How Do They Make Money?

Workday is a SaaS company providing cloud-based solutions for workforce management. They target medium to large businesses and currently license to more than 50% of Fortune 500 companies. In addition to their SaaS offering, Workday also offers professional services and a partner marketplace called Workday Services Partners. In 2024 they announced a new AI Marketplace for selling AI partner solutions.

As of January 31st, 2024 revenue from their SaaS subscriptions accounted for 97% of revenue. This clearly makes their professional services offering only a small fraction of overall revenue.