Simple and Intuitive solution
Workday Financial Management is used by our entire organization. We use it on a daily basis to track our working hours, paid time off, our …
Workday Financial Management/Revenue Management
Workday Financial Management/Revenue Management
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What is Workday Financial Management/Revenue Management?
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…
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- No setup fee
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- Free Trial
- Free/Freemium Version
- Premium Consulting / Integration Services
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Product Details
What is Workday Financial Management/Revenue Management?
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, Workday has delivered a single system that supports transaction processing, multidimensional reporting, consolidation, planning, and compliance—all using a consistent user experience accessible from desktop or mobile devices.
Key feature areas:
Accounting and Finance
Audit and Internal Controls
Revenue Management
Reporting and Analytics
Global Financial Reporting and Consolidation
Financial Planning
Projects
Expenses
Procurement
Inventory
Grants Management
Project Billing
Workday Financial Management/Revenue Management Features
General Ledger and Configurable Accounting Features
- Supported: Accounts payable
- Supported: Accounts receivable
- Supported: Global Financial Support
- Supported: Primary and Secondary Ledgers
- Supported: Intercompany Accounting
- Supported: Localizations
- Supported: Journals and Reconciliations
- Supported: Configurable Accounting
- Supported: Centralized Rules Framework
- Supported: Standardized Processes
Inventory Management Features
- Supported: Inventory tracking
- Supported: Automatic reordering
- Supported: Location management
Order Management Features
- Supported: Credit card processing
Payroll Management Features
- Supported: Pay calculation
- Supported: Benefit plan administration
- Supported: Direct deposit files
- Supported: Salary revision and increment management
- Supported: Reimbursement management
Reporting & Analytics Features
- Supported: Dashboards
- Supported: Standard reports
- Supported: Custom reports
Customization Features
- Supported: API for custom integration
- Supported: Plug-ins
Security Features
- Supported: Role-based user permissions
- Supported: Single sign-on capability
- Supported: Multi-factor authentication
- Supported: User-level audit trail
Workday Financial Management/Revenue Management Integrations
Workday Financial Management/Revenue Management Competitors
- Microsoft Dynamics 365 (formerly Microsoft Dynamics CRM)
- Oracle
- SAP
- Oracle NetSuite
Workday Financial Management/Revenue Management Technical Details
| Deployment Types | SaaS |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | Apple iOS, Android |
| Supported Countries | Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, India, Ireland, Japan, Luxembourg, Malaysia, Malta, Netherlands, New Zealand, Norway, Philippines, Portugal, Singapore, South Africa, Spain, Sweden, Switzerland, United Kingdom, U.S. |
| Supported Languages | English, French, Spanish, German, Chinese (Simplified), Italian, Portuguese, and Japanese |
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Frequently Asked Questions
What are Workday Financial Management/Revenue Management's top competitors?
Microsoft Dynamics 365 (formerly Microsoft Dynamics CRM), Xero, and QuickBooks Online Advanced are common alternatives for Workday Financial Management/Revenue Management.
What is Workday Financial Management/Revenue Management's best feature?
Reviewers rate Standard reports highest, with a score of 9.8.
Who uses Workday Financial Management/Revenue Management?
The most common users of Workday Financial Management/Revenue Management are from Enterprises and the Computer Software industry.
Reviews and Ratings
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July 10, 2019
Simple and Intuitive solution
Workday Financial Management is used by our entire organization. We use it on a daily basis to track our working hours, paid time off, our pay stubs and much more. It helps us stay on track by calculating the number of hours every employee works and when they hit their overtime. This, in turn, helps the company to avoid paying employees overtime and make sure that nobody gets overworked. All of the benefits are tracked via Workday as well. Any communication regarding requesting time off to rolling in new policies is all communicated via Workday.
- Workday is very organized and user friendly. I haven't heard this from any of my co workers that they faced a hard time navigating around or getting technical support.
- The platform offers variety of options for the company to offer to their employees. This includes easy access to their time off balance, hours they have worked, and accessing pay stubs any time.
- One of the biggest thing I notice on a lot of technical platforms is that they don't notify their users of any updates they may be making on their website but workday does a great job of notifying its user way ahead of time of any updates they may be doing
- 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
December 09, 2018
Workday Financial Management is a very solid and comprehensive system for a new organization to implement
It is being used in our five-year-old China affiliate organization, but not used globally. It is the base system for accounting, general ledger, accounts payable, accounts receivable, payroll, asset management, sub-ledgers and financial reporting / operations. It does address our need for an enterprise resource planning system to support the backbone of the company and its 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.
- We were surprised by the lack of user guides and supporting information for day-to-day users. Granted, we could find this, but our users like guides.
- The system could improve with contact help and chat functions if you need the answers quickly. We figured this would all have been built in.
- Quite surprised by the lack of treasury management functionality. SAP and Oracle have it, although their modules are not that comprehensive or user friendly.
April 10, 2017
Workday Financial Management makes it a good day
When I first started it, we were using Workday Financial Management mainly for financial planning and project management.
- I really liked being able to put together reports for my supervisor by using the financial planning tools. I was able to show our actuals which then allowed my boss to talk more easily with our accounting department to plan future budgets.
- 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.