Choosing the right human resources (HR) platform can make all the difference in streamlining operations, empowering employees, and driving organizational success.  Two industry giants—Workday and PeopleSoft—consistently top the list for companies seeking scalable and efficient HR platforms.

Workday aims to help businesses streamline administrative tasks and efficiently manage financial data. PeopleSoft, on the other hand, focuses on seamless recruitment and payroll management.

The following blog, Workday vs PeopleSoft, dives deep into the strengths, pricing, and user experiences of both platforms, helping you make an informed decision about your business’s future.

Workday Vs PeopleSoft: An Overview

Feature

Workday

PeopleSoft

Payroll Management 

Syncs HR transactions with payroll 

Continuous payroll processing 

Payroll in 60 countries 

Supports high-volume payroll processes 

Workforce Management 

Automates manual processes 

Offers shift scheduling 

AI-powered data insights 

Shift scheduling tools 

Recruitment 

Automated hiring workflows 

AI-powered hiring recommendations 

Automated job posting 

Recruitment templates 

Time Monitoring   

Geofencing tool 

Monitors employee productivity 

Analytical dashboards 

Multiple punch in and out options 

Employee Onboarding   

Tailored onboarding plans 

Custom welcome messages 

Custom onboarding experiences 

Detailed guidance for new hires 

Pricing  

A 30-day free trial  

Custom pricing 

Four pricing plans 

Pricing starts at $85/user/month 

What Is Workday?

Workday

Workday relies on the power of artificial intelligence (AI) and aims to provide comprehensive solutions to users’ administrative needs. Whether it’s payroll processing, workforce data management, or talent acquisition, the software empowers businesses to streamline all tasks, maximize productivity, and reduce errors. Task automation eliminates the hassle and makes various administrative tasks a breeze.

Unique Features Of Workday

  • Expense Management: Workday provides a comprehensive ‘Spend Management’ module that offers valuable, real-time financial data insights. Using this information, admins can analyze organizational expenditure and make data-driven decisions
  • Employee Voice: The platform helps businesses prioritize the workforce experience while empowering them to voice their opinions. This approach helps improve employee engagement and satisfaction with the company and its culture
  • Contract Lifecycle Management: This tool is powered by ‘Evisort AI’, which enables organizations to gain complete visibility at every step of their contract with any other firm or contractor

Pros And Cons Of Workday

Pros

  • The software houses HR, talent management, and time management in a single platform – helping administrators get work done easily and swiftly
  • The search functionality allows users to immediately look up and access the data they need
  • It seamlessly integrates with several platforms, allowing companies to efficiently execute varying business operations

Cons

  • Lack of reporting customization reduces administrative efficiency
  • The benefits administration tracking is a bit cumbersome

What Is PeopleSoft?

PeopleSoft

PeopleSoft is a comprehensive HR services platform, acquired by Oracle. By integrating several features into a single, unified system, it helps companies streamline payroll, employee hiring and onboarding, and workforce management. The software supports global payroll and enables admins to manage tax compliance across 60 countries.

Unique Features Of PeopleSoft

  • Pension Administration: The software allows companies to configure unlimited pension plans for employees as well as manage multiple job roles and make accurate pension calculations accordingly
  • Deep SOD Analysis: By offering a segregation of duties (SOD) analysis functionality, PeopleSoft helps administrators gain real-time visibility into employees’ different roles and make efficient role-assigning solutions as well as meet regulatory needs
  • ePay: Through ePay, PeopleSoft allows users to instantly share payroll data and essential information with employees. These real-time financial data insights help the workforce to make analytical financial decisions

Pros And Cons Of PeopleSoft

Pros

  • The software helps users automate administrative tasks and save time and resources
  • Users can generate detailed reports and effectively analyze data trends and changes
  • Administrators can easily access and manage clients’ monthly and yearly billable hours summary

Cons

  • The customization limitation may impact some of the businesses’ operational efficiency
  • The timesheet cannot be submitted without punching in the location, which can be a bit time-consuming

Payroll Management

Workday syncs HR transactions with payroll data, helping employers easily manage data and make calculated, informed decisions. Users can leverage the software's continuous payroll processing tool and run the pay cycle anytime.

Additionally, companies can generate detailed reports, analyze financial data, and evaluate loss and profit, as well as run audits to maintain legal compliance.

PeopleSoft simplifies payroll management by offering a unified solution that ensures data security and reduces manual labor. It supports payroll in 60 countries and allows companies to easily pay their remote employees and contractors.

Moreover, PeopleSoft enables admins to process high-volume payroll at any time, any day, while providing tax compliance and assistance with contractual agreements.

Winner: PeopleSoft stands out with its global payroll support in 60 countries and ability to handle high-volume payroll anytime.

Workforce Management

Companies can automate repetitive, manual processes with Workday. This gives administrators free time to focus on more important business strategies and initiatives. Moreover, the software enables users to schedule workers' shifts, which is an effective way to ensure everyone arrives on time and work is completed without delays. Companies can track the workforce's time and absences, that are greatly helpful in streamlining accurate payroll records.

PeopleSoft offers a seamless workforce management experience by providing AI-powered insights that make data analysis easier. Based on these data evaluations, admins can create shift schedules that align with employees’ shift timings and greatly reduce no-shows. One major benefit of this functionality is increased productivity and employee satisfaction with their work routine.

Furthermore, the platform assists in laws and regulations compliance while adhering to various labor policies.

Winner: PeopleSoft wins for its AI-powered insights, which enhance data-driven decision-making and boost employee satisfaction.

Talent Acquisition

Workday integrates recruitment, engagement, and employee onboarding into a single platform, offering an efficient talent acquisition solution to firms looking to expand their workforce. Collectively, these tools offer a seamless solution for both hiring managers and applicants. Recruitment automation allows recruiters to streamline workflows and hire the best match from a diverse applicant pool. The Workday AI tool, HiredScore, helps recruiters streamline the hiring process.

By leveraging PeopleSoft’s automation tools, organizations can streamline job postings, candidate screening, and interview scheduling. Admins can empower candidates to schedule interviews based on their availability and convenience.

The software provides templates and crucial recruitment data from previous hiring processes to streamline the new recruitment drive. Additionally, admins can save time and maximize their work efficiency by utilizing the AI-powered candidate recommendations of PeopleSoft and picking the best talent from a diverse applicant pool.

Winner: Workday takes the lead by offering a smooth and unified experience for both recruiters and applicants.

Time Monitoring

With an in-built geofencing functionality, Workday allows employers to precisely monitor employees' check in and out locations. The workforce can punch in and out both through the mobile application and the web version. In addition, businesses can use attendance data to make real-time, accurate payroll calculations. Last but not least, Workday helps admins monitor employees' productivity and make decisions accordingly.

PeopleSoft offers analytical dashboards, allowing admins to efficiently monitor employees’ time and attendance. Using the attendance data, employers can track and streamline other essential functions, including payroll calculations, labor costs, key performance indicators (KPIs), etc.

Additionally, the workforce can report their working time using a range of time reporters, and the recorded time is integrated into their timesheets, ensuring accurate payroll data.

Winner: Workday wins this round for its geofencing feature, which provides precise location tracking, enhancing accuracy and security in time monitoring.

Employee Onboarding

Companies can onboard new hires and help them learn the ropes with Workday. Employers can customize onboarding plans and experiences for recruits based on their job roles and qualifications. This adds to employee satisfaction and reduces turnover. Moreover, the software allows admins to send tailored welcome messages to new employees that make them feel seen and encouraged.

PeopleSoft streamlines employee onboarding by merging all the onboarding tasks into a single platform. Employers can tailor onboarding experiences based on new hires’ job descriptions, ensuring recruits gain a clear understanding of the company and their responsibilities. In addition, PeopleSoft allows admins to provide a detailed, step-by-step guide to new employees, helping them navigate the new workplace with ease.

Winner: Workday stands out with its customizable onboarding plans and the ability to send personalized welcome messages that boost employee engagement and satisfaction.

Workday Vs PeopleSoft Pricing

Workday offers custom pricing packages, allowing users to choose a plan that best accommodates their business requirements. The plans are: Workday Adaptive Planning Free Trial (For 30 Days), Workday Adaptive Planning (Custom Cost), and Workday Adaptive Planning Close & Consolidation (Custom Cost).

PeopleSoft employs a per-employee-per-month (PEPM) pricing model and offers four plans: Benefits ($85/user/month), Pension Administration ($85/user/month), Human Resources ($185/user/month), and Payroll ($225/user/month).

Disclaimer: The pricing information has been sourced from third-party websites and is subject to change.

Final Verdict

Choosing HR software that aligns with your needs and helps you streamline tasks while reducing errors and boosting growth is a big relief. Likewise, how to choose such a platform requires a bit of contemplation on the user’s end. For instance, your company's size, budget limit, and pressing needs. Based on the answers to these questions, you can easily select software that suits your organization.

Similarly, Workday can serve you best if you are a large business looking for a comprehensive HR platform. On the contrary, PeopleSoft is ideal for companies looking for global payroll and efficient talent acquisition services.