Workday has released a beta of its financials application which accompanies the earlier release of its human capital management service. If you want a more technical read on this, then check out my ZDNet entry. My colleague Dan Farber has his own take. Several things are worth reiterating and/or embellishing:
- This is not your average financials application. It is taking an entirely different approach where people sit at the centre of the application rather than the general ledger. In that sense, it may look like an ERP app but it isn’t.
- Governance and audit are baked in so there’s little requirement to systems test but that doesn’t mean audit can be ignored. It will help concentrate the mind on finding real errors rather than worrying about systems viability.
- It successfully avoids the complexity associated with handling databases because a database is not required in the same way as it is for traditional styles of application.
- Using tags – Worktags as they’re called – makes for a much more flexible and agile system. Changes can be made in flight.
- Starting prices ($100K) are highly competitive for the market they’re aiming at and open up the marketplace. The early adopter organization Workday is aiming at will find the price point attractive for the relative risk.
- It is global right out the gate so the potential to capture share in many markets is immediate.
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