Workday is acquiring Contractor Management Platform VNDLY. In doing so, Workday aims to expand its HRM software, offering more services for internal, external and contracted employees.
The 450 million euro acquisition of VNDLY doesn’t come out of the blue. VNDLY’s solutions have long integrated with Workday tools, particularly Workday Financial Management and Workday Human Capital Management.
The acquisition should provide companies with more streamlined solutions covering the entire workforce: internal employees, external employees, workers hired by time slot or period, and outsourced staff.
For said streamlining, a central system is being developed. This system will allow companies to manage the entire employee base. It also promises to facilitate better cooperation between the various departments that deal with employees, simplifying the whole workforce’s planning, execution, and analysis.
In addition, the further integration of VNDLY’s technology into Workday should enable companies to gain greater insight into their employee base, including costs. For example, it will show spending on projects, benefits, salary and hiring.
The integrated platform should also offer companies opportunities to handle administrative and HR processes. Think of finding suitable candidates, onboarding new employees, sending invoices and payrolling.
Complying with legislation and regulations
Furthermore, VNDLY’s technology promises to help with compliance with labour laws and regulations, offering tools for managing various legal requirements for working conditions. This is especially useful when companies have an extensive employee base in multiple countries, and therefore deal with multiple rulesets and regulations. In addition, the technology promises to ensure that company HR staff can have secure and privacy-conscious access to employee data anywhere, anytime.
Workday also announced that, as part of the acquisition, it will continue to invest in VNDLY’s ecosystem of partners for further solution integrations. It will also continue to support VNDLY’s existing MSP network.