SPEND MANAGEMENT

Control Your Costs, Control Your Business

Companies spend a significant portion of their operating costs on goods and services. Studies have shown that bringing this spend under management can yield a savings of between 5% to 20%. Organizations often face a number of challenges when they attempt to manage this spend:

Adoption: Employees do not know where to access or how to use the system or even which system to use.
Insight: Spend Analysis contains stale or incomplete information and is accessible only to a limited set of users.
Control: Management struggles to enforce spend policies when the tools used to implement control are not flexible or robust.

Workday Spend Management combines expenses, procurement, and resource tracking capabilities in a solution that solves the problems associated with adoption, insight, and control. Leveraging Workday Human Capital Management (HCM) streamlines adoption since organizations, roles and workers are immediately available in the system. Couple that with built-in business analytics and spend insight can be deployed to the right users using real time data. A powerful Business Process Framework uses this same insight to create spend controls that enforce company policies. All of this in a single solution built to handle the specific requirements associated with both goods and services spend. Workday Spend Management works in conjunction with Workday Financial Management or can be integrated to your existing financial management solution.

Datasheet: Workday Spend Management Datasheet

Procurement >>

Workday Procurement supports and manages the information, policies, and processes relating to the acquisition of goods, services, rights, and contract labor for your organization.

Supplier Management >>

Workday Supplier Management helps you effectively manage your vendors while providing comprehensive supplier information to people across your organization.

Resource Tracking >>

Workday Resource Tracking helps companies track and manage any business resource according to how it's used in the business.

Expenses >>

Workday Expenses provides an fully integrated expense system with a modern, intuitive user experience along with solid administrative functionality to control spend and monitor expense reports.

Settlement >>

Workday provides a robust settlements engine for reimbursing your employees or contingent workers in a payment method specific to each individual worker.