Spruce vs. Workday Financial Management

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Spruce
Score 8.3 out of 10
N/A
Spruce is an end-to-end business management software that allows lumber, home, and building supply businesses to manage purchasing, inventory, ecommerce, documentation, delivery, accounting, and sales analytics all within a single system for increased efficiency and profitability.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
SpruceWorkday Financial Management
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
SpruceWorkday 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
SpruceWorkday Financial Management
Features
SpruceWorkday Financial Management
Security
Comparison of Security features of Product A and Product B
Spruce
9.4
Ratings
14% above category average
Workday Financial Management
9.0
Ratings
10% above category average
Role-based user permissions9.40 Ratings9.00 Ratings
Single sign-on capability00 Ratings9.00 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
Spruce
6.8
Ratings
6% below category average
Workday Financial Management
8.7
Ratings
19% above category average
Dashboards6.10 Ratings8.50 Ratings
Standard reports7.10 Ratings9.10 Ratings
Custom reports7.10 Ratings8.70 Ratings
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
Spruce
8.2
Ratings
6% above category average
Workday Financial Management
8.5
Ratings
10% above category average
Accounts payable8.50 Ratings8.90 Ratings
Accounts receivable8.10 Ratings9.00 Ratings
Journals and Reconciliations7.90 Ratings8.90 Ratings
Configurable Accounting9.00 Ratings8.30 Ratings
Standardized Processes7.60 Ratings9.10 Ratings
Global Financial Support00 Ratings8.30 Ratings
Primary and Secondary Ledgers00 Ratings8.70 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
Spruce
5.9
Ratings
29% below category average
Workday Financial Management
8.7
Ratings
10% above category average
Inventory tracking8.50 Ratings9.00 Ratings
Automatic reordering3.90 Ratings8.60 Ratings
Location management5.20 Ratings8.50 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
Spruce
8.4
Ratings
7% above category average
Workday Financial Management
9.1
Ratings
15% above category average
Pricing7.70 Ratings00 Ratings
Order entry8.60 Ratings00 Ratings
Credit card processing7.90 Ratings9.10 Ratings
Cost of goods sold7.60 Ratings00 Ratings
Order Orchestration10.00 Ratings00 Ratings
Subledger and Financial Process
Comparison of Subledger and Financial Process features of Product A and Product B
Spruce
8.0
Ratings
7% above category average
Workday Financial Management
-
Ratings
Billing Management7.60 Ratings00 Ratings
Cash and Asset Management8.00 Ratings00 Ratings
Budgetary Control & Encumbrance Accounting8.00 Ratings00 Ratings
Period Close8.60 Ratings00 Ratings
Project Execution Management
Comparison of Project Execution Management features of Product A and Product B
Spruce
7.5
Ratings
9% above category average
Workday Financial Management
-
Ratings
Task Insight for Project Managers8.00 Ratings00 Ratings
Project Mobile Functionality7.00 Ratings00 Ratings
Procurement
Comparison of Procurement features of Product A and Product B
Spruce
5.0
Ratings
32% below category average
Workday Financial Management
-
Ratings
Bids Analyzed and Compared6.00 Ratings00 Ratings
Requisitions-to-Purchase Orders Integrated4.00 Ratings00 Ratings
Manufacturing
Comparison of Manufacturing features of Product A and Product B
Spruce
7.0
Ratings
6% below category average
Workday Financial Management
-
Ratings
Configuration Management7.50 Ratings00 Ratings
Work Execution6.50 Ratings00 Ratings
Supply Chain
Comparison of Supply Chain features of Product A and Product B
Spruce
5.4
Ratings
27% below category average
Workday Financial Management
-
Ratings
Inventory Planning5.40 Ratings00 Ratings
Product Lifecycle Management
Comparison of Product Lifecycle Management features of Product A and Product B
Spruce
8.0
Ratings
11% above category average
Workday Financial Management
-
Ratings
Product Master Data Management8.00 Ratings00 Ratings
Payroll Management
Comparison of Payroll Management features of Product A and Product B
Spruce
-
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
Customization
Comparison of Customization features of Product A and Product B
Spruce
-
Ratings
Workday Financial Management
8.5
Ratings
11% above category average
API for custom integration00 Ratings8.60 Ratings
Plug-ins00 Ratings8.40 Ratings
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User Ratings
SpruceWorkday Financial Management
Likelihood to Recommend
8.1
(0 ratings)
8.9
(0 ratings)
Likelihood to Renew
-
(0 ratings)
9.0
(0 ratings)
Usability
-
(0 ratings)
10.0
(0 ratings)
Availability
8.4
(0 ratings)
-
(0 ratings)
Support Rating
-
(0 ratings)
10.0
(0 ratings)
User Testimonials
SpruceWorkday Financial Management
Likelihood to Recommend
I think my single most surprising and satisfying experience with ECI and its RockSolid Maxx and then Spruce products was the ease of implementation and rollout -- both on the hardware and software side. ECI seems to have mastered the idea of using an integrated team along with robust tutorials to make that process easy.
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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
  • We have particularly pleased with the 'Payables' part of the Spruce suite. It's easy to use and functionality is light years better than our previous software.
  • Shortly after making the switch to Spruce our business underwent a detailed sales tax audit. Spruce's reporting functions were a godsend to us as we were able to easily address the questions posed us by our auditors.
  • Our sales force is staffed by multiple people with years of construction experience but little familiarity with computer. The ease with which they mastered the POS system surprised me.
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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
  • Quick response to support tickets.
  • Access to a SPRUCE support technician when calling.
  • More support personal so you are not waiting days for a response.
  • Available support customer service when you call, even for small items.
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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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Usability
No answers on this topic
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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Reliability and Availability
For the most part when there is internet, we are able to log in and proceed to do our daily tasks which is very helpful, but we have also encountered a glitch on our laptop that we use to do inventory that switches to the last branch that was used. This, in combination with Spruce logging out of the remote connection daily, can cause issues if the person accessing Spruce does not have the remote connection password.
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No answers on this topic
Support Rating
No answers on this topic
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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Alternatives Considered
Spruce is possibly just above average. Not super impressed with usability and especially not impressed with tech support who is rarely able to answer questions on the first call.
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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
  • Solid operations.
  • Handles inventory.
  • Cloud based.
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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

Workday Financial Management Screenshots

Screenshot of a discovery boardScreenshot of financial resultsScreenshot of operational analysis