ETQ Reliance QMS vs. Workday Financial Management

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
ETQ Reliance QMS
Score 7.0 out of 10
N/A
ETQ headquartered in Burlington offers the ETQ Reliance Platform, a quality management solution designed to meet a business' unique quality needs and risks with an automated best practice-driven software solution.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
ETQ Reliance QMSWorkday Financial Management
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
ETQ Reliance QMSWorkday Financial Management
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeOptionalNo setup fee
Additional Details
More Pricing Information
Community Pulse
ETQ Reliance QMSWorkday Financial Management
Features
ETQ Reliance QMSWorkday Financial Management
Payroll Management
Comparison of Payroll Management features of Product A and Product B
ETQ Reliance QMS
-
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
ETQ Reliance QMS
-
Ratings
Workday Financial Management
8.5
Ratings
11% above category average
API for custom integration00 Ratings8.60 Ratings
Plug-ins00 Ratings8.40 Ratings
Security
Comparison of Security features of Product A and Product B
ETQ Reliance QMS
-
Ratings
Workday Financial Management
9.0
Ratings
10% above category average
Single sign-on capability00 Ratings9.00 Ratings
Role-based user permissions00 Ratings9.00 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
ETQ Reliance QMS
-
Ratings
Workday Financial Management
8.7
Ratings
19% above category average
Dashboards00 Ratings8.50 Ratings
Standard reports00 Ratings9.10 Ratings
Custom reports00 Ratings8.70 Ratings
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
ETQ Reliance QMS
-
Ratings
Workday Financial Management
8.5
Ratings
10% above category average
Accounts payable00 Ratings8.90 Ratings
Accounts receivable00 Ratings9.00 Ratings
Global Financial Support00 Ratings8.30 Ratings
Primary and Secondary Ledgers00 Ratings8.70 Ratings
Journals and Reconciliations00 Ratings8.90 Ratings
Configurable Accounting00 Ratings8.30 Ratings
Standardized Processes00 Ratings9.10 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
ETQ Reliance QMS
-
Ratings
Workday Financial Management
8.7
Ratings
10% above category average
Inventory tracking00 Ratings9.00 Ratings
Automatic reordering00 Ratings8.60 Ratings
Location management00 Ratings8.50 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
ETQ Reliance QMS
-
Ratings
Workday Financial Management
9.1
Ratings
15% above category average
Credit card processing00 Ratings9.10 Ratings
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User Ratings
ETQ Reliance QMSWorkday Financial Management
Likelihood to Recommend
8.3
(0 ratings)
8.9
(0 ratings)
Likelihood to Renew
-
(0 ratings)
9.0
(0 ratings)
Usability
-
(0 ratings)
10.0
(0 ratings)
Support Rating
7.3
(0 ratings)
10.0
(0 ratings)
User Testimonials
ETQ Reliance QMSWorkday Financial Management
Likelihood to Recommend
ETQ Reliance is great for quality systems in which different levels of personnel are accessing common documents. The user interface and basic functionality is very intuitive, and thus easy to navigate for both novice and experienced technical users. It is also great at organizing tasks and maintaining document attributes. Overall, great for the purposes of an audit. For more advanced users, it may be limited in functionality. Data analytics and related visualization is more easily done after exporting data and manipulating in third-party software programs.
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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
  • Great aggregation of actions across multiple processes in one place.
  • Relatively easy to configure to fit company-specific processes but also a good out of the box solution
  • Able support all ISO management system needs (quality, environmental, occupational health, and safety)
  • SaaS or cloud availability
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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
  • Training materials should be available for customer to modify according to its company
  • Out-Of-Box Terminology should not be rigid
  • Incident reports should mirror customers exiting format
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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
It is easy to use and covers expectations
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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
The quality of support is great. In my experience, the staff is very friendly and understanding, the timeliness is good but could use some improvement. With this software supporting a critical business need, the time window for troubleshooting issues is usually very small. Issues are typically resolved within a week, but would be more beneficial if resolved more quickly.
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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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Alternatives Considered
Prior to ETQ we were using spreadsheets and shared drives and the ability to pull information was challenging. It was a very manual process done by many people. Now, it is somewhat manually input by one or two people and the retrieval of information can be done by anyone anywhere with ease.
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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
  • We are utilizing out of box modules. which provide a platform for electronic document storage.
  • We have developed a lot of custom modules and processes with the functionalities provided by ETQ. This eliminated number of tools used by different teams in the organization.
  • We were able to reduce paper usage by documenting the processes electronically.
  • Saved a lot of manual efforts through Automation using ETQ
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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