Why Workday thrives despite downturn

October 27, 2020 - Research U173

While many software vendors weathering the COVID-19 economic downturn had to settle for slight dips in revenue, Workday touted strong earnings for the first half of its 2021 fiscal year (February 1 to July 31, 2020) with over $2B in revenue generated, up 21 percent from the same period last year. Having successfully integrated Adaptive Insights and Scout RFP into its portfolio, Workday has continued to increase the scale of its operations to attract enterprise-grade customers. The vendor is positioned to accelerate net-new customer growth as businesses modernize their IT ecosystems to adjust to the new normal. Nucleus believes Workday’s rapid development of its product line will lead to growth across its target industries as it capitalizes on the increased demand for cloud solutions.