Expanded ESG Offerings from Workday Support Global Customers' Social and Sustainability Initiatives
Workday, a pioneer in enterprise cloud software for finance and HR, introduced new solutions and increased capabilities to help multinational clients meet shifting ESG standards. The company's current product portfolio supports ESG goals with belonging & diversity solutions, sustainable sourcing, compliance training, and pervasive audit and internal controls features.
Organizations worldwide are facing mounting regulatory pressure, such as the new standards recently proposed by the SEC in the U.S. and European Financial Reporting Advisory Group (EFRAG) in the EU, as well as growing interest and demand from investors and other stakeholders for businesses to adopt sustainability strategies and best practices. As a result, Workday is expanding its ESG offerings to continue helping customers gain visibility and insight into data that is critical to meet current and developing ESG requirements.
Additionally, Workday is enabling its broader ecosystem — including customers, partners, and the wider developer community — to deploy and adopt new ESG capabilities by using open standards and technologies to build extended solutions on the Workday platform, helping to support global customers' ESG initiatives across regions and industries.
Harnessing ESG Data with a Flexible Platform Workday offers a flexible platform that helps enable customers and partners to adapt as ESG regulations continue to develop. As a source of truth for two key components of ESG reporting and compliance – worker and supplier data – Workday is uniquely positioned to support customers as they evolve their social, corporate responsibility, and sustainability efforts to meet disclosure requirements, helping them track how they're progressing toward goals.
With the ESG imperative more pressing than ever before, Workday is building on its existing offerings by continuing to innovate to help its global customers accelerate and expand their ESG efforts with:
Streamlined Workforce Reporting to Measure ESG.
Increased Access to Data to Help Select Sustainable Suppliers.
Tailored Solutions from Partners Built on Workday
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Comments on the News
"As we look to create a more sustainable future, Workday is committed to being a proactive partner, driving continued innovation to help customers advance their ESG initiatives,"
said Pete Schlampp, chief strategy officer, Workday.
"We're not only meeting customers where they are today, but, through our own investments and openness, we're extending the value we bring to customers through our ecosystem to help them get to where they need to be in the future."
"Recent events, including the global pandemic, social unrest, and heightened employee activism, combined with increased investor and employee interest and an evolving regulatory landscape, have catalyzed the demand for solutions that help streamline, simplify, and increase transparency around the analysis and reporting of ESG information in a standardized and metrics-driven way",
said Bjoern Stengel, practice lead, global sustainability research, IDC.
"There's a significant opportunity here for forward-thinking cloud solutions to drive efficiency in ESG reporting and help enable companies to focus on strategic ESG initiatives and delivery by providing critical operational data that supports them on their sustainable transformation journey."
"Deloitte built Accelerate2zero to help clients navigate the road to carbon neutrality with scenario planning and model pathways,"
said Jennifer Steinmann, global climate & sustainability marketplace leader, Deloitte.
"Clients' demand for customized solutions created an opportunity to innovate on the Workday platform. The collaborative functionality in Workday Adaptive Planning meant Deloitte was able to link climate-reduction strategies to financials and provide clients with a more complete picture of their carbon emissions progress and forecasts."
Source: Workday newsroom