Workday Pricing

Workday's pricing model is a function of an organization's size, and prices are usually presented upon speaking with their sales representatives. However, estimated contract ranges based on headcount can help give an idea of budget considerations. For a smaller organization of around 200 employees, the contract cost can range from $108,400 to $141,100. For a larger organization of around 1,000 employees, the contract range lies between $195,100 and $254,100. Organizations with an even higher headcount of more than 1,001 can expect contract costs to fall within the range of $247,400 and $341,300.

For additional services like Workday Adaptive Planning, the contract cost for an organization of about 200 employees can range from $18,000 to $31,200. For larger organizations with around 1,000 or more employees, they can expect to pay anywhere between $30,000 to $43,000 or $47,500 to $82,400 respectively. The specific price for Workday Adaptive Planning, however, ranges from approximately $5,900 to $25,100. Free trials for Workday Adaptive Planning are often available upon request.

Workday Negotiation Insights

When negotiating your Workday contract, there are various factors that can provide leverage points for securing the best pricing. Inside the Vendr platform, you'll uncover a plethora of such discount levers and commercial items. Here's a snapshot of what you can take advantage of:

Discount Lever

Longer term commitments often invite discounts. Consider pushing the contract length to three or five years to potentially obtain higher discount rates.

Commercial Item

Pay special attention to your "True-up" clauses. A true-up process allows Workday to align its license costs with your usage — usually performed annually.

We've only scratched the surface here. At Vendr, we have an extensive set of negotiation insights for Workday. To unlock all these insights and get customized strategies based on your organization's specific needs, sign up for a free forever Vendr account.

Remember, knowledge is power when it comes to securing the best SaaS deals. Equip yourself with the right insights to ensure your budgets go that extra mile.

Community Insights for Workday

Gathering insights from our community can be incredibly valuable when considering Workday for your organization. Here are the two most recent insights shared by fellow SaaS users:

1. "We were able to lock in a better rate by leveraging a multi-year contract upon renewal." - Community Insight was posted recently.
2. "Secured a discount of 10% per license citing budget constraints, economic hardships, and competitors like CultureAmp and Lattice." - Community Insight was posted 1 month ago.

While these insights offer a glimpse into the negotiation experiences with Workday, there's a wealth of knowledge waiting for you. By signing up for a free forever Vendr account, you can access the full spectrum of community insights. Currently, there are numerous insights available for Workday, and with a free account, you'll also gain additional insights such as the estimated time to implement Workday, what to expect for your renewal, and other discount levers that can be implemented if you're stuck during the negotiation process. Don't miss out on this opportunity to empower your procurement strategy with Vendr's community knowledge.

Workday Competitors

Ceridian

Ceridian is one of the main competitors of Workday in the HR and payroll management space. They offer a robust suite of functionalities highlighting human capital management capabilities with strong payroll and tax capabilities.

Darwinbox

Another competitor is Darwinbox. It's a cloud-based integrated HR technology product that takes care of all HR needs across the employee life cycle (from hire to retire). They are known for their feature-rich platform and affordable pricing structure.

NetSuite

Next is NetSuite. It’s a comprehensive business management suite, which has a portion dedicated to HR functions offering features like employee data management, payroll services and more. Their key difference is they serve a broader scope beyond HR & payroll including ERP, finance, CRM etc.

Check out our guide on NetSuite pricing for more info.

SAP

Lastly, SAP is another dominant player in this space and is known for its comprehensive suite of business applications. Among those, SAP SuccessFactors poses a direct competition to Workday focussing on a variety of HR functions, including payroll, talent, workforce planning and learning.

While each competitor has its own distinctive features, it's essential to assess your organization's requirements, understand key needs and choose a solution that best fits your unique scenario.

Workday Overview

Workday is a cutting-edge enterprise resource planning (ERP) software that helps businesses manage and streamline their finance, HR, and planning operations. With its cloud-based system, Workday provides real-time visibility into all critical data and operational trends. Notably, Workday's HR functionality stands out with strong capabilities in workforce planning, recruitment, talent management, and benefits administration.

Workday also offers robust features for financial management including accounting, financial planning, procurement, projects, revenue management, and analytics. It's an all-in-one solution suitable for a wide range of industries such as professional services, education, government, healthcare, hospitality, insurance, and manufacturing.

Compliance and Security

Workday takes its users' security and privacy very seriously. It adheres to top-tier security standards including GDPR and SOC2. These compliance certifications assure you that Workday manages and protects your data meticulously.

In terms of specific features, Workday offers Multi-Factor Authentication (MFA) and Single Sign-On (SSO). MFA enhances the security of user data by requiring multiple forms of verification to prove the users' identity. While SSO simplifies the user experience and enhances security by enabling users to access multiple applications using a single set of credentials.

In addition to GDPR and SOC2, Workday complies with international standards of Personally Identifiable Information (PII) and Data Protection Act (DPA) regulations. This ensures that sensitive employee and customer information is dealt with the utmost care.

Choosing Workday means choosing a state-of-the-art software that prioritizes your organization's security and data privacy.

Additional Resources

• Vendr's guide to the Best Workforce Management Software of 2024