Exact Online vs. Workday Financial Management

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Exact Online
Score 8.0 out of 10
N/A
Exact Online is a configurable, cloud-based multi-purpose Enterprise Resource Planning (ERP) Suite from global company Exact Software, headquartered in the Netherlands.N/A
Workday Financial Management
Score 7.5 out of 10
N/A
Workday Financial Management is built on a global foundation that provides organizations with the core financial management capabilities expected from a modern cloud solution. It goes well beyond just managing financial processes to achieve greater insight, improve financial consolidation and reduce time to close, instill internal control and auditability, and achieve consistency across global operations. By using an in-memory architecture and object data model,…N/A
Pricing
Exact OnlineWorkday Financial Management
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
Exact OnlineWorkday Financial Management
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Community Pulse
Exact OnlineWorkday Financial Management
Top Pros
Top Cons
Features
Exact OnlineWorkday Financial Management
Customization
Comparison of Customization features of Product A and Product B
Exact Online
7.5
1 Ratings
4% above category average
Workday Financial Management
8.8
5 Ratings
20% above category average
API for custom integration8.01 Ratings8.74 Ratings
Plug-ins7.01 Ratings9.04 Ratings
Security
Comparison of Security features of Product A and Product B
Exact Online
8.0
1 Ratings
1% below category average
Workday Financial Management
9.2
6 Ratings
13% above category average
Single sign-on capability8.01 Ratings9.56 Ratings
Role-based user permissions8.01 Ratings9.05 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
Exact Online
4.7
1 Ratings
38% below category average
Workday Financial Management
8.9
7 Ratings
25% above category average
Dashboards4.01 Ratings9.07 Ratings
Standard reports6.01 Ratings8.87 Ratings
Custom reports4.01 Ratings9.07 Ratings
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
Exact Online
6.9
1 Ratings
10% below category average
Workday Financial Management
7.9
7 Ratings
4% above category average
Accounts payable7.01 Ratings7.04 Ratings
Accounts receivable7.01 Ratings7.04 Ratings
Global Financial Support5.01 Ratings8.35 Ratings
Primary and Secondary Ledgers5.01 Ratings8.35 Ratings
Journals and Reconciliations6.01 Ratings6.54 Ratings
Configurable Accounting7.01 Ratings9.06 Ratings
Standardized Processes8.01 Ratings8.56 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
Exact Online
7.0
1 Ratings
12% below category average
Workday Financial Management
9.0
1 Ratings
13% above category average
Inventory tracking7.01 Ratings9.01 Ratings
Automatic reordering00 Ratings9.01 Ratings
Location management00 Ratings9.01 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
Exact Online
6.7
1 Ratings
15% below category average
Workday Financial Management
8.5
3 Ratings
9% above category average
Pricing7.01 Ratings00 Ratings
Order entry7.01 Ratings00 Ratings
Cost of goods sold6.01 Ratings00 Ratings
Credit card processing00 Ratings8.53 Ratings
Subledger and Financial Process
Comparison of Subledger and Financial Process features of Product A and Product B
Exact Online
6.7
1 Ratings
10% below category average
Workday Financial Management
-
Ratings
Billing Management7.01 Ratings00 Ratings
Cash and Asset Management7.01 Ratings00 Ratings
Period Close7.01 Ratings00 Ratings
Project Financial Management
Comparison of Project Financial Management features of Product A and Product B
Exact Online
6.7
1 Ratings
13% below category average
Workday Financial Management
-
Ratings
Budgeting and Forecasting8.01 Ratings00 Ratings
Project Costing8.01 Ratings00 Ratings
Cost Capture7.01 Ratings00 Ratings
Capital Project Management7.01 Ratings00 Ratings
Customer Contract Compliance6.01 Ratings00 Ratings
Project Revenue Recognition7.01 Ratings00 Ratings
Payroll Management
Comparison of Payroll Management features of Product A and Product B
Exact Online
-
Ratings
Workday Financial Management
8.1
4 Ratings
10% above category average
Pay calculation00 Ratings8.04 Ratings
Benefit plan administration00 Ratings8.04 Ratings
Direct deposit files00 Ratings8.54 Ratings
Best Alternatives
Exact OnlineWorkday Financial Management
Small Businesses
Acumatica
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Score 8.1 out of 10
Acumatica
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Score 8.1 out of 10
Medium-sized Companies
Infor VISUAL
Infor VISUAL
Score 8.0 out of 10
Infor VISUAL
Infor VISUAL
Score 8.0 out of 10
Enterprises
SAP Business ByDesign
SAP Business ByDesign
Score 7.7 out of 10
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SAP Business ByDesign
Score 7.7 out of 10
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User Ratings
Exact OnlineWorkday Financial Management
Likelihood to Recommend
4.0
(1 ratings)
8.3
(7 ratings)
Usability
-
(0 ratings)
7.8
(4 ratings)
Support Rating
-
(0 ratings)
8.5
(4 ratings)
User Testimonials
Exact OnlineWorkday Financial Management
Likelihood to Recommend
Exact Software
If you are a big company and have an active accountant then this system can be for you, it has many options but you need dedication. But the price starts from €39 and then you are not there...Most of the time you need other options to make it complete. Like ERP functions + €199~ want to book hours? +€129. And this is all per month... It goes up so fast that it's not interesting for small companies. When there are better options on the market that are even free...
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Workday
Financial reporting is sometimes tricky in our field because
some oil and gas fields are depleted, and the standard methods of activating
abandoned oil wells will have high-cost variability. Therefore, in this scenario, Workday Financial Management made internal financial reporting statements pretty seamless, where initial
bid and field cost can be incorporated very easily in an asset-wise manner.
Also, cloud-based sharing was never a problem, and our lease operators never had
a problem understanding which reports belong to which asset.
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Pros
Exact Software
  • Complete pack with many options, use it as CRM, ERP or simply for your bookings.
  • Many connections with external programs, webshops, etc.
  • Automatic backups.
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Workday
  • Workday is very organized and user friendly. I haven't heard this from any of my co workers that they faced a hard time navigating around or getting technical support.
  • The platform offers variety of options for the company to offer to their employees. This includes easy access to their time off balance, hours they have worked, and accessing pay stubs any time.
  • One of the biggest thing I notice on a lot of technical platforms is that they don't notify their users of any updates they may be making on their website but workday does a great job of notifying its user way ahead of time of any updates they may be doing
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Cons
Exact Software
  • Support... It's bad, and when you want to stop or step back it's near impossible.
  • Price, they tend to increase it without warning, and with all the extras it goes up fast.
  • If you wanna spend all your time in accounting buy Exact... It can be complex and many handlings needs to be done.
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Workday
  • We were surprised by the lack of user guides and supporting information for day-to-day users. Granted, we could find this, but our users like guides.
  • The system could improve with contact help and chat functions if you need the answers quickly. We figured this would all have been built in.
  • Quite surprised by the lack of treasury management functionality. SAP and Oracle have it, although their modules are not that comprehensive or user friendly.
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Usability
Exact Software
No answers on this topic
Workday
Workday is easy enough navigate, as long as it is properly set up. With that said, it can be put together in a modular fashion as well, allowing for a very high degree of flexibility in terms of design and process delegation. Finally, it makes consolidation achievable in times previously unthinkable.
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Support Rating
Exact Software
No answers on this topic
Workday
Our support team has been awesome. They are extremely knowledgeable and have been able to guide us through all of the challenges we have faced. Workday's community online is also extremely helpful with many trainings and help topics that can be reviewed at your convenience.
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Alternatives Considered
Exact Software
I would not select Exact Online, but I can direct you to better options. Due to the high price, getting behind the competition and support I would suggest options like Zoho Books for you bookings, or CyberStockroom as ERP. And here in the Netherlands e-boekhouden.nl is a real nice, cheap, and fast working booking platform for the smaller companies.
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Workday
I miss using Workday Financial Managment, and if I moved departments or took on more responsibilities with the financials I would definitely recommend it!
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Return on Investment
Exact Software
  • Negative: High costs and implement time turned 1 client in to the negative, and after 2 years of use wants to stop.
  • Positive: Once an ERP connection is running you can automate a lot in the process.
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Workday
  • Quick and non-glitchy financial reporting.
  • As more people use it, inter-department talks are always there as HR and Project managers are talking about the same software.
  • The disturbance in service is no longer the problem as It integrates the three different sectors of financial reporting.
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ScreenShots