Good for basics but you'll need add-ons to be effective.
April 14, 2025

Good for basics but you'll need add-ons to be effective.

Anonymous | TrustRadius Reviewer
Score 5 out of 10
Vetted Review
Verified User

Overall Satisfaction with Workday Financial Management

The main problem with Workday is that it nickel-and-dimes an organization for valuable features. We're a non-profit and can only afford the basics, but the basics don't cut it. This is fine for admin finance users who want to set budgets and coordinate expenses. However, the basic Workday is very cumbersome for employees managing a budget throughout the year. It provides no visibility into current budget spending other than reports that need to be run and are a pain to understand. It's not easy. And employee on/offboarding is likely another feature we would need to pay extra for, and we limp along and deal with it manually with many mistakes.

Pros

  • Secure logins supported (MFA, etc.)
  • Messaging for supported aspects to employees.
  • Home page information.

Cons

  • Ability to better customize business processes for expense reporting.
  • No dashboard insights into current budget areas...only reports.
  • No employee on/off boarding capabilities for management.
  • Cloud based.
  • Better management for expenses and financial information for the organization.
It's a nice, clean interface to work with, and the organization can customize it to alert employees to initiatives or things they need to be aware of.

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

No

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

No

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?

No

It is a decent tool for basic online/cloud financial management. However, its basics are very basic and won't really cover an organization's needs.

Workday Financial Management Feature Ratings

Accounts payable
2
Accounts receivable
2
Global Financial Support
5
Primary and Secondary Ledgers
2
Journals and Reconciliations
2
Configurable Accounting
2
Standardized Processes
4
Inventory tracking
3
Automatic reordering
3
Location management
3
Credit card processing
2
Pay calculation
6
Benefit plan administration
6
Direct deposit files
5
Dashboards
2
Standard reports
3
Custom reports
2
API for custom integration
7
Plug-ins
2
Role-based user permissions
8
Single sign-on capability
8
Not Rated

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