Workday has announced continued growth in the retail industry. The company's retail and hospitality business has surpassed USD $1 billion in annual recurring revenue (ARR).
Top-tier global retailers across the Asia Pacific region, such as Aesop, Charles & Keith, Kolmar Korea, Mondelez, MUSINSA, PUMA SE, MGM China, and Osotspa Thailand, employ Workday solutions to gain real-time visibility over financial, workforce, and operational data across all areas of their businesses for enhanced decision making.
Many organisations have recently adopted Workday Financial Management or Workday Human Capital Management (HCM) to foster greater profitability, attract and retain a skilled frontline workforce, and promote ongoing planning to support business expansion and accommodate shifting industry requirements. This brings the total number of Fortune 500 retail and hospitality organisations that have chosen Workday to transform their operations to over 60%.
Pannie Sia, General Manager at Workday, ASEAN, said, "At Workday, we understand the need for real-time insights and agility in the retail industry. That is why we are thrilled to be collaborating with leading companies to unlock the power of a unified back and front office through innovative finance, HR, and planning solutions."
Praising the transformative effects of Workday's solutions, Dietmar Knoess, Vice President of People and Organisation at PUMA, stated, "Workday has fundamentally changed the way we work. We are now faster and more efficient than ever before. Workday makes life easier for our employees and managers and supports us in our pursuit of ever-better performance, true to our motto 'FOREVER. FASTER'."
However, the IDC infographic indicates that 44% of retailers claim limited visibility into operations across their businesses and lack confidence in the data they leverage for crucial decision-making. Additionally, 36% cite difficulty retaining and engaging frontline talent as one of their top business challenges.
Workday's solutions, including Workday Time Tracking, Workday Absence Management, Workday Talent Optimisation and others, provide retail organisations with a personalised employee experience, clear workforce and labour cost insights, and a streamlined management experience.
With greater visibility across the frontline workforce, retail leaders are now placed to quickly identify and fill essential skills gaps and decide whether to train, hire, or reallocate resources to meet changing business needs. This helps foster growth and boost employee engagement, productivity, and loyalty.
Pannie Sia highlighted, "With Workday AI, we are helping global retail and hospitality organisations to break down silos and gain the insights to support the business demands of today while empowering them to adapt to market shifts and evolving customer expectations."