Workday Financial Management reviews

Best cloud based financial management system

Pluspunten:

Easy to develop reports and less coding for developing integrations. User Interface is very good and dashboards are easy to develop and deploy

Minpunten:

It won't allow much customization on the existing pages.

Workday Financials Review

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

Pluspunten:

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.

Minpunten:

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

Workday Review

Opmerkingen: 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.

Pluspunten:

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

Minpunten:

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.

Workday for Office Life

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

Pluspunten:

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.

Minpunten:

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

Workday Financial Management Review

Opmerkingen: 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.

Pluspunten:

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

Minpunten:

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

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

Opmerkingen: 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.

Pluspunten:

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.

Minpunten:

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.

Workday is designed to help you on a daily basis!

Pluspunten:

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.

Minpunten:

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

Your usual financial software

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

Pluspunten:

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

Minpunten:

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.

Workday

Opmerkingen: The system functions as expected and is a great tool to use.

Pluspunten:

There so much that can be done and Workday helps to streamline many of our manual processes and workflows.

Minpunten:

The system is difficult to navigate and things are are to find. The overall design experience could use some improvement.

Excellent Product

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

Pluspunten:

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.

Minpunten:

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

Slow and Not User Friendly

Opmerkingen: 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.

Pluspunten:

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.

Minpunten:

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.

Great functionality for better price

Pluspunten:

WFM is definitely more affordable than any of the competitors, especially Hyperion who has astronomical prices for similar functionality. We use WFM primarily for accounting and payroll. It has a user friendly interface, set up was somewhat of a breeze. I like the fact that it's a cloud system, makes everything easier.

Minpunten:

Their help center is lacking. Also for people who are not as tech savvy, it's was surprisingly challenging to find user guides and we had to contact WFM support for that, when they should have been accessible in the first place.

User friendly interface

Opmerkingen: 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.

Pluspunten:

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.

Minpunten:

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.

Great Financial Management support for P2P Capabilities

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

Pluspunten:

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.

Minpunten:

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.

Workaround

Opmerkingen: 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.

Pluspunten:

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

Minpunten:

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

WD User

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

Pluspunten:

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.

Minpunten:

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.

Most Intuitive Yet

Opmerkingen: Workday has been the most enjoyable experience in my career. Nobody likes to fiddle around with software that looks outdated and glitchy when they’re dealing with their paycheck.

Pluspunten:

This has been the most intuitive software for entering payroll information and altering personal information for payroll as well. We’ve never had an issue with Workday and plan on using it forever!

Minpunten:

The only difficult thing to figure out is how many hours you have for the week. Sometimes when you have holiday hours or vacation hours it’s hard to tell how many hours you actually have for the week without submitting it.

Best system for the workplace

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

Pluspunten:

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

Minpunten:

There are no cons that I have encountered

Workday is not for every business

Opmerkingen: 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.

Pluspunten:

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

Minpunten:

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.

Awesome tool to manage finance in-house

Pluspunten:

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

Minpunten:

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

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

Pluspunten:

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.

Minpunten:

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 is very easy to use

Pluspunten:

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

Minpunten:

I just wish we would have used workday sooner.

All details at one place and easy to handle

Pluspunten:

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

Minpunten:

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

Workday Makes Your Workday Easier

Pluspunten:

Implementation was easy and adoption of the program happened quicker than normal from other programs.

Minpunten:

Customer Service representatives could be friendlier.

Not completely bad, but not user friendly.

Opmerkingen: I use it mainly to look at my check stubs, but it does that quite well.

Pluspunten:

I like that once you figure it out it's simple to use, and make it easy to access your information.

Minpunten:

It's not too user friendly when you first start using it. It definitely takes some getting used to.