Workday, Inc., was enthusiastically greeted by investors on its first day of trading with the stock jumping 74 percent. Workday was founded in 2005 by David Duffield and Aneel Bhusri following Oracle’s hostile takeover of PeopleSoft. Staying true to these human capital management (HCM) and financial roots, Duffield and Bhusri have built the PeopleSoft of the new millennium and investors have rewarded them richly for their focus and vision.
The Workday applications are built from the ground up on top of an object model as, and delivered through the cloud as, a multi-tenant solution. At the core of the solution’s architecture and design is a focus on cloud, mobile, and social capabilities. The funding from the initial public offering will allow Workday to enhance and extend its existing product offerings.
The question now is the future direction for Workday. Now that it is public, it will need to focus on turning a profit before it can expand into other application areas. It will also need to expand the functional application footprint to be able to compete with vendors who offer broader enterprise resource planning (ERP) solutions. Hopefully, these competing market drivers won’t distract Workday from continuing to deliver truly innovate solutions to the marketplace.