We – as Realright consultants – are more than enthusiastic about Workday as compared to the products developed by competitors and we would love to convince you of this personally.
But apart from our own opinion, how does Workday compare with competing offers? The Sierra Cedar’s 19th Annual HR Systems Survey, one of the most important studies in this field, provides annual figures on the HRIT market. 424 medium and large companies participated in the survey this year and shared information about their current HRIT infrastructure and their development plans in this area.
The results show that a large proportion of customers still rely on On-Premise HCM systems, but investments into this technology are not to be expected from the figures. The market share of Oracle PS and SAP HCM will shrink by 3% and 8% respectively in the coming year. The Cloud Solutions systems Workday, SuccessFactors, and Oracle / Taleo, on the other hand, can all hope for more customers in the coming months. With an adaptation rate of around 18% for medium and large companies, Workday already stands out clearly from other cloud systems in the market. Oracle / Taleo currently shows a spread of 7%, SuccessFactors currently 8%. For the coming year, Workday’s customer base is expected to grow by around 7% among medium-sized and large companies. In the case of smaller companies, too, the system can record the highest growth rate of 4% compared to the competition. According to these figures, Workday will be on the same level as the long-established SAP HCM Suite for large customers in 2017. Oracle / Taleo and SuccessFactors can expect these figures to grow by only 3%. This shows that potential customers clearly prefer Workday to other HCM solutions.
In addition, the study shows that external consultants are valuable partners in HRIT implementations. The introduction of new HRIT solutions was generally more efficient when the project was actively supported by external consultants. Projects are completed 20% faster when external consultants are involved in at least 60% of the implementation projects, accompanied by compliance with given budget limits.
We are very pleased with the results of the Sierra-Cedar study and are convinced that we add substantial value for our customers due to our consulting practice for Workday.