The “Workday” is a software company that makes software for corporations to keep track of their employees and finances. It is a web-based software service that lies in clouds rather than a company owned computer. It provides cheaper solution to more expensive Oracle and SAP.

At the moment Workday has 310 customers including Sallie Mae and Chiquita. Even though company finance information is not available, industry experts estimates that it earns about $500 million a year. Dell CEO Michael Dell and Amazon.com CEO Jeff Bezos invested about $250 million in Workday. A company filing with the SEC for an initial public offering (IPO) indicates a company value of $2 billion and will go public in June 2012.

The Workday will be a competitor to Oracle and SAP who holds the monopoly in the enterprise software arena. In order to compete with Workday, Oracle recently introduced Oracle Cloud. The Workday says the big difference between them and Oracle and SAP is their customer service. Business software is getting more cloud oriented and making an effort to enter into mobile revolution.

Workday was founded by two former PeopleSoft (sold to Oracle) executives Dave Duffield and Aneel Bhusri who owns over 50 percent of the Workday.