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IBM Engineering Lifecycle Management vs. Workday Financial Management

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    Overview
    ProductRatingMost Used ByProduct SummaryStarting Price

    IBM Engineering Lifecycle Management

    Score5 out of 10
    N/AIBM Engineering Lifecycle Management (ELM) is an integrated suite for managing requirements, engineering work, system and software models, and verification activities across complex product-development programs. It is used by systems engineers, software teams, test organizations, project managers, and compliance teams in industries such as automotive, aerospace and defense, medical devices, and public infrastructure.N/A

    Workday Financial Management

    Score8.5 out of 10
    N/AWorkday Financial Management is a cloud-based financial software platform built on an in-memory architecture and an object-oriented data model. The system unifies transaction processing, multidimensional reporting, and consolidation into a single environment accessible via web and mobile interfaces. Financial Operations and Automation The platform employs Artificial Intelligence (AI) models and specialized financial agents to manage core business cycles. These…N/A
    Pricing
    IBM Engineering Lifecycle ManagementWorkday Financial Management
    Editions & Modules
    No answers on this topic
    No answers on this topic
    Offerings
    Pricing Offerings
    IBM Engineering Lifecycle ManagementWorkday 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
    IBM Engineering Lifecycle ManagementWorkday Financial Management
    Considered Both Products
    IBM
    No answer on this topic
    Workday
    No answer on this topic
    Key User Insights
    Would buy again
    78%
    Would buy again
    7 Answers
    96%
    Would buy again
    23 Answers
    Delivers good value for the price
    88%
    Delivers good value for the price
    7 Answers
    95%
    Delivers good value for the price
    21 Answers
    Happy with the feature set
    89%
    Happy with the feature set
    8 Answers
    96%
    Happy with the feature set
    23 Answers
    Lived up to sales and marketing promises
    100%
    Lived up to sales and marketing promises
    5 Answers
    95%
    Lived up to sales and marketing promises
    19 Answers
    Implementation went as expected
    86%
    Implementation went as expected
    6 Answers
    89%
    Implementation went as expected
    17 Answers
    Features
    IBM Engineering Lifecycle ManagementWorkday Financial Management
    Payroll Management
    Comparison of Payroll Management features of IBM Engineering Lifecycle Management and Workday Financial Management
    Feature
    IBM Engineering Lifecycle Management
    -
    Ratings
    Workday Financial Management
    8.1
    23 Ratings
    8% above category average
    Pay calculation00 Ratings8.323 Ratings
    Benefit plan administration00 Ratings8.020 Ratings
    Direct deposit files00 Ratings8.220 Ratings
    Customization
    Comparison of Customization features of IBM Engineering Lifecycle Management and Workday Financial Management
    Feature
    IBM Engineering Lifecycle Management
    -
    Ratings
    Workday Financial Management
    8.2
    20 Ratings
    9% above category average
    API for custom integration00 Ratings8.417 Ratings
    Plug-ins00 Ratings7.919 Ratings
    Security
    Comparison of Security features of IBM Engineering Lifecycle Management and Workday Financial Management
    Feature
    IBM Engineering Lifecycle Management
    -
    Ratings
    Workday Financial Management
    9.0
    25 Ratings
    7% above category average
    Single sign-on capability00 Ratings9.225 Ratings
    Role-based user permissions00 Ratings8.823 Ratings
    Reporting & Analytics
    Comparison of Reporting & Analytics features of IBM Engineering Lifecycle Management and Workday Financial Management
    Feature
    IBM Engineering Lifecycle Management
    -
    Ratings
    Workday Financial Management
    8.0
    27 Ratings
    6% above category average
    Dashboards00 Ratings8.227 Ratings
    Standard reports00 Ratings7.924 Ratings
    Custom reports00 Ratings8.122 Ratings
    General Ledger and Configurable Accounting
    Comparison of General Ledger and Configurable Accounting features of IBM Engineering Lifecycle Management and Workday Financial Management
    Feature
    IBM Engineering Lifecycle Management
    -
    Ratings
    Workday Financial Management
    7.7
    23 Ratings
    0% below category average
    Accounts payable00 Ratings7.518 Ratings
    Accounts receivable00 Ratings6.918 Ratings
    Global Financial Support00 Ratings7.519 Ratings
    Primary and Secondary Ledgers00 Ratings7.419 Ratings
    Journals and Reconciliations00 Ratings7.716 Ratings
    Configurable Accounting00 Ratings7.719 Ratings
    Standardized Processes00 Ratings7.920 Ratings
    Inventory Management
    Comparison of Inventory Management features of IBM Engineering Lifecycle Management and Workday Financial Management
    Feature
    IBM Engineering Lifecycle Management
    -
    Ratings
    Workday Financial Management
    7.2
    11 Ratings
    10% below category average
    Inventory tracking00 Ratings7.611 Ratings
    Automatic reordering00 Ratings7.311 Ratings
    Location management00 Ratings6.810 Ratings
    Order Management
    Comparison of Order Management features of IBM Engineering Lifecycle Management and Workday Financial Management
    Feature
    IBM Engineering Lifecycle Management
    -
    Ratings
    Workday Financial Management
    7.3
    11 Ratings
    8% below category average
    Credit card processing00 Ratings7.311 Ratings
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    Score2 out of 10
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    All AlternativesView all alternativesView all alternatives
    User Ratings
    IBM Engineering Lifecycle ManagementWorkday Financial Management
    Likelihood to Recommend
    3.0
    (22 ratings)
    8.4
    (27 ratings)
    Likelihood to Renew
    8.0
    (6 ratings)
    9.0
    (1 ratings)
    Usability
    4.0
    (5 ratings)
    9.0
    (10 ratings)
    Support Rating
    5.0
    (3 ratings)
    10.0
    (5 ratings)
    Implementation Rating
    10.0
    (1 ratings)
    -
    (0 ratings)
    User Testimonials
    IBM Engineering Lifecycle ManagementWorkday Financial Management
    Likelihood to Recommend
    IBM
    The software is robust enough to handle highly complex software development or other product development and can be used well beyond the range to do what a client needs. However, because of the inability to hold its users to proper best practices, things can get wildly out of hand and cascade over the years, creating unnecessary technical debt. The system has a lot of usable features, but they don't funnel users toward the correct processes and practices.
    Incentivized
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    Workday
    Workday is well suited for managing employees throughout their full life cycle. It excels at housing employee data from the start of their time with the company through their departure. Workday is less suited to payroll functions, which could be more robust.
    Incentivized
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    Pros
    IBM
    • Open Services supporting Lifecycle Collaboration (OSLC).
    • Required definition management and managed capabilities enabling.
    • Rational DOORS Web Access for local on the test field presence.
    • On-sites established reporting system.
    • Approved linking requirements to test plans
    • Engineering Requirements Management DOORS traces requirements thereby eliminates manually processes and spreadsheets, for improved productivity.
    • Returns the investment efficiently.
    Incentivized
    Read full review
    Workday
    • The flexibility of going beyond handling the accounts, where we can handle cash, assets, and accounting simultaneously for the customer.
    • The single platform offers grants management where you can organize the lifecycle of the grants and synchronize it with any criteria of grant closing out scheme.
    • I personally liked Project billing with the essence of evaluating project revenue and nice reporting templates that can be shared with the customer at any stage of the project while having the flexibility of auditing the reported cost.
    Incentivized
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    Cons
    IBM
    • I feel like it is too heavy sometimes and updating is not very straight forward. For example, if I want to change an incident ticket (IN) to a service request (SR) and add some comment for the change, I have to first change the IN to SR, then click refresh which takes a few seconds, then add a comment. If I forget the refresh step, my comment will be discarded without warning like my ticket is not in the latest status. This also happens when somebody else changes the ticket during my edit as I can not lock the ticket exclusively.
    Incentivized
    Read full review
    Workday
    • Some of the Workday updates last till like 10 in the morning which prevents employees to clock in and check their times and some cases their schedules
    • Workday can work on opening documents quicker instead of taking couple of minutes or notifying the user when they are ready to download
    Incentivized
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    Likelihood to Renew
    IBM
    At the moment we are required by contract to continue to use the IBM DOORS software for our current client. Given that it can be expensive, if we were to use it after our current client's needs were met, we would have to secure other projects in order to justify the continued use of the software.
    Incentivized
    Read full review
    Workday
    No answers on this topic
    Usability
    IBM
    The UI is terrible and not intuitive. Users need training in order to complete tasks. Much like SAP, it's not the clearest tool. The tracing feature is especially complicated because you must write the scripts yourself. There is a learning curve. Also, even the setup, installation, and logging in each time takes a considerable amount of time.
    Incentivized
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    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.
    Incentivized
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    Support Rating
    IBM
    It does a basic job and has the potential to complete some robust reporting tasks, however, it really is a clunky piece of software with a terrible user interface that makes using it routinely quite unpleasant. Many of our legacy and maintenance projects still use DOORS but our department and company use many alternatives and are looking for better tools.
    Incentivized
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    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.
    Incentivized
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    Implementation Rating
    IBM
    No problems
    Incentivized
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    Workday
    No answers on this topic
    Alternatives Considered
    IBM
    It was easier to do all the change management-related activities, even configurations were handled very effectively. New process definitions and initiatives made it easier for better project deliverables. Effective resource allocations and better reporting and defect management. The overall cost of the tool is great too and well within budget.
    Incentivized
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    Workday
    Despite Airtable also being easier to use one thing that differentiates and put forth Workday Financial Management tool above is it's key features and better suited functionality for handling confidential data. The other positive note where Workday Financial Management performs high is it key analytics tool that's easier to use and representation of information into insightful dashboards.
    Incentivized
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    Return on Investment
    IBM
    • It's part of CLM suite so it can be used to manage the whole lifecycle with tight integration with development module (Rational Team Concert) and quality module (Rational Quality Manager).
    • Comprehensive reports and dashboards provide better visibility.
    • License cost is on higher side.
    Incentivized
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    Workday
    • We were able to combine 4 different HR modules into one system.
    • We reduced data breach incidents by 95% after shifting to Workday. One of our legacy softwares had vulnerabilities.
    • The initial learning curve was higher than projected. We spent about a week to 10 days extra time deploying it, which affected the profit center that year.
    Incentivized
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    ScreenShots

    Workday Financial Management Screenshots

    Screenshot of a discovery boardScreenshot of financial resultsScreenshot of operational analysis