Ridder iQ vs. Workday Financial Management

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Ridder iQ
Score 7.8 out of 10
N/A
Ridder iQ is a manufacturing ERP, from ECI Software Solutions. Ridder iQ includes customer relationship management functionality that is fully integrated, and includes an integration with Outlook for email.N/A
Workday Financial Management
Score 7.8 out of 10
N/A
Workday Financial Management is a native cloud solution built on a global foundation designed to enable accounting teams to operate with greater productivity, superior insights, and adapt to changing business needs. Its AI embedded features improve financial business processes like record to report and opportunity to cash while strengthening internal controls, and enabling consistency across global operations. Powered by an in-memory architecture and object data…N/A
Pricing
Ridder iQWorkday Financial Management
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
Ridder iQWorkday Financial Management
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Community Pulse
Ridder iQWorkday Financial Management
Features
Ridder iQWorkday Financial Management
Customization
Comparison of Customization features of Product A and Product B
Ridder iQ
6.0
Ratings
23% below category average
Workday Financial Management
8.5
Ratings
11% above category average
API for custom integration6.10 Ratings8.60 Ratings
Plug-ins5.80 Ratings8.40 Ratings
Security
Comparison of Security features of Product A and Product B
Ridder iQ
7.9
Ratings
3% below category average
Workday Financial Management
9.0
Ratings
10% above category average
Single sign-on capability7.70 Ratings9.00 Ratings
Role-based user permissions8.10 Ratings9.00 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
Ridder iQ
7.2
Ratings
0% below category average
Workday Financial Management
8.7
Ratings
19% above category average
Dashboards7.00 Ratings8.50 Ratings
Standard reports6.30 Ratings9.10 Ratings
Custom reports8.40 Ratings8.70 Ratings
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
Ridder iQ
6.4
Ratings
19% below category average
Workday Financial Management
8.5
Ratings
10% above category average
Accounts payable6.70 Ratings8.90 Ratings
Accounts receivable6.80 Ratings9.00 Ratings
Global Financial Support5.90 Ratings8.30 Ratings
Primary and Secondary Ledgers6.20 Ratings8.70 Ratings
Journals and Reconciliations6.60 Ratings8.90 Ratings
Configurable Accounting6.40 Ratings8.30 Ratings
Standardized Processes6.20 Ratings9.10 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
Ridder iQ
6.2
Ratings
24% below category average
Workday Financial Management
8.7
Ratings
10% above category average
Inventory tracking6.30 Ratings9.00 Ratings
Automatic reordering7.00 Ratings8.60 Ratings
Location management5.30 Ratings8.50 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
Ridder iQ
7.6
Ratings
3% below category average
Workday Financial Management
9.1
Ratings
15% above category average
Pricing7.90 Ratings00 Ratings
Order entry7.70 Ratings00 Ratings
Cost of goods sold7.30 Ratings00 Ratings
Order Orchestration7.60 Ratings00 Ratings
Credit card processing00 Ratings9.10 Ratings
Subledger and Financial Process
Comparison of Subledger and Financial Process features of Product A and Product B
Ridder iQ
5.7
Ratings
27% below category average
Workday Financial Management
-
Ratings
Billing Management7.40 Ratings00 Ratings
Cash and Asset Management6.00 Ratings00 Ratings
Travel & Expense Management4.80 Ratings00 Ratings
Budgetary Control & Encumbrance Accounting4.70 Ratings00 Ratings
Period Close5.60 Ratings00 Ratings
Project Execution Management
Comparison of Project Execution Management features of Product A and Product B
Ridder iQ
5.5
Ratings
22% below category average
Workday Financial Management
-
Ratings
Project Planning and Scheduling5.00 Ratings00 Ratings
Task Insight for Project Managers6.10 Ratings00 Ratings
Definable Resource Pools5.40 Ratings00 Ratings
Procurement
Comparison of Procurement features of Product A and Product B
Ridder iQ
5.2
Ratings
28% below category average
Workday Financial Management
-
Ratings
Bids Analyzed and Compared4.90 Ratings00 Ratings
Contract Authoring5.10 Ratings00 Ratings
Contract Repository4.10 Ratings00 Ratings
Requisitions-to-Purchase Orders Integrated5.90 Ratings00 Ratings
Supplier Management5.90 Ratings00 Ratings
Risk Management
Comparison of Risk Management features of Product A and Product B
Ridder iQ
4.8
Ratings
30% below category average
Workday Financial Management
-
Ratings
Risk Repository4.50 Ratings00 Ratings
Control Management5.30 Ratings00 Ratings
Control Efficiency Assessments4.80 Ratings00 Ratings
Issue Detection4.80 Ratings00 Ratings
Logistics
Comparison of Logistics features of Product A and Product B
Ridder iQ
6.3
Ratings
6% below category average
Workday Financial Management
-
Ratings
Transportation Execution Management6.40 Ratings00 Ratings
Trade and Customs Management6.20 Ratings00 Ratings
Manufacturing
Comparison of Manufacturing features of Product A and Product B
Ridder iQ
7.6
Ratings
2% above category average
Workday Financial Management
-
Ratings
Production Process Design7.90 Ratings00 Ratings
Production Management7.40 Ratings00 Ratings
Configuration Management7.80 Ratings00 Ratings
Work Execution7.50 Ratings00 Ratings
Manufacturing Costs7.20 Ratings00 Ratings
Supply Chain
Comparison of Supply Chain features of Product A and Product B
Ridder iQ
6.2
Ratings
14% below category average
Workday Financial Management
-
Ratings
Forecasting6.20 Ratings00 Ratings
Inventory Planning6.50 Ratings00 Ratings
Performance Monitoring5.90 Ratings00 Ratings
Product Lifecycle Management
Comparison of Product Lifecycle Management features of Product A and Product B
Ridder iQ
6.1
Ratings
16% below category average
Workday Financial Management
-
Ratings
Proposal Management5.80 Ratings00 Ratings
Product Master Data Management6.50 Ratings00 Ratings
Payroll Management
Comparison of Payroll Management features of Product A and Product B
Ridder iQ
-
Ratings
Workday Financial Management
8.4
Ratings
16% above category average
Pay calculation00 Ratings8.70 Ratings
Benefit plan administration00 Ratings8.90 Ratings
Direct deposit files00 Ratings8.60 Ratings
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User Ratings
Ridder iQWorkday Financial Management
Likelihood to Recommend
7.8
(0 ratings)
8.9
(0 ratings)
Likelihood to Renew
6.4
(0 ratings)
9.0
(0 ratings)
Usability
7.0
(0 ratings)
10.0
(0 ratings)
Support Rating
6.0
(0 ratings)
10.0
(0 ratings)
Implementation Rating
5.0
(0 ratings)
-
(0 ratings)
User Testimonials
Ridder iQWorkday Financial Management
Likelihood to Recommend
The best in the complete production process. It provides the correct info in a very usable way. It is pretty good in sales, but the lack of discounts for sales goods and sales production is not ideal. On the other hand, ECI provides an excellent service for looking for custom solutions where we need them. Dutch Translation: De beste in het complete productieproces. Het biedt de juiste informatie op een zeer bruikbare manier. Het is redelijk goed in de verkoop, maar het gebrek aan kortingen op verkoopartikelen en verkoopproductie is niet ideaal. Aan de andere kant biedt ECI een uitstekende service bij het zoeken naar maatwerkoplossingen waar we die nodig hebben. This review was originally written in English and has been translated into Dutch using a third-party translation tool. While we strive for accuracy, some nuances or meanings may not be perfectly captured.
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Our primary model for budgeting revenue is centered on patient counts. Missed assumptions early in the year result in massive ramifications over the balance of the year. Workday formulas allowed us to write formulas to project the recovery of such shortfalls over a variable length of time, resulting in realistic projections for overcoming said shortfalls.
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Pros
  • Flexibility in setting budgets for specific parts of a project
  • Insight in costs (journaldetails)(bookkeeping, however not Ridder financials)
  • Sending out offers and order confirmation
  • sending out purchase orders
  • Flexibiliteit bij het vaststellen van budgetten voor specifieke onderdelen van een project
  • Inzicht in kosten (journaalgegevens) (boekhouding, echter geen Ridder financials)
  • Het versturen van offertes en orderbevestigingen
  • het versturen van inkooporders
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  • We specically wanted a cloud financial management system that we could use in China and communicate reports to the headquarters organization and roll-up reporting. It performs well.
  • It was reasonably priced since we are not a for-profit company and need the Workday flexibility for finance and accounting operations. Most of our requirements are met with this one system.
  • The system worked efficiently with the additional security we built on to keep confidential. Many reports are ready off-the-shelf or easy to develop, which is a strength.
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Cons
  • The ability to copy item lines from receipts to a BOM
  • Adding photos to comment blocks in quotes makes the system slow. The photos are added in full size instead of asking for a small version.
  • De mogelijkheid om artikelregels van ontvangsten naar een stuklijst te kopiëren
  • Het toevoegen van foto's aan commentaarblokken tussen aanhalingstekens maakt het systeem traag. De foto's worden op volledige grootte toegevoegd in plaats van dat er om een ​​kleine versie wordt gevraagd.
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  • The automatic save function isn't always active for the cloud version. I'm not sure if it is a glitch or a settings issue.
  • There are some limitations to customizations.
  • Updates don't go through properly on the system, leading to downtime issues.
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Likelihood to Renew
Its nice software but it is very, very slow in webification and integration possibilities by using api's. Untill now the programm has client-server technology unfortunately. And there are far too less no code adjustments possible.
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No answers on this topic
Usability
Ridder iQ is friendly to use. With the use of roles we can give a very good user experience to our employees; they are more in control of their tasks. Since we use Ridder iQ, the right information is available for everybody in our organization, all on demand. Dutch Translation: Ridder iQ is gebruiksvriendelijk. Door rollen te gebruiken, kunnen we onze medewerkers een zeer goede gebruikerservaring bieden; ze hebben meer controle over hun taken. Sinds we Ridder iQ gebruiken, is de juiste informatie voor iedereen binnen onze organisatie beschikbaar, direct beschikbaar.
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Workday Financial Management is an easy to use, productive software suite that really brings all departments together and improved workplace efficiency. Before we began using the software, much info was partitioned in random places that were not clearly labeled or accessible to all shareholders. We are very pleased with Workday Financial Management.
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Support Rating
Expert level of the support engineers is adequate. However in our opinion it does take a fair amount of time to respond
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Our support team has been awesome. They are extremely knowledgeable and have been able to guide us through all of the challenges we have faced. Workday's community online is also extremely helpful with many trainings and help topics that can be reviewed at your convenience.
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Implementation Rating
I didn't work here yet at the time of the implementation
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No answers on this topic
Alternatives Considered
Ridder iQ is specialized for our business and has people who bring a lot of knowledge to the table, so Ridder iQ is far more suited than a ERP solution which is not specilized in the make-industry. Furthermore, the customizability of Ridder stands out compared to solutions like ISAH. Therefore, the choice was an easy one, because knowledge and customizability are important criteria. Dutch Translation: Ridder iQ is gespecialiseerd in onze branche en heeft mensen met veel kennis in huis. Ridder iQ is daarom veel geschikter dan een ERP-oplossing, die niet gespecialiseerd is in de maakindustrie. Bovendien onderscheidt Ridder iQ zich qua aanpasbaarheid ten opzichte van oplossingen zoals ISAH. De keuze was dan ook snel gemaakt, want kennis en aanpasbaarheid zijn belangrijke criteria.
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The application data of users in the case of PeopleSoft is stored in its proprietary data storage, whereas Workday Financial Management connects to outside databases to create analytics reports. Therefore, this option uplifts the need to use Workday Financial Management as an interactive tool of business intelligence. The release model of Workday Financial Management is ahead of Oracle because it has a continual announcement of more functionality that is a very attractive incentive for our project management team for improving and developing the ongoing operational streams.
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Return on Investment
  • Implement the business rules and forces them to be applied
  • SDK is used 90% for managing all order inputs and product BOM
  • The software tends to come to an halt for changes for on premise which is required of you have software/machines communicating to/from the ERP
  • Implementeer de bedrijfsregels en zorg ervoor dat ze worden toegepast
  • SDK wordt voor 90% gebruikt voor het beheren van alle orderinputs en product-BOM
  • De software loopt vaak vast bij wijzigingen voor on-premises, wat vereist dat u software/machines hebt die met het ERP communiceren
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  • Workday has helped my employer save money over the past couple of year by tracking time of employees and how long were days looking like.
  • It has enables us to make better decisions by hiring more people instead of paying overtime to those who already work in order to have the right work/leisure balance
  • The platform has also helped us to redesign our policies after seeing when employees were clocking in and clocking out and track people who were showing up late for work
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ScreenShots

Ridder iQ Screenshots

Screenshot of Ridder IQ combines the knowledge and practical experience gained since 1982 and is built on the latest software techniques such as .NET, C# and Microsoft SQL.Screenshot of Ridder IQ includes a complete CRM system with integration to Exchange and Outlook, purchase, sales, stock and time administration, as well as document management systems, integrated report designer and an authorization system.

Workday Financial Management Screenshots

Screenshot of a discovery boardScreenshot of financial resultsScreenshot of operational analysis