Businesses rely on people for success. It’s that simple. And for people-centric businesses, virtually all spend is by, on, and for workers. Workday Worker Spend Management solution simplifies and connects the key business processes involving workers and spending—spanning the traditional silos of HR, Procurement, Expense Management, and Asset and Resource Management —to provide insight and control over spend while optimizing the company’s investment in human capital.

By Workers – Supporting worker-initiated spend

Precious dollars are spent every day by workers, for everything from expenses to day-to-day requisitions. Worker Spend Management provides a single system where workers can create and submit expense reports; it also enables approved employee self-service purchasing, whether for a new piece of equipment or to requisition services.

Worker Expenses

• Simple expense reports - Worker Spend Management provides workers a simple process for creating and submitting expense reports.
• Multiple forms of reimbursement - Workday supports both electronic reimbursement via EFT/ACH (direct deposit) and reimbursement via checks, allowing workers to select the options, accounts, and amounts that work for them.

Worker Self-Service Requisitioning

• Simple interface to promote user adoption - Getting workers to use procurement systems can be a huge challenge. Inspired by the consumer Web, Worker Spend Management provides an intuitive interface that promotes worker adoption.
• Industrial strength control - Worker Spend Management offers more than an intuitive interface. Robust internal controls, security permissions, accounting, and reporting are all built in.

Managing Expenses

• Real-time spend analysis - Managers get a multi-dimensional view of true total cost for their organization(s) and individual workers.
• Manage expenses for non-employees and applicants - Worker Spend Management provides the ability to track expenses for all workers, whether they are employees, contingent workers, or applicants.
• Workflow routings, permissions, and roles built-in - All expense-management processes share governance—roles, security, routings, and approval rules—with Workday’s Financial, Payroll, and Human Capital Management solutions, a level of control that leads directly to better management decisions.

On Workers – Equipping the worker for success

Businesses spend a substantial amount on the resources and assets—laptops, mobile phones, software licenses, etc.—to equip workers to do their jobs. More often than not, this spend is not well measured or understood, exposing companies to excessive or maverick spending.

• Integrated new employee onboarding - Worker Spend Management enables managers and HR partners to make requisitioning and provisioning a required and embedded part of the onboarding processes defined within Workday HCM.
• Establish custody relationships - Traditionally, assets and resources were tracked by physical location, but today assets are more often connected to people. Worker Spend Management creates a “custody link” between worker and resource, which establishes accountability, visibility, and control.

For Workers – Acquire needed talent and skills

Agility and adaptability are essential for companies that want to quickly retool their workforce to take advantage of opportunities or address challenges; deploying contingent workers has become an important staffing strategy. Together, Workday HCM and Worker Spend Management provide a unified solution that uniquely blends procurement and human resource management processes with functions to streamline the acquisition and management of contingent labor.

• Acquire and manage contingent labor - Worker Spend Management enables managers to source contingent labor as a natural part of the Workday HCM system instead of forcing managers to use a separate procurement system for hiring these critical workers.
• Services procurement - Worker Spend Management is designed to manage and streamline the unique processes for purchasing services, including everything from hourly services and milestone-based services to the outsourcing of non-critical tasks.