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May 2014

Workday sees opportunity for cloud financial management in Europe

Cloud services company Workday plans to step up competition by offering cloud-based financial and accounting software to enterprises in Europe. The company, which has established a track record in cloud HR services, claims there is a huge opportunity for its financial management service. Chano Fernandez, European president for Workday, said the technology would be a priority for the company as it expands beyond the US. “In Europe the financial market is almost twice the addressable market of the HR market,” he said. Analysts cautious But industry watchers have questioned whether Workday will be seen as first choice for cloud financial and accounting services given its strong focus on HR technology. “Clearly they see financials as an important piece in their overall play and they are gunning for a joint proposition with HR. I am less convinced about them gunning as a pure play in financials,” said David Wilson, managing director of HR technology analyst at Elearnity. Workday senior executives’ presented their strategy at briefing...

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