Top 5 Mistakes to Avoid for Maximizing Workday Cost Savings and Successful Renewals

Navigating Workday contract negotiations can be complex, and making the wrong moves can significantly impact your long-term Workday cost savings and the success of your Workday renewal. To ensure you get the best possible outcome, be aware of these top 5 common mistakes:

1. Ignoring the Renewal Uplift Cap in Workday Negotiation:

One of the most critical aspects of Workday negotiation is securing a renewal uplift cap. Without this, you leave yourself vulnerable to significant price increases at the time of your Workday renewal, directly impacting your Workday cost savings over the life of the contract.

2. Misunderstanding Workday FSE Categories:

Many believe Workday's Full-Service Equivalent (FSE) categories are limited to Standard and Part Time. However, categories like Contingent and Labor Service are weighted differently and offer the same functionality while greatly decreasing your FSE count and, consequently, your Workday investment. A thorough understanding of these nuances is vital during Workday negotiation.

3. Decoupling Workday Software and Professional Services Agreements:

For maximum leverage during your initial Workday negotiation, always couple the execution of the Workday Software Agreement with the Workday or Partner Professional Services Agreement for Deployment. Executing these simultaneously encourages Workday to lean on partners to help close the deal, often resulting in reduced costs and improved Workday cost savings on the overall package.

4. Failing to Ask for Future Workday SKUs:

Don't wait until the last minute to request Workday SKUs you anticipate needing in the near future. It's often much easier and less costly for Workday to include these during the initial Workday negotiation, especially if you can commit to a signature date. This proactive approach can lead to significant Workday cost savings down the line.

5. Negotiating Workday Without Expert Guidance:

Going into a major Workday negotiation against professional sellers without expert advice is a significant mistake. A Workday consultant well-versed in Workday negotiation provides invaluable context and guidance. Given the magnitude of this purchase and its long-term impact on your business, having an expert in your corner is essential for maximizing Workday cost savings and achieving a favorable Workday renewal.

By avoiding these common pitfalls in your Workday negotiation, you can significantly improve your Workday cost savings and set yourself up for a successful Workday purchase or renewal.