At long last, your organization has made the decision to lose its outdated finance system and install Workday financials. It is a wise move since the transformation can favorablyand measurable affect profits AND drive strategy. After all, wedo dwell and work in a digital environment, and the cloud solution has provided scads of businesseswith the edge it needs to stay in the game – and thrive. In case you didn’t know, here are the benefits of Workday financial management, and more.
What is Workday Financial Management?
Workday Financial Management is a software system that takes care of organizations’ finance and accounting functions. It employsedgy technologies such as machine learning to enhance efficiencies and streamline operations, and less expensively and more accurately.
Workday uses a single system and a user-friendly interface to support multidimensional reporting, compliance and transaction, and transaction processing.Workday provides you with greater insight, more internal control and auditability, improved consolidation, and diminished closure times. In addition, it gives your operations consistency across all locations.
What are Workday Financial Management Features?
Agility is crucial in today’s business environment, and that’s at the heart of Workday’s provisions. The system allowscompanies to react fast to changes in organization, reporting, and business process. Andyour leaders get information that informs business decisions, all from their desktop or mobile device.
Workday also allows multinational businesses tomeet multinational requirements more easily and to swiftly adopt any new accounting standards. In addition, Workday standardizes global processes, providing organizations with the flexibility to meet, at the same time, the needs of certain groups, locations, and organizations.
Do I Need Help with Workday Financial Management?
Workday’s system IS terrifically effective and efficient, however, to get the most from it, you do need help launching Workday Financial Management .Issues sometimes occur when integrating Workday with other solutions, including a rise in IT costs, issues working with disparate systems and technologies, and the need for continuous maintenance and support.
You must also think about whether your company has real-time as well as on-site connectivity. You need both for Workday integration to go well.
In addition, you want to be sure that your integration platform can handletons of data flow and that there’s no cap on the number of concurrent integration processes. Otherwise, the system could disappoint at just the wrong times.
But Do I Need an Actual Deployment Partner?
Yes, you sure do. You need an implementation partner that can help you get off on a good foot and that will be there for you for continuous support.Some issues can be easily or quickly solved, so you shouldn’t wait for issues before establishing a relationship with a partner. And you don’t want your return on investment diminished by unnecessary delays that leave Workday idle.
You need a consultant – Mercer comes to mind — that provides solution expertise tools that support Workday’s deployment methodology, focuses on the customer, and provides personal attention.
Now that you know the benefits of Workday financial management and how the solution works, you can employ a partner who will help you gain deeper insights and automated financial management processes. Again, we recommend Mercer, a Workday partner of more than a decade.
Through Workday financial management, your organization can invest more time in analysis and strategy and less on transaction processing. Its intelligent system uses machine learning to uncover potential problems and issue recommendation, rendering your companymore efficient and at lower cost.