Data-as-a-Service (DaaS) Benchmarking provides powerful metrics across the Human Capital Management, Financial Management, Recruiting, Absence, Compensation, and Workday Usage areas that enable you to compare your company’s performance with other Workday customers. So, you can step it up and take advantage of it.
How does it work?
Workday has a Data-as-a-Service (DaaS) platform in which it stores data from all the clients who agree to deploy Workday Benchmarking in their tenants. All the data from the customers automatically updates twice a week. When you run a report based on Benchmarking Data Sources, which can be either a custom report or a standard report, DaaS microservices, which are based in AWS technology, calculates all the parameters and metrics to show the results. All the information used to compare your data is 100% secured by Workday and comply with privacy regulations.
Benchmark functionality examples
Through Benchmarking functionality you can compare your company performance with other competing companies in the same sector, in scenarios such as:
- Absenteeism rate
- Gender diversity in work teams
- Financial ratios
- How many candidates pass the selection phase
- Many others…
Which of these best describes your company’s usage of external data?
-We do not currently use external datasets, but would like to begin to.
-We currently use at least one external dataset, but are not able to fully derive their value.
-We currently use at least one external dataset, and we are comfortable sourcing and manipulating these datasets to derive value.
DaaS Benchmarking is a powerful tool when it comes to improving HCM.
The BNB team has all the expertise and certifications required to help you whether you want to start working with Data-as-a-Service or you wish to improve its usage through our improvement and maintenance services.