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
SOFI
Workday Financial Management
Editions & Modules
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No answers on this topic
Offerings
Pricing Offerings
SOFI
Workday Financial Management
Free Trial
No
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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More Pricing Information
Community Pulse
SOFI
Workday Financial Management
Features
SOFI
Workday Financial Management
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
SOFI
7.1
1 Ratings
8% below category average
Workday Financial Management
7.7
23 Ratings
0% above category average
Accounts payable
7.01 Ratings
7.418 Ratings
Accounts receivable
7.01 Ratings
6.918 Ratings
Global Financial Support
5.01 Ratings
7.419 Ratings
Primary and Secondary Ledgers
5.01 Ratings
7.319 Ratings
Journals and Reconciliations
8.01 Ratings
7.616 Ratings
Configurable Accounting
9.01 Ratings
7.619 Ratings
Standardized Processes
9.01 Ratings
7.820 Ratings
Payroll Management
Comparison of Payroll Management features of Product A and Product B
SOFI
-
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
SOFI
-
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
SOFI
-
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
SOFI
-
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
Inventory Management
Comparison of Inventory Management features of Product A and Product B
SOFI
-
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
They honestly do everything. From their APY to monthly payments to ease of transfer to fee free ATMs, and an app that allows to you to solve nearly anything and I mean anything and everything on your own on your own personal cell phone. I love SOFI and their stadium.
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.
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.
Hatch had a great APY, but nothing to invest towards my IRA. Then, they lost their APY so I got SOFI. I'm not sure if Hatch is in business anymore, but I'd stick with SOFI for an online bank over nearly all others. PayPal and Cash app don't come close either.
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 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.