Workday Financial Management Features

Workday Financial Management

Fresh approach to financial management

4.36/5 (55 reviews)

Competitor Feature Comparison

"What If" Scenarios
ACH Payment Processing
Access Controls/Permissions
Accounting
Accounts Payable
Accounts Receivable
Aging Tracking
Approval Process Control
Asset Management
Audit Trail
Automatic Billing
Bank Reconciliation
Billing & Invoicing
Budgeting/Forecasting
CPA Firms
CRM
Cash Management
Check Processing
Check Writing
Collaboration Tools
Collections Management
Commenting/Notes
Compliance Management
Consolidation/Roll-Up
Currency Management
Customer Statements
Customizable Reports
Data Import/Export
Distribution Management
Document Management
Duplicate Payment Alert
Dynamic Pricing
Enterprise Asset Management
Expense Claims
Expense Tracking
Financial Analysis
Financial Management
Financial Reporting
Fixed Asset Management
For Government
For Hospitality Industry
Forecasting
Fraud Detection
Fund Accounting
General Ledger
HR Management
Income & Balance Sheet
Integrated Business Operations
Inventory Control
Inventory Management
Investment Management
Invoice Management
Invoice Processing
Manufacturing Planning
Mobile Access
Multi-Company
Multi-Country
Multi-Currency
Multi-Language
Nonprofits
Online Payments
Order Management
Overpayment Processing
Partial Payments
Payroll Management
Performance Management
Portfolio Management
Price Optimization
Profit/Loss Statement
Project Accounting
Project Management
Proposal Generation
Purchase Order Management
Real Time Analytics
Real Time Data
Real Time Monitoring
Real Time Reporting
Receivables Ledger
Recurring/Subscription Billing
Reporting & Statistics
Reporting/Analytics
Resource Management
Revenue Recognition
Risk Management
Status Tracking
Supply Chain Management
Tax Management
Time & Expense Tracking
Vendor Management
Warehouse Management
Workflow Management
Yield Management
Learn moreCompare App
"What If" Scenarios
ACH Payment Processing
Access Controls/Permissions
Accounting
Accounts Payable
Accounts Receivable
Aging Tracking
Approval Process Control
Asset Management
Audit Trail
Automatic Billing
Bank Reconciliation
Billing & Invoicing
Budgeting/Forecasting
CPA Firms
CRM
Cash Management
Check Processing
Check Writing
Collaboration Tools
Collections Management
Commenting/Notes
Compliance Management
Consolidation/Roll-Up
Currency Management
Customer Statements
Customizable Reports
Data Import/Export
Distribution Management
Document Management
Duplicate Payment Alert
Dynamic Pricing
Enterprise Asset Management
Expense Claims
Expense Tracking
Financial Analysis
Financial Management
Financial Reporting
Fixed Asset Management
For Government
For Hospitality Industry
Forecasting
Fraud Detection
Fund Accounting
General Ledger
HR Management
Income & Balance Sheet
Integrated Business Operations
Inventory Control
Inventory Management
Investment Management
Invoice Management
Invoice Processing
Manufacturing Planning
Mobile Access
Multi-Company
Multi-Country
Multi-Currency
Multi-Language
Nonprofits
Online Payments
Order Management
Overpayment Processing
Partial Payments
Payroll Management
Performance Management
Portfolio Management
Price Optimization
Profit/Loss Statement
Project Accounting
Project Management
Proposal Generation
Purchase Order Management
Real Time Analytics
Real Time Data
Real Time Monitoring
Real Time Reporting
Receivables Ledger
Recurring/Subscription Billing
Reporting & Statistics
Reporting/Analytics
Resource Management
Revenue Recognition
Risk Management
Status Tracking
Supply Chain Management
Tax Management
Time & Expense Tracking
Vendor Management
Warehouse Management
Workflow Management
Yield Management
Visit WebsiteCompare App
"What If" Scenarios
ACH Payment Processing
Access Controls/Permissions
Accounting
Accounts Payable
Accounts Receivable
Aging Tracking
Approval Process Control
Asset Management
Audit Trail
Automatic Billing
Bank Reconciliation
Billing & Invoicing
Budgeting/Forecasting
CPA Firms
CRM
Cash Management
Check Processing
Check Writing
Collaboration Tools
Collections Management
Commenting/Notes
Compliance Management
Consolidation/Roll-Up
Currency Management
Customer Statements
Customizable Reports
Data Import/Export
Distribution Management
Document Management
Duplicate Payment Alert
Dynamic Pricing
Enterprise Asset Management
Expense Claims
Expense Tracking
Financial Analysis
Financial Management
Financial Reporting
Fixed Asset Management
For Government
For Hospitality Industry
Forecasting
Fraud Detection
Fund Accounting
General Ledger
HR Management
Income & Balance Sheet
Integrated Business Operations
Inventory Control
Inventory Management
Investment Management
Invoice Management
Invoice Processing
Manufacturing Planning
Mobile Access
Multi-Company
Multi-Country
Multi-Currency
Multi-Language
Nonprofits
Online Payments
Order Management
Overpayment Processing
Partial Payments
Payroll Management
Performance Management
Portfolio Management
Price Optimization
Profit/Loss Statement
Project Accounting
Project Management
Proposal Generation
Purchase Order Management
Real Time Analytics
Real Time Data
Real Time Monitoring
Real Time Reporting
Receivables Ledger
Recurring/Subscription Billing
Reporting & Statistics
Reporting/Analytics
Resource Management
Revenue Recognition
Risk Management
Status Tracking
Supply Chain Management
Tax Management
Time & Expense Tracking
Vendor Management
Warehouse Management
Workflow Management
Yield Management
Learn moreCompare App

Mobile apps

iOS App


577,226 reviews

Requires iOS 13.0 or later. Compatible with iPhone, iPad, and iPod touch.

Android App


65,706 reviews

Workday Financial Management Feature Reviews

25 reviewers had the following to say about Workday Financial Management's features:

Anonymous
(Accounting company, 5001-10000 employees)

Workday Financials Review

2019-12-06

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

Pros

Everything from award creation to sponsor billing can be done from one system.

Cons

There are also no award or grant compliance checks in workday leaving compliance auditing at risk

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

8/10
Source: Capterra
Helpful?   Yes   No
Read more
Vanessa M.

It is a little bit difficult to use at the beginning.

2018-02-08

Pros

It has a very simple interface. Reports and features can get customized by ITS on demand.

Cons

It contains no tools for project management other than the accounting of available budget, obligations and actuals.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 1-2 years

Frequency of use: Daily

Source: Capterra
Helpful?   Yes   No
Read more
Anonymous
A verified reviewer

Excellent, I can have all the analysis of my management in a single financial management system.

2018-04-13

Allows me to register new levels of financial efficiency and business performance with Workday accounting software, I could quickly respond to anomalies as they happen with reports and in-memory accounting, I could manage all activity with configurable business processes.

Pros

I like most is that it gives me the possibility of having all the analysis of my management in a single financial management system.

Cons

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.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Weekly

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
Read more
Anonymous
(Automotive company, 10001+ employees)

User friendly interface

2018-08-15

Adding attachments to invoices and journal entries has essentially turned us into a paperless office.

Pros

The Workday Community is a great tool to post ideas and get real world advice from other companies experiencing the same issues.

Cons

Workday runs slow sometimes, especially on days when we're loading payroll and there's a lot of data going through the system.

Rating breakdown

Ease of use
Features

Time used: 1-2 years

Frequency of use: Daily

Likelihood to recommend

7/10
Source: Capterra
Helpful?   Yes   No
Read more
Omar D.

a powerful but complicated tool to use

2021-06-27

it is functional for us to make presentations or dashboards.

Pros

it is a financial control and management tool.

Cons

Capturing accounting operations are very complicated because we have not yet found a way to automate them to the tool.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Monthly

Likelihood to recommend

4/10
Source: Capterra
Helpful?   Yes   No
Read more
Shivankar D.

It's easy going and definately a must for your organisation.

2019-05-07

Also to integrate it with other organisational needs like HRM helps report some really important organisational data.

Pros

Easy to use, full coverage of organisational accounting needs.Financial reporting has beend made easier like never before.

Cons

Random error messages and runs slow at times.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: Less than 6 months

Frequency of use: Occasionally

Likelihood to recommend

8/10
Source: Capterra
Helpful?   Yes   No
Read more
Dennis M.

Best software for financial management and reporting

2018-05-15

accurate reports that i forwarded to the management for enabling the decision making process in the company

Pros

It provides accurate reports and financial tools thus proving to very reliable It can be used to generate monthly and annual reports therefore help in future financial forecasting

Cons

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

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 1-2 years

Frequency of use: Monthly

Likelihood to recommend

9/10
Source: Capterra
Helpful?   Yes   No
Read more
Hemant K.

One tool to provide all finance related detail.

2017-04-13

Very good tool for accounting, consolidation, planning, procurement, projects, reporting, and analytics.

Rating breakdown

Value for money
Ease of use
Features
Customer support
Source: Capterra
Helpful?   Yes   No
Read more
Devender Kumar S.

It is good experience of working with this tool.

2017-05-15

Pros

Very user friendly interface. easy to operate and reports can be taken out very easily.

Cons

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.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Weekly

Source: Capterra
Helpful?   Yes   No
Read more
Amy Rose G.

Verified Reviewer

Amazing, Unlike Any Other

2018-01-10

Pros

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

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 1-2 years

Frequency of use: Weekly

Likelihood to recommend

10/10
Source: GetApp
Helpful?   Yes   No
Read more
Anonymous
(Higher Education company, 10001+ employees)

Workday is not for every business

2018-09-18

My overall experience with Workday is sometimes frustrating since I cannot get the reports I need to do my job.

Pros

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

Cons

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.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 1-2 years

Frequency of use: Daily

Likelihood to recommend

7/10
Source: Capterra
Helpful?   Yes   No
Read more
Tiffany Y.

Your usual financial software

2019-12-10

Okay overall, don’t really see anything outstanding compared to other financial softwares

Pros

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

Cons

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.

Rating breakdown

Ease of use
Features

Time used: 6-12 months

Frequency of use: Daily

Likelihood to recommend

7/10
Source: Capterra
Helpful?   Yes   No
Read more
Anonymous
(Insurance company, 10001+ employees)

Excellent Product

2021-04-06

An excellent solution to make all of those once tedious tasks much easier.

Pros

From talent management, to recruiting, to benefits and obviously, financial reporting internally.

Cons

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

Rating breakdown

Ease of use
Features

Time used: 1-2 years

Frequency of use: Weekly

Likelihood to recommend

9/10
Source: Capterra
Helpful?   Yes   No
Read more
Anonymous
(Computer Networking company, 10001+ employees)

Workday does all things accounting

2021-07-28

We have had a great experience with the product. We've been able to retire our on-prem hardware and consume the product via the cloud. We've never experienced any downtime and advanced features are offered aplenty.

Pros

We are able to manage our accounts payable with ease with Workday!

Cons

There isn't much negative to say about the product but if I had to nitpick I would say that the interface could be snappier.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Monthly

Likelihood to recommend

8/10
Source: Capterra
Helpful?   Yes   No
Read more
Gaurav Paras S.

Awesome tool to manage finance in-house

2017-05-09

Pros

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

Cons

Sometimes slow to access Customize reports needs to enhance.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Source: Capterra
Helpful?   Yes   No
Read more
Shiawtian C.

Friendly and easy to use interface. Very powerful report and data sorting tool

2018-02-11

Pros

Everything is linked and stored in an easy to navigate format so you will have an easy time looking for what you need.

Cons

I don't like that reports can take a while if the data size is fairly large.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: Less than 6 months

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
Read more
Kelli T.

Workaround

2016-11-03

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.

Pros

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

Cons

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

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 1-2 years

Frequency of use: Daily

Likelihood to recommend

7/10
Source: Capterra
Helpful?   Yes   No
Read more
Rajesh S.

All details at one place and easy to handle

2017-05-09

Pros

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

Cons

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

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Source: Capterra
Helpful?   Yes   No
Read more
Anonymous
(Education Management company, 201-500 employees)

Workday's Financial Solution

2019-07-23

Pros

We currently have Workday HCM and it integrates seamlessly with their other product which saves our financial department tons of time.

Cons

Implementation of the software took a better part of the year and needed a third party to help setup the system.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: Less than 6 months

Frequency of use: Weekly

Likelihood to recommend

8/10
Source: Capterra
Helpful?   Yes   No
Read more
Alfonso P.

Great Financial Management support for P2P Capabilities

2021-04-20

Great capabilities that can integrate very well with other Workday modules.

Pros

Workday Financial Management provides a great P2P capability to organization already working with Workday HCM.

Cons

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.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

6/10
Source: Capterra
Helpful?   Yes   No
Read more
Anonymous
(Information Technology and Services company, 1001-5000 employees)

Workday is designed to help you on a daily basis!

2021-05-16

Pros

Workday user interface design is super friendly.

Cons

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

Rating breakdown

Ease of use
Features

Time used: 6-12 months

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
Read more
Anonymous
(Insurance company, 201-500 employees)

Workday review

2018-12-04

Overall I have had a good experience with Workday

Pros

Workday is an easy to use time management software.

Cons

Overall I do not have any complaints about Workday

Rating breakdown

Ease of use
Features

Time used: 6-12 months

Frequency of use: Weekly

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
Read more
Anonymous
(Sports company, 11-50 employees)

Workday for Office Life

2020-04-09

We love workday. It is so simple and really streamlines the work process between employees and employers.

Pros

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.

Cons

It is very simple to use, and is easy to access from a phone as well.

Rating breakdown

Ease of use
Features

Time used: 1-2 years

Frequency of use: Daily

Likelihood to recommend

9/10
Source: Capterra
Helpful?   Yes   No
Read more
Abhijay P.

Very resourceful HR and finance management software

2021-07-29

Overall, it's good software but can be much better if they work on some of the cons I mentioned.

Pros

The payslip management is very helpful.

Cons

The initial learning curve can be tricky. The second thing I find annoying is unplanned maintenance without advanced notice makes it tough when you have some last-minute things to finish over the weekend.

Rating breakdown

Ease of use
Features

Time used: 2+ years

Frequency of use: Monthly

Likelihood to recommend

7/10
Source: Capterra
Helpful?   Yes   No
Read more
Lauren A.

Workday Financial Management

2021-07-22

Overall I have had a great experience with Workday Financial Management!

Pros

This software is easy to use and can be effective in so many different ways.

Cons

There is always a learning curb with new software. I was able to figure out a few of the shortcuts but it does take a little learning and growth.

Rating breakdown

Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Occasionally

Likelihood to recommend

7/10
Source: Capterra
Helpful?   Yes   No
Read more