Workday Financial Management Features You Need to Deploy Now

If you’re currently a Workday Financial Management client, or if you’re considering becoming one, you’ll want to learn more about the available Workday Financial resources.

Make the Most Out of Your Workday Financial Management Resources

Using a powerful software like Workday will help set up your company’s finance and accounting teams. Here are some Workday Financial Management features that can be utilized immediately for sustainable impact.

Accounting Center

Accounting Center takes large volumes of transactional data from previously disparate systems and turns it into accounting transactions. For example, retail point of sales data can be enriched, mapped, and posted as accounting transactions into Workday’s general ledger. Workday’s reporting tools enable you to drill-down and analyze this transactional data directly from financial statements and other financial reports.

Projects

A simple term for a complex merging of a company’s workforce, expenses, time tracking, and financial management. Avoid the pitfalls of siloed business units and sync data across departments for effective project management. Whether you are a professional services organization that needs to track time and expenses to accurately invoice your customers, or your organization needs to track the costs associated with capital projects, Workday Projects will meet your organization’s needs.

Audit and Internal Controls

Audits conjure up images of being buried in a pile of papers, trying to make sense of a jumble of numbers. Not these days! Workday possess the functionality of auditing to be “always on” so that if your system detects errors or something amiss in the workflow, key stakeholders will get an immediate alert and can intervene before a small mistake becomes many. This allows employees to spend less time entering data and more time on analysis as the Machine Learning (ML) functionality of Workday spots anomalies, and even begins learning how to fix them.

Maximizing Workday Financial Management Resources with ERPA

Whether you’re using the Workday Financial Management resources we’ve shared above, or just found out about them, ERPA is here to help with any configuration and optimizations your organization may need to keep things humming along. Just fill out the form below and we’ll be in touch.