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Workday Financial Management vs Tipalti 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...

Category Leaders

Tipalti automates your entire supplier payments operation for accounts payable organizations. Power international payments,...

  • 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

ic-pricetag

No pricing info

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

Starting from

149

Per month

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

User reviews

4.4

64

5

4

3

2

1

32

27

3

1

1

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

4.7

107

5

4

3

2

1

73

32

1

1

0

  • Value for money
  • Ease of use
  • Features
  • Customer support
99%
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 love how user friendly it is. You can find anything and everything with ease.

Pros

The software does what it promises and has been a great asset to our business model.
Allows an easy approval of PRs with a friendly and fast UI that provides all the context I need for approval.
Excellent Customer Support, I'd rank it among the best. You can actually CALL them.

Cons

Hard to learn at first- errors pop up at times.
My overall experience with Workday is sometimes frustrating since I cannot get the reports I need to do my job.
Employees will accept having to use Workday to manage their taxes, etc. I'm not aware of an alternative for large companies. It will, however, be a perpetual pain point for employees.

Cons

The most issue of this is that lack of immediate images , so users are unable to generate their own check image to examine.
Weve been using it for so many years and we have no intention in switching to a different software.
The only downside is the reconciliation report can be a bit difficult to work with in terms of bank reconciliations, etc.
  • Vendor responds to reviews
  • Last review2 months ago
  • Vendor responds to reviews
  • Last review15 days ago

Key features

  • Total features112
  • "What If" Scenarios
  • 1099 Preparation
  • ACH Payment Processing
  • API
  • Access Controls/Permissions
  • Accounting
  • Accounting Integration
  • Accounts Payable
  • Accounts Receivable
  • Activity Dashboard
  • Activity Monitoring
  • Activity Tracking
  • Affiliate Management
  • Agency Commission
  • Aging Tracking
  • Alerts/Escalation
  • Alerts/Notifications
  • Application Management
  • Approval Process Control
  • Audit Management
  • Audit Planning
  • Audit Trail
  • Automatic Billing
  • Bank Reconciliation
  • Billing & Invoicing
  • Billing Portal
  • Budget Control
  • Budget Management
  • Budgeting/Forecasting
  • CPA Firms
  • CRM
  • Cash Flow Analysis
  • Cash Flow Management
  • Cash Management
  • Check Processing
  • Check Writing
  • Client Portal
  • Collaboration Tools
  • Commenting/Notes
  • Commission Management
  • Commission Scheduling
  • Compliance Management
  • Compliance Tracking
  • Configurable Workflow
  • Consolidation/Roll-Up
  • Content Management
  • Contract/License Management
  • Controls Audit
  • Core Accounting
  • Currency Management
  • Customer Statements
  • Customizable Invoices
  • Customizable Reports
  • Dashboard
  • Data Capture and Transfer
  • Data Extraction
  • Data Import/Export
  • Data Management
  • Data Mapping
  • Data Security
  • Data Synchronization
  • Data Visualization
  • Debit/Credit Card Processing
  • Discount Management
  • Distribution Management
  • Document Management
  • Document Storage
  • Duplicate Detection
  • Duplicate Payment Alert
  • ERP
  • Electronic Funds Transfer
  • Electronic Payments
  • Electronic Signature
  • Email Reminders
  • Email/Online
  • Enterprise Asset Management
  • Entity Data Management
  • Expense Claims
  • Expense Management
  • Expense Tracking
  • FACTA Red Flags
  • File Sharing
  • Financial Analysis
  • Financial Management
  • Financial Reporting
  • Financial Transaction Approval
  • Fixed Asset Management
  • Flat Commissions
  • For Government
  • For Grantmakers
  • For Hedge Funds
  • For Money Exchanges
  • For Nonprofits
  • For Real Estate
  • For Restaurants
  • For Small Businesses
  • Forecasting
  • Foreign Exchange Risks
  • Fraud Detection
  • Fund Accounting
  • Gantt/Timeline View
  • General Ledger
  • Grant Application Management
  • Grant Award Tracking
  • HR Management
  • Income & Balance Sheet
  • Integrated Business Operations
  • Inventory Management
  • Investment Management
  • Invoice Creation
  • Invoice History
  • Invoice Management
  • Invoice Processing
  • Mobile Access
  • Mobile App
  • Mobile Payments
  • Multi Level Marketing (MLM)
  • Multi-Company
  • Multi-Currency
  • Multi-Language
  • Multiple Payment Options
  • Nonprofits
  • Onboarding
  • Online Invoicing
  • Online Payments
  • Order Management
  • Overpayment Processing
  • PCI Compliance
  • PO Reconciliation
  • Paired Currency Comparison
  • Partial Payments
  • Payment Collection
  • Payment Fraud Prevention
  • Payment Processing
  • Payment Processing Services Integration
  • Payroll Management
  • Percentage Commissions
  • Planning Tools
  • Point of Sale (POS)
  • Policy Management
  • Portfolio Management
  • Position Management
  • Price Guarantee
  • Procurement Management
  • Profit/Loss Statement
  • Progress Tracking
  • Project Accounting
  • Project Management
  • Proposal Generation
  • Purchase Order Management
  • Purchasing & Receiving
  • QuickBooks Integration
  • Real Time Analytics
  • Real Time Data
  • Real Time Monitoring
  • Real Time Reporting
  • Real-Time Chat
  • Receivables Ledger
  • Receiving/Putaway Management
  • Recurring Invoicing
  • Recurring/Subscription Billing
  • Reminders
  • Reporting & Statistics
  • Reporting/Analytics
  • Request Assignment
  • Requisition Management
  • Resource Management
  • Revenue Recognition
  • Risk Analytics
  • Risk Assessment
  • Risk Management
  • Rules-Based Workflow
  • Search/Filter
  • Self Service Portal
  • Sliding Scale Commissions
  • Sourcing Management
  • Spend Control
  • Spend Management
  • Split Commissions
  • Status Tracking
  • Supplier Management
  • Supply Chain Management
  • Supports Multiple Investors
  • Task Management
  • Tax Calculation
  • Tax Compliance
  • Tax Management
  • Template Management
  • Third Party Integrations
  • Tiered Commissions
  • Time & Expense Tracking
  • Trade Confirmations
  • Transaction History
  • Transaction Management
  • Transaction Monitoring
  • Transcripts/Chat History
  • Two-Factor Authentication
  • User Management
  • Vendor Management
  • Vendor Master Data Management
  • Vendor Payment
  • Visualization
  • Workflow Management
  • Total features139
  • "What If" Scenarios
  • 1099 Preparation
  • ACH Payment Processing
  • API
  • Access Controls/Permissions
  • Accounting
  • Accounting Integration
  • Accounts Payable
  • Accounts Receivable
  • Activity Dashboard
  • Activity Monitoring
  • Activity Tracking
  • Affiliate Management
  • Agency Commission
  • Aging Tracking
  • Alerts/Escalation
  • Alerts/Notifications
  • Application Management
  • Approval Process Control
  • Audit Management
  • Audit Planning
  • Audit Trail
  • Automatic Billing
  • Bank Reconciliation
  • Billing & Invoicing
  • Billing Portal
  • Budget Control
  • Budget Management
  • Budgeting/Forecasting
  • CPA Firms
  • CRM
  • Cash Flow Analysis
  • Cash Flow Management
  • Cash Management
  • Check Processing
  • Check Writing
  • Client Portal
  • Collaboration Tools
  • Commenting/Notes
  • Commission Management
  • Commission Scheduling
  • Compliance Management
  • Compliance Tracking
  • Configurable Workflow
  • Consolidation/Roll-Up
  • Content Management
  • Contract/License Management
  • Controls Audit
  • Core Accounting
  • Currency Management
  • Customer Statements
  • Customizable Invoices
  • Customizable Reports
  • Dashboard
  • Data Capture and Transfer
  • Data Extraction
  • Data Import/Export
  • Data Management
  • Data Mapping
  • Data Security
  • Data Synchronization
  • Data Visualization
  • Debit/Credit Card Processing
  • Discount Management
  • Distribution Management
  • Document Management
  • Document Storage
  • Duplicate Detection
  • Duplicate Payment Alert
  • ERP
  • Electronic Funds Transfer
  • Electronic Payments
  • Electronic Signature
  • Email Reminders
  • Email/Online
  • Enterprise Asset Management
  • Entity Data Management
  • Expense Claims
  • Expense Management
  • Expense Tracking
  • FACTA Red Flags
  • File Sharing
  • Financial Analysis
  • Financial Management
  • Financial Reporting
  • Financial Transaction Approval
  • Fixed Asset Management
  • Flat Commissions
  • For Government
  • For Grantmakers
  • For Hedge Funds
  • For Money Exchanges
  • For Nonprofits
  • For Real Estate
  • For Restaurants
  • For Small Businesses
  • Forecasting
  • Foreign Exchange Risks
  • Fraud Detection
  • Fund Accounting
  • Gantt/Timeline View
  • General Ledger
  • Grant Application Management
  • Grant Award Tracking
  • HR Management
  • Income & Balance Sheet
  • Integrated Business Operations
  • Inventory Management
  • Investment Management
  • Invoice Creation
  • Invoice History
  • Invoice Management
  • Invoice Processing
  • Mobile Access
  • Mobile App
  • Mobile Payments
  • Multi Level Marketing (MLM)
  • Multi-Company
  • Multi-Currency
  • Multi-Language
  • Multiple Payment Options
  • Nonprofits
  • Onboarding
  • Online Invoicing
  • Online Payments
  • Order Management
  • Overpayment Processing
  • PCI Compliance
  • PO Reconciliation
  • Paired Currency Comparison
  • Partial Payments
  • Payment Collection
  • Payment Fraud Prevention
  • Payment Processing
  • Payment Processing Services Integration
  • Payroll Management
  • Percentage Commissions
  • Planning Tools
  • Point of Sale (POS)
  • Policy Management
  • Portfolio Management
  • Position Management
  • Price Guarantee
  • Procurement Management
  • Profit/Loss Statement
  • Progress Tracking
  • Project Accounting
  • Project Management
  • Proposal Generation
  • Purchase Order Management
  • Purchasing & Receiving
  • QuickBooks Integration
  • Real Time Analytics
  • Real Time Data
  • Real Time Monitoring
  • Real Time Reporting
  • Real-Time Chat
  • Receivables Ledger
  • Receiving/Putaway Management
  • Recurring Invoicing
  • Recurring/Subscription Billing
  • Reminders
  • Reporting & Statistics
  • Reporting/Analytics
  • Request Assignment
  • Requisition Management
  • Resource Management
  • Revenue Recognition
  • Risk Analytics
  • Risk Assessment
  • Risk Management
  • Rules-Based Workflow
  • Search/Filter
  • Self Service Portal
  • Sliding Scale Commissions
  • Sourcing Management
  • Spend Control
  • Spend Management
  • Split Commissions
  • Status Tracking
  • Supplier Management
  • Supply Chain Management
  • Supports Multiple Investors
  • Task Management
  • Tax Calculation
  • Tax Compliance
  • Tax Management
  • Template Management
  • Third Party Integrations
  • Tiered Commissions
  • Time & Expense Tracking
  • Trade Confirmations
  • Transaction History
  • Transaction Management
  • Transaction Monitoring
  • Transcripts/Chat History
  • Two-Factor Authentication
  • User Management
  • Vendor Management
  • Vendor Master Data Management
  • Vendor Payment
  • Visualization
  • Workflow Management

Integrations

  • Total integrations56
  • Authorize.Net
  • Dynamics 365
  • Dynamics 365 Business Central
  • FreshBooks
  • HubSpot CRM
  • Microsoft Excel
  • Microsoft Outlook
  • NetSuite
  • PayPal
  • QuickBooks Online Advanced
  • Quickbooks Online
  • SAP Business One
  • Sage Intacct
  • Salesforce Sales Cloud
  • Shopify
  • Slack
  • Stripe
  • WooCommerce
  • Xero
  • Zapier
  • Total integrations45
  • Authorize.Net
  • Dynamics 365
  • Dynamics 365 Business Central
  • FreshBooks
  • HubSpot CRM
  • Microsoft Excel
  • Microsoft Outlook
  • NetSuite
  • PayPal
  • QuickBooks Online Advanced
  • Quickbooks Online
  • SAP Business One
  • Sage Intacct
  • Salesforce Sales Cloud
  • Shopify
  • Slack
  • Stripe
  • WooCommerce
  • Xero
  • Zapier

User reviews that mention these apps

VB
AvatarImg

Valter B.

Entertainment, 11-50 employees

Used weekly for 1-2 years

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

Share this review:

Tipalti logo

Tipalti

Tipalti as a pristine gateway

Reviewed 3 years ago

Overall, the software and business is exceeding expectations and can be a value to any company in e-commerce or other financial obligation settlement needs.

Pros

The streamlined and ergonomic interface, together with global reach and end-user CRMs, make the payment obligations such an easy task, it's pratically effortless.

Cons

Ocassional payments stuck with less calrity on the reasoning.

mz
AvatarImg

moran z.

Marketing and Advertising, 501-1,000 employees

Review source

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

Share this review:

Tipalti logo

Tipalti

Work with Approve

Reviewed 2 years ago

Smart and energetic team, service oriented and fast learning.

Pros

The UI is good and the system is user friendly. It's an out of the box solution with some options to customize.

Cons

Missing an easy online purchasing experience for the end user (catalog) + agreements management module.

Vendor response

Thanks for the feedback Moran We have added a contact repository to our vendor module, which allows to (1) Store contracts and assign metadata (2) Schedule reminders for renewals (3) Search and filter vendors by contracts. With regards to punchout capabilities, those are on our immediate roadmap, alongside catalog management.

AS
AvatarImg

Abhay S.

Accounting, 1,001-5,000 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:

Tipalti logo

Tipalti

Account Payable

Reviewed 5 months ago

My total experience was fantastic with Tipalti. I really love this application its very easy and reliable

Pros

Invoice Processing as well in Vendor management

Cons

After doing payment Filtration on payment page for vendor.

EU
AvatarImg

Erhan U.

Accounting, 10,001+ employees

Used weekly for less than 6 months

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

Share this review:

Tipalti logo

Tipalti

Great Finance toolfor businesses

Reviewed 2 years ago

Very valuable asset for the businesses

Pros

Very well automized, easy to use and very clear AP module usage, easy management of transfers

Cons

There should be more visual training support, like video trainings to present all modules

LV
AvatarImg

Lisa V.

Venture Capital & Private Equity, 1-10 employees

Used daily for less than 6 months

Review source

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

Share this review:

Tipalti logo

Tipalti

Software selection proves a success

Reviewed 4 months ago

Overall, we are thrilled with selecting the right product for our business case. The staff are extremely helpful and flexible in ensuring it can meet our requirements with some tailoring as required.

Pros

The ability to process invoices from time of receipt to actual payment. Ability to handle multi-entity as well as handling of invoice management for a HNW individual.

Cons

UI not always that strong - could use some improvements in the structure of the tool and the user interface.

AvatarImg
AvatarImg

Yariv D.

51-200 employees

Review source

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

Share this review:

Tipalti logo

Tipalti

Increase publisher's satisfaction while saving time.

Reviewed 8 years ago

We have been a satisfied customer of Tipalti's payment management system for several years. Tipalti has helped us improve publisher satisfaction and retention rates, while decreasing the time we spend processing and managing partner payments. Very happy customer!

Pros

Increase publisher's satisfaction and retention rates Save time we spend processing and managing payments.

Cons

None so far.

AvatarImg
AvatarImg

Eran B.

Real Estate, 51-200 employees

Used daily for 6-12 months

Review source

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

Share this review:

Tipalti logo

Tipalti

Approve.com put us one step closer to adopting big-company workflows, without the complexity

Reviewed 3 years ago

my pain was mid-management were buying products without an organized approval workflow, and without them having transperancy as to how much of their budget is left on a monthly basis. I was afraid of implementing a process using our ERP as it's not friendly enough and I want to be an enabler of my peers - Approve.com definitely hit my sweet spot with their offering.

Pros

- easy to onborad all the different stakeholders, no more approvals on slack or emails - transparecny on Actual vs. Budget for every stakeholder - suppliers onboarding saved us hours of the finance team every month

Cons

- missing vitual credit cards - emails layout doesn't look good, images are too big etc. (I'm using MS outlook)

PO
AvatarImg

Patrick O.

Architecture & Planning, 51-200 employees

Used daily for less than 6 months

Review source

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

Share this review:

Tipalti logo

Tipalti

New User - Early Appraisal

Reviewed 4 months ago

Our AP controller left and we did not replace her. Tipalti automates half of what she was doing (setting up new suppliers, processing supplier invoices, setting up payment runs and actually paying suppliers) at a lower cost and the control environment is strengthened too.

Pros

The product is pretty easy to use, the supplier management puts the emphasis on the suppliers to get details correct, and because they want to be paid they are motivated to do so. In addition, the control environment is strengthened with the screening of suppliers and the internal digital invoice approval process of invoices means budget accountability is strengthened. It also integrates very well with NetSuite, which is important as that is my book of record.

Cons

The dashboard is not the best, it looks a bit out of date and could do with being refreshed. I would also like to see the product handle staff expenses and staff credit cards.

SN
AvatarImg

Sarah N.

Online Media, 51-200 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:

Tipalti logo

Tipalti

Timesaver! Efficient, Transparent and Organized Payments

Reviewed 15 days ago

I prefer Tipalti over all other AP software. It implores the help of vendors to get their respective invoices paid, which means there is less back and forth between the Finance Team and vendors. There is full visibility on where the invoices are in the payment process and that eliminates a lot of back and forth between vendors regarding payment status as well. All in all, a great tool for vendor management, invoice processing and payments!

Pros

The software was easy to use, and made the process for onboarding vendors quick and seamless. Vendors were able to assist with the creation of their own profiles and were able to navigate the portal pretty easily. This eliminated a lot of tedious work on our AP side. It allowed us to have vendor profiles setup quickly and allowed us to process payments in a timely manner. I also really like the fact that the software recognizes past invoices and vendors we've worked with, and can populate future invoice processing based on these past transactions. We work with the same vendors on a consistent basis, so when the software recognizes that and helps us create invoices based on past projects, it helps speed things up on our end. An incredible timesaver!

Cons

We send out batches of payments each week since we work with tons of vendors, but unfortunately we don't get alerts when a payment for a specific vendor doesn't go through. This could be for numerous reasons, but we don't realize that the payment was denied until a vendor reaches out. Then we need to navigate back to the transactions to figure out why it didn't go through. So maybe more alerts/notifications when something gets denied especially in regards to payment processing as that is the main reason for our utilization of this software and we can't afford any delays in remittance.