Workday Hints at Acquiring VNDLY in a $510 Mn Cash Deal

A few hours ago, Workday announced that it may acquire VNDLY, an external workforce management startup in a $510 million cash deal. The deal is slated to close by the end of January 31, 2022 – the fourth quarter of the Workday’s fiscal year 2022. 

According to a statement by Workday, the acquisition will allow its users to use its solutions to manage “end-to-end processes” for permanent employees and integrate external workforce data from VNDLY. This will enable them to formulate better plans, create a holistic talent strategy, plan workforce requirements, and more. 

SEE ALSO: Bakkt Stocks Shoot Up Amid Crypto Partnership with Mastercard

VNDLY and Workday’s unified solution

Companies from around the world have recognized that they need to modify their workforce composition. This is important to manage different types of workers and deal with a myriad range of contributors such as expanding the workforce to fulfill the increasing business needs. 

In addition, employees are also looking for flexible work arrangements along with more personalized experiences. The arrival of the pandemic has accelerated these demands, due to which, organizations are required to modify their workforce management. 

Companies of all sizes should embrace a holistic workforce management strategy to stay competitive and keep up with the evolving landscape. The combination of Workday Financial Management and Workday Human Capital Management (HCM) with VNDLY will offer a well-rounded unified solution. This platform will allow companies to manage, execute, and analyze their workforce. 

What will the new solution offer?

The coming together of VNDLY and Workday will offer organizations a centralized system to manage the records of their entire workforce. This will pave the way for better collaboration with different departments and functional leaders. 

The unified solution will offer an overview of your entire workforce – from full-time employees to part-time workers. Organizations will be able to make data-driven decisions and also adopt a better approach while analyzing rewards for contingent workers. 

The agreement states that Workday will partner and also invest in VNDLY’s managed services to offer critical service capabilities to customers. Besides, VNDLY will also continue to integrate with other third-party finance, IT, legal, and HR systems. 

More about VNDLY

VNDLY was founded in 2017 and primarily manages how different organizations manage their additional workforce. The cloud-based platform comes with a range of pre-built API integrations that enable users to create and support different tech ecosystems. 

More about Workday

Workday is a popular enterprise cloud platform for human resource and finance management. Workday’s solutions are used by over 1,000 organizations from around the world spread across a myriad of industries. 

SEE ALSO: Emerson Announces Plans to Merge its Software Units with AspenTech

Feature Image Source: Image by naor eliyahu from Pixabay

Karandeep V

Karandeep V

Karandeep was born in Pune, Maharashtra, an upcoming metropolitan city in the Western region of India. While most members of his family are engineers, he had different ideas. He was more inclined toward exploring the non-technical aspects of a business, which is why he studied Bachelors of Business Administration at Symbiosis International University, Pune.  Having said that, his love for new and upcoming technologies remained intact, which is why he has written extensively about technology throughout his career. After a brief stint with a gaming company at the beginning of his career, he discovered that his love for writing was not temporary.  Being a tech geek, he always liked installing and playing around with new applications on his mobile devices and the home desktop. He was fascinated by how technology can simplify even the most mundane and complex tasks with just a few commands. He keeps a close eye on how businesses use different tools to streamline their operations to boost productivity and efficiency. At ToolsMetric, he writes product reviews that cover the main features and specifications of different enterprise applications. The sheer amount of innovation and hard work that goes into building these tech solutions is one of the reasons why Karandeep loves reviewing these tools. Besides product reviews, he also writes interesting news articles and blogs that track the latest developments in the tech industry.  When he is not writing, you can find him rooted to his seat playing video games, watching movies, or supporting his favorite football team. Since his childhood, he has always loved to travel and explore new places. Traveling is a major part of his life due to a myriad of reasons such as experiencing new cultures, food, and traditions. His other hobbies include playing football, cooking, and running.  You can find him on LinkedIn here.

We will be happy to hear your thoughts

Leave a reply

Compare items
  • Total (0)