Workday is a cloud-based SaaS (Software as a Service) solution designed to provide Enterprise Resource Planning (ERP) tools to businesses of all sizes across various industry verticals. The software offers a range of accounting and administrative tools to provide businesses with real-time insights, global visibility, and predictive analytics. Workday cares about their clients’ roles when working towards the system’s development. A solitary adaptation of this solution is accessible to address the issues of diverse organizations, as Workday additionally coordinates with an enormous number of business frameworks and applications.
Workday consolidates financials, HR, planning, talent, payroll, analytics, student and more in a single unified system. The financial management solutions include accounting and finance, revenue management, reporting, and analytics, consolidate and close, revenue management, accounting center, financial planning, expenses, procurement and project accounting. Audit tools, inventory management, and grants management are also included. Among other features, users are also provided with absence management, benefits administration, as well as automated reconciliation of bank statements.
Pricing: Workday charges based on the number of modules and users on the platform. Pricing starts at $100 to $200 per employee with a minimum of the three-year contract.
USP: Its unique Prism Analytics tool enables users to upload data from other software solutions to create consolidated reports.
Product Advantages: Intuitive and easy to use functionalities. It can easily audit change logs.
Product Limitations: Too many features make it very complex and difficult to learn but it surely is worth it once you do. Expensive training.