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About Workday Financial Management

Workday Financial Management helps organizations to reduce financial risk in this ever-changing market. The software helps users to focus more on action and analysis and less on transaction processing with its deeper insight into finance management. It assures users the flexibility to adapt to new processes and track changes quickly. The software’s machine learning capability detects anomalies and offers recommendations to make more useful finance business processes. Workday Financial Management automatically transforms data related to business events into accounting, thereby simplifying the accounting processes. Users get maximum control over their companies’ finances by getting details about every transaction. It also helps them to manage risk and monitor compliance. With Workday Financial Management, finance teams can streamline their processes from contract to cash and record to report. The software also assists to create business strategies by continuous planning, analyzing and forecasting market trends, that provide them positive outcomes in the future.

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Screenshots & Videos

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Pricing

SW Score Breakdown The SW Score breakdown shows individual score for product features.Read more

  • Features The Feature Score % is calculated using the weighted average method, where core features hold more weight in the final calculation. Read more
    100%
  • Reviews
    82%
  • Momentum
    60%
  • Popularity
    63%

Platforms Supported

  • Browser Based (Cloud)

Organization Types Supported

  • All (Small, Medium, Large)

API Support

  • NA

Modes of Support

  • 24/7 (Live rep), Online

Workday Financial Management Awards

Highly Rated
# 17 Highly Rated Accounting Software
Q2 2021

Workday Financial Management Features

Accounting Features

  • Features: The Feature Score % is calculated using the weighted average method, where core features hold more weight in the final calculation. Read more
    100%

Tax Management

Management of finances for payment of tax as well as assessing the advance tax liability to pay your tax in time

Spend Management

Managing the expenditure of a business in order to build its product or services

Revenue Recognition

Determining the specific conditions under which revenue is recognized or accounted for

Purchasing

Acquiring goods or services required for the business at minimal cost

Project Accounting

Creation of financial reports specifically designed to track the financial progress of projects

Payroll

Handling the salary payable to the employees

Multi-Currency

Enables payment and collection in multiple currencies.

General Ledger

Maintaining and recording all the accounting related transactions.

Fixed Asset Management

Helps in tracking fixed assets for the purposes of financial accounting, preventive maintenance, and theft deterrence.

Expense Tracking

Keep a count of your day to day expenses as well as allows you to quickly identify where the expense report is in the approval process.

CPA Firms

Offers collaboration with a professional expert for financial and consulting services.

Collections

Recovery of cash from a business or individual.

Cash Management

Collection and management of cash.

Billing and Invoicing

This feature helps in issuing and handling the invoice and bills.

Bank Reconciliation

Matching the balances of an entity's accounting records with the corresponding information on a bank statement.

Accounts Receivable

Handling the money the client owes to the company.

Accounts Payable

Handling the money owed by a business to its suppliers.
Workday Financial Management Pricing

Free Trial

Not available

Pricing Options

Premium Plans ( Quotation Based )

Pricing Plans

Workday Financial Management Custom

Features

  • A System You Can Adapt to Your Needs
  • Intelligent Automation Optimizes Your Processes
  • One Place to Transform Data into Accounting.
  • Fresh Insights
  • Always-on Auditing
  • Accounting and Finance
  • Close and Consolidate
  • Revenue Management
  • Accounting Center
  • Expenses
  • Grants Management
  • Projects
  • Services CPQ
  • Analytics and Reporting
  • Financial Planning
  • Audit and Internal Controls
  • Global Foundation
Disclaimer: The pricing details were last updated on 15/07/2024 from the vendor website and may be different from actual. Please confirm with the vendor website before purchasing.

Learn more about Workday Financial Management Pricing

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Workday Financial Management Reviews

User Rating

2.9/5 (Based on 390 Ratings)

Rating Distribution

  • Excellent

    24.1%
  • Very Good

    23.8%
  • Average

    9.2%
  • Poor

    2.3%
  • Terrible

    40.5%

User Sentiments

User-friendly interface, Comprehensive employee data management, Centralized HR functions, Real-time reporting and analytics

Confusing navigation and menu structure, Time-consuming and complex processes, Security overkill and password issues, Limited customization options

Do You Use Workday Financial Management?

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Review Summary

Workday Financial Management receives positive feedback for its user-friendly interface, comprehensive features, and strong reporting capabilities. Reviewers appreciate its seamless integration with other Workday modules, enabling efficient data sharing and streamlined processes. The platform's adaptability and scalability are also highlighted, catering to the evolving needs of businesses. However, some users mention occasional performance issues and a learning curve associated with the implementation and setup. Overall, Workday Financial Management is praised for enhancing financial visibility, improving decision-making, and facilitating collaboration within finance teams.

Pros

  • Streamlined financial processes: Workday Financial Management offers a centralized platform for managing all financial operations, providing realtime visibility and control.
  • Robust reporting and analytics: The platform provides comprehensive reporting and analytics capabilities, enabling businesses to make datadriven decisions and gain insights into financial performance.

Cons

  • Steep learning curve for new users.
  • Limited customization options.
  • Can be expensive for small businesses.
  • Occasional performance issues and outages.

Workday Financial Management Reviews

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Workday Financial Management FAQs

What is Workday Financial Management used for?

Workday Financial Management is Accounting Software. Workday Financial Management offers the following functionalities:

  • Tax Management
  • Spend Management
  • Revenue Recognition
  • Purchasing
  • Project Accounting
  • Payroll
  • Multi-Currency
  • General Ledger
  • Fixed Asset Management
  • Expense Tracking
  • CPA Firms
  • Collections
  • Cash Management
  • Billing and Invoicing
  • Bank Reconciliation
  • Accounts Receivable
  • Accounts Payable

Learn more about Workday Financial Management features.

What are the top alternatives for Workday Financial Management?

Here`s a list of the best alternatives for Workday Financial Management:

Does Workday Financial Management provide API?

No, Workday Financial Management does not provide API.

Workday Financial Management Contact

Vendor Details

Pleasanton, California

Contact Details

+1 866-951-9002

https://www.workday.com/en-us/applications/financial-management.html

Social Media Handles

Not available

Grid Report for Workday Financial Management

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Disclaimer

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