Selecting the right human resources (HR) software can be a game-changer for your organization. It can maximize work efficiency, streamline various administrative operations, and ensure compliance. However, given the plethora of options available, choosing the best fit for your organization can be a bit overwhelming.
The two leading names in the HR landscape are Paycom and Workday. Both platforms offer comprehensive features to streamline administrative tasks and save resources. Let’s read this detailed Paycom vs Workday blog to dive into their details and discover how these platforms help employers manage various HR tasks.
Paycom Vs Workday At A Glance
Feature
Paycom
Workday
Talent Management
Offers 360-degree reviews and effective goal monitoring; AI integration enhances work efficiency
Ensures upskilling, succession planning, and employees’ development and growth
Payroll
Offers employee self-service portal for payroll management; custom reports for accurate data analysis
Intuitive user interface for smooth experience; customizable dashboard powered by AI
Offers AI-powered tools, personalized dashboard, self-service functionality, and natural language prompts
Analytics And Reporting
Offers custom reports, monitors KPIs, and visual dashboards for effective data analysis
Pre-built templates, real-time data insights, blends data from multiple sources to facilitate strategic decision-making
Mobile App
Allows benefits administrators, payroll processing, and automatic notifications alert administrators
Facilitates payroll management, budget tracking, and biometric login for secure data access
What Is Paycom?
Paycom is an efficient HR platform designed to help businesses manage key tasks, from hiring and onboarding to payroll processing and benefits administration. Employers can save time and resources by automating various functions, while ensuring law compliance and data security.
The software empowers employees to access and manage their payroll status and make any necessary changes before it is run. Additionally, Paycom is ISO-certified and keeps user data secure from security breaches.
Unique Features Of Paycom
Payroll Tax Management: The software automatically debits federal, state, annual, and quarterly payroll taxes. Companies do not need to calculate taxes or worry about IRS deadlines as Paycom streamlines it all
Position Management: Paycom helps manage the entire employee lifecycle and provides clarity about job roles, salary, and workflows. It scales with the increasing workforce and makes accrual data management seamless
Time Clocks and Terminals: Employees can clock in and out through web-based clocks or physical devices. Paycom automates time tracking, monitors staff's punch details, and archives records
Personnel Action Forms: The platform's Personnel Action Forms (PAF) functionality streamlines employees' status change across its database. HR gets notified whenever someone uses Paycom to make such changes, thereby saving their time
and resources
Who Are The Main Users Of Paycom?
Paycom caters businesses across various sectors and industries, including:
Education
Manufacturing
Healthcare
Retail
Hospitality
Pros:
Efficient integration of HR services and payroll processing streamline all related tasks, reducing manual effort
Customer support representatives provide immediate assistance and ensure customers have a smooth experience
Provides great configuration capabilities and users can customize the software as per their requirements
Cons:
Tracking travel reimbursement expenses for W2 forms and 1099 employees can be challenging
No international customer service to accommodate global workforce
What Is Workday?
Workday is a diverse enterprise management software that streamlines financial management, HR functions, and other administrative tasks for businesses of all sizes. By unifying multiple systems into one, Workday enables companies to maximize operational efficiency and make data-driven decisions.
The software offers advanced tools for talent and finance management, as well as data handling, helping businesses maintain compliance, reduce costs, and foster growth. Workday is trusted globally by renowned users, including Bank of America, Toyota, Shutterstock, LinkedIn, Rolls-Royce, and Airbnb.
Unique Features Of Workday
Spend Management: Companies can streamline contracts management, suppliers onboarding, and track sourcing events. Workday offers real-time insights that help employers monitor workflows and spending budget
Human Capital Management (HCM): It provides an HCM suite that covers everything from hiring and onboarding to talent acquisition and workforce management, allowing businesses to monitor employee performance and payroll
Financial Planning: The software automates core accounting processes, such as procurement and supplier invoices, and provides real-time financial visibility. This makes it easier for companies to manage financial transactions and stay
compliant
Employee Experience: The platform allows companies to deliver tailored experiences that evolve with the workforce's needs. It captures employees’ sentiments, helping organizations to drive an impactful change in productivity and engagement
Who Are The Main Users Of Workday?
Workday serves companies operating in diverse industries and sectors, such as:
Manufacturing
Information technology (IT)
Healthcare
Finance
Telecommunications
Pros And Cons Of Workday
Pros:
Streamlines employers’ activities by centralizing all HR tasks in one system
Comprehensive report generation tool that provides immediate and detailed reports on essential information
Organizes all data in tabs that make navigation easier, and users can easily access any information
Cons:
The absence management tool is a bit clunky, and managers cannot overview the leave data
The software does not auto-save passwords
Paycom Vs Workday – Key Feature Comparison
Talent Management
Paycom streamlines end-to-end employee lifecycle. It integrates job postings, applicant tracking, and workforce communication in a centralized platform. Features like goal monitoring, 360-degree reviews, and skills evaluation foster career
growth. Its personalized workflows ensure staff’s alignment with company goals.
Workday offers diverse tools for workforce development, succession planning, and skills monitoring. Functionalities like customized career planning and continuous performance feedback facilitate growth and talent retention. Integrated artificial
intelligence (AI)-powered tools identify skills gaps and recommend development opportunities, ensuring teams are upskilled to meet future requirements.
Winner: By offering 360-degrees reviews and custom workflows, Paycom wins this round.
Payroll
Paycom is equipped with in-house Beti functionality, which automates payroll processing by searching live workforce data and self-starting payroll periods. It notifies both the employees and administrators of pending payroll processes.
It offers a centralized system and personalized reports that streamline multi-state payroll and year-end filings.
Workday supports global payroll processing and offers advanced compliance with local labor laws and tax regulations. Real-time payroll calculation ensures accurate previews before processing, while detailed audit trails ensure transparency.
This feature integrates with Workday HCM for automatic updates across workforce data, eliminating errors and increasing efficiency.
Winner: Workday can be crowned as the winner here, too, because of its global payroll support; although Paycom is equally efficient in offering an employee self-service portal, it lacks global support.
User Experience
Paycom focuses on simplicity with a user-driven interface that allows workers to manage and update their personal information. It provides various features, such as intuitive navigation, drag-and-drop functionality, and customizable dashboards
that cater to diverse user requirements. The software’s AI-driven suggestions and task notifications enhance productivity.
Workday provides customizable dashboards, self-service tools, and AI-powered search functionality that ensure a smooth user experience (UX). Tools such as natural language prompts and intuitive navigation streamline workflows. Additionally,
its adaptable interface ensures compatibility with all devices, thereby maximizing productivity.
Winner: is the winner here because of data analysis, which helps administrators predict future trends and make informed decisions.
Analytics And Reporting
Paycom blends analytics with on-demand, custom reports that highlight compliance metrics, payroll trends, and staff performance. Paycom’s efficient data updates and visual dashboards help employers monitor key performance indicators (KPIs)
and support data-driven decision-making.
Workday integrates pre-built templates and personalized dashboards to deliver actionable insights. Its advanced analytics and real-time data access enable businesses to foresee trends and respond accordingly. Additionally, Workday Prism
Analytics facilitates data blending from various sources, leading to effective evaluation of workforce performance.
Winner: Again, Workday This one ends in a draw. Both ADP and PrimePay offer powerful benefits administration capabilities but don’t have them included in the basic package.
Mobile App
Paycom's mobile app delivers efficient functionality, from clocking in and budget tracking to benefits administration and payroll analysis. Its automatic notifications alert employers about pending tasks, while biometric authentication
ensures safe data access. With features like paycheck assessments and time-off requests, the application maximizes employee engagement.
Workday's mobile application offers comprehensive tools for employee management, payroll analysis, and budget reporting. Its biometric login and single sign-on (SSO) functionality ensure secure and easy access to data. Administrators can
perform tasks like approvals, time monitoring, and workforce management and ensure efficiency on the go.
Winner: Paycom is the winner here for offering a mobile app that focuses on workforce engagement and automatic notifications for remaining tasks.
Final Word
The choice between Paycom vs Workday narrows down to your business requirements and future objectives. For organizations that are looking towards HR and payroll processing automation, Paycom is an ideal choice. However, for businesses that need to manage human capital and finances, Workday could best serve your needs.
