Workday, a provider of enterprise cloud applications for finance and human resources, has signed a definitive agreement to acquire Platfora, a provider of operational analytics and data discovery tools that enable companies to visually interact with and analyze large volumes of data.
The purchase was announced in a Workday blog post by Mike Frandsen, executive vice president, products, support, and delivery.
Terms of the deal, which is expected to close in Workday’s third fiscal quarter, were not disclosed.
Based in San Mateo, Calif., Platfora, a provider of operational analytics and data discovery tools, was founded in 2011.
With the Platfora team and its technology unified within Workday, Frandsen said, Workday will enrich the analytics in Workday Financial Management and Workday Human Capital Management.
The enhancement of analytics, especially in areas such as managerial reporting and operational analytics where insights are gathered by collecting and connecting multiple data sources (Workday and non-Workday data) to make business decisions is particularly important. Customers, said Frandsen in his blog, want to drill down to transaction-level data and analyze it across multiple dimensions for calculating profitability, ROI, and other operational metrics.
The purchase underscores Workday’s focus on acquiring companies that bring a team of employees who understand the value of collecting and connecting multiple forms of data to solve business problems, said Frandsen, noting that Platfora has created tools tailored for data analysts and business users who work at some of the world’s largest companies to help them uncover insights from transactional, operational, customer, and machine data.
For more information, go to www.workday.com and www.platfora.com.