Last updated on Nov 07, 2023
Workday is a cloud-based software vendor founded in the year 2005 by Dave Duffield and Aneel Bhusri. Workday is headquartered at Pleasanton, Calif. It provides finance, HR, and planning in one cloud ERP system which enables better business performance.
They have released their first product Workday Human Capital Management in the year 2006 that enables them to manage HR functions. They have later released a financial suite called Workday Financial Management in the year 2016 that allows controlling a company's day to day financials.
Over the years, Workday has added many more components that target planning, students, learning management systems, etc. it even provides analytics capabilities on Big Data. It is now evolved as a significant competitor of ERP vendors like Oracle and SAP. Workday is widely used by leading companies like Airbnb, Netflix, National Geographic, J.B. Hunt, etc.
Want to get certified in Workday. Learn from our experts and do excel in your career with HKR'S Workday Training !
Workday has released many products that suit medium and large enterprise needs. Following are the offerings from Workday,
Workday enables planning, executing, and analyzing processes with the help of Workday Adaptive Planning. It highly increases business performance. It is based on Elastic Hypercube Technology. Financial Planning and Workforce Planning are the features of Workday's ERP.
Workday provides financial efficiency with control of financial functions like accounting, procurement, projects, reporting, and analytics through Cloud ERP software. Changes to process and reporting can be done without business disruption.
Human Capital Management
To manage HR functions like planning, recruiting, etc. and provide visibility into your workforce through Workday Human Capital Management (HCM). It helps you in managing the worker's lifecycle. We can have a view of talent, labor, and cost with an HCM application.
Workday's analytics solutions transform data into insights and enforce you to make more data-driven decisions. People Analytics and Prism Analytics are the features of Workday's analytics solutions.
From staffing to project management, Workday's PSA makes it more accessible. We can track project history, feedback, and cost to optimize staffing. We can make use of machine learning to predict attrition. It also provides contextual chat to speed up collaboration.
Workday students allow you to manage the tasks of students, faculty, and staff. We can analyze student enrollments, create and maintain courses, assignments management, financial aids, fee management, etc.
Workday Cloud Platform portfolio helps us in building new apps and extensions. Provide a single security model to protect data and help maintain governance. We can use the same components that Workday uses in building our apps.
Workday Data-as-a-Service Benchmarking compares our business performance against peers. We can filter through peers benchmarks by industry, company size, or location. It will help in improving our business by assigning resources wherever improvement is needed.
Want to get certified in Workday. Learn from our experts and do excel in your career with HKR'S Workday Training In Hyderabad !
Although Workday offers a lot of products, below is the high-level architecture of Workday to get an understanding of the services.
Access to Workday
If you already have an account, you can log in to Workday giving in login credentials here - Workday Community Login
If you do not have a Workday account, get in touch with the Workday Security Administrator in your company and get a tenant for your Workday account.
Alternatively, you can request for a community trial by giving your details at Workday Community Registration
Organizations in Workday
Organizations are created to assign workers into a group that serves a specific purpose. The organization will be structure-based, i.e. follows a hierarchy. These hierarchies enable a parent-child relationship. Supervisors can track workers and approve business processes.
We can assign roles and security to any level in the organization. The functions of an organization can be inherited down the hierarchy. A worker can be part of different organizations. The assignments in an organization are based on transactions and are used for reporting.
[Related Article: Workday Studio]
Custom Organizations in Workday
Custom organizations capture a service period in Workday. A value should be assigned to every worker in this organization. Membership rules may be created and assigned to the workers.
It provides control over hiring. We need to open a position if we want to add a worker to an organization. We can create separate hiring rules and restrictions for each position. We have to mention the number of positions that need to be filled. We can also track position history.
Jobs in Workday include both worker and position attributes. We can assign a set of hiring restrictions for each organization. The hiring restrictions defined in the supervised organization will be applied to all the jobs in it. We need to give many positions that you want to open. But we don't have to mention the number of positions to be filled.
Below are some of the features (or) modules in Workday HCM,
Other Related Articles:
As a Senior Writer for HKR Trainings, Sai Manikanth has a great understanding of today’s data-driven environment, which includes key aspects such as Business Intelligence and data management. He manages the task of creating great content in the areas of Digital Marketing, Content Management, Project Management & Methodologies, Product Lifecycle Management Tools. Connect with him on LinkedIn and Twitter.
|Batch starts on 8th Dec 2023||
|Batch starts on 12th Dec 2023||
|Batch starts on 16th Dec 2023||