Workday Inc (NYSE:WDAY) is ready to rise to the next level now that the rate of its customer base is increasing.
The company only signed up 100 customers on its cloud financial management software between 2008 and 2014. It somehow managed to double up the numbers by the end of 2013 and the company continues to enjoy more growth to date. Workday’s sales team is looking to take advantage of the increasing growth rate to boost the company’s performance and appeal.
The team claims that it has a lot of hope because there are many companies that still rely on enterprise resource planning systems and accounting systems that are more than ten years old. The company’s CEO, Aneel Bhusri stated that these firms require upgrades that are painful and highly expensive for them to be in line with compliance regulations.Mr. Bhusri stated that those factors make Workday more appealing to those companies looking for an alternative cloudsoftware solution.
He also spoke in San Francisco this week at the Morgan Stanley Technology Conference here he said told the audience that he was not expecting such a big opportunity for his firm. The company recently rearranged its sales team so that it can sell human resources applications and financial management apps to the customers. J B Hunt Transport Services Inc (NASDAQ:JBHT) is one of the companies that recently started using financial software from Workday. The company had two different sales teams for its products.
Workday has been attracting new customers through vocal reference accounts as well as including new features in products that are going through the development phase.The CEO of the firm stated that it is a better idea than relying on backwards compatibility. Bhusri also stated that his company is not intimidated by cloud rivals such as Oracle Corporation (NYSE:ORCL) and SAP SE (ADR) (NYSE:SAP). He backed up his statement with a claim that the rivals are restricted by the complexities of their past offerings.