Workday, Inc. (WDAY) and Bill.com Holdings, Inc. (BILL) are two prominent companies that offer enterprise cloud solutions worldwide. WDAY develops enterprise cloud applications that help customers manage critical business functions and optimize their financial and human resources for the finance, healthcare, manufacturing, education, and technology industries. In comparison, BILL provides cloud-based software that simplifies, digitizes, and automates back-office financial operations for small and midsize businesses. The company offers bill workflow, payment processing, business document filing services, electronic invoicing, and mobile application management tools.
Apart from the ongoing digitalization across industries, the readoption of remote working amid the resurgence of COVID-19 cases is driving the demand for cloud computing solutions. Moreover, many businesses are increasingly spending on cloud migration to make their operations efficient and stable. The global cloud computing market is expected to grow at a 16.3% CAGR to reach $947.30 billion by 2026. So, both WDAY and BILL should benefit.
