Workday Financial Management

Score7.9 out of 10

118 Reviews and Ratings

Community insights

TrustRadius Insights for Workday Financial Management are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.

Pros

Workforce Management Functions: Reviewers appreciate Workday Financial Management's workforce management features, including time off management, overtime tracking, pay history, and expense management. Users indicate that they appreciate being able to handle finance operations within a single platform.

Financial Management Tools: Reviewers like the software's ability to keep track of financial reports such as budgets, turnover, and fiscal year net worth, providing a convenient solution for financial management. This feature enhances decision-making and planning within organizations.

Data Security Measures: Users value the data security measures implemented in the platform, along with easy access and algorithmic data calculations that enhance the overall user experience. The robust security protocols instill confidence in users regarding their sensitive information protection.

Reviews

26 Reviews

Single page Navigation with best features and user friendly.

Rating: 9 out of 10

Incentivized

May 2, 2025

Use Cases and Deployment Scope

We are using Workday for comprehensive time sheet tracking, Skill set management, compensation and rewards management, and leave balance tracking and submission. It is very helpful to track all employee day-to-day activity features on a single page with a single click. Managing and navigating is very easy with single-step movements and SSO enabled, making it easy to access without entering credentials multiple times, while also ensuring the best security.

Pros

Compensation Management, generating merit letters.
Timesheet submission by weekly or monthly.
Skill set updating and Required trainings completion.

Cons

Payslip generation.
Making more trainings available based on employee skill.
Time submission codes copying from previous weeks or months.

Likelihood to Recommend

Suited for Learning skills as needed based on the available trainings in my learning tab, submitting the time sheets on time with proper time code selection, verifying the Leave balance, and applying the leaves is very easy with a single click, the dashboard, which shows things to do immediately, and deadlines show up.

Punnareddy Pallerla

Sr Software Engineer in Information Technology at sabre (5001-10,000 employees)

Vetted Review

10 years of experience

Verified on LinkedIn

Great overall product

Rating: 9 out of 10

Incentivized

April 30, 2025

Use Cases and Deployment Scope

Workday Financial Management is what we use as our primary ERP system. We currently use Workday for our consolidated financials as well as financial reporting platform.

Pros

Great Reporting
Easy Journal Entries
Great automated Bank Reconciliation functions

Cons

The intercompany functionality for Workday could be better.
Workday requires a lot of customization for us to get it setup to where we needed it.
Workday App could use some improvements.

Likelihood to Recommend

Overall it's a great product for Financial Reporting. Once Workday gets setup the automation and user interface are extremely easy and user friendly.

Wesley Gillean

Regional Controller in Finance and Accounting at Acrisure (5001-10,000 employees)

Vetted Review

6 years of experience

View profile

Great Software Solutions to Meet Many of Your Business Needs

Rating: 9 out of 10

Incentivized

April 29, 2025

Use Cases and Deployment Scope

Our organization utilizes Workday Financial Management across multiple departments including accounting, reporting, data management & analytics. It allows us to seamlessly connect with colleagues for instant access to pertinent information. Once users are easily setup and offered basic training on the platform, it truly is a breeze to collaborate with each other. Having everything in one place is ideal.

Pros

Access to multiple processes
Easy collaboration across departments
intuitive platform

Cons

Overall cost is somewhat high
Support tickets can take a while for a response
Windows updates sometimes affect functionality

Likelihood to Recommend

For our accounting and data management purposes, we absolutely love how Workday Financial Management allows our team to easily access all documents and reports at a moment's notice. Collaboration in our industry is crucial and when management requests specific reports, Workday Financial Mangement really rises to the challenge and provides the tools needed to succeed.

Lauren Edwards

Property Manager in Corporate at Colliers International (10,001+ employees)

Vetted Review

6 years of experience

Good for basics but you'll need add-ons to be effective.

Rating: 5 out of 10

Incentivized

April 14, 2025

Use Cases and Deployment Scope

The main problem with Workday is that it nickel-and-dimes an organization for valuable features. We're a non-profit and can only afford the basics, but the basics don't cut it. This is fine for admin finance users who want to set budgets and coordinate expenses. However, the basic Workday is very cumbersome for employees managing a budget throughout the year. It provides no visibility into current budget spending other than reports that need to be run and are a pain to understand. It's not easy. And employee on/offboarding is likely another feature we would need to pay extra for, and we limp along and deal with it manually with many mistakes.

Pros

Secure logins supported (MFA, etc.)
Messaging for supported aspects to employees.
Home page information.

Cons

Ability to better customize business processes for expense reporting.
No dashboard insights into current budget areas...only reports.
No employee on/off boarding capabilities for management.

Likelihood to Recommend

It is a decent tool for basic online/cloud financial management. However, its basics are very basic and won't really cover an organization's needs.

Verified User

Director in Information Technology (1001-5000 employees)

Vetted Review

6 years of experience

Workday Financial Management has proven time and again to be a winner!

Rating: 10 out of 10

Incentivized

June 10, 2024

Use Cases and Deployment Scope

We utilized Workday Financial Management for HR needs from PTO tracking to Payroll to employee training. It has been an essential piece of software that we implemented and our organization benefits daily from its functionality and features. Support is great as well. When needed, we receive timely responses and the successful resolutions.

Pros

HR Management
PTO Tracking
Employee Training

Likelihood to Recommend

As stated previously, Workday Financial Management allows our small business to utilize great features and functionality typically reserved for larger organizations. We are very satisfied with everything offered in our package. Having employees with direct access to their account also allows them freedom to control their own profile while taking the burden off of HR management to do so.

Tim Edwards

General Office Accounting Administrator in Finance and Accounting at Magnetic Shield Corporation (11-50 employees)

Vetted Review

3 years of experience

Workday, a life saver for people managers

Rating: 10 out of 10

April 29, 2024

Use Cases and Deployment Scope

We use Workday Financial Management as our digital one stop HR resource for all employees. It empowers our employee to self serve time off requests, salary and pay services, Pay history & pay stub view downloads, as well as common letters such as employment letter. Workday Financial Management essentially takes away the added responsibility from our people leaders by allowing teams to access info they need on whim.

Pros

Staff Self Serve for Time off, overtime, sick days
Generation of important Job Letters, Pay stubs, pay history,
Resource for all things HR, Pay, and time off.

Cons

The Search function can be a little slow at times
Tracking of Employee goals
Reminders for Employee milestones

Likelihood to Recommend

Workday Financial Management is an excellent solution for medium to large companies as it will streamline essentially all staff HR services in an easy to use platform. What is does extremely well is opening up self serve for all employees to request, review, download, print work related/financial documents. It would be less appropriate for smaller companies with less that 25 employees.

Verified User

Manager in Sales (1001-5000 employees)

Vetted Review

8 years of experience

Workday Financial Management tool and it's wonder in the organization landscape

Rating: 10 out of 10

Incentivized

March 29, 2024

Use Cases and Deployment Scope

We use Workday Financial Management tool to keep track of financial records. So far the tool has been super helpful to keep financial records such as turnover, budget, project utilities finance report of projects and so on confidential and safe storage put together in a place. The tool has benefitted our organisation to access, analyse and better our performance. Further, Workday Financial Management is such a easy platform to use and only those eligible are given acces permission for safety measures.

Pros

Keep track records of financial reports such as budget , turnover, fiscal year net worth and so on
Access the records maintained clinically through this wonder software of Workday Financial Management
Storage and safeguard of confidentiality handled

Cons

So far I have only good experience no negative capacity whatsoever
The functionality is so easier to use no problem
Features are constantly updated to user needs

Likelihood to Recommend

It is well suited for maintaining financial records, as it is a safe and confidential approach. The tool is easier to use and access so this makes it appropriate to be handled. Further, keeping all clinical records in one place. The tool is a magic wand to be considered for organization's especially those financial services.

Verified User

Professional in Information Technology (201-500 employees)

Vetted Review

1 year of experience

Workday Financial Management services for enterprise finance needs

Rating: 8 out of 10

Incentivized

March 25, 2024

Use Cases and Deployment Scope

In our organization currently we are using Workday Financial Management for many purposes for tracking employ data, track leave, conduct interviews and financial related information. here Workday Financial Management is doing great job for corporate. it's helping finance team to boost their productivity efficiency. it has many popular features like data auditing, data and accounting together, intelligent automation and customized needs of users.

Pros

data security
easy access and management
vased algorithm to calculate data

Cons

more reboust features
attractive UI

Likelihood to Recommend

I'm associated with Workday Financial Management application from beginning of my career. i know it improved lots in terms of feature ,customer base and trust. Workday Financial Management doing it job better to providing flexibility to users and many others feature help colleague to chose this one.

Verified User

Advisor in Information Technology (10,001+ employees)

Vetted Review

9 years of experience

Steep learning, then easy to use, Workday Financial integrated software.

Rating: 7 out of 10

Incentivized

March 25, 2024

Use Cases and Deployment Scope

It is a suitable ERP tool that is integrated into our different systems. It has made it easier to submit employee expense reports with necessary attachments. The cloud-based periodic save function helps with a clear audit trail. It also solved one big issue: integrating banking transactions into our purchasing and procurement departments. It is intuitive and somewhat easy to use!

Pros

Banking transaction integration for daily reconciliation.
Audit trail for expense reports.
It provides individual PDFs for each transaction if needed, with time stamp.
End-to-end support on expense report management.

Cons

The automatic save function isn't always active for the cloud version. I'm not sure if it is a glitch or a settings issue.
There are some limitations to customizations.
Updates don't go through properly on the system, leading to downtime issues.

Likelihood to Recommend

Apart from excellent end-to-end expense reporting, it is also useful for a large organization to see the analytics across the board and project as needed.

Verified User

Advisor in Research & Development (5001-10,000 employees)

Vetted Review

2 years of experience

Working with Workday.

Rating: 9 out of 10

Incentivized

March 23, 2024

Use Cases and Deployment Scope

We use it for Pay, Time, absence, and onboarding documents. Pay gives you a good overview of your contribution to provincial and federal governments. Time and absence also give a good overall view. I did face a few problems when it came to the onboarding process. There were some sections that required a mandatory response from me, but I was unable to write or submit anything.

Pros

Pay: Good overview of what is being subtracted from your pay.
Absence: It tells you how many days you will have in the future if you select a particular date.

Cons

Onboarding documents: There were a lot of mandatory options to fill out, but I was not able to select anything. For example, it asked me for two government IDs, the first one was SIN numbers which I was able to enter without any problem, but I wanted to enter my driver's license as the second ID, but I was not able to because there was no option for it.
Time: I understand that our company might have implemented this, but this section is useless for full-time employees who do not have to enter any hours. There should be an option where you should be able to choose that you are a full-time employee, and after choosing, it will automatically fill in the regular hours for you.

Likelihood to Recommend

I think its user interface is very nice. The alternatives I had to use for this were ADP and BambooHR at my previous job. I would rate this better than ADP, but BambooHR has more features. You could also see others' time off, which was a good feature.

Verified User

Employee in Finance and Accounting (10,001+ employees)

Vetted Review

1 year of experience

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