Workday Financial Management Features

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.

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

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

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.

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

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

I enjoy that all of our employees use workday and it makes it very simple to approve their time, as opposed to having to check time cards or check into another account. You can do everything from Workday, enter your time, ask for time off, track employees time, send employee messages, check your pay stubs, see your benefits, and lots more.

I don' think there are really any cons! It is very simple to use, and is easy to access from a phone as well.

Processing my invoices is easy and finding old files is a breeze. I process invoices, adjustments (credits and debits), and there is no issues. Its easy to process those as it kept all the information from the supplier to easy the processing. The reporting and research its very easy with an array of ways to find what I'm looking for.

Nothing at all. Very user friendly, easy to learn and so "jointed" with all aspects of the AP. Very happy my employer has this program.

Workday user interface design is super friendly. As the user with the rights for approving expenses to my cost center, I have no complaints. The process is straight forward, smooth, and the software feels robust and without any flaws.

The 'inbox' or 'archive' section can be confusing, but aside from that, Workday is top-notch regarding software for Financial Management and much more!

Allows user to save particular reports for easy access in the future, especially great if you need recurring reports.

There should be some sort of a filter feature. I find it troublesome when looking up vendor in the search bar, but unable to refine by cost center or BU without going through pulling the ledger entries.

I enjoy the responsiveness of the program, when changes are made to invoices, it is instantaneous.

Occasionally it can be hard to search for reports/tasks by name.

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.

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.

Workday Financials is user friendly and has some great reporting capabilities. The interface looks fresh and it's easy to navigate. Each new release adds additional utility. The Workday Community is a great tool to post ideas and get real world advice from other companies experiencing the same issues.

Workday runs slow sometimes, especially on days when we're loading payroll and there's a lot of data going through the system. Sometimes Workday gives cryptic and seemingly random error messages.

Workday Financial Management provides a great P2P capability to organization already working with Workday HCM. This tool provides best-in-class functionalities that support financial and procurement operations.

The language, terms, jargon are very specific to Workday nomenclature rather than based on industry. Some concepts are quite unique and sometimes unnecessary when compared against a Coupa or other provider.

The reporting capabilities and the ability to drill down in functions to get to the info you need.

Not always user friendly. The error notes are not very helpful in pointing you to the specific line that has an issue.

Workday is all encompassing. From accessing my pay slips to tracking my career and goal development to managing my time, it takes care of everything in one Swift go. Incredibly user friendly

There are no cons that I have encountered

Workday enables businesses to view all their financials in just a few clicks.

Usually when a report is exported to excel, it's hard to view since the columns contain information that are irrelevant and need to be hidden.

User-friendly, easy access, secure to end user It's easy to provide weekly, monthly and yearly view for Planning

Sometimes slow to access Customize reports needs to enhance. Projection reports needs to add for analyzing future trend

It has a very simple interface. Reports and features can get customized by ITS on demand. There is an app you can use on your phone with all the working features.

It contains no tools for project management other than the accounting of available budget, obligations and actuals. Some terms do not reflect the correct accounting, finance, and projext management industries.

Workday makes accounting for you time easy, along with all the other features.

I just wish we would have used workday sooner.

GUI interface.Easy to use...and user friendly. I am using this from past 2 years and its awsome tool.

The charts can be improved , taking out the reports is not not so easy and can be improved further.

I like most is that it gives me the possibility of having all the analysis of my management in a single financial management system. I find it interesting that it helps me to lead strategic planning and find the best ways for the profitability of my new business.

I'm practically new using the tool, but I think it would be useful to include the possibility of including the initial data of the company and predict its productivity in the short term.

This product has made work in our HR space so much more streamlined. From talent management, to recruiting, to benefits and obviously, financial reporting internally. Budget keeping is no longer the massive chore it used to be.

Because Workday is a holistic solution for HR, there are minor limitations, but those hardly impact it's greater value.

everything is in one place - time off; evaluations; goals; job openings. I love one-stop shops

Never had figured out how to get rid of certain items or delete them specifically in the job interest. I have them lingering on the side but would like to delete. Can't figure it out :-)

Very user friendly interface. easy to operate and reports can be taken out very easily. Used to of this tool is about 3 years.

It is good tool however recovery of reports by this tools sometime seems difficult and need to improve its efficacy and speedy data and report production.

I like the easy access to different reports. I can put down information the way I want it and dive deeper into the data if I need to. Everything is linked and stored in an easy to navigate format so you will have an easy time looking for what you need.

I don't like that reports can take a while if the data size is fairly large. Also if you attempt to click around too much before Workday process what you want it to do, you will get an error message. It is very easy to create this error message if you click around too much without giving it some time.

WFM is easy to use, train other associates on how to use and I have yet to experience a software issue.

None issues with WFM come to mind at this time.