How much does Workday cost?
Median buyer pays
$47,825
Based on data from 288 purchases, with buyers saving 15% on average.per year
Median: $47,825
$23,803$422,403
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About Workday
Workday Overview
Workday, Inc. is an on‑demand financial management and human capital management software vendor.
Workday's 3 Products
Finance and accounting teams can unify planning, close, and consolidation processes to improve efficiency, accuracy, and compliance by automating consolidation tasks, standardizing workflows, and delivering real-time financial reporting. Key features include automated eliminations, currency translations, period-close management, intercompany consolidation, continuous anomaly detection, and always-on audit trails.
Facilitating rapid, collaborative financial planning, this solution enables organizations to streamline budgeting, forecasting, and scenario modeling to respond efficiently to change. Automated data integration and real-time analytics improve forecasting accuracy and empower teams with up-to-date insights for informed decision-making across departments.
Addressing the need for unified workforce management, this solution enables organizations to efficiently handle HR functions such as payroll, employee data, recruiting, talent management, and benefits through a single cloud-based platform. Key capabilities include configurable global processes, rich analytics, and integrated administration, supporting improved decision-making and enhanced organizational effectiveness.
Compare prices for similar companies
| Supplier | Workday | ADP |
|---|---|---|
| Median Contract Value | $47,825 | $51,372 |
| Avg Savings | 14.61% | 22.07% |
Negotiation insights
Discount levers
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What you can give to move the needle on pricing
RenewalsNew purchases
Low chances of successMedium chances of successHigh chances of successVendr community insights for Workday
Company with 201-1000 employeesThis year
"Workday has introduced AI-driven agents to enhance its workflow areas, which may influence its pricing and value proposition in negotiations. "Company with 201-1000 employeesThis year
"We did our best to argue against uplift from Workday on our Adaptive Insights renewal. Unfortunately, uplift rates are included in each order signed order form, so we were on the hook for uplift from our previous order form."Company with 201-1000 employeesThis year
"Workday uplift is comprised of "Innovation Index" plus CPI. We had an innovation of 6% and argued for a reduction to 1%. Workday refused to reduce the Innovation Index. "Company with 201-1000 employeesThis year
"Look into considering Adaptive Insights as a planning add-on to be included at no cost or heavily discounted during HCM or ERP evaluations"Company with 201-1000 employeesThis year
"Rippling and Hibob are surfacing as competitors in Workday's HCM market -- utilize these competitors as leverage in renewals and new purchases"Company with 201-1000 employeesThis year
"Communicating with sales leadership at Workday was crucial to getting the discount that we needed upon renewal."Company with 201-1000 employeesThis year
"We are growing rapidly, so Workday approached our team about an early renewal that would extend service for another three years. We were open to the idea, but found that we had to negotiate with them to lower their over-ambitious projections for our headcount. "Company with 201-1000 employeesThis year
"Workday will loop their Adaptive insights planning solution into the overall proposal -- request Workday to break this out separately to help out with benchmarking"Company with 201-1000 employeesThis year
"During our most recent renewal, Workday collaborated with us to consolidate multiple tenant agreements into our standard, larger agreement. This strategic move resulted in significant cost savings and streamlined contract management. The finance team viewed this consolidation positively, recognizing both the financial benefits and the strong partnership demonstrated by the Workday team."Company with 201-1000 employeesThis year
"At renewal, Workday introduced its New Innovation and Success Plans. After thorough evaluation, we determined that these offerings would be beneficial to our organization. However, the high cost of adding them provided an opportunity to negotiate more aggressively, securing better rates for both the new offerings and additional FSEs included in the renewal."Company with 201-1000 employeesThis year
"To incentivize a deal closure before the end of the month, Workday included an additional bundle of FSEs at no cost. This was a major win for our team, particularly as we anticipate significant growth. The finance team was especially pleased with this added value."Company with 201-1000 employeesThis year
"Our ability to substantially increase our FSE count played a key role in driving negotiations. Workday recognized the potential for continued growth, which strengthened our position and led to greater cost savings."Company with 201-1000 employeesThis year
"At renewal with Workday, we secured significantly more advantageous pricing by committing to a five-year agreement. Given the nature of the software, a long-term commitment provided better pricing stability and eliminated the need for frequent renegotiations."Company with 201-1000 employeesThis year
"Workday will provide price uplift cap for 3 years following the renewal for 1% uplift + CPI. On new purchases, always ensure this is given"Company with 201-1000 employeesThis year
"Due to the length of time implementation and change management takes with this supplier, it's important to request quotes and leverage competition as early as 9-12 months in advance of the renewal."Company with 201-1000 employeesThis year
"We were approved on semi annual payment terms. "Company with 201-1000 employeesThis year
"Based on our current agreement with Workday, we believe the rate is competitive and aligned with market standards. As of now, Workday meets our needs effectively, and we see no reason to explore alternate solutions."Company with 201-1000 employeesThis year
"Workday was willing to offer quarterly payment terms when pushed. "Company with 201-1000 employeesThis year
"Workday offered a 5% renewal cap when we pushed back on their CPI based uplift."Company with 201-1000 employeesThis year
"We were unsastified with our renewal offer, as it included 6% year over year cost increases. After significant pressure, Workday chose not to reduce the uplift, but did reduce our FSE count, which brought the TCV down. "Company with 201-1000 employeesThis year
"Will apply a standard 5% renewal "innovation index" uplift for all renewal terms"Company with 201-1000 employeesThis year
"For instances that are adding financials onto an existing HR footprint, push for higher discounting (10-15% above provided rates) and leverage the existing footprint in tandem with competition "Company with 201-1000 employeesThis year
"If attempting to leverage competition or to properly set up for seriously considering alternatives, it's best to start the renewal process (gather renewal quote, competitor intel, etc) at least 9-10 months in advance. This will indicate true desire to make a change as replacing these types of systems can be a multi-month endeavor. "Company with 201-1000 employeesThis year
"Workday notoriously does not itemize the costs on their contracts. This is most likely to confuse and/or overcharge for some tooling and services."Company with 201-1000 employeesThis year
"Workday will add a renewal uplift cap for renewals following the current agreement term -- if there is a renewal agreement for 3 years, workday can place an uplift cap on the 4th year"Company with 201-1000 employeesThis year
"During a descoping renewal, we emphasized the need to only be paying for exact business needs and suggested going to a competitor in the next renewal cycle in order to maintain a competitive FSE rate on the 3-year renewal
"Company with 201-1000 employeesThis year
"For our 3 year renewal, with growth associated on our FSE each year - Workday were willing to offer workday success plan for no additional charge ($120k value)"Company with 201-1000 employeesThis year
"Standing firm on our renewal cap, we were able to reduce this from CPI + 5% to CPI + 2% on future renewals on our 36 month renewal."Company with 201-1000 employeesThis year
"Workday can lower their annual "innovation index" down to 1% + CPI"Company with 201-1000 employeesThis year
"In renewal scenarios, leveraging competition, specifically NetSuite or Accumatica, can get reps to escalate internally to seek higher discounting"Company with 201-1000 employeesThis year
"The FSE count in Workday refers to the total number of full-service equivalents, which includes different worker types such as full-time, part-time, and contingent workers. This metric is crucial for determining the cost of your Workday subscription. The FSE count can be influenced by various factors, including the size of your organization and the specific SKUs you are using, such as HCM (Human Capital Management) and Core Financials"Company with 201-1000 employeesA while ago
"Workday is starting to go after smaller orgs, despite recent comments from their CEO about "not caring" about smaller companies for their business"Company with 201-1000 employeesA while ago
"Workday reps are incentivized by maintaining overall ARR, and it doesn't necessarily matter what products are renewed/replaced, as long as the ARR is matched. When ARR is matched, this also opens the door to being able to have more leverage in negotiating free add-ons, higher discounts, etc."Company with 201-1000 employeesA while ago
"Workday will reference their Innovation Index + CPI during renewals to provide reasoning for renewal uplift percentages. Looking back to the current agreement's payment schedule can help add a point of leverage to fact check the amount that is being used as the principle for the uplift percentage applied."Company with 201-1000 employeesA while ago
"Being such a large organization Workday's rep-by-rep service quality varies greatly, with some reps being much more difficult to work with than others. Seek out managers of sales reps to create more beneficial account conversation"Company with 201-1000 employeesA while ago
"Workday's CEO made a comment on January 2024 about not caring about accounts under 500 employees, as their focus is on larger accounts (1500 - 3000 employees)"Company with 201-1000 employeesA while ago
"We were offered a competitive discount for any net new tools added, but as they were not a necessity we could not accommodate them in this year's budget. "Company with 201-1000 employeesA while ago
"We pushed the rep to provide per FSE pricing on the SKUs we were going to purchase they provided the information on a spreadsheet. This allowed us to get a much clearer picture of how much we'd be paying for specific SKUs."Company with 201-1000 employeesA while ago
"On renewals that are reducing/decreasing their scope of work (which is becoming more common in light of the macroeconomic environment), we had success in maintaining the existing rates by leveraging multi-year agreements that will potentially have growth worked into the years beyond the initial 12 months. This was agreed upon by Workday by leveraging budgetary constraints and good faith in the partnership.
This can be proposed by sharing estimates of employee count growth over the years of the contract."Company with 201-1000 employeesA while ago
"After aligning on our comps related to scope needs and background of the partnership, we pushed back on the proposal to mitigate uplift as much as possible by leveraging executive alignment, budget constraints, and competition as levers. We also brought legal into the negotiation discussions to surface unclear terminology around the renewal uplift which helped in reaching middle ground on pricing concessions."Company with 201-1000 employeesA while ago
"Workday will bundle all pricing so it's difficult to work out pricing per SKU. If requested, the rep can potentially provide more information. We requested line by line pricing as different parts of the contract had different budget approvers internally and they would need to see the pricing for their relevant part of the contract. "Company with 201-1000 employeesA while ago
"We leveraged growth, a 4-year renewal term, and budget constraints through making reference to Workday's renewal structure in the existing contract to push back on a renewal uplift and improve the overall discount."Company with 201-1000 employeesA while ago
"After significant pushback on budget constraints, and the cost to switch to Workday, we were able to obtain a 27% discount on a 3 year term for a new purchase."Company with 201-1000 employeesA while ago
"We were able to lock in a better rate by leveraging a multi-year contract upon renewal."Company with 201-1000 employeesA while ago
"We were able to lock in a better rate by leveraging a multi-year contract upon renewal. "Company with 201-1000 employeesA while ago
"Secured a discount citing budget , economic hardships, and CultureAmp and Lattice as competitors."Company with 201-1000 employeesA while ago
"Workday will offer longer terms such as 6 years. In this case, they signed on a 6 year agreement, with quarterly billing. "Company with 201-1000 employeesA while ago
"Adaptive Insights will charge to fill out any security questionnaires. Additionally, only account admins can download the security reports from the portal."Company with 201-1000 employeesA while ago
"We were able to bring down the uplift cost upon renewal by leveraging budget constraints and the strong partnership "Company with 201-1000 employeesA while ago
"We were able to get $10,000 off our new purchase through voicing budget constraints. "Company with 201-1000 employeesA while ago
"We were able to save 23% for our renewal by leveraging a 36-month agreement and budget constraints."Company with 1-200 employeesA while ago
"They started with a 7% uplift due to the increase in inflation, but with minimal pushback, we were able to lower it back down to the 5% we had seen in the previous year."Company with 1-200 employeesA while ago
"We were able to remove a 7% uplift by agreeing to a 3 year contract with them."Company with 201-1000 employeesA while ago
"We were able to get a free user as part of our renewal negotiations."Company with 201-1000 employeesA while ago
"We were able to keep the base price flat for our 3 year renewal contract, and built in reduced pricing as our seat count grows."Company with 1-200 employeesA while ago
"Since we were willing to push our purchase into the next year, they conceded and offered a ~18% discount on our contract. "About Vendr
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