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Workday Financial Management and Human Capital Management

Workday Financial Management

Managing the financial aspects of an organization is no easy task; it requires dedication, commitment, and patience. In situations where you need to focus on the more important things first such as searching for profitability channels, taking care of regulations, and planning strategies, it’s vital to have a seamless system for managing the financial resources of the company and gaining insights on various subjects like accounting, planning, consolidation, procurement, analytics, reporting, and projects.

With a financial management system by your side, you will be able to tackle the costs as well as expand your business at the same time.

  • Your finance and accounting teams will no longer have to worry about petty issues such as transactional control and efficiency.
  • You will attain clearer insights in your business operations.
  • The system works on all devices, thus enabling your leaders to view financial insights anywhere and at anytime.
  • No interruptions in your regular business during changes in reporting, organization, and processes.

Main Features

  • Finance and accounting management: Handle all the fundamentals of financing and accounting along with real-time insights into your business. The management process is completely auditable.
  • Automated revenue management: Decrease the chances of errors while boosting cash flow and increase the processing efficiency of the contract-to-cash lifecycle.
  • Management reporting: Your financial managers will be able to make better decisions once they have the necessary financial information.
  • Expense management: The system improves the process related to expense reporting by automating them.
  • Procurement management: The procurement process of obtaining goods and services from requisitioning to payment is streamlined in a user-friendly way.
  • Inventory management: The entire process of managing inventory is automated from receiving and tracking to cost savings.
  • Project management: You will be able to plan and track the progress of your projects as well as analyze and staff them accordingly.
  • Grant management: Gain more control over the process of grants and view grant activities through rich, comprehensive reporting.

Workday Human Capital Management

The workforce is the driving force of any business and the real reason behind its success or downfall; hence, it is crucial to establish a system that inspires, engages, and encourages talented individuals to pave the way for their success. With a seamless human capital management system, your managers can easily source, recruit, and provide them with the tools necessary for growth.

Human capital management involves understanding the needs of your workforce, so that they become the leaders of tomorrow.

Main Features

  • Human resource management: Search, recruit, train, empower, manage, and pay your employees within a single system.
  • Recruitment management: Easily source and manage your talent pool with useful analytics by your side; such insights will help you understand and guide the recruiting process.
  • Talent management: Assess and manage talent by establishing communication between managers and employers.
  • Learning: Your workforce will be able to grow by engaging themselves and having experiences that are unique and meaningful.
  • Compensation management: Create, manage, and adjust personalized compensation packages for your workforce.
  • Benefits management: You can build, manage, and update the benefits like health insurance, retirement, etc. under a single system.
  • Payroll system: All human resources transactions that impact payroll can be managed effortlessly.
  • Time management: You can manage and organize your employee’s attendance and work time.

If you are interested in establishing or supporting financial and human capital management services for your organization, Global IT Services provides workday consulting services for these modules and brings in the experts for implementation and support.

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