Oracle Fusion Cloud Enterprise Performance Management vs. Workday Financial Management

It is well suited in a geographically distributed environment where you have various key participants in multiple time zones providing input and necessary explanations on performance and measured success It is less appropriate where you have a single office environment with a single finance department working together. It is also less suited when the GL is NOT an Oracle product and the interface between the GL and the reporting software needs to be implemented with utmost care and handling.

Incentivized

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.

Incentivized

• Account Reconciliation CLoud Services provides tight integration with Oracle R12 and 11i . Provides drillback capability. It is flexible and provides rich functionality to users.
• We have implemented ARCS on cloud and migrated planning and budgeting from On premise to PBCS and EPBCS. Functionality is onpar with onpremise. Provides regular updates monthly
• We don't need to upgrades every year and saved a lot on Hardware.

Incentivized

• 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.

Incentivized

• Our implementation consultant set up all the business rules for calculations to get us live, and we may have difficulty setting up new ones going forward. We feel like that we now need to hire someone who has the technical knowledge to help us to manage the system going forward.

Incentivized

• 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.

Incentivized

We have a pretty good userbase who are at the high level who gained value from this tool. Discontinuing this tool is prone to impact their day to day operations. Also the data in this tool cannot alter the source, which maintains the integrity of this tool. Smartview is a cool addition that gained lot of traction as well.

Incentivized

It produces consolidated multi currency reports faster and more accurately whilst adding additional pivotal functionality. The Smartview reporting is a key for us and a flagstone of the application

Incentivized

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.

Incentivized

EPM has been so far available all the time

Incentivized

The product performance is so far very good

Incentivized

Support from our implementation partner is a 10/10, but support from Oracle is awful. Case in point: recently over a 2-day period, there were a series of intermittent outages. Oracle actually asked US for the outage time-stamps. I would have thought that, since we were paying them, they should probably be able to tell us!

Incentivized

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.

Incentivized

The biggest key is data validation time. If you are implementing a new chart of accounts along with Oracle Financial Consolidation and Close Cloud, you need to multiply the time you think you can perform data validation by 2. The key to managing your project timeline is managing your expectations around data validation as well. For instance, it is recommended you convert 1-3 years vs. 5 years.

Incentivized

Oracle Planning and Budgeting Cloud is one of the more robust and well-rounded EPMs on the market. It comes with robust out-of-the-box functionality which is a great benefit in comparison to its peers. The Excel integration is also top notch which Financial Analysts really appreciate. Cost is a little high and maintenance is a bit heaver than other tools so that is something to consider. The product keeps improving!

Incentivized

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.

Incentivized

The product is scalable

Incentivized

• Significantly reduced the amount of money we spent for the maintenance of in-house hardware.
• We now need less employees to manage the configurations of Oracle EPM Cloud.
• There have been many time savings as a whole to apply to more productive causes.

Incentivized

• 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

Incentivized