The leading provider of cloud-based solutions for finance management, corporate resource planning, and particularly HR management is Workday. Workday’s wide range of features and capabilities have helped many companies in a variety of sectors maximize their operations. Workday ERP is the secret to more efficient business operations; it’s more than just an ordinary ERP platform.

Read on to learn how Workday can transform your company’s processes.

What is a Workday ERP System?

Workday ERP is an American software provider specializing in cloud-based solutions. Initially, Workday’s solutions focused solely on human resource management. However, it has since expanded significantly by adding various Workday ERP modules such as expense management, financial management, and other useful tools. As a result, Workday is now considered one of the top-quality ERP systems available.

Despite this expansion, the core of the Workday platform as a service remains human resource management. Therefore, its strengths lie in features related to people management, integrated with business functionalities. The software is also known for being user-friendly. Thus, even though Workday ERP is relatively young, it has quickly become popular and is widely used by many large customers and enterprises.

Customers using Workday software as a service include many businesses listed in the Fortune 1000.

Main Workday ERP Modules

Workday ERP possesses a wide range of functions relevant to various industries and fields. However, the software fundamentally includes a few core modules, as follows:

1. Workday Human Capital Management (HCM)

Workday Human Capital Management (HCM) includes applications that enable businesses to optimize operations, from human resources management to financial management, recruitment, talent management, benefits administration, payroll, and more. This is one of the Workday ERP modules suitable for medium to large enterprises across various industries and fields, such as healthcare, technology, education, manufacturing, and more.

2. Workday Financial Management

Workday Financial Management offers financial management solutions ranging from intelligent automation to reporting and analytics, helping businesses make long-term strategic decisions. This Workday ERP module allows users to gather business data through financial reporting, manage the revenue lifecycle, support accounting functions, track expenses, and conduct audits.

3. Workday Talent Management

This is one of the key modules of Workday ERP. Workday Talent Management provides reports and metrics and helps plan to easily find, attract, and retain talent.

With this module of the Workday platform as a service, companies can manage their organizations more effectively, enabling employees to track performance and improve productivity, while also offering a better workplace experience.

4. Workday Payroll and Workforce Planning

With the help of Workday Payroll and Workforce Planning, businesses can better process and track payroll, ensuring timely and consistent payments even when updating benefit plans, conducting audits, or updating financial information. This Workday ERP module not only provides the necessary configuration for payroll calculation and reporting but also diversifies payment options and enhances security measures. As a result, businesses can monitor payroll more effectively while keeping payroll data secure.

5. Workday Analytics and Reporting

If you are looking for a solution to improve business processes through reports and analytics, the Workday Analytics and Reporting module can support you. This Workday ERP module provides real-time data at various levels to meet your business needs. With the help of Workday Analytics and Reporting, you can source primary data, identify reporting functions, outline data quantities, and share data so that employees within the business are always updated. This helps in operating the business as optimally as possible.

Key to Successful Workday ERP Implementations

Just like implementing any software or platform, Workday ERP implementation comes with its own benefits and challenges. To ensure the success of Workday ERP implementation, here are some important points you shouldn’t overlook:

• Workday ERP implementation requires a detailed plan: You need a clear roadmap and a well-defined change management plan. This plan should consider all business scenarios post-Workday implementation.
• The Workday ERP implementation project requires a decisive project manager to execute the plan. In addition to driving the project forward, the manager must be able to ensure deadlines are met, take responsibility for resources, and assemble a change management team.
• Maintaining interaction with team members: Regularly interacting with team members involved in the Workday ERP implementation and updating progress will make the implementation process more effective. For example, scheduling regular team meetings allows project members to update progress frequently and outline the next steps or phases. Regular interaction also enables team members to report any risks or potential hidden errors so that the manager can address the issue promptly to avoid project disruption.
• Data accuracy: Workday relies heavily on data. Therefore, before implementing the Workday platform as a service, it’s important to spend time cleaning up existing human resource data. The cleaner the data provided to the platform, the better the platform will perform.

• Focus on change management: Ensuring employees effectively use the new software is much more challenging than configuring the system. Therefore, you need to focus on change management during the Workday ERP implementation process. You can hire a trainer, change management manager, or create high-quality instructional videos.
• Choosing the right partner: To increase the success rate of your Workday implementation project, it’s essential to research, evaluate, and select the right IT service provider that aligns with your company’s current and future needs.

How Can Luvina Help?

With extensive experience working with Workday, Luvina confidently offers a variety of Workday ERP-related services to meet the customized needs of our clients. We have over 100 experts specializing in Workday software as a service solution who can consult, implement, customize, and Workday managed service.

Some successful Workday solutions provided by Luvina include:

• Workday financial solutions streamline financial management processes for businesses. Luvina offers a wide range of Workday financial services, including Workday Financial Management, Workday Payroll Management, and Workday Spend Management.
• Workday human capital management solutions are optimized to support workforce management in enterprises. Luvina’s human capital management solutions, such as Workday Talent Management, Workday Workforce Management, and Workday Payroll Management, assist businesses in efficiently handling HR processes, improving productivity, and driving growth.

Luvina not only implements Workday but also transforms businesses.

Are you searching for a professional company providing Workday ERP solutions? Contact us for a consultation. Luvina is delighted to address all your inquiries. Partner with Luvina today to:

• – Experience high-quality services certified to ISO 9001 and CMMI Level 3.
• – Receive support and communication 24/7 in both English and Japanese, regardless of time zone differences.
• – Access IT talents from one of the countries with high-quality and cost-effective resources, especially Vietnam.
• – Ensure optimal data security with infrastructure meeting international standards.

>> See more: Top 7 Workday Consulting Firms 

FAQs

Which industries is Workday suitable for?

Workday ERP is suitable for businesses and companies in various industries, including professional services, high technology, electronic gaming, legal, healthcare, and more.

Is Workday the best HR system?

Workday is one of the most robust human resources solutions that small and medium-sized companies can use to streamline workforce management. This software is the ideal choice for managing a global workforce.

What factors influence the timeline for Workday implementation?

The timeline for Workday implementation can be influenced by various factors, such as company size, data volume, selected modules, expertise, and more. Understanding the impact of these factors on Workday ERP implementation is crucial to setting realistic goals and planning accordingly.