Workday 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…
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Pricing
Mongoose
Workday Financial Management
Editions & Modules
Basic
$2,500
per year
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Offerings
Pricing Offerings
Mongoose
Workday Financial Management
Free Trial
Yes
No
Free/Freemium Version
No
No
Premium Consulting/Integration Services
No
No
Entry-level Setup Fee
No setup fee
No setup fee
Additional Details
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Community Pulse
Mongoose
Workday Financial Management
Features
Mongoose
Workday Financial Management
Payroll Management
Comparison of Payroll Management features of Product A and Product B
Mongoose
-
Ratings
Workday Financial Management
8.1
23 Ratings
9% above category average
Pay calculation
00 Ratings
8.323 Ratings
Benefit plan administration
00 Ratings
8.020 Ratings
Direct deposit files
00 Ratings
8.120 Ratings
Customization
Comparison of Customization features of Product A and Product B
Mongoose
-
Ratings
Workday Financial Management
8.1
20 Ratings
8% above category average
API for custom integration
00 Ratings
8.517 Ratings
Plug-ins
00 Ratings
7.719 Ratings
Security
Comparison of Security features of Product A and Product B
Mongoose
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Ratings
Workday Financial Management
9.0
25 Ratings
7% above category average
Single sign-on capability
00 Ratings
9.225 Ratings
Role-based user permissions
00 Ratings
8.823 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
Mongoose
-
Ratings
Workday Financial Management
7.9
27 Ratings
7% above category average
Dashboards
00 Ratings
8.027 Ratings
Standard reports
00 Ratings
7.924 Ratings
Custom reports
00 Ratings
8.022 Ratings
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
Mongoose
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Ratings
Workday Financial Management
7.7
23 Ratings
0% above category average
Accounts payable
00 Ratings
7.418 Ratings
Accounts receivable
00 Ratings
6.918 Ratings
Global Financial Support
00 Ratings
7.419 Ratings
Primary and Secondary Ledgers
00 Ratings
7.319 Ratings
Journals and Reconciliations
00 Ratings
7.616 Ratings
Configurable Accounting
00 Ratings
7.619 Ratings
Standardized Processes
00 Ratings
7.820 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
Mongoose
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Ratings
Workday Financial Management
7.1
11 Ratings
12% below category average
Inventory tracking
00 Ratings
7.511 Ratings
Automatic reordering
00 Ratings
7.211 Ratings
Location management
00 Ratings
6.710 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
At our college, the admissions team also uses Cadence. I think it's particularly useful for back-and-forth interactions in real time (or through an AI chatbot) My department focuses only on donors and alums. These communications are much less likely to be back-and-forth. They're more informational in nature which makes some of the features un-necessary. It's easy for a recipient to opt-out, but not easy to set up scenarios where they can opt out of specific types of texts - all-or-nothing is more likely and it's difficult for them to re-subscribe once they've opted out.
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.
There is built-in connection with Raiser's Edge NXT but the field mapping is overly complicated and setting it up requires action both on customer end and Cadence end
Cannot update a bad email address without deleting the record and re-importing it
Cannot simply add records - must be done through import from a spreadsheet
assigning a record to a user can only be done during initial import
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.
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.
We are currently evaluating Mailchimp's SMS option to see if the price for adding that feature is less than what we are paying for Cadence. Currently we are ONLY using Mailchimp for email communications, but the interface is much more user friendly. We have not yet had a chance to demo the SMS feature to compare it to Cadence, but we plan to check it out.
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.
Too early (one year) to have hard ROI info, but we have had constituents who have indicated a preference for text as their primary means of interacting with our organization.
Even with the integration with Raiser's Edge NXT it takes time to update the database with opt-outs.
We have fewer constituents with mobile numbers than those with email addresses. We will have to appeal to our constituents to share mobile numbers with us
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.