Workday, Inc. WDAY recently announced that Johns Hopkins has opted to deploy Workday’s solution suite to modernize its human resource and finance processes. Johns Hopkins is a non-profit organization that includes Johns Hopkins Health System and a renowned academic institution, Johns Hopkins University.
The organization has undertaken a multi-year business modernization program called Sightline, which focuses on enhancing data access and visualization, improving data governance and quality of data, ensuring compliance and streamlining HR, finance, sponsored research and supply-chain processes. The program is set to replace SAP’s enterprise resource planning program, used from 2007 with Workday’s AI native solution suite.
WDAY’s offerings include Workday Human Capital Management (“HCM”), which brings a wide range of smart and flexible suite of features. The solution integrated with machine learning capabilities better aligns talents with the right opportunities, optimizing the workforce. Its embedded AI capabilities automate routine HR tasks and free up employees for more intricate works, improving overall productivity. Its augmented analytics deliver actionable insights that improve decision making.
WDAY is also providing Workday Financial Management that intelligently manages all the financial processes such as record to report, procure to pay and contract to cash. It efficiently manages risk and ensures compliance by constantly documenting every transaction and change through electronic evidence.
Workday is offering its supply-chain management solution suite for Johns Hopkins Healthcare System. The solutions’ Workday Strategic sourcing improves engagement with suppliers for better value and quickly draws a clearer picture of ROI (Return on Investment). It reduces bad spending, optimizes contracts and minimizes uncertainty. Workday Inventory optimizes the management of critical supplies.
Will This Venture Boost WDAY’s Share Performance?
Recruiting, training and retaining skilled employees is a continuous challenge in the education and healthcare sector. Maintaining facilitates, managing supply-chain issues, navigating complex regulations and ensuring compliance with standards are additional challenges. Workday’s solution suite powered by its next-generation AI Workday Illuminate effectively supports education and healthcare entities to navigate through these challenges. It brings a modern cloud-based platform, that combines finance, workforce and operations data into a simple, unified system and enhances the experience for faculty, staff and students.
Workday is expanding its portfolio beyond core HCM solutions into the financial domain and is customizing them for diverse industries and verticals, such as education, the public and financial services, among others. This has helped the company witness strong renewals and expand its customer base as business enterprises aim to consolidate spend and improve efficiency levels. There is a rising trend of adopting advanced solutions for streamlining HR and finance processes in the education and healthcare industry. Workday is well positioned to gain from this emerging market trend.
WDAY Stock’s Price Movement
The stock has lost 8.2% in the past year against the industry’s growth of 33.4%.
Image Source: Zacks Investment Research
WDAY’s Zacks Rank & Other Stocks to Consider
Workday currently carries a Zacks Rank #2 (Buy).
Keysight Technologies, Inc. KEYS flaunts a Zacks Rank of 1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the last reported quarter, it delivered an earnings surprise of 5.10%. Keysight is expected to benefit from the growing proliferation of electronic content in vehicles, momentum in space and satellite applications and rising adoption of driver-assistance systems globally.
InterDigital IDCC sports a Zacks Rank #1 at present. In the last reported quarter, it delivered an earnings surprise of 114.47%.
It is a pioneer in advanced mobile technologies that enable wireless communications and capabilities. The company designs and develops a wide range of advanced technology solutions used in digital cellular, wireless 3G, 4G and IEEE 802-related products and networks.
Ubiquiti Inc. UI sports a Zacks Rank #1 at present. In the last reported quarter, Ubiquiti delivered an earnings surprise of 20.9%. Its highly flexible global business model remains apt to adapt to the changing market dynamics to overcome challenges while maximizing growth.
The company’s effective management of its strong global network of more than 100 distributors and master resellers improved UI’s visibility for future demand and inventory management techniques.
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InterDigital, Inc. (IDCC) : Free Stock Analysis Report
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