Workday Inc (NASDAQ:WDAY) Q3 2020 Earnings Conference Call - Final Transcript
Dec 03, 2019 • 04:30 pm ET
Thank you. At this time, we'll be conducting a question-and-answer session. [Operator Instructions] Your first question comes from the line of Mark Murphy with JPMorgan. Please proceed with your question.
Yes, thank you very much and congrats on the results. Aneel, I'm curious if you're seeing any material difference in the volume of HCM projects that are presenting themselves. If you were to look within the Fortune 500 or the Global 2000 today versus say 12 months or 18 months ago, whether there's a natural cycle there that kind of ebbs and flows over time. And then also, looking way out into the future, is there a timeframe where you think that that volume would converge in financials perhaps 5 years to 10 years down the road.
So, I think our growth in the pipeline and I'll ask Chano to weigh-in in a second. For HR, it's actually been fairly steady over the last, not just 12 months to 18 months, but last 3 years or 4 years. This was another strong quarter in terms of Fortune 500 wins and Fortune 2000 wins. As we get to -- as we begin to close in on over 50% of the Fortune 500 running Workday, we're on that path to get there. We do look at the broader Fortune 2000 marketplace for HR and we look at -- and we look at more of the international opportunities in front of us, still a lot of healthy growth in front of us.
For finance, and I'll just bucket everything else because in many ways the rest, finance planning, now procurement and Prism are really about the office of the CFO. That business continues to grow at a rate north of 50% as we see with 20% of the business and I think there is durable growth in that business for many years to come. I would hope in five years that that business is on par within five years, that business is on par or bigger than the HR business. It just takes time. And I would point you to the transition that Salesforce went through. They are six years older than us. One of our best partners, they went from being a sales -- a sales company to a sales and services company, to a sales and service and marketing company adding platform, now they've got analytics.
We're going through that same journey and growth rates kind of ebb and flow as the different pillars take off. So, very optimistic on what we continue to see as continuing growth in HR, but healthy growth rates in the office of the CFO. Anything you want to add Chano?
Mark, hello. To give you an idea, a data point, this Q3 we closed six Fortune 500 HCM financial customers, a year ago, it was four. To give you another data point, the pipeline on the Fortune 500 or large customers, more than Fortune 500, large HCM customers for the next 12 months is better or