What is Workday ? It is a Cloud based ERP technology that deals with the Employee life-cycle activities, starting from Hiring process, On boarding to Retirement or exit process. It includes all the day to day activities like HR, Financials, Time tracking, Learning Management etc. By providing all these at one place, workday helps the companies to Organize their Staff well.
It is an On demand Could based SAS(Software-as-a-service) software where no software installation is needed. It is a browser based application and all we need is Login credentials to get into workday and start working.
This can also be called as a No code software as all most everything is configurable except the integration part.
It has been founded in 2005 by former Peoplesoft executives to give a best Software-as-a-service in HCM & Financial areas.
As an example, Say a company has around 1000 employees where all of them works for a Banking client. These 1000 employee’s personal details & financial related details needs to be maintained. Earlier days, companies used to build their own software to maintain these details but due to the maintenance headache & growing of the functionality needs companies are looking to give out this for outsourcing . Workday is specialized in doing all these activities for that company by giving lots of features to customize and maintain. Also it gives the facility to integrate these details with external applications.
- 100% Cloud based
- Ease of Use & implementation.
- No need of software installation thus it eliminates the headache of software installation, maintenance & version upgrades.
- Workday is a Single System for Financial, Payroll, HCM, Time Tracking, Compensation and Integration.
- There is no database and the data is stored in Workday owned data centers.
- Provides facility to integrate with other applications.
- It has analytics feature as well where it uses Machine learning. AI and algorithms.
- No need to worry about software updates where everything is taken care by Workday itself.
- Very good feature that it provides is the Actionable reports that are accessible from a dashboard. These are very much helpful in taking appropriate actions based on the reports.
- More importantly it has simple User interface which is Unique globally. So where ever you go, the interface looks same.