Workday Financial Management is much more than accounting. It is a cloud based suite of unified applications which focuses on speed, agility, cost, and insights into HR. These include a full range of both finance and accounting capabilities, as well as real-time insights to business, and a fully auditable process management system.

Launched in 2006, Workday was created to place the enterprise focus onto innovation and service. Workday‘s Human Capital Management (HCM), Global Payroll, Financial Management, Spend Management, and Initiatives solutions make up this multifaceted SaaS solution.

With a fast running application and intuitive interface, Workday has proven to be user friendly. Its user experience (UX) really makes it shine with many visual dashboards, graphs, and charts with great interactive features for analyzing data. Almost every data object on the interface can be changed or manipulated. Every transaction is automatically tracked as well which provides a great audit trail. The security is great, but is complex and difficult to configure.

Features

Workday Financials has many great features, several are highlighted below

• Accounting and Finance

• Revenue Management

• Management Reporting

• Expenses

• Procurement

• Projects

• Grants Management

• Mobile

• Onboarding

• Goal and Performance Management

Integration

Workday is great with third party vendors using Cloud Connect technology. Workday also supports Big Data. While Workday works with most third party vendor applications, these systems and system types are integrated with Workday”

• Oracle E-Business Suite and SAP

• Banking files

• General Ledger

• Benefit Vendors

• Learning Systems

• Retirement Savings Vendors

• Tax Filing companies

• Time Clocks

• Human Capital Management

• Payroll

• Payroll interface

• Financial Management

• Spend Management

• Account Provisioning

• AngelPoints

• Cornerstone OnDemand

• E-Verify

• Kronos

• Lumesse

• TalentLink

• Salesforce

• ADP Check Print

• Service Canada ROE

• Tax Filing

• ADP

• Ceridian

• Canada T4, T4A, and RL-1

• Payroll Interface

• Payroll Interface External Results Inbound

• SafeGuard

• Electronic Payments

• Customer Credit Card Payments

• Bank Account Statement Load

• Payment Acknowledgment

• EDI Check Print Service

• American Express

• Bank of America Visa

• Citibank Visa (CCF)

• Supplier Network

• Punchout

• Purchase Order and invoice

• Enterprise Interface Builder (EIB)

Final Words

Workday Financial Management is a functional financial services and accounting management cloud-based system. It is rich with features and has an easy to use clean interface. It really shines with its full integration ability and amazing user experience design. It literally saves every transaction and act performed for a clean, easy to read accounting for auditing purposes.