Microsoft and Workday announce global strategic partnership

CHICAGO – WORKDAY RISING – September 27, 2016 – Microsoft Corp. (Nasdaq: MSFT) and Workday (NYSE: WDAY) today announced a global, strategic partnership that will expand the business solutions joint customers can use to continually optimize the way work gets done. Through this partnership, the companies unveiled plans to deliver integrations that mirror where and how people want to work across Microsoft Office 365 and Workday’s finance and HR applications, which will enable customers to simplify day-to-day tasks, foster collaboration, and increase productivity.

The announcement was made by Workday Co-founder and CEO Aneel Bhusri at Workday Rising, complemented by a video appearance by Microsoft CEO Satya Nadella.

“Connecting the productivity tools in Office 365 with Workday’s finance and HR applications will enable customers globally to uncover new ways to produce great work that ultimately drives their businesses forward,” said Aneel Bhusri, co-founder and CEO, Workday. “Our partnership with Microsoft is yet another example of our commitment to empowering customers to increase productivity and drive performance with Workday – all in an intuitive experience that mirrors how they prefer to work.”

“Our mission is to empower every person and every organization on the planet, and key to this is forging strategic partnerships with companies including Workday,” said Satya Nadella, CEO, Microsoft. “Blending the power of Workday’s cloud-based finance and HR applications with the cloud productivity of Office 365 will enable our customers to simplify their businesses processes, enhance collaboration, and infuse more intelligence into their organizations.”

New Integrations Empower Workday Customers to Increase Productivity and Drive Performance

Solutions from Microsoft and Workday are designed to work the way people want to work. Because of that, customers already spend a significant part of their day working between Microsoft Office 365 and Workday applications. These new integrations will further streamline this work experience, enabling joint customers to:

  • Simplify collaboration and better adapt to continuous organizational changes: Connecting Office 365 Groups with Workday will enable joint customers to simplify collaboration and transform how work gets done across organizations, teams, and projects. Leveraging the Microsoft Graph API, this integration enables organizational changes within Workday to be automatically reflected in Office 365 Groups. For example, should an employee move to another team, the Office 365 Groups they belong to will automatically reflect this change across email, calendars, and shared documents, ensuring the right people are involved in collaboration at all times. This will ultimately facilitate and encourage even more productive working relationships, and improve the effectiveness of teams and reorganization efforts.
  • Simplify day-to-day tasks to increase productivity: Enabled by Microsoft Flow and Workday’s dynamic business process framework, joint customers will be able to eliminate mundane tasks and manual processes by automating workflow across any third-party applications in the Microsoft Flow ecosystem and Workday. For example, a manager can set up an automated workflow for a new employee in Workday, which adds the new hire to specific groups on third-party messaging and chat services. From there, an automated welcome message will introduce the new hire to the group. 
  • Maximize time and resources: Connecting Workday Human Capital Management (HCM) with the Microsoft Graph will provide people and teams with rich, actionable insights into the company’s communication and collaboration trends. Using Microsoft MyAnalytics (formerly Delve Analytics), employees will be able to better understand how, when, and with whom they are spending their time as well as ways to make the most of it. For example, employees could determine the average time spent in meetings, response times to their emails, their most frequent collaboration partners or how many emails they have exchanged with their managers and peers.

Delivery of the Office 365 and Workday integrations will begin in the second quarter of 2017. The two companies plan to continually work together to deliver additional, deeper connections between their solutions in order to help companies around the world transform their businesses.

About Microsoft

Microsoft (Nasdaq “MSFT” @Microsoft) is the leading platform and productivity company for the mobile-first, cloud-first world, and its mission is to empower every person and every organization on the planet to achieve more.

About Workday

Workday is a leading provider of enterprise cloud applications for finance and human resources. Founded in 2005, Workday delivers financial management, human capital management, and analytics applications designed for the world’s largest companies, educational institutions, and government agencies. More than 1,000 organizations, ranging from medium-sized businesses to Fortune 50 enterprises, have selected Workday.

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Microsoft and Bank of America Merrill Lynch collaborate to transform trade finance transacting with Azure Blockchain as a Service

REDMOND, Wash., and NEW YORK — Sept. 27, 2016 — Today at Sibos, an annual conference organized by SWIFT for the financial industry, Microsoft Corp. and Bank of America Merrill Lynch announced a collaboration on blockchain technology to fuel transformation of trade finance transacting.

bank_of_america_merrill_lynch_rgb_300As part of this collaboration, the two companies will build and test technology, create frameworks, and establish best practices for blockchain-powered exchanges between businesses and their customers and banks. Microsoft Treasury experts will serve as advisors and initial test clients, establishing the first Microsoft Azure-powered blockchain transaction between a major corporate treasury and a financial institution.

msft_logo_rgb_c-gray“By working with Bank of America Merrill Lynch on cloud-based blockchain technology, we aim to increase efficiency and reduce risk in our own treasury operations,” said Amy Hood, executive vice president and chief financial officer at Microsoft. “Businesses across the globe — including Microsoft — are undergoing digital transformation to grow, compete and be more agile, and we see significant potential for blockchain to drive this transformation.”

Currently, underlying trade finance processes are highly manual, time-consuming and costly. With blockchain, processes can be digitized and automated, transaction settlement times shortened, and business logic applied to related data, creating a host of potential benefits for businesses and financial institutions including more predictable working capital, reduced counterparty risk, improved operational efficiency, and enhanced audit transparency, among other benefits.

“The potential benefits of blockchain will help drive meaningful supply-chain efficiencies to the clients of both Microsoft and the bank. This project is another example of our continued commitment to introduce financial innovations for the betterment of global commerce,” said Ather Williams, head of Global Transaction Services at Bank of America Merrill Lynch.

“We are excited to be working with Microsoft on this groundbreaking blockchain proof of concept that has the potential to help redefine, digitize and improve how trade finance instruments are executed today,” said Percy Batliwalla, head of Global Trade and Supply Chain Finance at Bank of America Merrill Lynch.

Microsoft Azure Blockchain as a Service was first introduced in November 2015. The global scale, hybrid cloud capabilities, extensive compliance certification portfolio, and enterprise-proven security of Azure provide businesses with confidence and choice, especially in highly regulated industries such as financial services, healthcare and government. More than 80 percent of the world’s largest banks are Azure customers. Furthermore, more than 75 percent of the global systemically important financial institutions are using Azure, representing the highest bar for legal, compliance, security and acquisitions teams.

Development and testing of the initial application, built to optimize the standby letter of credit process, is currently in progress. The Microsoft and Bank of America Merrill Lynch teams will demonstrate the technology at Sibos in Geneva, Switzerland. Following the initial development and testing, the teams will work to refine the technology and evaluate applications to include more complex use cases and additional financial instruments.

More information on Microsoft Azure Blockchain as a Service can be found at www.microsoft.com/blockchain.

About Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,700 retail financial centers, approximately 16,000 ATMs, and award-winning online banking with approximately 33 million active accounts and more than 20 million mobile active users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp., all of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.

About Microsoft

Microsoft (Nasdaq “MSFT” @microsoft) is the leading platform and productivity company for the mobile-first, cloud-first world, and its mission is to empower every person and every organization on the planet to achieve more.

Note to editors: For more information, news and perspectives from Microsoft, please visit the Microsoft News Center at http://news.microsoft.com. Web links, telephone numbers and titles were correct at time of publication, but may have changed. For additional assistance, journalists and analysts may contact Microsoft’s Rapid Response Team or other appropriate contacts listed at http://news.microsoft.com/microsoft-public-relations-contacts.

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