Workday Financial Management

RATING:

4.38

(64)

What is Workday Financial Management?

Workday Financial Management is a single cloud-based solution that assists global businesses of all sizes in a variety of industry verticals with financial planning, accounting, and transactions. Workday delivers user and administrative tools across financials, HR, planning, talent, payroll, analytics, student, and more from a single system. Workday’s Financial Management solutions include accounting and finance, revenue management, reporting an...

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Workday Financial Management financial executive scorecard
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How much doesWorkday Financial Management Cost?

This vendor has not provided pricing information.

What Features doesWorkday Financial Management offer?

Top Workday Financial Management features and user ratings for each are:

Financial Reporting

4.2

(4)

General Ledger

4.0

(3)

Invoice Processing

4.7

(3)

Financial Management

4.3

(3)

Accounts Payable

3.3

(3)

Bank Reconciliation

3.3

(3)

Accounts Receivable

3.3

(3)

Access Controls/Permissions
ACH Payment Processing
Activity Dashboard
Aging Tracking
Alerts/Notifications
Audit Planning
Audit Trail

What Deployment Options doesWorkday Financial Management offer?

Workday Financial Management offers the following deployment options:

Cloud, SaaS, Web-Based

Workday Financial Management does not offer:

Windows (Desktop)
Chromebook (Desktop)
iPhone (Mobile)
Mac (Desktop)
Linux (Desktop)
Android (Mobile)
iPad (Mobile)
Windows (On-Premise)
Linux (On-Premise)

Workday Financial Management Reviews

Overall Rating

4.38

Ratings Breakdown

Secondary Ratings

Ease-of-use

4

Customer Support

4.5

Value for money

4

Functionality

4.5

Most Helpful Reviews for Workday Financial Management

1 - 5 of 62 Reviews

Anonymous

501-1,000 employees

More than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

Reviewed March 2022

Best cloud based financial management system

OVERALL RATING

5.0

EASE OF USE

5.0

VALUE FOR MONEY

5.0

CUSTOMER SUPPORT

5.0

FUNCTIONALITY

5.0

PROS

Easy to develop reports and less coding for developing integrations. User Interface is very good and dashboards are easy to develop and deploy

CONS

It won't allow much customization on the existing pages.

Reasons for switching to Workday Financial Management

Since it's cloud based

Anonymous

5,001-10,000 employees

More than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

Reviewed December 2019

Workday Financials Review

OVERALL RATING

4.0

EASE OF USE

3.0

VALUE FOR MONEY

5.0

CUSTOMER SUPPORT

5.0

FUNCTIONALITY

5.0

Pretty good, however the points addressed as dislikes should be addressed as it would make workday more robust

PROS

What I like is the reporting options available in the financials model. It allows us to reconcile grant spending within the award management team along with the depts as all data points are in Workday. Users with the report Writer role are able to construct their own reports and schedule output for specific users as needed. Everything from award creation to sponsor billing can be done from one system.

CONS

There are constraints regarding billing for sponsors on grants for expenses posting outside of award line dates if the company is using a different system for timekeeping. There are also no award or grant compliance checks in workday leaving compliance auditing at risk

Reasons for switching to Workday Financial Management

The old system was archaic and no longer able to be supported

Claudia

1 employee

Computer Software

Less than 2 years

Review Source: Capterra
This review was submitted organically. No incentive was offered

Reviewed December 2022

Workday Financial Management Review

OVERALL RATING

4.0

EASE OF USE

4.0

VALUE FOR MONEY

4.0

CUSTOMER SUPPORT

5.0

FUNCTIONALITY

4.0

Workday Financial Management integrates seamlessly with other Workday products, such as HCM and PPM. The software has great reporting capabilities. In addition, the software offers a range of security and compliance features in terms of data encryption and two-factor authentication, which help to provide greater security for sensitive information about your business operations.

PROS

The software is intuitive to use and I was able to create reports easily once I understand how the system works.

CONS

There is a learning curve to using the software when creating hierarchies for your chart of accounts before you can effectively create useful reports.

Rachel

5,001-10,000 employees

Insurance

More than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

Reviewed October 2018

Workday Review

OVERALL RATING

3.0

EASE OF USE

2.0

VALUE FOR MONEY

3.0

CUSTOMER SUPPORT

3.0

FUNCTIONALITY

3.0

I use workday to keep track of all my important company information. Overall I would say it's a good platform, but it needs some updating to make it more user friendly. Epically the time and absence widgets. I'm not a huge fan of how this program functions.

PROS

I like being able to access my personal information, my performance, my time, my benefits, etc. all in one location.

CONS

I don't like how difficult it is to track my time. We have a lock out every week and it is difficult to keep track of the hours I work. I usually have to write them down on a sticky note and transfer them back in once the lock out is over. Very inconvenient. I also don't like how I have to go to a different screen to include my absences like PTO or Maternity leave. It's been somewhat of a mess trying to keep track of al my hours and benefits.

Anonymous

10,000+ employees

More than 2 years

Review Source: Capterra
This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.

Reviewed April 2022

Slow and Not User Friendly

OVERALL RATING

4.0

EASE OF USE

3.0

CUSTOMER SUPPORT

2.0

FUNCTIONALITY

2.0

Accessing the specific reports is difficult as the user is required to remember several abbreviated name strings (fin acc manage...). When finally accessing the correct report, Workday is slow to load the report and a pop-up typically appears asking if the user would like to be notified when the report is available.

PROS

Some of the budget management reports allow users to drill down into specific line items/ spend categories. This feature is great for a quick refresher of recent expenses.

CONS

There are too many separate reports acting as silos. This often makes it difficult to see the full financial picture without multiple tabs or Excel downloads.