Workday Financial Management

Workday Financial Management

by Workday

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, 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 2005

Workday Financial Management Pricing Overview

Workday Financial Management does not have a free version and does not offer a free trial.

Free Version

No

Free Trial

No

Deployment

Cloud, SaaS, Web

Training

In Person

Live Online

Webinars

Documentation

Support

24/7 (Live Rep)

Workday Financial Management Features

Accounting Software
Accounts Receivable
Bank Reconciliation
Billing & Invoicing
CPA Firms
Expense Tracking
Fixed Asset Management
Fund Accounting
Government
Nonprofits
Payroll Management
Project Accounting
Purchase Orders
Tax Management
"What If" Scenarios
Access Controls/Permissions
Audit Trail
Balance Sheet
Budgeting/Forecasting
Cash Management
Consolidation/Roll-Up
Data Import/Export
General Ledger
Multi-Company
Profit/Loss Statement

Workday Financial Management Reviews

Showing 5 of 39 reviews

Overall
4.3/5
Ease of Use
4.1/5
Customer Service
4.4/5
Features
4.3/5
Value for Money
4.2/5
Verified Reviewer
Assistant General Manager
Sports, 13-50 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 09/04/2020

"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 09/04/2020
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 06/12/2019

"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 06/12/2019
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
Accounting Manager
Automotive, 10,001+ Employees
Used the Software for: 1+ year
  • Overall Rating
    4/5
  • Ease of Use
    4/5
  • Features & Functionality
    4/5
  • Customer Support
    Unrated
  • Value for Money
    Unrated
  • Likelihood to Recommend
    7/10
  • Reviewer Source 
  • Reviewed on 15/08/2018

"User friendly interface"

Comments: 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.

Pros: 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.

Cons: 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.

  • Reviewer Source 
  • Reviewed on 15/08/2018
Kelli T.
Tehcnical Systems Administrator
Insurance, 1,001-5,000 Employees
Used the Software for: 1+ year
  • Overall Rating
    4/5
  • Ease of Use
    3/5
  • Features & Functionality
    4/5
  • Customer Support
    3/5
  • Value for Money
    3/5
  • Likelihood to Recommend
    7/10
  • Reviewer Source 
  • Reviewed on 03/11/2016

"Workaround"

Comments: 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.

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.

  • Reviewer Source 
  • Reviewed on 03/11/2016