Workday Financial Management

Who Uses Workday Financial Management?

Workday Financial Management is designed to help CFOs of companies of all sizes lead their finance practice with deeper insights, less manual work to drive efficiency, and greater agility.

What Is Workday Financial Management?

Workday Financial Management is a single cloud based solution designed for financial planning, analysis and transactions. By combining transactions, accounting, analytics, and always on audit in one system, Workday empowers decision-makers with in-the-moment and on-the-go financial and business insight they can act upon and plan for what's next.

Workday Financial Management Details

Workday

https://www.workday.com

Founded 2003

Compare Workday Financial Management with similar products

Starting price

N/A
US$499.00/month
N/A
US$20.00/month

Free Version

Free Version No
Free Version No
Free Version No
Free Version Yes

Free Trial

Free Trial No
Free Trial No
Free Trial Yes
Free Trial Yes

Workday Financial Management deployment and support

Support

  • Email/Help Desk
  • Knowledge Base
  • 24/7 (Live rep)

Deployment

  • Cloud, SaaS, Web-based

Training

  • In Person
  • Live Online
  • Webinars
  • Documentation
  • Videos

Workday Financial Management Features

  • API
  • Access Controls/Permissions
  • Accounting
  • Accounts Payable
  • Accounts Receivable
  • Activity Dashboard
  • Activity Tracking
  • Approval Process Control
  • Audit Management
  • Audit Trail
  • Automatic Billing
  • Bank Reconciliation
  • Billing & Invoicing
  • Budgeting/Forecasting
  • CPA Firms
  • Compliance Management
  • Credit Card Processing
  • Document Storage
  • Expense Claims
  • Expense Tracking
  • Financial Management
  • Financial Reporting
  • Fixed Asset Management
  • For Government
  • Fund Accounting
  • General Ledger
  • Income & Balance Sheet
  • Inventory Management
  • Inventory Tracking
  • Invoice Management
  • Mobile Access
  • Multi-Currency
  • Multi-Location
  • Nonprofits
  • Order Management
  • Payroll Management
  • Project Accounting
  • Project Management
  • Projections
  • Purchase Order Management
  • Purchasing & Receiving
  • Quotes/Estimates
  • Receipt Management
  • Recurring/Subscription Billing
  • Reminders
  • Sales Tax Management
  • Status Tracking
  • Tax Management
  • Third Party Integrations
  • Workflow Management

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  • Audit Management
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  • Bank Reconciliation
  • Billing & Invoicing
  • Cash Flow Management
  • Cash Management
  • Check Writing
  • Compliance Management
  • Configurable Workflow
  • Customisable Reports
  • Data Extraction
  • Data Import/Export
  • Document Management
  • Document Storage
  • Duplicate Payment Alert
  • ERP
  • Electronic Funds Transfer
  • Electronic Payments
  • Expense Tracking
  • Financial Analysis
  • Financial Management
  • Fraud Detection
  • General Ledger
  • Inventory Management
  • Invoice Management
  • Invoice Processing
  • Mobile Access
  • Multi-Currency
  • PO Reconciliation
  • Purchase Order Management
  • Real Time Data
  • Real Time Reporting
  • Receipt Management
  • Recurring Payments
  • Reporting & Statistics
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  • Check Processing
  • Collections Management
  • Contact Database
  • Credit Card Processing
  • Customer Statements
  • Customisable Reports
  • Customisable Templates
  • Data Import/Export
  • Discount Management
  • Document Management
  • Electronic Payments
  • Expense Tracking
  • Financial Analysis
  • Financial Management
  • Forecasting
  • General Ledger
  • Inventory Management
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  • Invoice Management
  • Invoice Processing
  • Multi-Currency
  • Online Payments
  • Order Management
  • Overpayment Processing
  • Partial Payments
  • Profit/Loss Statement
  • Purchase Order Management
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  • HR Management
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  • Invoice Management
  • Invoice Processing
  • Manufacturing Planning
  • Multi-Currency
  • Multi-Location
  • Order Management
  • Order Processing
  • Payroll Management
  • Project Management
  • Projections
  • Purchase Order Management
  • Quotes/Estimates
  • Real Time Data
  • Real Time Reporting
  • Reporting & Statistics
  • Reporting/Analytics
  • Sales Orders
  • Shipping Management
  • Stock Management
  • Supplier Management
  • Supply Chain Management
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  • Warehouse Management
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  • Cash Management
  • Compliance Management
  • Configurable Workflow
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  • Currency Management
  • Customisable Reports
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  • Data Import/Export
  • Data Visualisation
  • Electronic Payments
  • Financial Analysis
  • Financial Management
  • Financial Reporting
  • Fixed Asset Management
  • Forecasting
  • General Ledger
  • Investment Management
  • Invoice Management
  • Invoice Processing
  • Mobile Access
  • Monitoring
  • Multi-Company
  • Multi-Currency
  • Planning Tools
  • Project Management
  • Project Time Tracking
  • Projections
  • Real Time Analytics
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  • Real Time Reporting
  • Reporting & Statistics
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  • Risk Management
  • Tax Management
  • Third Party Integrations
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  • Transaction Monitoring
  • User Management
  • Visual Analytics
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  • Calendar Management
  • Client Portal
  • Collaboration Tools
  • Customisable Reports
  • Customizable Fields
  • Document Management
  • Document Storage
  • Drag & Drop
  • Email Management
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  • Forecasting
  • Gantt/Timeline View
  • Invoice Management
  • Monitoring
  • Multiple Projects
  • Performance Metrics
  • Portfolio Management
  • Progress Tracking
  • Project Management
  • Project Planning
  • Project Templates
  • Project Time Tracking
  • Project Tracking
  • Project Workflow
  • Projections
  • Proposal Generation
  • Quotes/Estimates
  • Real Time Analytics
  • Real Time Data
  • Real Time Reporting
  • Real-time Updates
  • Reporting & Statistics
  • Resource Allocation & Planning
  • Resource Management
  • Task Management
  • Task Planning
  • Task Progress Tracking
  • Task Scheduling
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  • Timesheet Management
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  • Claims Management
  • Competitive Analysis
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Workday Financial Management Reviews

Read all reviews

Overall rating

4.3/5

Average score

Ease of Use 4
Customer Service 4.4
Features 4.4
Value for Money 4.3

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Verified Reviewer
Assistant General Manager
Sports, 11-50 Employees
Used the Software for: 1+ year
  • Overall Rating
    5 /5
  • Ease of Use
    5 /5
  • Features & Functionality
    5 /5
  • Customer Support
    Unrated
  • Value for Money
    Unrated
  • Likelihood to Recommend
    9/10
  • Reviewer Source 
  • Reviewed on 9/04/2020

"Workday for Office Life"

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

Pros: 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.

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

  • Reviewer Source 
  • Reviewed on 9/04/2020
Verified Reviewer
Workday Grant Administrator
Accounting, 5,001-10,000 Employees
Used the Software for: 2+ years
  • Overall Rating
    4 /5
  • Ease of Use
    3 /5
  • Features & Functionality
    5 /5
  • Customer Support
    5 /5
  • Value for Money
    5 /5
  • Likelihood to Recommend
    8/10
  • Reviewer Source 
  • Reviewed on 6/12/2019

"Workday Financials Review"

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

Pros: 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.

Cons: 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

  • Reviewer Source 
  • Reviewed on 6/12/2019
Verified Reviewer
Operations Sr Manager
Information Technology & Services, 1,001-5,000 Employees
Used the Software for: 6-12 months
  • Overall Rating
    5 /5
  • Ease of Use
    5 /5
  • Features & Functionality
    5 /5
  • Customer Support
    Unrated
  • Value for Money
    Unrated
  • Likelihood to Recommend
    10/10
  • Reviewer Source 
  • Reviewed on 16/05/2021

"Workday is designed to help you on a daily basis!"

Pros: 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.

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!

  • Reviewer Source 
  • Reviewed on 16/05/2021
Rachel S.
Proposal Analyst
Insurance, 5,001-10,000 Employees
Used the Software for: 2+ years
  • Overall Rating
    3 /5
  • Ease of Use
    2 /5
  • Features & Functionality
    3 /5
  • Customer Support
    3 /5
  • Value for Money
    3 /5
  • Likelihood to Recommend
    4/10
  • Reviewer Source 
  • Reviewed on 29/10/2018

"Workday Review"

Comments: 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.

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

Cons: 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.

  • Reviewer Source 
  • Reviewed on 29/10/2018
Verified Reviewer
Assistant Director, Communications
Insurance, 10,000+ Employees
Used the Software for: 1+ year
  • Overall Rating
    5 /5
  • Ease of Use
    5 /5
  • Features & Functionality
    5 /5
  • Customer Support
    Unrated
  • Value for Money
    Unrated
  • Likelihood to Recommend
    9/10
  • Reviewer Source 
  • Reviewed on 6/04/2021

"Excellent Product"

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

Pros: 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.

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

  • Reviewer Source 
  • Reviewed on 6/04/2021