Workday focuses CXOs to reach $2 bn revenue target

Workday said its revenue reached $436.7 million (+35 percent) in Q4 and $1.57 billion (+35 percent) in fiscal 2017.

Workday’s subscription revenue was $365.2 million (+39 percent) in Q4 and $1.29 billion (+39 percent) in fiscal 2017.

Q4 operating loss of Workday was $106.2 million, or negative 24.3 percent of revenues, compared to an operating loss of $73.4 million, or negative 22.7 percent of revenues.

“Our performance was driven by a combination of our industry-leading products and technology, continued high levels of customer satisfaction,” said Aneel Bhusri, co-founder and CEO, Workday.

Technology Business Review says Workday’s increased engagement with the C-Suite is paying off, as the company grew revenue 35 percent and continued to capture share in the Fortune 500. Workday signed 13 Fortune 500 customers in the quarter, including Wal-Mart and BP.

“Workday’s continued penetration of the Fortune 500 often comes at the cost of incumbents Oracle and SAP, showing Workday’s viability in enterprise back offices,” said Kelsey Mason, analyst at TBR.

Workday restructured its go-to-market strategy at the start of FY2018. Chano Fernandez is executive vice president of global field operations. Workday has divided its North American sales and professional services teams to focus on medium enterprises and large enterprises separately.

TB says the go-to-market strategy combined with a key infrastructure partnership with Amazon Web Services and ongoing portfolio expansion will help Workday reach its goal of exceeding $2 billion in FY2018 annual revenue.

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