Workday Services Bringing New HCM Era to Europe
New HCM Era to Europe :
Digitalization, pandemic effects nudge enterprises toward modern, SaaS-based workforce management that meets European requirements, ISG Provider Lens™ report says
According to a brand-new study released today by Information Services Group (ISG), a preeminent global technology research and advisory firm, European businesses are starting to adopt the Workday platform as they modernise their human capital management (HCM) systems as part of increasing digitalization.
According to the 2022 ISG Provider LensTM Workday Ecosystem study for Europe, Workday is expanding on the continent thanks to alliances with service providers and modifications to its product line to address local requirements for things like language, taxation, and policies. In the wake of the COVID-19 pandemic’s disruptions, Europe has shifted toward SaaS solutions like Workday.
“Workplace cultures are slowly evolving in Europe, and that gives companies a viable opportunity to digitize functions like HCM”, “We expect European demand for Workday to keep growing in the coming years.” Yadu Singh, EMEA lead for ISG Digital Platform and Solutions.
Most large organisations in Europe have long-standing traditional on-premises HCM platforms in place, and the report notes that because of deeply ingrained management policies, interconnected processes, and system data regulations that have developed over time, migrations to the cloud-based Workday suite can be challenging. To tackle the additional complexity, businesses are turning to service providers for advice, implementation, and managed services. Due to the strict data protection and privacy laws in the EU, data migration and conversion are frequently given top priority.
However, according to the survey, the use of consultancy, advising, and managed services for Workday is still in its infancy in Europe. ISG anticipates that when businesses accept adaptations from service providers—which few clients are presently requesting—Workday managed services will gain popularity in the upcoming years.
“Workday’s flexibility is the key to its value for all types and sizes of organizations”, “Service providers can hone its capabilities for specific requirements.” Jan Erik Aase, partner and global leader, ISG Provider Lens Research.
According to ISG, the region’s markets in the U.K., Germany, and the Nordics are the most advanced in adopting Workday and creating new use cases. Instead of migrating completely to the new platform, the majority of businesses in Europe are incrementally implementing Workday products to address specific needs before merging them with legacy systems. Most businesses are dealing with providers who have a local point of contact conversant with European rules and regulations for implementation.
The paper also looks at other trends that are having an impact on the Workday ecosystem in Europe, such as the rising demand for corporate agility, the expanding popularity of data analytics, and Workday’s emerging digital modernization plan.
In the 2022 ISG Provider LensTM Workday Ecosystem study for Europe, three quadrants—Consulting and Strategy Services, Implementation and Integration Services, and Managed Services—are used to assess the capabilities of 16 providers.
Accenture, Alight, Collaborative Solutions, and Deloitte are identified in the report as Leaders in each of the three quadrants. OneSource Virtual is listed as a Leader in two of the four quadrants, and Hexaware, Kainos, PwC, and Tietoevry are each listed as a Leader in one quadrant.
In addition, Tietoevry is recognised in two quadrants as a Rising Star, which is given to businesses with a “promising portfolio” and “high future potential” by ISG. In one quadrant, Hexaware is recognised as a Rising Star.
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