PowerPlan vs. Workday Financial Management

[PowerPlan is well suited for] Any Utility who handles their own Fixed Asset Accounting and Reporting. There are very few specialized solutions in this space that can handle this out of the box. Core functionality and support with PowerPlan are excellent. If you have a firm or service that handles a portion or the majority of your Fixed Asset Accounting and Reporting than this solution is overkill and costly for what you need. There may be other options also if you have a robust internal technology team that is comfortable developing another major fixed asset solution into what you need. Cloud Hosting is also not available at this time and will likely be several releases out and be a major redesign (unstable) at first.

Incentivized

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

• Allow the use of retirement units for unitization out of the box.
• Align with Ferc Account and Reporting Standards
• Provide Dashboards that can be configured for different users or groups
• Functions well in a Project Centric Accounting Environment.

Incentivized

• 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

• The backend technology is dated and requires specialized skills or PowerPlan assistance to develop on.
• UI is also outdated and not as visually appealing as users are now accustomed to.
• Reporting is basic in functionality and appearance.

Incentivized

• 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

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

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

Oracle Financials (E-Business Suite) is a very Robust ERP solution that has better integration, reporting and functionality than PowerPlan. It also operates on a more Robust Technology Stack. The Fixed Assets Module is a great solution but lacks support for Utility Specific features and functionality, so much so that we chose PowerPlan to take over this specific functionality while still utilizing Oracle for the Majority of our Project and other Accounting Functions.

Incentivized

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

• Better Fixed Asset Reporting to Provide to Rate Commissions.
• Allowed us to embark on a major Unitization initiative and re-design of our retirement catalog.
• Focus the Support team on other technologies due to the stable nature and good vendor support.

Incentivized

• 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