What users are saying about
196 Ratings
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Score 7.8 out of 100
26 Ratings
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Score 7.7 out of 100

Likelihood to Recommend

Oracle Hyperion

Well suited: For use in multiple offices around the world. I was able to obtain financial reporting data from 5 foreign offices and then consolidate their data with 3 domestic USA offices to prepare a consolidated financial statement.Less Appropriate: Translating the financial value for consulting services could be a bit challenging because that required human interaction and judgement. It would have been great to be able to set up some software to be able to interpret this and let it run for all future project work revenue projection.
Anonymous | TrustRadius Reviewer

Workday Financial Management

Workday is a very innovative platform that offers plenty of options and resources to its users in their daily lives. I have used Workday in three of the organizations I have worked in the past for. I am also a current user of Workday through my employer. Workday is best suitable for any retail or customer-facing environments. More and more companies are using Workday to even have strong candidates apply for a job. This helps them navigate their way through a platform that they will be using in the near future.
Zahra Najib | TrustRadius Reviewer

Feature Rating Comparison

BI Standard Reporting

Oracle Hyperion
7.4
Workday Financial Management
Pixel Perfect reports
Oracle Hyperion
7.2
Workday Financial Management
Customizable dashboards
Oracle Hyperion
7.1
Workday Financial Management
Report Formatting Templates
Oracle Hyperion
7.8
Workday Financial Management

Ad-hoc Reporting

Oracle Hyperion
7.6
Workday Financial Management
Drill-down analysis
Oracle Hyperion
8.3
Workday Financial Management
Formatting capabilities
Oracle Hyperion
7.7
Workday Financial Management
Integration with R or other statistical packages
Oracle Hyperion
7.3
Workday Financial Management
Report sharing and collaboration
Oracle Hyperion
7.0
Workday Financial Management

Report Output and Scheduling

Oracle Hyperion
6.8
Workday Financial Management
Publish to Web
Oracle Hyperion
6.4
Workday Financial Management
Publish to PDF
Oracle Hyperion
6.5
Workday Financial Management
Report Versioning
Oracle Hyperion
7.1
Workday Financial Management
Report Delivery Scheduling
Oracle Hyperion
7.4
Workday Financial Management

Data Discovery and Visualization

Oracle Hyperion
7.1
Workday Financial Management
Pre-built visualization formats (heatmaps, scatter plots etc.)
Oracle Hyperion
6.9
Workday Financial Management
Location Analytics / Geographic Visualization
Oracle Hyperion
7.3
Workday Financial Management
Predictive Analytics
Oracle Hyperion
7.2
Workday Financial Management

Access Control and Security

Oracle Hyperion
7.3
Workday Financial Management
Multi-User Support (named login)
Oracle Hyperion
7.3
Workday Financial Management
Role-Based Security Model
Oracle Hyperion
6.6
Workday Financial Management
Multiple Access Permission Levels (Create, Read, Delete)
Oracle Hyperion
7.4
Workday Financial Management
Single Sign-On (SSO)
Oracle Hyperion
7.9
Workday Financial Management

Mobile Capabilities

Oracle Hyperion
5.6
Workday Financial Management
Responsive Design for Web Access
Oracle Hyperion
6.1
Workday Financial Management
Dedicated iOS Application
Oracle Hyperion
5.0
Workday Financial Management
Dedicated Android Application
Oracle Hyperion
5.0
Workday Financial Management
Dashboard / Report / Visualization Interactivity on Mobile
Oracle Hyperion
6.2
Workday Financial Management

Budgeting, Planning, and Forecasting

Oracle Hyperion
8.2
Workday Financial Management
Long-term financial planning
Oracle Hyperion
8.4
Workday Financial Management
Financial budgeting
Oracle Hyperion
8.5
Workday Financial Management
Forecasting
Oracle Hyperion
8.2
Workday Financial Management
Scenario modeling
Oracle Hyperion
7.5
Workday Financial Management
Management reporting
Oracle Hyperion
8.5
Workday Financial Management

Consolidation and Close

Oracle Hyperion
7.8
Workday Financial Management
Financial data consolidation
Oracle Hyperion
8.3
Workday Financial Management
Journal entries and reports
Oracle Hyperion
7.9
Workday Financial Management
Multi-currency management
Oracle Hyperion
8.2
Workday Financial Management
Intercompany Eliminations
Oracle Hyperion
7.6
Workday Financial Management
Minority Ownership
Oracle Hyperion
7.4
Workday Financial Management
Local and consolidated reporting
Oracle Hyperion
7.8
Workday Financial Management
Detailed Audit Trails
Oracle Hyperion
7.6
Workday Financial Management

Financial Reporting and Compliance

Oracle Hyperion
8.2
Workday Financial Management
Financial Statement Reporting
Oracle Hyperion
8.5
Workday Financial Management
Management Reporting
Oracle Hyperion
8.4
Workday Financial Management
Excel-based Reporting
Oracle Hyperion
8.9
Workday Financial Management
Automated board and financial reporting
Oracle Hyperion
7.7
Workday Financial Management
XBRL support for regulatory filing
Oracle Hyperion
7.5
Workday Financial Management

Analytics

Oracle Hyperion
7.5
Workday Financial Management
Personalized dashboards
Oracle Hyperion
8.0
Workday Financial Management
Color-coded scorecards
Oracle Hyperion
7.3
Workday Financial Management
KPIs
Oracle Hyperion
7.4
Workday Financial Management
Cost and profitability analysis
Oracle Hyperion
7.8
Workday Financial Management
Key Performance Indicator setting
Oracle Hyperion
7.2
Workday Financial Management
Benchmarking with external data
Oracle Hyperion
7.4
Workday Financial Management

Integration

Oracle Hyperion
8.0
Workday Financial Management
Flat file integration
Oracle Hyperion
8.2
Workday Financial Management
Excel data integration
Oracle Hyperion
8.5
Workday Financial Management
Direct links to 3rd-party data sources
Oracle Hyperion
7.3
Workday Financial Management

Payroll Management

Oracle Hyperion
Workday Financial Management
9.3
Pay calculation
Oracle Hyperion
Workday Financial Management
9.3
Benefit plan administration
Oracle Hyperion
Workday Financial Management
9.3
Direct deposit files
Oracle Hyperion
Workday Financial Management
9.3
Salary revision and increment management
Oracle Hyperion
Workday Financial Management
9.3
Reimbursement management
Oracle Hyperion
Workday Financial Management
9.3

Customization

Oracle Hyperion
Workday Financial Management
8.0
API for custom integration
Oracle Hyperion
Workday Financial Management
8.0
Plug-ins
Oracle Hyperion
Workday Financial Management
8.0

Security

Oracle Hyperion
Workday Financial Management
9.8
Single sign-on capability
Oracle Hyperion
Workday Financial Management
9.8
Role-based user permissions
Oracle Hyperion
Workday Financial Management
9.8

Reporting & Analytics

Oracle Hyperion
Workday Financial Management
9.4
Dashboards
Oracle Hyperion
Workday Financial Management
9.3
Standard reports
Oracle Hyperion
Workday Financial Management
9.5
Custom reports
Oracle Hyperion
Workday Financial Management
9.3

General Ledger and Configurable Accounting

Oracle Hyperion
Workday Financial Management
8.9
Accounts payable
Oracle Hyperion
Workday Financial Management
9.5
Accounts receivable
Oracle Hyperion
Workday Financial Management
9.5
Expense management
Oracle Hyperion
Workday Financial Management
8.0
Global Financial Support
Oracle Hyperion
Workday Financial Management
8.5
Primary and Secondary Ledgers
Oracle Hyperion
Workday Financial Management
8.0
Intercompany Accounting
Oracle Hyperion
Workday Financial Management
8.0
Localizations
Oracle Hyperion
Workday Financial Management
8.0
Journals and Reconciliations
Oracle Hyperion
Workday Financial Management
9.5
Configurable Accounting
Oracle Hyperion
Workday Financial Management
9.5
Centralized Rules Framework
Oracle Hyperion
Workday Financial Management
9.5
Standardized Processes
Oracle Hyperion
Workday Financial Management
9.5

Order Management

Oracle Hyperion
Workday Financial Management
10.0
Credit card processing
Oracle Hyperion
Workday Financial Management
10.0

Pros

Oracle Hyperion

  • This product handles budgeting by Employee and/or Position very well. It is highly flexible and allows Hyperion administrators the ability to develop a planning application that fits a variety of different business needs.
  • It is great at calculating benefits using business rules to automate the population of these fringe costs in the overall budget planning process. This greatly reduces user error.
  • It allows you to seed the operating budget based on changes to key drivers, such as percentage increases, flat dollar increases and more detailed changes using business rules.
  • Allows visibility into the plans for each unit across the organization, rolled up into an overall budget for the campus.
  • It handles the creation of budgets with multiple chartfield segments or dimensions, which most other budgeting systems cannot handle well. It can aggregate these very quickly.
Teal Sexton | TrustRadius Reviewer

Workday Financial Management

  • We specically wanted a cloud financial management system that we could use in China and communicate reports to the headquarters organization and roll-up reporting. It performs well.
  • It was reasonably priced since we are not a for-profit company and need the Workday flexibility for finance and accounting operations. Most of our requirements are met with this one system.
  • The system worked efficiently with the additional security we built on to keep confidential. Many reports are ready off-the-shelf or easy to develop, which is a strength.
Anonymous | TrustRadius Reviewer

Cons

Oracle Hyperion

  • One pain point for us is the consolidation and translation process. Needing to translate the data over and over again is frustrating and there is no visibility into how many users are running a translation. If multiple users attempt to translate the same data set, say goodbye to your performance but you have no way of knowing! (Unless you want to pull up a task audit which is not a very realistic expectation). It has the been the quickest way for us to bring the system to it's knees. The consolidation process performs in direct correlation to the complexity of the calculation/consolidation rules. So, while the product is extremely flexible, you still have to be careful how you design your rules and calculations to make sure that you do it on the smallest subset of data as possible to avoid large processing times. This makes sense, but requires some significant expertise that most organizations do not have in-house.
  • The Hyperion Financial Reporting product is ridiculously outdated and clunky to use. The interface for designing reports is not intuitive, and not easy to modify once a report is built. I think there must be a strategic decision to move away from it and go to something more like Oracle BI because I just can't understand why in the world they don't update the reporting product. It also requires a significant level of expertise to be able to use. Not a great solution at all if you want multiple end-users to create reports in something other than Excel. Nobody except the HFM admin (which I used to be) in our company even touches this module.
  • Another pain point is the amount of IT support that is required to run this thing, and again, specialized knowledge of Hyperion products and how they work is required for IT to adequately support it. This goes for application servers and the Oracle database that the applications are running on.
Matt Downing | TrustRadius Reviewer

Workday Financial Management

  • We only used this system for a short time before switching over to new software, but nothing from my experience. There are a lot of great tools with Workday Financial Management, I'm sure our other departments could have made great use out of features like inventory, expenses, or procurement.
Anonymous | TrustRadius Reviewer

Likelihood to Renew

Oracle Hyperion

Oracle Hyperion 5.0
Based on 1 answer
We're in the middle of the road because we are not sure that other products on the market fit the bill for what we need yet. Hyperion is expensive and burdensome from an administrator and maintenance standpoint, but it still seems to be the best solution for what we need. Show us an equally capable SaaS consolidation product and we'll talk again.
Matt Downing | TrustRadius Reviewer

Workday Financial Management

No score
No answers yet
No answers on this topic

Support Rating

Oracle Hyperion

Oracle Hyperion 8.0
Based on 1 answer
The premium support team provides much needed dedicated customer service which we are after for what we have paid for this service. We are satisfied with the service and support and do not have any instance where there was an issue that requires escalation to get the right support team. Though the incidence of major issues that requires the premium support are less, we prefer to keep this as a safety net.
Anonymous | TrustRadius Reviewer

Workday Financial Management

No score
No answers yet
No answers on this topic

Alternatives Considered

Oracle Hyperion

I use Oracle Hyperion Enterprise Performance Mangement because the company I work at requires me to use it in the Financial Planning sector as most of their data is stored in it. I am open minded and ready to use other performance management tools created by Oracle if my work permits.
Ricky Bhatia | TrustRadius Reviewer

Workday Financial Management

  • It is a simple and intuitive solution that can be customized for your specific needs.
  • It unifies HR and finance, giving you predictive analytics, real-time insights, and global visibility.
  • It offers a single version of the tool to meet the requirements of diverse companies.
  • It integrates seamlessly with a large number of business apps and systems.
Zahra Najib | TrustRadius Reviewer

Return on Investment

Oracle Hyperion

  • Oracle Hyperion allows us to automate and consolidate financial data that used to be performed manually in spreadsheets. From that perspective the ROI is huge.
  • Oracle Hyperion functionality is extensive and allows us to perform most functions for planning, consolidating and reporting on our financial data.
  • One negative with Oracle Hyperion is that it is complicated to implement and maintain. It takes expertise at all levels (infrastructure and management) to realize the benefits from it.
Anonymous | TrustRadius Reviewer

Workday Financial Management

  • As a new starup affiliate five years ago, we did not have a huge budget. The ROI was met relatively quickly, no surprises here.
  • With minimal consulting assistance, this made the implementation cost reasonable, if any software implementation could be considered reasonable.
  • It was a risk to implement Workday Financial Management in one country but we did leverage it with HCM in the states.
Anonymous | TrustRadius Reviewer

Pricing Details

Oracle Hyperion

General

Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No

Workday Financial Management

General

Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No

Rating Summary

Likelihood to Recommend

Oracle Hyperion
7.8
Workday Financial Management
9.5

Likelihood to Renew

Oracle Hyperion
5.0
Workday Financial Management

Support Rating

Oracle Hyperion
8.0
Workday Financial Management

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