Formula 1, the pinnacle of motorsport, has announced an expanded strategic partnership with Workday, a leading provider of cloud-based enterprise software solutions. The collaboration between the two companies is aimed at enhancing the digital capabilities of Formula 1 and optimizing the way it operates both on and off the track.

The partnership between Formula 1 and Workday first began in 2019 with the implementation of Workday’s Human Capital Management (HCM) and Financial Management solutions. Since then, Formula 1 has been able to streamline its business processes, improve operational efficiency, and make data-driven decisions to drive growth and innovation.

With the expanded partnership, Formula 1 will now be utilizing Workday’s Planning solution to help better manage its complex business operations. This will allow Formula 1 to forecast, analyze, and optimize its financial performance, resources, and investments to support its long-term growth strategy.

Speaking about the expanded partnership, Chase Carey, Chairman and CEO of Formula 1, said, “We are delighted to extend our partnership with Workday, a company that shares our passion for innovation and continuous improvement. By leveraging Workday’s industry-leading solutions, we will be able to optimize our business operations and drive even greater value for our stakeholders.”

In addition to Workday’s Planning solution, Formula 1 will also be leveraging Workday’s Talent Optimization and Adaptive Insights solutions to further enhance its people and financial management capabilities. By using these tools, Formula 1 will be able to better align its workforce with its strategic goals, as well as forecast and plan for future growth and success.

The expanded partnership between Formula 1 and Workday comes at a time when the world of motorsport is undergoing significant digital transformation. With the increasing importance of data analytics, artificial intelligence, and cloud technologies in driving performance on and off the track, this collaboration will enable Formula 1 to stay at the forefront of the industry and continue to deliver world-class racing experiences to fans around the world.

Overall, the expanded partnership between Formula 1 and Workday signifies a commitment to innovation, collaboration, and excellence in the world of motorsport. By leveraging Workday’s cutting-edge solutions, Formula 1 is poised to achieve even greater success both on and off the track, solidifying its position as a global leader in the world of motorsport.