Workday, Inc. WDAY has unveiled its cutting-edge global HR and payroll solution in collaboration with Strada, aimed at providing organizations with a unified view of their payroll data to enhance business growth and success.
Dubbed Workday Payroll provided by Strada, this solution leverages AI to analyze and interpret extensive HR and payroll data, providing predictive insights and supporting data-driven decision-making. It also aims to enable businesses to customize payroll services to meet local regulations and streamline compliance across various regions.
Additionally, it is expected to provide global employees with self-service access to their payroll information directly, including details such as pay slips, tax withholdings and employee demographics, all within Workday. This development will likely eliminate the need for multiple payroll systems and complex integrations, simplifying payroll data management.
As businesses navigate the complexities of evolving payroll regulations, distributed workforces and shifting employee expectations, the need for an agile and comprehensive payroll solution is critical to business success.
This expanded partnership between Workday and Strada marks a significant milestone in Workday’s journey to broaden its global reach. By expanding its long-standing collaboration with the technology-enabled and people-powered company, Workday aims to enable more organizations across the globe to benefit from its fully integrated HR and payroll solution.
Headquartered in Pleasanton, CA, Workday is a leading provider of enterprise-level software solutions for financial management and human resource domains. The company’s cloud-based platform combines finance and HR in a single system that makes it easier for organizations to provide analytical insights and decision support. Apart from Financial Management and Human Capital Management solutions, it offers applications related to Time Tracking, Recruiting, Learning, Planning, Professional Services Automation and Student.
Shares of Workday have gained 2.8% over the past year compared with the industry’s growth of 37%.
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Zacks Rank and Key Picks
Workday currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader industry have been discussed below.
Arista Networks, Inc. ANET, sporting a Zacks Rank of 1 (Strong Buy), supplies products to a prestigious set of customers, including Fortune 500 global companies in markets such as cloud titans, enterprises, financials and specialty cloud service providers. You can see the complete list of today’s Zacks #1 Rank stocks here.
It delivered a trailing four-quarter average earnings surprise of 15.02%. In the last reported quarter, Arista delivered an earnings surprise of 8.25%.
CommScope Holding Company, Inc. COMM is a premier provider of infrastructure solutions, including wireless and fiber optic solutions, for the core, access and edge layers of communication networks. It has a long-term growth expectation of 24.93%.
CommScope currently holds a Zacks Rank of 2 (Buy).
Harmonic Inc. HLIT enables media companies and service providers to deliver ultra-high-quality broadcast and OTT video services to consumers globally. It delivered a trailing four-quarter average earnings surprise of 32.5%. It currently sports a Zacks Rank of 1.
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