Information and financial services giant Thomson Reuters has more than 55,000 employees spread over 100 countries.
While the company recently considered upgrading its existing HR system to accommodate change and growth, it eventually opted instead to use Workday's software-as-a-service (SaaS) offerings for human capital management and payroll.
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Workday last week updated its SaaS platform with the release of Workday 14, which features embedded intelligence designed to provide contextual information for business processes. In other words, in-memory data management allows managers to view relevant information all in one place instead of hunting around for contextual data.
For example, if a manager were conducting a performance review using Workday 14, he or she would be able to view the employee's previous performance reviews, current compensation, compensation history and compensation relative to peers all on a single screen.
The new version of Workday includes increased financial management functionality for large, complex multinational corporations such as Thomson Reuters, as well as features geared toward the public sector and higher education.
Among the features in Workday 14 for higher education are union management and membership tracking, custom reporting for Integrated Postsecondary Education Data System requirements and position budget checking.
In a statement announcing Workday 14, company CTO Stan Swete said, "Business users can quickly and easily build and embed custom charts, graphs and tables directly into their business processes without requiring the assistance of IT or having to know Java, SQL or understand all the traditional BI jargon."
Workday has more than 200 clients, including Brown University, McKee Foods, Salesforce.com and The Carlyle Group.
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