Overview
Product Information on Workday Financial Management
What is Workday Financial Management?
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Overall experience with Workday Financial Management
“Tracking Reimbursements With Workday Is Simple, Yet Reporting Process Needs Improvement”
“Workday Enhances Integrations Yet Lags on AI and Dashboard Capabilities”
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Company Description
Workday is the AI platform for managing people, money, and agents. Workday unifies HR and Finance on one platform with AI at the core to empower people at every level with the clarity, confidence, and insights they need to adapt quickly, make better decisions, and deliver outcomes that matter. Workday is used by organizations around the world and across industries.
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Key Insights
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User Sentiment About Workday Financial Management
Reviewer Insights for: Workday Financial Management
Performance of Workday Financial Management Across Market Features
Workday Financial Management Likes & Dislikes
I love that I can access Workday's mobile app from my phone and snap photos of itemized receipts to use for my expense reports, which makes the entire reimbursement process a breeze! No more having to keep track of what I am spending and where by holding onto paper receipts, because now I can easily submit a receipt from anywhere, instantly using my phone!
The integrations are strong and work with major systems
1- Seamless integration between Finance, HR, and Procurement provides a single source of truth for the org. data, and improve accuracy for better decision making. 2- Workday's configurable dashboards and real-time insights make it easier to monitor KPIs, automate reconciliations, and support faster month-end FS closing. 3- Regular feature releases and a strong roadmap keep the platform aligned with evolving accounting standards and business needs.
I do wish that the receipt submission process was slightly more intuitive, because I have to go into the Workday platform and rename files accordingly, which is somewhat time consuming. I also wish that I could create naming conventions for any receipts that I have added to keep consistency across my expense reports. Finally, I would love to see Workday leverage AI or other emerging technologies to streamline the reporting process and make expense reporting easier than ever.
The AI and functionality is not up to par with peers
1- Complex automation making the setup and data migration phases resource-intensive and requiring strong governance. 2- Limited customization in certain finance workflows and reporting layouts. 3- Licensing and integration with 3rd-party tools can be quite expensive, especially for smaller subsidiairies.
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Workday Financial Management Reviews and Ratings
- MANAGERGov't/PS/EdEducationReview Source
Tracking Reimbursements With Workday Is Simple, Yet Reporting Process Needs Improvement
Submitting expense reports using Workday's Financial Management software has never been better! I am able to easily track the reimbursement process through the portal and see when I will be paid for business related expenses, without having to keep copies of my receipts while traveling for work. - INTERNAL AUDIT DIRECTOR1B-10B USDTelecommunicationReview Source
Workday Financial Management: A Modern Integrated ERP for Strong Financial Controls but Requires Careful Implementation Planning
Workday Financial Management is a robust cloud-based ERP platform that delivers strong financial visibility, process automation, and integrated reporting. We implemented it to modernize our finance ops, improve data accuracy, and streamline consolidation across our multiple BUs. The overall experience has been positive with clear benefits in financial control and compliance. - INTEGRATION LEAD1B-10B USDManufacturingReview Source
Real-Time Insights
Workday Financial Management provides a modern, cloud-native ERP solution that integrates core finance operations with workforce and analytics capabilities. The interface is intuitive, and the platform's real-time data model enables faster reporting, better insights and streamlined financial processes across organisations. - FINANCE ANALYST1B-10B USDBankingReview Source
User-Friendly Interface And Real-Time Reporting Stand Out Amid Customization Limitations
Workday Financial Management is a cloud-based software that helps in financial planning and budgeting, risk management and daily reporting. During the initial stage the software seemed complex to use but was easy as time passed. Its user friendly interface makes it easy for everyone to use the software without any assistance. - DIRECTOR OF IT SERVICES50M-1B USDHealthcare and BiotechReview Source
Workday Financial Management Offers Flexibility But Faces High Implementation Costs
I help my company during all stages of software selection, in particular I lead bid competition, budget, agreement and implementation project. Business requirement AI native mode.