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Accountant
March 22, 2024

Accountant

Jason Levy | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Workday Financial Management

We use Workday for numerous functions. We find it super helpful as an HRIS, as it helps us manage our people, culture, and talent attraction functions. The system helps address business problems, namely housing employee documentation, licensing, and other important data. We also use the enterprise resource planning function.
  • Talent Management.
  • Real Time Reporting.
  • Analytics
  • I love a workflow, so I always encourage the incorporation of as many workflows as possible!
  • The reporting function could be a bit more appealing (visually.)
  • The same goes for the analytics function.
  • Workday has had a significant impact on our business's bottom line. Since instituting Workday, we have seen a 31% reduction in accounts payable outstanding year over year.
  • Thanks to Workdays' payroll reporting function, we have reduced the premium "combat" pay we offer our medical providers by 13%.
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 required in each area.

Do you think Workday Financial Management delivers good value for the price?

Yes

Are you happy with Workday Financial Management's feature set?

Yes

Did Workday Financial Management live up to sales and marketing promises?

Yes

Did implementation of Workday Financial Management go as expected?

Yes

Would you buy Workday Financial Management again?

Yes

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.

Workday Financial Management Feature Ratings

9.1
Accounts payable
10
Accounts receivable
10
Global Financial Support
9
Primary and Secondary Ledgers
9
Journals and Reconciliations
9
Configurable Accounting
9
Standardized Processes
8
Subledger and Financial Process ()
Not Rated
8.0
Inventory tracking
8
Automatic reordering
8
Location management
8
8.0
Credit card processing
8
7.0
Pay calculation
7
Benefit plan administration
7
Direct deposit files
7
8.7
Dashboards
9
Standard reports
8
Custom reports
9
9.0
API for custom integration
9
Plug-ins
9
9.5
Role-based user permissions
9
Single sign-on capability
10
Grants Management ()
Not Rated
Project Financial Management ()
Not Rated
Project Execution Management ()
Not Rated
Procurement ()
Not Rated
Risk Management ()
Not Rated
Logistics ()
Not Rated
Manufacturing ()
Not Rated
Supply Chain ()
Not Rated
Product Lifecycle Management ()
Not Rated

Using Workday Financial Management

  • HRIS/Talent Attraction.
  • Budgeting
  • Time Keeping
  • For great HRIS functionality.
  • Time Keeping.
  • Budget Creation.
  • We might be able to use additional functionality not yet explored.

Evaluating Workday Financial Management and Competitors

Yes - We replaced UKG Ready with Workday. It has been a "breath of fresh air" using Workday. Unlike UKG, Workday is easy to use and intuitive. It allows for a reduction in processing time, opening up opportunities to focus on other administrative/finance-related matters that hit my desk on the regular.
  • Cloud Solutions
  • Integration with Other Systems
  • Ease of Use
Ease of use is most certainly the single most important factor in my decision. The ease of use is the main selling point of the product, as other similar systems have been difficult to learn. For example, UKG Ready requires the setup of numerous cost centers, which are not intuitive and easily understandable.
I am happy with the Workday selection. It has been the best decision our company has made, and if I could go back, I would have implemented Workday sooner. I would not change my evaluation & selection process in the slightest. Moving off of old/antiquated systems was a breeze.

Workday Financial Management Support

I have found Workdays' customer support to be top-notch. Between the e-mails and phone calls I have made to the company, I have seen excellent service. There has been regular follow-up as warranted, and this is welcome. While I prefer not to need to contact support when it is required, it has been a pleasant experience.
ProsCons
Quick Resolution
Knowledgeable team
Problems get solved
Kept well informed
No escalation required
Immediate help available
Support understands my problem
Support cares about my success
Quick Initial Response
Poor followup
We did not purchase premium support, as we decided to try regular support first. Thus far, the regular support has been super helpful. Therefore, we have found no need (currently) for premium support. There may be a need for this type of support in the future, and we will continue to consider it for our needs.
Each time I have called Workday, I have received exceptional support, which has left me with a positive impression of the company and its team members.

Using Workday Financial Management

I give it this rating because I've found Workday super easy to use. It is very intuitive and simple for a "lay person" like myself. It feels as if it was created to avoid the confusion that similar systems produce.
ProsCons
Like to use
Relatively simple
Easy to use
Technical support not required
Well integrated
Consistent
Quick to learn
Convenient
Feel confident using
Familiar
None