Workday Human Capital Management is built as a single system with a single source of data, single security model, and single user experience. Workday offers organizations a cloud-based system that evolves to meet changing business needs today and into the future. The user-friendly, global system also ensures that customers are always on the latest version with up-to-date capabilities, whether they’re using Workday on a browser or mobile device. Workday HCM is part of a single system with other Workday products including Workday Financial Management, Workday Payroll (for the U.S., Canada, France, and the UK), Workday Recruiting, Workday Learning, Workday Planning, and more.
Workday Student is an end-to-end student and faculty lifecycle information system that is designed to work seamlessly with Workday Financial Management, Workday Human Capital Management, Workday Payroll, and Workday Grants Management. It unites an entire campus under a single configurable, easy-to-use application that is delivered in the cloud.
Workday Professional Services Automation (PSA) helps customers manage the entire lifecycle of their client-facing billable projects. Their sales, resource managers, project managers, and finance teams gain a single source of truth to view and act on every type of data. Rich talent intelligence helps them match the right people with the right project, while flexible billing and revenue recognition enables them to confidently accelerate business transformation. And since all Workday applications across finance, HR, and operations are part of a single system, customers can boost collaboration, increase efficiency and insight, and improve customer service. Workday’s intuitive and highly functional mobile app helps people to be more productive on-the-go and its global footprint enables companies to scale and expand to international markets with ease.
Workday Financial Management is built on an adaptive, global foundation that provides organizations with the core financial management capabilities expected from a cloud solution. It goes well beyond just managing financial processes to achieve greater insight, improve financial consolidation and reduce time to close, instill internal control and auditability, and achieve consistency across global operations. By using in-memory and an object data model, Workday has delivered a single system that supports transaction processing, multidimensional reporting, consolidation, planning, and compliance—all using a consistent user experience accessible from desktop or mobile devices.
Workday Financial Performance Management (FPM) enables organizations to perform financial consolidation, reporting, analysis, and planning without having to replace their underlying general ledgers or accounting systems of record. By marrying the financial data from their core accounting systems with the financial data model in Workday, they gain a single view of their operations across financial performance and talent, allowing them to focus on improving performance and supporting strategic initiatives. Workday FPM accelerates the benefits of deploying a cloud-based solution to the FP&A function, but also supports the controller’s function of closing the books and preparing consolidated financial reporting across the entire corporate hierarchy.
Workday Prism Analytics extends the core capabilities of Workday. Now finance and HR insights can be generated from any data source, all within Workday, and securely distributed to your entire organization. Workday Prism Analytics includes data preparation, data management, and data discovery tools.
Workday Revenue Management gives you the flexibility to manage contracts, billing, collection, accounting, and analytics all from a single system. Plus, built-in support for ASC 605, ASC 606, and IFRS 15 enables smooth migration and dual reporting.