management and Payroll, and it’s growing its customer base for a new product, Workday Financials. Workday says it’s built a modern infrastructure from the ground up to deliver subscription-based, multi-tenant SaaS, letting it deliver new innovations to customers several times a year in updates that typically take just a few days, rather than the often painful, months-long upgrade cycles associated with traditional software.
While SaaS is often considered an SMB product, most of Workday’s customers (nearing 200) are large or mid-size companies, some of which have tens of thousands of employees using Workday across the world (with many of those being former Oracle/PeopleSoft and SAP customers). Co-CEO Aneel Bhusri reported that in 2010, Workday’s GAAP revenue growth was up 160% and its workforce was up 55%, to 599 employees, over 2009. Aneel and Dave have been quite public about a plan to take the company public, with an eye toward the second half of 2012.
We invite you to explore Workday’s site…