Microsoft Dynamics 365 vs Workday

2023. Workday unveils new HR-focused generative AI features



Workday, the enterprise management platform vendor, has unveiled a set of new generative AI features designed to enhance productivity and simplify business operations. Among the upcoming capabilities is the ability for Workday users to automatically compare signed contracts with those in the system, identifying inconsistencies. Additionally, the platform will enable the creation of personalized knowledge management articles and generate statements of work for service procurement. While most of these additions appear beneficial or at least benign, one feature raises concerns for this reporter: the AI-generated employee work plans. This tool will empower managers to swiftly compile summaries of employees' strengths and areas for improvement, drawing from various stored data sources such as performance reviews, employee feedback, contribution goals, skills, and employee sentiment, among others.


2023. Microsoft brings an AI-powered Copilot to Dynamics 365



Microsoft is introducing a new AI tool called Copilot, which aims to automate repetitive tasks in sales and customer service. In applications such as Dynamics 365 Sales and Viva Sales, Copilot can assist in composing email responses to customers and generate an email summary of Teams meetings in Outlook. The meeting summary incorporates information from the seller's CRM, including product details and pricing, and combines them with insights gathered during the recorded Teams call. In Dynamics 365 Customer Service, Copilot can draft "contextual answers" for customer queries in chat or email formats. It also provides an interactive chat experience for customer service agents, drawing from knowledge bases and case history. Additionally, Microsoft's AI Builder tool features a new "GPT" model that enables organizations to integrate text-generation capabilities into their Power Automate and Power Apps solutions, complementing the conversation boosters provided by Copilot.


2022. Workday turns more modern and personalized with new interface makeover



Workday, a provider of services for managing people and finances, has announced a comprehensive interface redesign across its product line, aiming to modernize and enhance usability for all users, including frontline workers, managers, and IT professionals. The new interface offers a personalized experience tailored to each user's job role, moving away from a one-size-fits-all approach. This not only simplifies user tasks but also empowers companies to customize the platform to their specific needs. One example of Workday's integration with other systems is its existing integration with Slack. Instead of using the Workday application to request time off, employees can now make the request directly within Slack, automatically routing it to their manager for swift approval. This integration streamlines the process and improves overall efficiency.


2021. Workday to acquire external workforce management startup VNDLY for $510M



Workday plans to acquire VNDLY, a startup valued at $510 million, which specializes in assisting companies with managing their external workforce personnel. Workday is renowned for its capabilities in finance and human resources management, and VNDLY perfectly complements the latter category by providing software designed to streamline contractor management. This feature becomes especially valuable during times when filling full-time job positions proves increasingly challenging. By joining forces, these two companies will enable customers to efficiently oversee both internal and external workers through a unified interface, eliminating the need for HR personnel to switch contexts based on worker types. Moreover, customers will gain the ability to proactively plan for their workforce requirements while effectively addressing compliance and risk factors associated with managing different types of workers.


2021. Microsoft announces new tools to modernize supply chain and manufacturing



Microsoft is introducing the Microsoft Cloud for Manufacturing, a new solution tailored for the manufacturing industry. Additionally, they are launching Dynamics 365 Supply Chain Insights, a tool that enhances supply chain visibility and provides intelligence to address issues proactively. The manufacturing cloud aims to gather signals and alert manufacturers about potential supply shortages, while the Supply Chain Insights tool helps identify and resolve issues along the supply chain before they become bottlenecks. Together, these solutions enhance agility and flexibility for manufacturing companies.


2021. Workday nabs employee feedback platform Peakon for $700M



Workday has announced its acquisition of Peakon, an employee feedback platform, for $700 million. As organizations grow in size and geographic reach, it becomes increasingly difficult for managers to have a comprehensive understanding of their company's dynamics. Peakon addresses this challenge by utilizing weekly surveys to gather targeted feedback on various aspects of the organization. By emphasizing the importance of quality data, Peakon has facilitated the asking of over 153 million questions since its establishment six years ago. This acquisition aligns with Workday's commitment to enhancing its capabilities in employee engagement and feedback analysis.


2020. Microsoft introduced its customer data platform inside Dynamics 365



Microsoft has made a significant announcement regarding its Dynamics 365 product line, in response to the growing volume of enterprise data and the need to collect and analyze it effectively to enhance customer experiences. The company is introducing new features to its customer data platform (CDP), a concept that has gained traction among major vendors and a growing number of startups. The CDP consolidates customer data from various systems into a single location, simplifying the understanding of customer interactions. The ultimate objective is to leverage this knowledge to deliver enhanced customer experiences. Microsoft's CDP is known as Customer Insights. It is important to note that Microsoft is not the only player in this domain. Other prominent companies like Adobe, Salesforce, and SAP offer similar products for similar reasons, as part of their marketing toolsets.


2019. Workday to acquire online procurement platform Scout RFP for $540M



Workday has recently finalized an agreement to acquire Scout RFP, an esteemed online procurement platform, for a significant sum of $540 million. This strategic acquisition serves as a valuable expansion to Workday's existing procurement solutions, namely Workday Procurement and Workday Inventory. Workday is dedicated to becoming a comprehensive, all-encompassing player in the cloud back-office arena, and addressing the gap in procurement has been one of their major priorities. As part of their broader vision for the future of Cloud ERP, Workday strategically invests in portfolio companies that complement their core offerings. In today's definition of ERP, various essential components such as finance, HCM (human capital management), projects, procurement, supply chain, and asset management are included, and Workday is committed to delivering a holistic solution covering these key areas.


2018. Microsoft launches new AI applications for Dynamics 365 CRM



A year ago, Microsoft made its debut in the field of AI solutions with its first offering in the Dynamics 365 portfolio. Today, Microsoft is expanding this portfolio by introducing three new products: Dynamics 365 AI for Sales, Customer Service, and Market Insights. Dynamics 365 AI for Sales is designed to empower sales teams by providing them with deeper insights into their prospects through sentiment analysis. While sentiment analysis may be considered a fundamental application of machine learning, AI for Sales goes beyond by assisting salespeople in determining the appropriate actions to take and prioritizing prospects effectively. Similarly, the Customer Service application employs natural language understanding to comprehend and predict customer service issues, leveraging virtual agents to reduce costs. Lastly, Dynamics 365 AI for Market Insights fulfills its name by equipping teams with valuable data on social sentiment, but it goes a step further by offering more comprehensive insights.


2018. Workday acquired financial modelling startup Adaptive Insights



Cloud-based HRM service Workday is set to acquire Adaptive Insights, a leading provider of cloud-based business planning and financial modeling tools, for a substantial sum of $1.55 billion. This strategic move by Workday aims to position itself as the primary destination for comprehensive back-office services catering to its business clientele. Workday plans to seamlessly integrate Adaptive Insights' robust suite of tools into its existing platform, offering an all-encompassing solution to its customers. With a vast customer base, Adaptive Insights has witnessed remarkable growth, mirroring the rapid expansion of cloud services and the emergence of business intelligence as a dedicated software category. This evolution has resulted in not only CFOs but also a multitude of in-house analysts relying on sophisticated data analytics to facilitate informed decision-making at various levels within organizations.