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Workday Financial Management vs IBM Cognos Analytics Comparison

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Overview

Category Leaders

Workday Financial Management is a web-based accounting and planning software that helps with strategic financial decisions...

IBM Cognos is a suite of business intelligence and performance management software, that includes dashboards, reports, forecasting,...

  • Platforms supported
  • Web-based
  • iPhone app
  • Android app
  • Windows Phone app
  • Typical customers
  • Freelancers
  • Small businesses
  • Mid size businesses
  • Large enterprises
  • Customer support
  • Phone
  • Online
  • Knowledge base
  • Video tutorials
  • Platforms supported
  • Web-based
  • iPhone app
  • Android app
  • Windows Phone app
  • Typical customers
  • Freelancers
  • Small businesses
  • Mid size businesses
  • Large enterprises
  • Customer support
  • Phone
  • Online
  • Knowledge base
  • Video tutorials

Video & Screenshots

Pricing

Starting from

1

Per year

  • Free trial available
  • Credit cardless trial
  • Free account
  • Subscription based

Starting from

10.60

/user

Per month

  • Free trial available
  • Credit cardless trial
  • Free account
  • Subscription based

User reviews

4.4

68

5

4

3

2

1

35

28

3

1

1

  • Value for money
  • Ease of use
  • Features
  • Customer support
93%
would recommend this app

4.2

139

5

4

3

2

1

54

63

17

2

3

  • Value for money
  • Ease of use
  • Features
  • Customer support
93%
would recommend this app

Pros

Workday does an amazing job with a great interface allowing the user to easily learn the system while not sacrificing the work being done. Easy, affordable, maintainable.
Overall experience with Workday Financial Management has been fantastic. Great capabilities that can integrate very well with other Workday modules.
I really like workday for the ease of use, but also has a excellent interface to navigate all the features it provides with simple clicks.

Pros

Combined with a proper balance between ease of use and customization when developing and an affordable licensing model, Cognos was a superb choice.
I love working with this tool from IBM. It allows some SQL language, and some configuration features that are very good too.
The best thing is "Quality reports can be run at any time and by any representative with a substantial log-in " at IBM Cognos Analytics.

Cons

We have also had some issues with invoices getting lost in the system and had to recreate them in order to get them to process.
In case where connections are not strong and secure, it can be difficult to access. In case wrong and corrupted data is fed, the reports will be inaccurate as it relies on the information fed to it.
Hard to learn at first- errors pop up at times.

Cons

The space usage for this software is to high. The IBM Windows services is slow on startup and service errors can be very difficult to diagnose due to bad log structure or description.
When we actually have information about the errors, this is also not very detailed, that is, we are left without knowing what the error is anyway.
There are not helpful troubleshooting messages to help you correct errors, so it can get really frustrating if you get stuck and don't have a team to support you.
  • Vendor responds to reviews
  • Last review2 months ago
  • Vendor responds to reviews
  • Last review3 months ago

Key features

  • Total features143
  • "What If" Scenarios
  • ACH Payment Processing
  • API
  • Access Controls/Permissions
  • Accounting
  • Accounts Payable
  • Accounts Receivable
  • Activity Dashboard
  • Activity Tracking
  • Ad hoc Reporting
  • Aging Tracking
  • Alerts/Notifications
  • Approval Process Control
  • Audit Management
  • Audit Planning
  • Audit Trail
  • Automatic Billing
  • Bank Reconciliation
  • Benchmarking
  • Billing & Invoicing
  • Budget Management
  • Budgeting/Forecasting
  • CPA Firms
  • CRM
  • Cash Flow Analysis
  • Cash Flow Management
  • Cash Management
  • Check Processing
  • Check Writing
  • Collaboration Tools
  • Commenting/Notes
  • Commission Management
  • Compliance Management
  • Consolidation/Roll-Up
  • Contract Drafting
  • Contract/License Management
  • Core Accounting
  • Currency Management
  • Customer Statements
  • Customizable Branding
  • Customizable Dashboard
  • Customizable Invoices
  • Customizable Reports
  • Customizable Rules
  • Customizable Templates
  • Dashboard
  • Dashboard Creation
  • Data Aggregation
  • Data Blending
  • Data Cleansing
  • Data Connectors
  • Data Discovery
  • Data Extraction
  • Data Import/Export
  • Data Management
  • Data Mapping
  • Data Mining
  • Data Quality Control
  • Data Synchronization
  • Data Transformation
  • Data Visualization
  • Distribution Management
  • Document Management
  • Drag & Drop
  • Duplicate Payment Alert
  • Dynamic Pricing
  • ERP integration
  • Electronic Funds Transfer
  • Enterprise Asset Management
  • Expense Claims
  • Expense Management
  • Expense Tracking
  • Financial Analysis
  • Financial Management
  • Financial Reporting
  • Fixed Asset Management
  • For Government
  • For Grantmakers
  • For Hospitality Industry
  • For Real Estate
  • For Small Businesses
  • Forecasting
  • Fraud Detection
  • Functions/Calculations
  • Fund Accounting
  • Gantt/Timeline View
  • General Ledger
  • Grant Application Management
  • Grant Award Tracking
  • HR Management
  • High Volume Processing
  • Income & Balance Sheet
  • Integrated Business Operations
  • Interactive Elements
  • Interactive Reports
  • Inventory Control
  • Inventory Management
  • Investment Management
  • Invoice Creation
  • Invoice History
  • Invoice Management
  • Invoice Processing
  • KPI Monitoring
  • Key Performance Indicators
  • Marketing Reports
  • Metadata Management
  • Mobile Access
  • Mobile App
  • Mobile Dashboards
  • Multi-Company
  • Multi-Currency
  • Multi-Language
  • Multiple Data Sources
  • Natural Language Processing
  • Natural Language Search
  • Nonprofits
  • OLAP
  • Online Invoicing
  • Online Payments
  • Order Management
  • Overpayment Processing
  • Partial Payments
  • Payment Collection
  • Payroll Management
  • Performance Metrics
  • Planning Tools
  • Portfolio Management
  • Predictive Analytics
  • Price Optimization
  • Price and Cost Calculations
  • Private Dashboards
  • Procurement Management
  • Product Configurator
  • Profit/Loss Statement
  • Profitability Analysis
  • Progress Tracking
  • Project Accounting
  • Project Billing
  • Project Management
  • Proposal Generation
  • Public Dashboards
  • Publishing/Sharing
  • Purchase Order Management
  • Purchasing & Receiving
  • Quotes/Estimates
  • Real-Time Analytics
  • Real-Time Data
  • Real-Time Monitoring
  • Real-Time Notifications
  • Real-Time Reporting
  • Real-Time Updates
  • Receipt Management
  • Receivables Ledger
  • Reimbursement Management
  • Relational Display
  • Remote Access/Control
  • Reporting & Statistics
  • Reporting/Analytics
  • Requisition Management
  • Resource Management
  • Revenue Management
  • Revenue Recognition
  • Risk Analysis
  • Risk Assessment
  • Risk Management
  • Role-Based Permissions
  • Rules-Based Workflow
  • Sales Reports
  • Scheduled/Automated Reports
  • Scorecards
  • Search/Filter
  • Secure Data Storage
  • Self Service Data Preparation
  • Single Page View
  • Single Sign On
  • Spend Analysis
  • Spend Control
  • Status Tracking
  • Strategic Planning
  • Supplier Management
  • Supply Chain Management
  • Task Management
  • Tax Management
  • Template Management
  • Text Analysis
  • Third-Party Integrations
  • Time & Expense Tracking
  • Transaction History
  • Transaction Management
  • Trend Analysis
  • Trend/Problem Indicators
  • Vendor Management
  • Visual Analytics
  • Visualization
  • Widgets
  • Workflow Management
  • Yield Management
  • Total features75
  • "What If" Scenarios
  • ACH Payment Processing
  • API
  • Access Controls/Permissions
  • Accounting
  • Accounts Payable
  • Accounts Receivable
  • Activity Dashboard
  • Activity Tracking
  • Ad hoc Reporting
  • Aging Tracking
  • Alerts/Notifications
  • Approval Process Control
  • Audit Management
  • Audit Planning
  • Audit Trail
  • Automatic Billing
  • Bank Reconciliation
  • Benchmarking
  • Billing & Invoicing
  • Budget Management
  • Budgeting/Forecasting
  • CPA Firms
  • CRM
  • Cash Flow Analysis
  • Cash Flow Management
  • Cash Management
  • Check Processing
  • Check Writing
  • Collaboration Tools
  • Commenting/Notes
  • Commission Management
  • Compliance Management
  • Consolidation/Roll-Up
  • Contract Drafting
  • Contract/License Management
  • Core Accounting
  • Currency Management
  • Customer Statements
  • Customizable Branding
  • Customizable Dashboard
  • Customizable Invoices
  • Customizable Reports
  • Customizable Rules
  • Customizable Templates
  • Dashboard
  • Dashboard Creation
  • Data Aggregation
  • Data Blending
  • Data Cleansing
  • Data Connectors
  • Data Discovery
  • Data Extraction
  • Data Import/Export
  • Data Management
  • Data Mapping
  • Data Mining
  • Data Quality Control
  • Data Synchronization
  • Data Transformation
  • Data Visualization
  • Distribution Management
  • Document Management
  • Drag & Drop
  • Duplicate Payment Alert
  • Dynamic Pricing
  • ERP integration
  • Electronic Funds Transfer
  • Enterprise Asset Management
  • Expense Claims
  • Expense Management
  • Expense Tracking
  • Financial Analysis
  • Financial Management
  • Financial Reporting
  • Fixed Asset Management
  • For Government
  • For Grantmakers
  • For Hospitality Industry
  • For Real Estate
  • For Small Businesses
  • Forecasting
  • Fraud Detection
  • Functions/Calculations
  • Fund Accounting
  • Gantt/Timeline View
  • General Ledger
  • Grant Application Management
  • Grant Award Tracking
  • HR Management
  • High Volume Processing
  • Income & Balance Sheet
  • Integrated Business Operations
  • Interactive Elements
  • Interactive Reports
  • Inventory Control
  • Inventory Management
  • Investment Management
  • Invoice Creation
  • Invoice History
  • Invoice Management
  • Invoice Processing
  • KPI Monitoring
  • Key Performance Indicators
  • Marketing Reports
  • Metadata Management
  • Mobile Access
  • Mobile App
  • Mobile Dashboards
  • Multi-Company
  • Multi-Currency
  • Multi-Language
  • Multiple Data Sources
  • Natural Language Processing
  • Natural Language Search
  • Nonprofits
  • OLAP
  • Online Invoicing
  • Online Payments
  • Order Management
  • Overpayment Processing
  • Partial Payments
  • Payment Collection
  • Payroll Management
  • Performance Metrics
  • Planning Tools
  • Portfolio Management
  • Predictive Analytics
  • Price Optimization
  • Price and Cost Calculations
  • Private Dashboards
  • Procurement Management
  • Product Configurator
  • Profit/Loss Statement
  • Profitability Analysis
  • Progress Tracking
  • Project Accounting
  • Project Billing
  • Project Management
  • Proposal Generation
  • Public Dashboards
  • Publishing/Sharing
  • Purchase Order Management
  • Purchasing & Receiving
  • Quotes/Estimates
  • Real-Time Analytics
  • Real-Time Data
  • Real-Time Monitoring
  • Real-Time Notifications
  • Real-Time Reporting
  • Real-Time Updates
  • Receipt Management
  • Receivables Ledger
  • Reimbursement Management
  • Relational Display
  • Remote Access/Control
  • Reporting & Statistics
  • Reporting/Analytics
  • Requisition Management
  • Resource Management
  • Revenue Management
  • Revenue Recognition
  • Risk Analysis
  • Risk Assessment
  • Risk Management
  • Role-Based Permissions
  • Rules-Based Workflow
  • Sales Reports
  • Scheduled/Automated Reports
  • Scorecards
  • Search/Filter
  • Secure Data Storage
  • Self Service Data Preparation
  • Single Page View
  • Single Sign On
  • Spend Analysis
  • Spend Control
  • Status Tracking
  • Strategic Planning
  • Supplier Management
  • Supply Chain Management
  • Task Management
  • Tax Management
  • Template Management
  • Text Analysis
  • Third-Party Integrations
  • Time & Expense Tracking
  • Transaction History
  • Transaction Management
  • Trend Analysis
  • Trend/Problem Indicators
  • Vendor Management
  • Visual Analytics
  • Visualization
  • Widgets
  • Workflow Management
  • Yield Management

Integrations

  • Total integrations83
  • Dynamics 365
  • Dynamics 365 Business Central
  • FreshBooks
  • HubSpot CRM
  • Microsoft Excel
  • Microsoft Outlook
  • NetSuite
  • PayPal
  • Plaid
  • QuickBooks Online
  • QuickBooks Online Advanced
  • Sage Intacct
  • Salesforce Sales Cloud
  • Shopify
  • Slack
  • Stripe
  • WooCommerce
  • Xero
  • Zapier
  • authorize.net
  • Total integrations16
  • Dynamics 365
  • Dynamics 365 Business Central
  • FreshBooks
  • HubSpot CRM
  • Microsoft Excel
  • Microsoft Outlook
  • NetSuite
  • PayPal
  • Plaid
  • QuickBooks Online
  • QuickBooks Online Advanced
  • Sage Intacct
  • Salesforce Sales Cloud
  • Shopify
  • Slack
  • Stripe
  • WooCommerce
  • Xero
  • Zapier
  • authorize.net

Alternatives

Explore similar apps

Longview Tax
Spreadsheet Server
Certent Equity Management

User reviews that mention these apps

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Amy Rose G.

Information Technology and Services, 10,001+ employees

Used weekly for 1-2 years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

Share this review:

Workday Financial Management logo

Workday Financial Management

Amazing, Unlike Any Other

Reviewed 7 years ago
Pros

- Easy to use - Mobility - Analytics - Dashboards - Reporting - Extremely Self Serving - Amazing Ecosystem

Cons

No cons were added to this review

HK
AvatarImg

Hemant K.

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support

Share this review:

Workday Financial Management logo

Workday Financial Management

One tool to provide all finance related detail.

Reviewed 7 years ago

It provides complete transnational efficiency and control. Very good tool for accounting, consolidation, planning, procurement, projects, reporting, and analytics.

Pros

No pros were added to this review

Cons

No cons were added to this review

PL
AvatarImg

Phil L.

Oil & Energy, 1,001-5,000 employees

Used weekly for 2+ years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

Share this review:

IBM Cognos Analytics logo

IBM Cognos Analytics

IBM Cognos Analytics 11

Reviewed a year ago

Cognos Analytics is currently meeting our financial and operational reporting needs.

Pros

We like the ability to create custom reports to meet user requirements. This includes being able to link data coming from databases using Cognos Framework Manager, plus the ability to create SQL select queries within Cognos that pull data directly from custom SQL objects. We also appreciate that Cognos Analytics still supports the use of Portals that we created in a previous version of the product. Other features that we appreciate are Bursting, Conditional Styling and Rendering, Exports to Excel and PDF, and drill-through reports, to name a few.

Cons

Crosstabs could use more features and provide more flexibility in formatting.

KS
AvatarImg

Kristin S.

Used daily for 2+ years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support

Share this review:

IBM Cognos Analytics logo

IBM Cognos Analytics

Cognos is a very easy to use application for most areas of the business's finances

Reviewed 7 years ago
Pros

Easy to use, easily connects to many ERP softwares. Houses budgeting and planning, financial reporting and dashboarding and metrics all in one suite.

Cons

Requires in-house administration, is not an out of the box software and requires monthly maintenance on the reports and the planning applications.

AR
AvatarImg

Alvaro R.

Management Consulting, 11-50 employees

Used daily for 2+ years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

Share this review:

IBM Cognos Analytics logo

IBM Cognos Analytics

The best software for business forecasts with functionalities for creating scenarios and sandboxes for each user.

Reviewed 7 years ago

TM1 allows you to build business models that display online results available to all authorized users of the organization.

Pros

IBM Cognos TM1 facilitates the creation of business models with the participation and contribution of users throughout the organization regardless of their physical location. TM1 is a enterprise-level platform that allows an integral, flexible, rigorous and perfect control over the users that contribute with the creation of the budget. It allows building multidimensional models that incorporate the business rules that govern the financial processes of the company.

Cons

IBM Cognos TM1 needs to train personnel to administer the platform. The construction of the models requires specialized IT staff. The cost of the licenses is for medium and large companies.

pr
AvatarImg

pavan r.

Information Technology and Services, 51-200 employees

Used daily for 2+ years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend6/10

Share this review:

IBM Cognos Analytics logo

IBM Cognos Analytics

Cognos - A good Enterprise Reporting Tool

Reviewed 8 years ago

I used Cognos as an analytical tool by linking our ERP (Microsoft Dynamic NAV) to it. All the financial data would be mapped & a lot of customized reports were taken out like Earnings before interest, tax, depreciation and amortization (EBITDA). The user interface is pretty good. The CUBEs are little confusing but once you get the grip they work very well. The ability to drill down the reports to very basic level is a plus point A little tough to learn & customize. It's a little slow when dealing with a medium amount of data.

Pros

Easily integrating with most of the ERPs, very good for customizing reports, very detailed reporting

Cons

Tough to learn & not many resources available, you will get the value of the money invested in it only if you are able to get the most out of it

LG
AvatarImg

Letizia G.

Management Consulting, 5,001-10,000 employees

Used daily for 2+ years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

Share this review:

IBM Cognos Analytics logo

IBM Cognos Analytics

Dati a supporto del Business

Reviewed a year ago

All’interno di alcuni istituti bancari, in qualità di consulente, mi sono ritrovata ad utilizzare IBM Cognos Analytics al fine di monitorare la redditività di alcune branch della banca, individuare zone di miglioramento e definire le azioni da intraprendere per aumentare la redditività in base alle analisi dei dati. In particolare il software è stato utile per monitorare i KPI di ogni brand dell’istituto,...

Pros

IBM Cognos Analytics è una soluzione di Business Intelligence, basata sul cloud, che grazie alle funzioni Self Service permette ai reparti business di un azienda, solitamente composti da soggetti non tecnici, di accedere ai dati ed effettuare sugli stessi semplici, ma efficaci, analisi e creare report personalizzati di dettaglio. In linea generale Cognos Analytics, il quale è in grado di connettersi a diverse tipologie di database, permette di pulire i dati e crearne dei modelli utili ad implementare report o dashboard. I report e le dashboard interattive presentano un elevato grado di personalizzazione e risultano semplici da creare mediante funzioni di drag & drop. In tal modo i report business di un azienda possono monitorare i KPI e prendere decisioni informati sui dati.

Cons

IBM Cognos Analytics consente di effettuare, tendenzialmente, semplici analisi dei dati. Per andare maggiormente in profondità è necessario integrarlo con altri prodotti IBM, come IBM Watson Studio, con relativo incremento del costo delle licenze per le aziende.

Showing original review in Italian. See translation