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Workday : A Cloud Based Human Resource Management Solution

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Workday: A Cloud Based Human Resource Management Solution
Introduction
Human resource management’s (HRM) role is changing in business. In the past, HR was a nothing but an administrative support function, now it is a key player in a business’s strategic planning. Today HR must have the ability to manage employees in way that contributes directly to a organization’s strategic goals. This sudden paradigm shift in purpose now feeds HR manager’s need for integrated systems that also include business intelligence. As companies look for more responsive and effective systems, outdated HR systems fall to the wayside as new modern and agile systems evolve.
The human resources and workforce management software industry is changing and becoming more competitive. Businesses are looking for ways to leverage technology, so that they can gain a strategic advantage; and software industry vendors are looking for ways to differentiate themselves in the market. Traditionally, on premise licensed software was the standard for enterprise HR, now cloud systems, also known as software as a system (SaaS), are drawing a lot of attention. This software solution gives businesses an advantage by unifying all functions on one system, whereas legacy on premise systems have limited compatibility and require several months and millions of dollars to upgrade.
In 2005 Dave Duffield--a well-known software visionary, and his friend Aneel Bhusi, the Director of Planning at PeopleSoft, decided to form a

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