Workday Financial Management provides a unified accounting and finance solution to help organizations manage their global financial processes easily and efficiently from a single system. It offers core accounting functions, revenue management, cash management, business assets tracking, and governance/compliance controls. Reporting and analytics are available in real-time without additional business intelligence systems.

1. Workday Financial Management
Workday Financial Management is a comprehensive, unified accounting Key Features and Benefits
and finance solution, built on a global core to help you manage your
Core Finance:
financial processes around the world easily and efficiently. With unique
• Optimize your financial processes and
features including robust security, a fully auditable business process simplify your chart of accounts
framework, and multi-dimensional reporting, Workday can provide your
• Establish and enforce proper internal
organization with unprecedented controls and insight into the performance
controls; establish security access
of your business.
policies and ensure separation of duties
• Record and access a complete audit
Workday Core Finance
history of every financial transaction
Workday Core Finance can help you manage your global financial
processes easily and efficiently from a single, unified solution. • Create new reporting dimensions at any
time with Worktags
Accounting and Finance • More accurately forecast cash in-flows
Workday Accounting and Financial Reporting provides the core accounting and out-flows
functions of General Ledger, Accounts Payable, and Accounts Receivable,
Revenue Management:
along with a state-of-the-art approach to help organizations address all of
• Leverage packaged integration with
their global accounting and reporting needs for now and in the future.
Salesforce.com CRM to track new
opportunities, sales, and customers
• Get visibility into how your organization is performing
with real-time, comprehensive, consolidated financial reports • Support several types of billing models
for different types of products or
• Optimize your financial processes and simplify your chart of accounts
services
• Accommodate multi-entity, multi-book, and multi-currency
requirements for global organizations • Recognize deferred revenue
automatically and get real-time visibility
• Get full insight into transaction history through fully transparent
into future revenue forecasts
business processes and a comprehensive audit trail
• Reduce risk by establishing business
• Easily adapt and accommodate new business and regulatory
rules and conditions to comply with
requirements as they arise without additional customizations or
AICPA, SEC, FASB, and SOX requirements
technology investment for revenue recognition
Business Assets:
Management Reporting and Analysis
• Create appropriate accounting for all
Workday provides real-time management reporting and analysis without
asset lifecycle events
the use of bolt-on data warehouses and business intelligence systems.
• Automatically set up depreciation
• Equip managers with the financial information they need to make schedules upon asset acquisition. Post
better decisions for their teams and projects depreciation expense and manage
accumulated depreciation
• Generate management reports from the same transactional
data used for financial statements to get the most accurate and • Track and manage any business asset
up-to-date analysis by how it is used, including high-value,
zero-cost items

2. • Analyze data across multiple dimensions or add Workday Revenue Management
new dimensions at any time Workday Revenue Management helps organizations
• Ensure data is fully secured so managers and manage the entire contract-to-cash process for more
employees only access the information they are efficient, accurate processes and accounting results.
allowed to see
Contracts
Workday Contracts enables your organization to
Governance and Compliance
effectively create, approve, and track customers and
Workday shatters the traditional model of bolt-on
customer contracts to help maximize visibility and
Governance, Risk, and Compliance (GRC) systems by
minimize risk to your organization.
providing built-in controls throughout the system.
• Support various types of renewable and non-
• Configure business processes and approval
renewable contracts
workflows to establish and enforce proper
internal controls • Ensure appropriate personnel are involved in
managing contract lifecycle events
• Configure security access policies and ensure
separation of duties • Use strong amendment controls to capture all
contract changes and additions
• Get full audit reports on any and every transaction
processed through the system • Decouple revenue recognition from billing and
eliminate the need for spreadsheets and error-
• Respond more quickly to evolving regulations
prone manual processes
• Integrate easily with third-party contract
Cash Management management systems
Workday Cash Management can help streamline your
inbound and outbound payment and receipt processes
Billing
while giving you greater control, visibility, and
Workday Billing automates billing and collection cycles
forecasting into the lifeblood of your business.
and provides support for complex invoicing and payment
• Track and manage your business’s bank accounts terms to help your organization increase the accuracy of
customer invoices, accelerate cash flow, and shorten day
• Import and automatically reconcile bank statements
sales outstanding (DSO).
• Settle all transactions across Spend, Finance,
Revenue, and Payroll from a single settlement engine • Streamline and automate the creation of
• Process all types of electronic transactions easily invoices based on customer contract billing
terms and schedules
• Gain real-time visibility into cash balances
• Accelerate cash collection cycles and reduce
• More accurately forecast cash flow into the future
errors caused by manual processes
• Automate complex billing processes for different
types of products or services, such as Project Time
and Expense, Fixed Fee Projects, and Subscriptions
• Configure billing schedules and tie milestones to
schedule and/or individual billing installments

3. • Send spend information captured in Workday
back to Salesforce.com to track spend by opportunity
• Improve interdepartmental communication
and productivity thanks to transparency
between systems
• Reduce the administrative workload by
eliminating duplicate or manual processes
for order, billing, or renewals
Workday also supports the ability to integrate with
other third-party CRM solutions through the Workday
Integration Cloud.
Revenue Recognition Business Assets
Workday Revenue Recognition helps your organization
Workday Business Assets combines the traditionally
manage, account for, forecast, and recognize revenue
separate domains of fixed assets and inventory with
according to today’s guidelines and adapt to and comply
the ability to manage high-value, low-cost items By
with evolving rules and guidelines.
separating the accounting and tracking processes and
decisions, it allows all business assets to be accounted
• Automate the recognition of deferred revenue and
for according to accounting rules and tracked according
better forecast your business’s real-time visibility
to business use.
into future deferred revenue, revenue forecasts,
and deferred revenue waterfall reports
Business Asset Accounting
• Ensure correct personnel are involved in the
review and approval process • Create appropriate accounting for all asset lifecycle
• Allocate different revenue and billing amounts by events including acquisition, transfer, and disposal
contract element and manage them separately • Automatically set up depreciation schedules upon
• Reduce audit costs by complying more easily asset acquisition; post depreciation expense and
with standards issued by the SEC, FASB, manage accumulated depreciation
Sarbanes-Oxley, etc.
• Automate revenue recognition accounting to reflect Business Asset Tracking
VSOE, TPE, and ESP and comply with SOP 97-2, 98- • Track and manage any business asset by how it is
9, 81-1; EITF 08-01, 09-03; and SAB 101,104 used; invoke inventory management activities and
controls with the same level of physical tracking
CRM Integration traditionally available only in Fixed Asset systems
Workday provides the ability to integrate with any • Track zero-cost items that have no individually
external CRM system and leverage configurable, trackable cost but which require physical tracking
automated processes for contract management, billing
• Assign custody and responsibility by creating a
schedules, and revenue recognition. A packaged
reportable link between issued business assets
integration with salesforce.com CRM provides visibility,
and the receiving worker
automation, and accuracy across the quote-to-cash
process through a bi-directional interface. • Reclaim business assets when an employee leaves
the company
• Automatically correspond opportunities and sales
created in Salesforce.com to new opportunities and
customers in Workday

4. About Workday Financial Management All transactions are recorded, so there is a complete
audit history of what, who, when, and why that event
Real SaaS Delivery Model occurred. You can establish rules for specific tasks or
Workday provides organizations with enterprise-ready organizations to ensure that proper controls, approvals,
applications through a real, multi-tenant Software-as-a- and requirements are satisfied before an event is
Service (SaaS) delivery model, eliminating the need to buy, approved and completed.
install, and maintain databases, middleware, and more. IT
departments can then shift their focus to more strategic IT Business Processes can also be specialized for specific
initiatives, rather than spending the majority of their time regions, teams, or companies and conditional steps can
“keeping the lights on” supporting core systems. be added to handle approvals for special cases. Change
can easily be applied without coding to ensure that your
From a cost perspective, the real SaaS delivery model organization is complying with regulations including new
allows you to leverage the best technology infrastructure ones that may arise in the future.
for less than what it would cost to purchase it entirely
on your own. Faster implementations, included functional Multi-Dimensional Reporting with Worktags
updates, and predictable cost structures also contribute to Worktags are an innovative way to establish relationships
the financial advantages offered by real SaaS solutions. between certain events or records to facilitate deep
reporting and analytics relevant to your business. In
Global at the Core other words, thanks to Worktags, you will never be
Unlike many of the legacy systems, Workday is built with restricted by the limitations of a rigid code block again.
the expectation that your organization functions globally. Worktags can be applied to any transaction, and then
There is no need for multiple data centers or localized used to analyze results or reports into more detail.
implementations with Workday. Workday inherently New Worktags can be added to the system when new
supports multi-entity, multi-currency, multi-language, requirements arise.
and multi-book requirements. An adaptable global core
supports everything your business needs to manage your Built-in Actionable Analytics
company efficiently as a whole, while still adhering to Provide immediate insight through embedded analytics
local requirements. and reports right from users’ homepages. Reports can be
created and distributed without the need for an additional
Unified Platform with Built-In Security, Controls, bolt-on data warehouse or BI system. All reports are
and Reporting actionable, meaning that an activity or transaction can be
Workday is built entirely on a unified, adaptive initiated immediately from within a report. And thanks to
foundation that includes the capabilities traditionally the SaaS delivery model, information is accessible 24 ×7
provided by bolt-on Workflow, Governance Risk and and in real-time, meaning you can always keep pace with
Compliance (GRC), and Business Intelligence systems. the dynamics of your business.
Put simply, this means you won’t have to buy them
individually, implement them separately, or integrate Intuitive User Experience and Mobile Accessibility
them to work together. With Workday, they are already Using common constructs like buttons, icons, and links,
embedded and work seamlessly within the system. even the most novice user can get around with minimal
training. Workday is accessible on any device that
Business Process Framework has a browser and an Internet connection. Workday
Workday’s Business Process Framework manages also provides native iPhone® and iPad® apps that take
every transaction that occurs through the system. advantage of the features provided by the Apple platform.
iPhone and iPad are registered trademarks of Apple, Inc.
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