Workday Financial Management

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Workday Financial Management
Score 8.3 out of 10
N/A
Workday Financial Management is built on a global foundation that provides organizations with the core financial management capabilities expected from a modern cloud solution. It goes well beyond just managing financial processes to achieve greater insight, improve financial consolidation and reduce time to close, instill internal control and auditability, and achieve consistency across global operations. By using an in-memory architecture and object data model,…N/A
Pricing
Workday Financial Management
Editions & Modules
No answers on this topic
Offerings
Pricing Offerings
Workday Financial Management
Free Trial
No
Free/Freemium Version
No
Premium Consulting/Integration Services
No
Entry-level Setup FeeNo setup fee
Additional Details
More Pricing Information
Community Pulse
Workday Financial Management
Considered Both Products
Workday Financial Management
Chose Workday Financial Management
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 …
Chose Workday Financial Management
Workday Financial Management provides additional capabilities like real time financial analytics creation, easy tracking of multiple projects expense and management of all project financial data from one platform. CRM features are also impressive, billing tools and the online …
Chose Workday Financial Management
Workday Financial Management has more advanced features and functionalities compared to it's alternative.
It is possible to streamline and automate complex financial processes with Workday Financial Management more effectively compared to it's alternative.
Chose Workday Financial Management
I have much less experience working with Salesforce finicial application. but as per my knowledge it also provides reboust features and one of the top competitor of its. Workday Financial Management need to improve more and more to sustain.
Chose Workday Financial Management
WFM is integrated with SSO, while others are not fully integrated. SAP Concur was used mostly for expense report management, while Deltek Costpoint was used for project time and cost management. Deltek was not very user-friendly, unreliable, and expensive for what it handled.
Chose Workday Financial Management
Workday is far superior to UKG. UKG felt cumbersome while being used, whereas Workday felt easy and intuitive. Workday allows for an easier flow of completing numerous everyday functions. I aim to integrate it into as many of my daily work routines as I can, reducing the time …
Chose Workday Financial Management
Workday Financial Management absolutely blows them out of the water. Hands down is the best choice. It’s the clear winner for all teams using it. It can change your employees lives and day to day software challenges to speed up and develop reports needed across departments.
Chose Workday Financial Management
The processing power of Workday Financial Management we much better. The other systems didn't run as fast when trying to look at the financials or running any of the various reports that we would need. It also has a cleaner view when looking at the details.
Chose Workday Financial Management
The application data of users in the case of PeopleSoft is stored in its proprietary data storage, whereas Workday Financial Management connects to outside databases to create analytics reports. Therefore, this option uplifts the need to use Workday Financial Management as an …
Chose Workday Financial Management
We went from PeopleSoft to Workday because of the efficiency and ease of use. There were a lot of limitations in PeopleSoft, just in simple things like character limits on fields that did not allow us to be as detailed. Workday Financial Management/Revenue Management has very …
Chose Workday Financial Management
The costs to implement Hyperion were astronomical comparted to Workday. Furthermore, the implementation timeline was probably a third of what we would have been looking at had we gone with Hyperion. Simply put, we got somewhere in the neighborhood of 90% of what we needed for …
Chose 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.
Chose Workday Financial Management
Stacking up it was a faster and more inexpensive implementation. Granted it was still early in the system development years, but the results and the five years of using it speak for themselves. Cloud we wanted, comprehensive financials was a core functional requirement and …
Chose Workday Financial Management
I miss using Workday Financial Managment, and if I moved departments or took on more responsibilities with the financials I would definitely recommend it!
Top Pros
Top Cons
Features
Workday Financial Management
Payroll Management
Comparison of Payroll Management features of Product A and Product B
Workday Financial Management
8.3
18 Ratings
14% above category average
Pay calculation8.418 Ratings
Benefit plan administration8.716 Ratings
Direct deposit files8.316 Ratings
Customization
Comparison of Customization features of Product A and Product B
Workday Financial Management
8.3
16 Ratings
13% above category average
API for custom integration8.314 Ratings
Plug-ins8.215 Ratings
Security
Comparison of Security features of Product A and Product B
Workday Financial Management
8.8
20 Ratings
8% above category average
Single sign-on capability8.720 Ratings
Role-based user permissions8.818 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
Workday Financial Management
8.5
23 Ratings
20% above category average
Dashboards8.423 Ratings
Standard reports8.820 Ratings
Custom reports8.418 Ratings
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
Workday Financial Management
8.5
19 Ratings
11% above category average
Accounts payable9.015 Ratings
Accounts receivable9.115 Ratings
Global Financial Support8.516 Ratings
Primary and Secondary Ledgers8.716 Ratings
Journals and Reconciliations8.813 Ratings
Configurable Accounting8.316 Ratings
Standardized Processes8.916 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
Workday Financial Management
8.7
9 Ratings
10% above category average
Inventory tracking9.09 Ratings
Automatic reordering8.69 Ratings
Location management8.68 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
Workday Financial Management
9.1
10 Ratings
16% above category average
Credit card processing9.110 Ratings
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User Ratings
Workday Financial Management
Likelihood to Recommend
8.6
(23 ratings)
Likelihood to Renew
9.0
(1 ratings)
Usability
9.4
(5 ratings)
Support Rating
9.6
(5 ratings)
User Testimonials
Workday Financial Management
Likelihood to Recommend
Workday
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.
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Pros
Workday
  • 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.
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Cons
Workday
  • 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
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Usability
Workday
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.
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Support Rating
Workday
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.
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Alternatives Considered
Workday
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.
Read full review
Return on Investment
Workday
  • 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.
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