Workday CEO warns of 'slippage of some large deals'
Speaking during the company's Q3 earnings conference call earlier, Workday CEO Aneel Bhusri stated, "During Q3, we saw no real change in the overall competitive dynamics in our key markets and our win rates against major competitors remained the same... However, one recent development worth mentioning is slippage of some large deals early in Q4. Specifically, we have seen a few multinational prospects delay their projects. Some attribute the delay to global uncertainties, such as Brexit, the U.S. presidential election and pending elections in other GA countries. We suspect and hope these are isolated events that will be short-lived, but felt it was noteworthy enough to mention on this call. Other than that, our pipeline for both HCM and financial product lines is healthy and growing as we head into the remainder of Q4 and then onto FY18." Adding to those remarks, CFO Robynne Sisco said, "During November, we saw expected close dates slip on some large contracts. These delays have impacted our subscription revenue estimates for Q4 and FY17."