Monday, April 14, 2014

Workday sees opportunity for cloud financial management in Europe

When browsing through the news headlines of computer weekly, came across a very interesting article regarding cloud computing and it’s persistent integration to various daily practices. As cloud computing technology continues to progress, every day there is more and more news of bigger companies using cloud computing as a means to increase efficiency and productivity, and as a result major companies overseas in Europe are taking advantage. Workday, a cloud service company, has just announced that they plan to change the way they look at financial tasks by competitively offering entirely cloud based financial and accounting software.

Chano Fernandez, the president for Workday in Europe, says that there is huge opportunity to expand it’s financial management technology on a global scale, saying it has twice the sizeable market as their main human resources market. Although this is noted as a breakthrough, many industry analysts are weary of the company’s actions, and whether their future will actually be as bright as it may seem. Workday, as the article states is a very young company, and since it’s founding in 2005 truly made their success from nothing. As apparent as their future success may be, many executives are still skeptical because even though they have made a competitive name for themselves, companies like SAP and Oracle have much larger customer bases, experience in the market, and of course company recognition.

“Workday is still on the journey of internationalizing their business. Compared with the size of the overall business, it is still a teenager in Europe in terms of maturity,” said Wilson. It’s clear that Workday has really taken the spotlight as far as found attention as they plan to internationalize their cloud financial software, it just seems more realistic for companies like Oracle, or SAP to take their idea and apply it to their current customer base, and as a result sort of piggyback off the success that Workday has tried to bring to themselves.

            Out of the few articles I read, this really stuck in my head as the most powerful one. Although my post does not do it justice, this truly is a breakthrough in technology, it’s just so newly found that we wont see it’s true success until he future when it becomes more integrated. Companies every day are pushing the limits and status quo of cloud computing, and with more advancements comes more discoveries, and these brand new advancements haven’t even reached to the US yet. Think back no more than a decade or two ago, when major financial companies would use ledgers, journals, and paper and entirely human operated financials in accounting financing and other sectors. Now in 2014, we’re seeing such advancement that numerous cloud companies are offering software to increase productivity and efficiency in the financial and HR department in these European enterprises. With that all being said it continues to blow my mind how the world of cloud computing, and the market that holds it moves forward with such great strides, most cannot keep up with the advancement.

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