Workday CEO Bhusri on why the company’s next big bet is finance

Workday (s wday) has cornered the HR market, cofounder and co-CEO Anheel Bhusri said at the GigaOM Structure conference Wednesday. Now it’s turning to other industries.

“If HR is a $10 billion market, financials is three times that size,” Bhusri told GigaOM’s Om Malik, adding, “financial data is really the key record data for whatever business you’re in — if you win HR and finance together, you’ve effectively won the ERP platform.” So Workday’s next steps are focusing on the HR and finance markets together, including “built-in analytics and a better consumer internet experience, building it with mobile and then taking it global.”

Bhusri also said that as enterprise-based cloud companies expand, they can learn a lot from consumer cloud companies: “Most any problem that you are going to face … someone in the consumer cloud has already faced it,” whether it’s scaling out or expanding on mobile. Meanwhile, consumer cloud companies could take a note on privacy and security challenges from enterprise companies.

Workday’s customers are increasingly accessing the platform through mobile, Bhusri noted. While he didn’t have an exact figure on hand, he estimated that the figure is now around 25 percent.

“It’sĀ been slower uptake, more because customers have been careful about rolling out these capabilities,” Bhusri said. “Many large customers are still BlackBerry shops. We haven’t really put a lot of effort into building for the BlackBerry platform. But as they shift to Android (s GOOG) and iPhone (s iOS), the attach rates are going up pretty dramatically.”

Correction: This story originally misquoted Bhasri on the size of the financials market compared to the size of the HR market. He said the financials market is three times the size of the HR market, not ten times the size.

Check out the rest of our Structure 2013 live coverage here, and a video embed of the session follows below:

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A transcription of the video follows on the next page