Workday Financial Management vs. Workday Professional Services Automation

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
Workday Professional Services Automation
Score 8.2 out of 10
N/A
Workday offers their cloud-based Professional Services Automation (PSA) platform, meant as an all-encompassing platform but emphasizing centralized data and data projections as well as tools to optimize resource allocation (and hiring), and track revenue along with project portfolio health indicators.N/A
Pricing
Workday Financial ManagementWorkday Professional Services Automation
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
Workday Financial ManagementWorkday Professional Services Automation
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Community Pulse
Workday Financial ManagementWorkday Professional Services Automation
Top Pros
Top Cons
Features
Workday Financial ManagementWorkday Professional Services Automation
Payroll Management
Comparison of Payroll Management features of Product A and Product B
Workday Financial Management
8.3
18 Ratings
14% above category average
Workday Professional Services Automation
-
Ratings
Pay calculation8.418 Ratings00 Ratings
Benefit plan administration8.716 Ratings00 Ratings
Direct deposit files8.316 Ratings00 Ratings
Customization
Comparison of Customization features of Product A and Product B
Workday Financial Management
8.3
16 Ratings
13% above category average
Workday Professional Services Automation
-
Ratings
API for custom integration8.314 Ratings00 Ratings
Plug-ins8.215 Ratings00 Ratings
Security
Comparison of Security features of Product A and Product B
Workday Financial Management
8.8
20 Ratings
8% above category average
Workday Professional Services Automation
-
Ratings
Single sign-on capability8.720 Ratings00 Ratings
Role-based user permissions8.818 Ratings00 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
Workday Professional Services Automation
-
Ratings
Dashboards8.423 Ratings00 Ratings
Standard reports8.820 Ratings00 Ratings
Custom reports8.418 Ratings00 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
Workday Professional Services Automation
-
Ratings
Accounts payable9.015 Ratings00 Ratings
Accounts receivable9.115 Ratings00 Ratings
Global Financial Support8.516 Ratings00 Ratings
Primary and Secondary Ledgers8.716 Ratings00 Ratings
Journals and Reconciliations8.813 Ratings00 Ratings
Configurable Accounting8.316 Ratings00 Ratings
Standardized Processes8.916 Ratings00 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
Workday Professional Services Automation
-
Ratings
Inventory tracking9.09 Ratings00 Ratings
Automatic reordering8.69 Ratings00 Ratings
Location management8.68 Ratings00 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
Workday Professional Services Automation
-
Ratings
Credit card processing9.110 Ratings00 Ratings
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User Ratings
Workday Financial ManagementWorkday Professional Services Automation
Likelihood to Recommend
8.6
(23 ratings)
8.2
(25 ratings)
Likelihood to Renew
9.0
(1 ratings)
-
(0 ratings)
Usability
9.5
(5 ratings)
6.0
(1 ratings)
Support Rating
9.6
(5 ratings)
5.0
(1 ratings)
User Testimonials
Workday Financial ManagementWorkday Professional Services Automation
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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Workday
If you are a company with very little administrative or IT staff that can be dedicated to run, train, and launch - this is the perfect tool for you because it requires very little on the set up end and training. It looks like a social network so a platform many are already used to seeing. Its definitely a very powerful product with an easy interface, providing a stellar customer experience
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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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Workday
  • Consolidated data resource. Allows Workday to be the authority for pay and benefits.
  • Advanced automation for administrators.
  • Self-serve for employees. Allows users to self manage their information.
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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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Workday
  • Would like to be able to use it for clocking in and out
  • The dashboard user interface could be improved to include more pertinent information
  • Would be nice to hide features that we use other applications for (i.e. org chart, pay, expenses)
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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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Workday
Its getting more streamlined with update but still has many tools that are unexplained/ not defined well
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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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Workday
With workday support options, I would like to see a more immediately responsive response option. Possibly a chat or a responsive email response team would be helpful.
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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.
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Workday
I was not on the selection team for Workday Profession Services Automation; it was the HR system used by our parent company. However, I have had several opportunities to work with Workday in other HR roles, and have also worked extensively with Oracle products. Workday Professional Services Automation seems more dynamic than the Oracle Suite I've utilized in the past.
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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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Workday
  • All in one platform great for businesses with locations across the country
  • We don’t use its learning/training features, or it doesn’t have, which would be nice
  • Reporting features are extensive and, though can be hard to figure out, there is clearly great capability there
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ScreenShots