Workday Announces Intent to Acquire VNDLY





PLEASANTON, Calif., Nov. 18, 2021 (GLOBE NEWSWIRE) — Workday, Inc. (NASDAQ:WDAY), a leader in enterprise cloud applications for finance and human resource department, has entered into a definitive agreement to acquire VNDLY, a market leader in cloud-based remote workforce and supplier management technology. With VNDLY, Workday provides organizations with a unified workforce optimization solution that helps organizations manage all types of employees — salaried, hourly, temporary, and outsourced — and supports a holistic talent strategy, including visibility into costs, workforce scheduling needs, and compliance.

A unified solution to support evolving workforce dynamics
The future of work requires new ways of thinking about workforce composition and how to manage different types of employees, as organizations increasingly rely on a diverse mix of employees, including expanding their temporary workforce, to meet the growing business needs. requirements. In addition, employees are looking for more flexible work arrangements in pursuit of new skills and personal experiences. Accelerated by the demands of the pandemic, organizations must adapt their workforce definition and explore how to support it in new ways.

To keep pace in this changing world of work, organizations must embrace a more holistic workforce management strategy that values ​​the entire workforce. With VNDLY, which already has certified integration with Workday, combined with Workday Financial Management and Workday Human Capital Management (HCM), organizations have a comprehensive view of all employees. Customers can use Workday to manage the end-to-end process for permanent employees, while unifying VNDLY’s external workforce data to better plan, execute, and analyze their overall workforce. This includes the ability to:

  • Build a holistic workforce strategy for all employees. The combination of Workday and VNDLY provides organizations with a unified system to manage their entire workforce, enabling better collaboration with HR, finance, procurement and functional leaders to plan, execute and analyze the total workforce.
  • Gain insight into the total workforce, including costs. With a unified Workday and VNDLY solution, customers have visibility into their entire workforce, from full-time employees to contingent workers, with visibility into workforce, projects, benefits, benefits, contingent expenses, and their total workforce costs. And with Workday Prism Analytics and Workday Adaptive Planning, organizations can take an insights-driven approach to planning and analyzing aggregate compensation or expenses for contingent workers, all as part of a holistic workforce strategy.
  • Better planning and management of labor needs. To help clients respond to increased competition to manage talent and labor shortages, the solution will enable a more collaborative approach to sourcing and recruiting practices – from creating applications to finding talent from a variety of sources, to SOWs , onboarding, invoicing and payroll.
  • Manage compliance and security risks. Managing an expansive workforce requires compliance with various tax, co-employment and regulatory rules and rates that vary around the world. With VNDLY as part of Workday, customers can better manage their expanded workforce in compliance with local and global labor and co-employment laws. Customers can securely manage data and system access and better ensure process integrity.

As part of the agreement, Workday will continue to partner with and invest in VNDLY’s extensive network of managed services providers to deliver critical service capabilities to customers. In addition, VNDLY will continue to support and integrate with external HR, financial, IT and legal systems.

Comments on the news
“As organizations expand the definition of their workforce to meet growing demand from businesses and talent, they need solutions that provide a holistic view of all types of employees, including temporary workers, so they can better plan and meet the great opportunity. for them,” said Pete Schlampp, Chief Strategy Officer, Workday. “VNDLY is at the forefront of the supplier management industry with an innovative and intuitive approach. The powerful combination of our technologies and talent will help customers better manage their changing workforce dynamics, helping them keep pace. keep up with today’s changing world of work.”

“We have recognized the value of true cloud-based technologies in helping organizations adapt and evolve into a more complex workforce,” said Shashank Saxena, VNDLY Co-Founder and CEO. “By joining Workday, we can increase the value we deliver for customers and help provide greater visibility, collaboration, and oversight to staff needs and opportunities.”

Details regarding the proposed acquisition of VNDLY
Under the terms of the definitive agreement, Workday will acquire VNDLY for approximately $510 million, primarily cash, subject to adjustments. The transaction is expected to close in the fourth quarter of Workday’s fiscal year 2022, ending January 31, 2022, subject to customary closing conditions, including required regulatory approvals.

Orrick is legal counsel to Workday and Taft is legal counsel to VNDLY and its shareholders. BofA Securities is acting as financial advisor to Workday.

About Workday
Business day is a leading provider of enterprise cloud applications for: finance and human resource department, helping customers adapt and thrive in a changing world. Workday applications for financial management, human resources, planning, spend management, and analytics have been adopted by thousands of organizations around the world and across industries, from mid-sized businesses to more than 50% of the Fortune 500. For more information about Workday, visit workday.com.

© 2021 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.

About VNDLY
Founded in 2017, VNDLY is transforming the way companies manage their expanded workforce. VNDLY’s modern, cloud-based platform and pre-built API integrations enable us to create and support technology ecosystems while driving digital transformations. VNDLY’s clients including: Fortune 500 companies benefit from VNDLY’s configurable interface that enables program management changes as quickly as the market demands. VNDLY’s platform consists of four modules: contingent workforce management, job summary management, independent contractor compliance, and total talent acquisition. For more information, visit www.vndly.com.

Forward-Looking Statements

This press release contains forward-looking statements regarding Workday, VNDLY and Workday’s acquisition of VNDLY. These forward-looking statements are based only on currently available information and our current beliefs, expectations and assumptions. Because forward-looking statements are forward-looking, they are subject to inherent risks, uncertainties, assumptions and changes in circumstances that are difficult to predict, many of which are beyond our control. If risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from those implied by these forward-looking statements, and therefore you should not rely on forward-looking statements. Forward-looking statements in this announcement include, but are not limited to, statements regarding the potential benefits and effects of the proposed transaction; Workday’s plans, objectives, expectations and intentions with respect to VNDLY’s business; and the expected timing of the closing of the proposed transaction. Risks include, but are not limited to: (i) the risk that the transaction cannot be completed or not completed on time; (ii) failure to realize the expected benefits of the transaction; (iii) Workday’s ability to implement its plans, objectives and other expectations related to VNDLY’s business and its ability to deliver a comprehensive workforce optimization solution; (iv) adverse effects of the announcement or completion of the transaction on Workday’s business, results of operations or stock price; (v) unexpected costs associated with the acquisition; and (vi) other risks and factors described in our filings with the Securities and Exchange Commission (“SEC”), including our Form 10-Q for the fiscal quarter ended October 31, 2021, and our future reports that we may file with the SEC from time to time, actual results may differ from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.

Any unreleased services, features, or features referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday’s sole discretion and may not be delivered as planned or at all. Customers purchasing Workday services should make their purchasing decisions based on services, features, and functions currently available.

Contact person for investor relations:
Justin Furby
IR@Workday.com

Media contact:
Nina Oestlien
Media@Workday.com




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