Workday Financial Management Features & Capabilities

Workday Financial Management

QuickBooks Enterprise

TaxDome

Workday Financial Management is a web-based accounting and planning software that helps with strategic financial decisions and predictable customer outcomes. It manages the sales and revenue portfolio and allows a completely transparent sales management experience both in the office and on the road.

"What If" Scenarios

Access Controls/Permissions

Accounting

Accounts Payable

Accounts Receivable

ACH Payment Processing

Activity Dashboard

Ad hoc Reporting

Aging Tracking

Alerts/Notifications

Approval Process Control

Audit Management

Audit Planning

Audit Trail

Automatic Billing

Bank Reconciliation

Billing & Invoicing

Budget Management

Budgeting/Forecasting

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

CPA Firms

Currency Management

Customer Statements

Customizable Invoices

Customizable Reports

Customizable Rules

Dashboard

Data Import/Export

Data Management

Data Visualization

Distribution Management

Document Management

Duplicate Payment Alert

Dynamic Pricing

Electronic Funds Transfer

Enterprise Asset Management

ERP integration

Expense Claims

Expense Management

Expense Tracking

Financial Analysis

Financial Management

Financial Reporting

Fixed Asset Management

For Grantmakers

For Hospitality Industry

For Real Estate

For Small Businesses

Forecasting

Fraud Detection

Fund Accounting

Gantt/Timeline View

General Ledger

Grant Application Management

Grant Award Tracking

HR Management

Income & Balance Sheet

Integrated Business Operations

Inventory Control

Inventory Management

Investment Management

Invoice Creation

Invoice History

Invoice Management

Invoice Processing

Mobile Access

Mobile App

Multi-Company

Multi-Currency

Multi-Language

Online Invoicing

Online Payments

Order Management

Overpayment Processing

Partial Payments

Payment Collection

Payroll Management

Planning Tools

Portfolio Management

Price and Cost Calculations

Price Optimization

Procurement Management

Product Configurator

Profit/Loss Statement

Progress Tracking

Project Accounting

NetSuite

Xero

QuickBooks Online

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

Your usual financial software

We use it for processing invoices from import vendors and other international partners, and detect the data and automated the accounts receivable/payable process while providing detailed reports and identified exceptions.

Great Central Tool for Financial Management

Overall experience with Workday Financial Management has been fantastic. Great capabilities that can integrate very well with other Workday modules.

Great Financial Management support for P2P Capabilities 

Workday 

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

Workday Financials Review

Workday Financial Review

Workday financial management 

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. 

Slow and Not User Friendly

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.

Workday Financial Management Review

Workday Financials gave us much needed reporting capabilities that we weren't getting from other software. The fact that it integrates with our HRM system makes it easier to drill into certain data sets. Adding attachments to invoices and journal entries has essentially turned us into a paperless office.

User friendly interface

Best cloud based financial management system

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

Workday for Office Life

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. 

Workday Review

Workday is designed to help you on a daily basis!

Best AP system for the amount of invoices ever...we process thousands of invoices and adjustments every day and has never disappointed me.

WD User

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. A great benefit is that I have accomplished to change proactively to internal and external changes without IT resources or costly customizations.

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

When we initially started using this product it was very cumbersome. It improved some of our old processes but then seemed to make other worse.  It has either gotten better or we have just gotten use to it.  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.  They recently changed the requisition creation and it is not clear what the end user needs to do once they enter a line item.  Overall I like the product but I feel it could still be improved.  We just started using the HR function this week and so far I like what I see.

Workaround

I keep a track of everything work related on workday. It is my starting and end point

Best system for the workplace

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

Excellent Product

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

Workday is very easy to use

My overall experience with Workday is sometimes frustrating since I cannot get the reports I need to do my job.  I work with the filing of 1099s for all the vendors and it's impossible to run reports with the information I need in order to report accurately to the IRS.

Workday is not for every business

It is a good program suitable for high volume invoice processing.

AP Specialist

It helps us to know and share the accounting figures of some additional areas. 
it is functional for us to make presentations or dashboards.

a powerful but complicated tool to use

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Workday Financial Management screenshot: Workday Financial Management claims analysis

Workday Financial Management screenshot: Workday Financial Management accounting center

Workday Financial Management screenshot: Workday Financial Management expense management

Workday Financial Management screenshot: Workday Financial Management financial planning dashboard

Workday Financial Management Features

Features Summary

Screenshots

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Common Workday Financial Management comparisons

Reviewers who mentioned features said: