You may be paying more than you should (or more than you actually need to).
In the past year, we have helped dozens of Workday customers assess, evaluate, and renew their existing Workday Subscription Agreement. And 100% of the time, we helped the customer save significant money from their renewal.
Don’t get us wrong, we love the value that Workday provides many of its customers, however, when we spend a bit more time “under the cover”, we continue to identify significant opportunities.
Many are renewing Workday contracts that were signed 2 to 4 years ago and the contract owner may have changed
Many Workday contracts included “bundled” modules that several clients didn’t even realize they owned
The FSE calculations may have significantly changed over the past few years, and now is a good time to recalibrate
Your “good deal” 2 to 4 years, may not be so "good" today
Recommendations for your upcoming renewal
1. Plan and Gather - Do not wait until 2 months before. Begin your planning around 6-9 months out
Review your existing contract (understand original FSE counts)
Review your original annual subscription amount
Confirm your latest headcount (FSE) numbers and estimate your projected subscription amount based on your FSE and Expansion Rate
Determine if your contract rate is going up (and if the budget has been approved for subscription increases)
2. Identify and Assess
Assess other HR Technologies that can be/could be replaced within your renewal contract to identify potential savings and or consolidation opportunities
Workday SKUs purchased but not deployed
Workday SKUs needed but not purchased
3. Prepare for Renewal
Confirm your internal budgets (for renewal)
Consider the duration of your renewal (you can often negotiate deeper discounts when you add SKUs and/or extend your subscription term.
Schedule discussions with your Workday rep: What incentives might they offer for additional SKU purchases (remember: Workday Account Executives get a larger commission on NEW SKUs they sell you. So play a bit of hardball if you can)
When the time is right, tell them what you can afford: If you have done your homework, there is a strong chance you can get more from your Workday contract
KSI has negotiated over $400,000,000 in Workday Contracts. We have a 100% success rate in helping customers get more from their Workday agreement and save more.
If you have a Workday renewal in the next 3-12 months, KSI can help you identify opportunity for material savings. Reach out to us to learn more.