Workday announced that it will acquire Zimit, and although the terms of the deal have not been disclosed, it is expected to close in the quarter ending October 31.

Zimit is a cloud-based CPQ (configure price quote) solution for the business services industry, and Workday is an on-demand cloud-based financial management and human capital management software vendor.

The acquisition will enable Workday to offer quote-to-cash process automation for service-oriented companies in the media, communications and business services sectors.

The combination will help organizations increase visibility across the sales cycle and help Workday expand its product portfolio.

In addition, the acquisition of Zimit will help Workday to better target services industries with its financial, human resources, and planning applications, as Zimit already has Workday Approved Integration status.

Also, the fact that it is also integrated with Salesforce, FinancialForce, and other CRM and ERP applications seems to be an added benefit for the company.

For more information, read the original story in ZDNet.