The ultimate measure of a business is cash. Using Workday Cash Management, companies can automate the coordination and control of cash-flow activity. Workday also automates administrative and control activities, such as bank statement reconciliation, while providing embedded business intelligence.

Consolidating Banking and Settlement

Workday uses a single settlement engine across the entire business - such as expenses, payroll, and payables - to manage the settlement process. The result is a rationalized approach to managing cash across the processes, such as procure-to-pay and payroll, that traditional enterprise applications deliver in unconnected silos. Workday Cash Management consolidates the reconciliation of cash into a single page, from which real-time payment decisions can be made. And all of this happens before payment group approval workflows are invoked and settlements are initiated.

Workday Cash Management provides:

• Streamlined Bank Statement Reconciliation. Automated loading of bank statements using BAI2, generating a worksheet to support reconciliation, and creating the resulting accounting reconciliation entries simplifies the entire reconciliation process.
• Single Settlement Engine. Workday provides a single settlement engine to cover all disbursements - including payroll, payables, and expense reimbursement - making the settlement process more efficient with increased control.
• Multiple Payment Methods. Workday Cash Management supports electronic EFT/ACH Payment Processing as well as paper checks.

Explore Workday Financial Management

Financial Accounting | Customer Accounts | Supplier Accounts | Cash Management