Workday Update 6
Workday’s latest product update continues to expand on the already robust capabilities of its HCM global system of record.
Update 6 addresses the needs of today’s businesses by delivering against key business requirements—including paying for business performance and managing all worker-related spend—that are essential for success during challenging economic times.
Pay for Performance
- Base individual compensation on a combination of individual and business performance.
- Enables managers to collaborate with executive management to determine appropriate compensation for the workforce.
- Provides automated workflow to drive the review process from launch through approval.
Learn More | View Pay for Performance Demo
Worker Spend Management
- Provides organizations the ability to manage all spend on, by, and for workers.
- Extends Workday HCM to deliver expense management, contingent labor, services procurement, self-service for requisitions, resource custody, and spend analytics.
- Spend analytics and insight for management and executives, tied directly into Workday HCM.
Benefits Network
- Packaged integrations to dozens of benefits providers.
- Reduce integration costs and complexity.
- Coverage for a full range of benefits providers, including health, dental, vision, 401K, and more.
Benefits
- Automated enrollment processes for open enrollment and enrollment events.
- Improved efficiency and simplicity with default logic and configurable event framework.
Learn More | View Benefits Demo
Global
- Continued expansion of personal data localizations, including Brazil, Hong Kong, Malaysia, Mexico, Japan, and China.
- Translation capabilities including Japanese, Spanish, and Canadian French.
Financial Management
- Consolidations across financial entities enabled.
- Added financial reporting and procurement analysis capabilities.
- Robust, efficient cash management and settlement.
