Workday遭遇成長的危險

????挑戰甲骨文這樣的公司并不是容易的事。它意味著要投資于云基礎設施和軟件研發，也意味著銷售人員要能說服目標公司接受按需服務軟件。同時，為了贏得合同，還要和大型企業在價格上展開競爭。弱勢公司處境會很艱難。不過，如果投資者認為現有的大型企業、而不是這些弱勢公司理所當然地應該實現較高的利潤率，那將會是一個有利因素。

????目前，這個因素對Workday有利。然而，不斷贏得新用戶已經讓它的股價達到了危險水平。但這也有好處，那就是甲骨文不太可能在這樣的高價位對Workday發起惡意收購。（財富中文網）

????譯者：Charlie

????Taking on a company like Oracle isn't easy. It means investing in cloud infrastructure, software R&D, and a sales staff to persuade companies to embrace on-demand software. It can also mean competing against giants on price to win deals. Being an underdog can be tough, but it helps when investors are expecting high profit margins from older giants but not from you.

????For now, that's working in Workday's favor. But the success the company is seeing in winning new customers is leaving its price at a precarious level. The high valuation of Workday's stock, however, has one more benefit: Up here, Oracle is unlikely to be staging any hostile takeovers of the company.