Oracle E-Business Suite is a comprehensive suite of integrated, global business applications. The suite includes cross-industry capabilities spanning ERP, CRM and supply chain planning.
N/A
Workday Financial Management
Score 8.2 out of 10
N/A
Workday Financial Management is a native cloud solution built on a global foundation designed to enable accounting teams to operate with greater productivity, superior insights, and adapt to changing business needs. Its AI embedded features improve financial business processes like record to report and opportunity to cash while strengthening internal controls, and enabling consistency across global operations. Powered by an in-memory architecture and object data…
One of the best features of Oracle eBusiness Suite is that you have flexibility in terms of customization. You can customize the application for your current and specific needs.
While the advantage of Workday is its UI and general ease of use, the depth of functionality that it offers is not great and given that it is a SaaS product, there is not much flexibility in terms of customizing the application to our specific needs.
Oracle Cash and Treasury Management fill the gaps in treasury management with features that are very helpful in building the modern financial system that we so desperately need. It may not be the most intuitive tool on the treasury market, but with a little more practice time, important expense analysis can be achieved. I am confident in this treasury tool for this year 2022 and I would like to recommend it to other companies so that they can also have a better administration.
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 EBS Oracle Order Management and Shipping Execution solution allows the creation of an integrated, seamless order-to-cash process and accurately capture of customer orders across multiple channels.
Orchestration of order details for seamless fulfillment execution.
Efficient shipment planning and confirmation.
Communication of order status information to customers throughout the order lifecycle.
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.
After almost 5 years, we have a full control of this ERP System. We are able to implement new functionalities and modules without any major "consulting" expenses. As of today we are making almost 90% of the personalization/customization and implementation all in house. Once [it] is tuned, [it] keeps running very well with no major issues.
The various forms - like order entry forms that allow the uses to enter sales orders and the ability to personalize the views based on end user needs - are easy to use and follow standard business processes. The new release has a big focus on usability and forms now have a familiar web look and feel which has increased usability considerably.
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.
Because of the transactional nature of the system this software is available 24 X 7, and IT is responsible for making sure the system is available during normal business hours.
The performance of the product is very good. Given the transactional nature of the system one of the key focus areas for IT is to make sure performance is not affected for internal reasons. This can also depend on the server configuration and setup. For example, performance on Exadata machine is far superior to other Linux custom systems that companies choose to deploy. In general though, as already pointed out, the platform is now very stable and has few bugs. Whenever there are any issues, the cause is usually customizations that we have made to the platform, rather than out-of-the-box standard functionality.
In general, support has not been great - particularly standard (non premium) support . The main issue is that our IT staff has been using this platform for years and is very knowledgeable Whenever something goes wrong, we usually have a very precise idea of what the problem is. We are skilled at problem diagnosis. But the Oracle support process is very rigid and slow. Typically, we are required to go through a lengthy diagnosis process where they ask us multiple questions sometimes over several days and we are obliged to talk to different people with differing levels of knowledge. Since we already know what the problem is, we really just want a patch or a bug fix, but it takes days to get there instead of minutes. This can be very frustrating. This is a big part of the reason why we pay for premium support. But it's still a bit disappointing.
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.
The key success factors for the implementation was project management, in-house expertise in IT and time. The implementation process started with the initial evaluation with the initial upgrade on a test system and mapping out the gaps and requirements. We did work with Oracle to understand the new functionality R12 had to offer and did another upgrade and researched solutions. With the use of software development cycle procedures there were conference room pilots with IT, business users. We then refined the project plan to the core key details, performed mock go-live implementations and finally upgraded the software. Overall, this was a very successful process.
Oracle e-business suite is better than any other ERP because it is more user-friendly and can be operated by anyone even those who don't know how to run it. Also it has better APS, allowing you to better track costs and allocate resources more efficiently. Also, it has better event management, tracking, and Reporting.
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.
We recently implemented Supplier Portal and Invoice Imaging Solution. This has reduced manual effort and increased speed and accuracy. There is no need for people to key in invoices manually now. Suppliers can flip a purchase order into invoice and Oracle will do all the validations and put the invoice on hold in case of any discrepancy.
Suppliers are very happy with the supplier portal as they can track the entire lifecycle of the invoice online.
With automation, we could bill all our customers on time. Oracle collects all the possible costs like payroll and expenses, adds markup, and bills our customers. We could track profitability and margins by project.
The period close and reporting has become easier and faster with this software. 3 people can close the periods now as opposed to 10 before.
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.
