IFS Applications is presented by the vendor as an agile application suite that offers enterprise resource planning (ERP), enterprise asset management (EAM) and enterprise project management, handling 4 core processes: Service & Asset Management Full Enterprise Asset Management (EAM), Maintenance Repair and Overhaul (MRO) and Field Service Management (FSM) Manufacturing Enterprise Resource Planning (ERP) with support for process manufacturing, discrete manufacturing…
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Workday Financial Management
Score 8.3 out of 10
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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,…
Order to cash processes and scenario are implemented natively in IFS. An HR module exists for career management also (objectives, comportments, training, mobility) but may be improved in terms of workflow validation (e.g. training to validate by a manager) or reporting.
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.
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.
The speed of bug fixes should be improved by the IFS after sales teams. We saw the difference of responsiveness prior to Go Live and after Go Live, with a change of teams. IFS France is working on that point, and strategically wants to innovate by acting now with two other third-party companies in early 2017, to improve the after sales experience for customers.
There is no license model between the full licenses, which gives access to all IFS features, and the light licenses, to get access to a specific module like expense sheet. As a consequence, you must acquire a full access license for one team working only with a dedicated module (e.g. general ledger). Maybe an intermediate type license would be welcome to balance the budget. IFS tries to make prices competitive but you have to consider full upgrades of the product too, where requiring full licenses can be hard on the budget.
When you have an Active Directory ecosystem with a trust relationship, users from domain B can't natively access IFS, even if AD sync is in place with domain A. It's important to improve that functionality because many companies have a merge and acquisition context, with SOX constraints sometimes, and avoiding maintaining contacts or local accounts simplifies SOX compliance, or to management of accounts within the company.
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.
We have been unable to get answers to our questions, solutions to our problems, and they don't seem interested in working in the construction industry.
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.
Microsoft AX, QAD (in continuation of our previous ERP), Sage X3 was an out of the box ERP that was part of initial RFP. We have chosen IFS based on the compromise between costs & budget, functionality, technical features, and feedback from similar customers that gave their feedback. The project manager team and qualification level of technical or consultant teams were differentiating factors too. Finally IFS application was named in the Gartner’s mid-market ERP Magic Quadrant, along with SAP, and helped us to finalize our choice
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.
Reporting is now centralized and managed. Previously, reports were outside the information systems and there was a risk of incoherence.
Accounting controls are now in place on the overall processes, including production, which helped the company to reduce closing periods or to produce more easily official mandatory accounting files yearly.
Interfaces between the CRM forecast tool and IFS helped to keep the tools in sync, and to decrease the processing times prior to production launch.
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.
