QuickBooks vs Workday
Last updated: September 14, 2022
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Workday is a leading provider of enterprise cloud applications for human resources and finance. Workday delivers human capital management, financial management, and analytics applications designed for the world’s largest organisations. Hundreds of companies, ranging from medium-sized businesses to Fortune 50 enterprises, have selected Workday.
QuickBooks vs Workday in our news:
2022. Workday turns more modern and personalized with new interface makeover
Workday, which offers a set of services to help companies manage people and finances, has announced an interface overhaul across the product line in an attempt to modernize and make it easier to use for everyone, from frontline workers to managers to IT. It delivers an experience based on job role, rather than having a one-size-fits-all interface. And it goes beyond making it easier for users to do their work but also enables companies to extend the platform for all the custom things. An example of how Workday has connected to other systems, even before this change, is its integration in Slack. Instead of requesting a day off in the Workday application, an employee can make the request in Slack and the request is routed automatically to a manager in Slack, who can quickly approve it.
2021. Workday to acquire external workforce management startup VNDLY for $510M
Workday is to acquire VNDLY, a startup that helps companies manage external workforce personnel for $510 million. Workday helps companies manage finance and human resources tasks, and VNDLY fits nicely into the latter category providing them with software to manage contractors, a service that should come in handy at a time where it’s increasingly difficult to fill full time job openings. Bringing the two companies together means that customers can manage internal and external workers from the same interface, saving HR personnel from switching context based on worker type. In addition, customers will be able to plan for workforce needs, regardless of the type, while managing internal and external compliance and risk requirements related to this type of worker.
2021. Workday nabs employee feedback platform Peakon for $700M
Workday is acquiring employee feedback platform Peakon for $700M. Managers of large organizations know that the bigger and more spread out your firm becomes, the more challenging it is to understand what’s happening across the company. The company uses weekly surveys to ask specific questions about the organization. For them it’s all about getting good data, and so far customers have used the platform to ask over 153 million questions since inception six years ago.
2019. Workday to acquire online procurement platform Scout RFP for $540M
Workday has entered into an agreement to acquire online procurement platform Scout RFP for $540 million. The acquisition builds on top of Workday’s existing procurement solutions, Workday Procurement and Workday Inventory. The company is trying to be the end-to-end cloud back office player and one of their big gaps has been in procurement. A lot of the Workday investments are in portfolio companies that are complimentary to Workday’s larger vision of the future of Cloud ERP. Today’s definition of ERP includes finance, HCM (human capital management), projects, procurement, supply chain and asset management
2018. Workday acquired financial modelling startup Adaptive Insights
Cloud-based HRM service Workday is buying Adaptive Insights, a provider of cloud-based business planning and financial modeling tools, for $1.55 billion. For Workday it's an attempt to become the go-to place for all for back-office services for its business customers: the company plans to integrate Adaptive Insights’ tools into its existing platform. Adaptive Insights has thousands of customers, and its growth mirrors that both of cloud services and specifically about how business intelligence has developed into a distinct software category of its own over the years, with not just the CFO but an army of in-house analysts relying on analytics of a business’ data to help make small and big decisions.
2018. Workday acquired AI-HR-startup Rallyteam
Workday acquired Rallyteam, startup that helps companies keep talented employees by matching them with more challenging opportunities in-house. Workday wants to take the Rallyteam team and incorporate it into the company’s engineering unit to beef up its machine learning efforts, while taking advantage of the expertise it has built up over the years connecting employees with interesting internal projects. Workday provides a SaaS platform for human resources and finance, so the Rallyteam approach fits nicely within the scope of the Workday business.
2017. Intuit acquired time-tracker TSheets
Intuit, the company behind products like QuickBooks, acquired TSheets, a time-tracking service and employee scheduling app with over 35,000 customers for $340 million. There’s an obvious overlap between the markets for QuickBooks and TSheets, both of which mostly target small to medium businesses. Indeed, Intuit tells us that the companies already share 12,000 customers. Clearly this isn’t a play to acquire new customers, but to build out the QuickBooks ecosystem and it’s worth noting that TSheets already offers an integration with QuickBooks. In talking to Intuit over the last few months, this idea of removing friction is very much at the heart of the company’s current product plans, especially with regard to QuickBooks.
2017. Workday acquired CRM startup Pattern
Financial management and HR software vendor Workday acquired two-year-old, Redwood City, Calif.- based startup Pattern. Thus Workday is going to compete with Salesforce and other alternatives. Pattern had aimed to lighten the load of managing customer relationships for salespeople and was funded by Felicis Ventures, SoftTech VC, First Round Capital, and various angel investors, who last year provided the company with $2.5 million in seed funding. Some of Workday’s past acquisitions include big data analytics vendor Platfora, acquired last year, and the online learning company Zaption, which Workday also acquired last year and promptly shut down. Terms for both deals were not disclosed.
2015. Workday is going to fund machine learning startups
Workday, the finance and human resources SaaS software provider, announced a new program called Workday Ventures, an investment arm focusing on startups with a machine learning bent. It intends to fund 10-12 companies this year and it has already funded several companies including Thinair, a security service; Unbabel, an online translation tool; Metanautix, a company creating tools to make sense of big data and Jobr, a mobile tool for searching and applying for jobs. As early stage startups with an emphasis on machine learning, these are the types of companies Workday is hoping to work with. Unlike a typical venture capital firm, Workday isn’t setting up a fund with a specific amount of money looking for a set return on its investments. Instead, it sees this as a strategic, rather than a financially motivated project.
2014. Intuit acquired cloud integration service ItDuzzit
Intuit continues to build out its cloud platform for SMB by acquiring itDuzzit — the startup that provides tools for businesses to integrate different web and mobile apps with each other (something think IFTTT for enterprises). The idea here is that Intuit will add itDuzzit to its QuickBooks platform, which provides accounting and increasingly many other adjacent services to businesses. ItDuzzit competes against the likes of Zapier and Cloudwork. The dozens of apps that can be linked up using the itDuzzit include the likes of Asana, Box, Coinbase, Freshbooks, PayPal and Shopify, with promises of further apps to come. What it essentially means is that while Inuit may not have its own hand in each of those pies (yet), it will give its customers an easy way of using them on its platform and with Intuit software regardless.