Workday Financial Management

Finance organizations operate in a complex, dynamic, and global business

Product Areas

environment. A company must operate quickly with relevant business

Core Financial Management Applications

insights to gain competitive advantage. Existing on-premise software simply

Accounting and Finance

cannot deliver these capabilities.

Financial Reporting and Analytics

Revenue Management

Workday started from a clean sheet of paper and re-invented a modern

Project and Work Management

financial management solution that leverages in memory accounting and

Expenses

analytics in a modern user experience in order to support the needs of

Procurement

businesses today, and into the future.

Grants Management
Key Benefits

Workday Financial Management is built on an adaptive, global foundation

Gain a more complete and accurate

that is seamlessly unified with the Workday suite of Enterprise cloud

picture of your business quickly.

applications. The application gives finance organizations visibility, control,

Equip executives and business managers

and consistency throughout global operations.

with relevant, contextual financial

insights available on the device of
their choice.

Seamlessly Unified, Globally Accessible

Provide best in class internal

Accounting, reporting, and governance are traditionally kept separate.

governance, apply consistent controls,

Workday Financial Management combines the three areas of financial

and reduce risk.

management into a single application. Because its built on a global core

Embrace organizational, process and

reporting changes without business

and unified with the entire suite of Workday cloud applications, you get

disruption.

more consistency and greater visibility than with other systems. You can

Provide a consistent and easy-to-use

accommodate unique business requirements around the world.

interface for all users employees,

managers, executives and auditors.

Built for a New Level of Insight

Equip your managers and executives with the information they need to
make sound business decisions. Workday allows you to capture the details
of every financial transactionincluding the who, what, where, and whyto
better serve and inform all teams, not just Finance.
NCIAL MANAGEMENT
FINA

Designed for Change

Workdays innovative technology enables you to respond as to
organizational, business-process, and reporting changes as they occur
even after deployment, without additional cost.

PROJECTS

EXPENSES

THE WAY PE
OP
FOR
LE
ED
W
GN
I
OR
ES
MOBILE

CASH

users and finance professionals to navigate the application

CONSUMER UI
ACCOUNTING

ACTIONABLE
ANALYTICS

GLOBAL
AT THE CORE

PROCUREMENT

ASSETS

Workdays simple, intuitive user interface enables business

INVENTORY

COLLABORATION
GRANTS

ADAPTIVE FOUNDATION

the Workday experience and line managers can easily access

information that impacts their day-to-day business decisions.

REPORTING

CONTRACTS

Created for Finance and Business Users

easily with minimal training. Executives will also benefit from

REVENUE
RECOGNITION

BILLING

TECHNOLOGY FOUNDATION
MULTI-TENANT

IN-MEMORY

OBJECT ORIENTED

SECURITY

EMBEDDED SERVICES
INTEGRATION CLOUD

CONFIGURABLE BUSINESS PROCESSES

SETTLEMENT ENGINE

REPORTING & WORKTAGS

GOVERNANCE & COMPLIANCE

Accounting and Finance

Workday Financial Management supports all of the
accounting and finance functionality that todays global
businesses require.
Beyond the General Ledger
Workday delivers the capabilities of a traditional general
ledger by capturing and storing richly described business
events. You can produce the same high-quality financial
accounting and reporting that a traditional general ledger
delivers, without the limitations of a rigid code-block structure.
Global requirements, including multi-currency, multilanguage, multi-book, and the other multi functions are
built into the core of the system to support organizations
that do business all around the world.

laptops, cell phones, web-conferencing accounts, and other

utility belt items for todays workers. Workday combines

This new approach to account processing allows

the traditionally separate domains of fixed assets and

organizations to significantly streamline their chart of

inventory with the ability to manage high-value, low-cost

accounts. Workday can accurately model multiple legal

items such as mobile phones and security badges. Just

entities, companies, or business units and complete

because these items are small and inexpensive doesnt

intercompany transactions easily. It seamlessly handles

mean they arent important to your business.

other key capabilities, like allocations, journal processing,

Real-Time Financial Reporting

and consolidations.

Workday Financial reports can be run at any time to

Workday has helped us evolve from

just reporting the numbers to being
able to analyze the numbers and
provide value back to the business.
TripAdvisor

gain insight into the current state of the business.

You can view real-time consolidation results, provide
timely management insight into financial reports, and
proactively make adjustments at any time. Instant access
to the business-event data directly from the transactional
system allows you to accurately calculate financial
results. The information includes drillable detail for more

Automate and Control Your Cash Flow

in-depth analysis.

Workdays unified settlement engine gives you oversight

into all transactions: spending, revenue, finance, and payroll.

Adhere, Audit, Adapt

A system that shows you real-time cash balances and

Workday reimagines the traditional model of bolt-on

transactions helps you manage resources effectively and

governance, risk, and compliance (GRC) systems that

make good decisions about funding, paying, and collecting

only marginally fulfill the various requirements around

money. By understanding inflow and outflow, you can also

the globe. Because GRC is included as a part of the core

forecast cash flow into the future more accurately.

system, your organization can efficiently and accurately

comply in all regions where it does business.

Business Assets, Big and Small

Assets used to be large, expensive, and fixed to the

The embedded Business Process Framework manages

floor. While traditional fixed-asset systems handled the

every transaction. This system captures all required

accounting of large, immobile assets, they were never

information, garners the right approvals, and ensures that

designed to help companies manage the high-value, low-

the accounting impact of every transaction is immediately

cost assets that so many businesses now rely on, such as

auditable upon approval.

Organizations can accommodate local regulations around

directly. Executives and operational managers can get

the world, increase process visibility, and reduce overall

useful business insights through Workdays innovative

risk. Your business processes, audit trails, and security

Worktags. Management reports use the same transaction

models are not outside systems.

data that goes into financial statements, but in a form

that is relevant to the parts of the business that managers

Revenue Management
Configurable processes give you a 360-degree, crossfunctional view of customers. You can configure contract

and executives handle.

Workdays financial system can keep

management, billing schedules, revenue recognition, and

pace with where our organization is

integration with any external CRM system, which helps

today and where we are headed in the

you improve customer satisfaction.

future. This change will help us focus

Holistic Customer and Contract Management

on revenue-producing programs that

Create, approve, and track your customers and customer

will continue to grow our business.

contracts to maximize visibility and minimize risk to

J.B. Hunt Transport Services

your organization. You can capture all contract changes

throughout the life of the contract, and even decouple
billing and revenue-recognition schedules.
Invoice, Collect, Audit
Workday supports various types of billing and payment
terms. It helps your organization to automate customer
invoices and to ensure their accuracy. Reduce the need
for manual intervention and minimize revenue leakage,
thanks to automated configurable billing processes.
Automate Revenue Recognition
Scrutiny over when and how much revenue can be
recognized is increasing. Workday enables you to manage
billing and revenue recognition independently so that you
can identify the correct amount of revenue at the right time.

Projects
Workday allows companies to focus on all of the critical
components that make a company successful: people,
business resources, and work. Management gains
insight into the elements that make a team or a project
successful. It can see the areas of the company that are
weak or struggling and organize ways to effectively
improve throughout the entire organization.
Workday Projects is seamlessly unified with the rest of the
Workday Suite, whereas traditional bolt-on project- or work
management systems are not. As a result, companies can
efficiently plan, staff, track, manage, and analyze what is
really needed to accomplish its key initiatives.

Configurable processes and schedules help your organization

manage revenue according to todays best practices and

Big Data Analytics for Finance

adapt to comply with changing rules and guidelines.

Organizations can use Workday Big Data Analytics to

combine Workday data with multiple non-Workday data

CRM Integration

sources. Decision-makers get comprehensive insight from

A packaged integration with Salesforce CRM provides

this combination. Unified with the rest of Workday, Big Data

visibility, automation, and accuracy from the quote to the

Analytics provides additional understanding within a single-

cash process through a bi-directional, cloud-to-cloud interface.

platform, single-security model with one user experience.

Workday also allows you to integrate to other third-party

Workday Big Data Analytics helps finance organizations

CRM solutions through the Workday Integration Cloud.

address questions in a variety of finance and accounting

areas. Analyze profitability, revenue, treasury, and cash,

Management Reporting

as well as projects, assets and depreciation, expenses,

Finance and IT are no longer the bottlenecks when

and procurement, among others.

business users receive the information that they need

Accounting and Finance

Revenue Management

Core Financials

Contracts

GL, AP and AR
Accruals and allocations
Real-time global consolidation and reconciliation
Intercompany transactions
Period close checklists for soft and hard close
Budget control and commitment accounting
Support for transaction, functional and translation
currencies

Contract and customer management

Amendment control and audibility
CRM integration including Salesforce

Banking and Cash

Bank account management and reconciliation
Single, unified settlement engine
Real-time forecasting and visibility into cash balances
Direct debits, customer credit cards, paper checks,
electronic transactions and positive pay

Billing
Automated billing
Credit card and debit payments
Project time and expense billing
Configurable billing rates rules
Reporting including aging, DSO and payment history
Revenue Recognition
Revenue and deferred revenue reporting and
forecasting
Revenue recognition schedules and accounting
Recognition by milestone, schedule or percentage

Business Assets

Project and Work Management

Tangible and intangible assets

Assets multi-book accounting and depreciation
Asset disposals and transfers
Composite and pooled assets
Rights management on assets

Project
Project
Project
Project
Project

Audit and Internal Control

Spend Management

Centralized business-process configuration

Support for global process adjustments
Configurable security-access policies
Secured data access
Separation of duties
Complete audit trail on all transactions
Configurable exception reports and alerts

Workday Expenses
Workday Procurement
Supplier contract
Supplier portal

Financial Reporting and Analysis

Single and consolidated financial statements
Real-time consolidation, elimination and currency
translation
Embedded analytics into business processes
Multi-dimensional reporting (Worktags)
Role-based dashboards
Operational reporting and profitability analysis
Financial scorecards
Predictive and prescriptive analytics

scenario planning
staffing (with WD HCM)
work schedules and budgets
costing
time and expense billing

Global Financial Foundations

Global tax engine (VAT, GST, Sales & Use Tax, Withholding)
Multi-GAAP/multi-book
Multi-chart of accounts
Global payment formats and bank statements
Local tax asset depreciation
Global consolidations

Related Financial Applications

Workday
Workday
Workday
Workday

Expenses
Procurement
Grants Management
Integration Cloud

future product pages describe announced products that are not yet generally available and contain forward-looking statements for which there are risks,
* Our
uncertainties, and assumptions. Our description of unreleased services, features, functionality or enhancements are subject to change at Workdays discretion and
may not be delivered as planned or at all. Workday assumes no obligation for and does not intend to update any such forward-looking statements. Customers who
purchase Workday services should make purchase decisions based upon currently available services, features, and functions.

Workday, Inc. | 6230 Stoneridge Mall Road | Pleasanton, CA 94588 | United States
1.877.WORKDAY (1.877.967.5329) | Fax: 1.925.951.9001 | www.workday.com
2013. Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks
or registered trademarks of their respective holders. FINANMGMT-07162013