What is Workday?

Workday is a cloud-based vendor that specialized in Financial Management and human capital management  applications.  This vendor releases its first product in 2006.

The first product is known as Human Capital Management. In the next years, it releases various products like Financial suite, Financial management. This workday HCM has worked over years, to make the financial software more competitive with other ERP systems by adding various features like budgeting, planning, analytics as well as support for larger enterprises. In the year 2013, Worday added big data analytics, prepackaged analytics tools which combine workday from third party resources. In addition at the same time, this plaform also releaed workday student.

Its custom reporting tool released in 2014, provided multidimensional financial, operational reporting, and analysis designed to be scalable for large enterprises. In the same year, this vendor has released workday recruiting. Workday applications that launched in 2016, allow the workday users to apply predictive analysis and machine learning to workday HCM and financial data.. This workday forecasting, budgeting and planning helps to unify the HR Finanacial analytics and planning according to the vendor. In the same year, it adopted the IBM cloud for software development and testing. At the same time, it also reveals its partnership with Microsoft to integrate HCM and financials with office 365.

Workday uses to seat on a single cloud-based database to both HCM and financials to provide better integration and embedded business functions than the ERP System. Time being it added other components of HCM, talent management, and finance to its suite.  Moreover, it released the versions for specialized markets such as higher educations as well as the government.

What is Human Capital Management (HCM)?

Human Capital Management is responsible for managing the crucial properties of an organization. i.e its people.This HCM platform contains all the activities from hiring an employee to retaining them. Human Capital Management is responsible for managing all the HR activities like Financial management, Human Capital Management, performance management, planning, etc.  This platform suits best for almost all kinds of business, especially for companies that have multiple locations. This platform is a one-stop solution for onboarding, recruiting, benefits, time off and analytics, compensation benchmarking, etc.  This platform is user-friendly, global system software that offers the latest version to the customers both on the browser as well as the mobile. 

Would you like to know more feature on HCM? Visit Workday Online Course

Features and Services of the workday :

This workday has the following features and services as mentioned below:

Human Resource Management (HRM):  HRM allows companies to manage and organize their workforce effectively. Besdies the self-service functionality for managers and employees and managers, it also includes various additional features like compensation management and absence management.

Recruiting:  This platform recruiting solution helps organizations to find, share, engage and select the best internal and external candidates for the organization.  This platform is responsible for acquire true visibility through the entire talent acquisition process and can get the best talent.

Talent Management : It is the practice of searching, keeping as well as training the employees, who were best suitable and meeting the requirments as well as the goals of the company. The main objective of this talent management, is to recruit the top affordable employees where the company can achieve the maximum potential growth for the success.

Time Tracking: This feature was designed to work flawlessly with Human Capital Management, payroll as well as the work management to deliver the smooth experience through the internet as well as the mobile devices. Through this feature, it is easy for the employees to enter the time check-in (or) check out quickly on any browsers (or) a mobile devices.

Workforce planning and Analytics: This feature provides an authority to the business leaders to take the better and informed decisions regarding the business crucial issues. With this feature, it is possible to analyze the capability, cost as well as the ability of the people where the resouces  can be enhanced and the correct planning could be developed to achieve the organization business objective.

Payroll Solution: This is a flexible feature that allows you take the complete control of the payroll process, data as well as the costs. This platform provide payroll software for enterprise requirements for the US as well as the Candian Companies. Besides, it also provides a powerful calculation engine that supports unlimited pay groups where the companies can regain and act on the payroll data isntanttly when ever required.

Learning and Development: With working learning and development feature, it is possible to engage the employees at any phase of the career through learning experiences, that can be acceses on any device.  With this feature the employee can manage all the aspects of learning including the information as well as the compliance training.


The utilization of Workday platform has the following advantages:

a)This platform enables 24*7 access to the information over the secure network.

b)This platform provides an easy to use access for the routine personnel items and also to make the personal information updates.

  1. c) Worday platform allocates executives, managers and administrators ready access to the current information about their teams
  2. d) This platform simplifies and automates the entry of the academic personnel to ensure correct track and the rank were entered in the system.
  3. e) Workday platform eliminates the need to build and maintain side and departmental shadow systems
  4. f) This platform is capable of introducing new HR and the payroll features and capabilities through Workday periodical updates
  5. g) This platform is capable on working on PC’s and Mac’s
  6. h) This platform has been successfully implemented / being implemted in many places like College, Universities etc.

Likewise, there are many features of workday for many organization today. In the upcoming post of the blog, Ill be sharing the details of each feature with examples in real world industry.You can acquire the practical knowledge on workday feature from ground to the advanced level through Workday Online Training. Through this course, you will be acquiring real-time knowledge on workday .