Initial Public Offering Announced For Workday, a Rival of Oracle

HR and payroll software company, Workday Inc., filed its S-1 form declaring its intention to go public and to raise $400 million in an IPO.

In the filing, Workday describes itself as follows:

“Workday is a leading provider of enterprise cloud-based applications for human capital management (HCM), payroll, financial management, time tracking, procurement, and employee expense management. We achieved this leadership position through our innovative and adaptable technology, focus on the consumer Internet experience, and cloud delivery model. Further, we believe we are the only company to provide this complete set of unified cloud-based applications...