Compare Oracle Fusion Cloud ERP to Workday
With Oracle's complete SaaS suite of integrated applications, you can run your entire business on a unified data model and connected processes that are updated quarterly. This means you won't have to spend your time integrating, upgrading, and managing your applications.
Oracle closes the books 2X faster than Workday*
What would you do if you could get 14 extra days?
Oracle closes its books more than twice as fast as competitors such as SAP and Workday. Since everything is integrated with Oracle Cloud ERP, we can close with a lot less labor-intensive manual reconciliation and use automation to create efficiencies using Oracle's machine-learning-based pattern recognition.
Closing the books is processing the past. The faster you close your books, the more time you can spend driving your business forward based on the latest financial data. If our competitors can't close their own books quickly, what does that say about how fast their systems can close yours?
Oracle Fusion Cloud ERP vs. Workday
If you are using Workday, ask yourself: Is Workday delivering value across your entire business—or just part of it? Are you getting the level of support and scalability your organization needs?
Oracle offers the most complete suite of cloud applications engineered to work together across finance, planning, HR, inventory, manufacturing, maintenance, order management, logistics, PLM, risk management, supply chain, and customer experience. Every 90 days Oracle delivers new functionality, such embedded AI capabilities and built-in business security, giving you new tools to unlock innovation. With the complete Oracle Fusion Applications Suite, you will have all the transactional data and analysis capabilities necessary to manage your environmental, social, and governance (ESG) practices.
Business benefits |
Workday |
Oracle Cloud ERP |
Why this matters |
|---|---|---|---|
| Access to a complete suite of cloud applications | Limited footprint: financials and HR centric. | Can extend to include inventory, manufacturing, maintenance, order management, logistics, PLM, risk management, supply chain, and customer experience. | Complete support for broad and deep operational, end-to-end processes across finance, HR, distribution, manufacturing, service, sales, marketing, and supply chain, delivered on Industry-leading technology.1 |
| Optimize business processes | Confined to finance and HR. | Processes optimized across lines of business using internal and external data sources. | Business processes must work across lines of business. You cannot fully optimize within two departments; it will lead to suboptimal results.2 |
| Manage profitability and performance | No costing capabilities and limited allocation capabilities. | Revenue and cost management handled at any business dimension. | You need to proactively manage revenue and cost across functions, including scenario planning and revenue management.3 |
| Choose the best ledger structure to fit your needs | Thick ledger only. | Choice of thick, thin, or structured federated subledger accounting. | A flexible ledger lets users decide how much data flows into the GL based on their business and reporting needs. 4 |
| Support global accounting requirements | Limited support for multiple accounting methodologies including IFRS, US GAAP, and local GAAP. | Accounting grouped into logical entities, each with its own accounting and costing method, cost granularity, and costing period, maintained in a federated process. | You need an unequivocal view of the business while maintaining segregation of duties for statutory, corporate, regulatory, and management reporting needs.5 |
| Enable consistent accounting across systems | Two-step process that requires preprocessing prior to general ledger upload. | Centrally managed accounting rules to transform, account, and post journal entries from all systems. | Enforcing accounting policies with a single point of federated maintenance ensures consistency and reduces errors and reconciliation needs.6 |
| Cost allocations and cost accounting | Absence of supply chain, manufacturing, customer, and industry operational data. | Full-cost allocation and cost accounting capabilities with supply chain, manufacturing, customer, and industry operational data directly available in an integrated environment. | Lean accounting and standard costing, activity-based, and marginal costing need cost information from all processes in your company, not just human capital management.7 |
| Plan holistically | Planning across financial and workforce data. | One planning tool across all lines-of-business data. | Planning and forecasting across functions, leveraging all enterprise data, gives you a holistic view of the business.8 |
| Streamline and simplify analysis | Financial and workforce data only: loads all data including non-financial into financials module. | Data analyzed across all modules: no need to pump all data into financials. | You shouldn't need to load data in financials to get a comprehensive view of the business.9 |
| Deploy one solution for small, midsize, and large companies | Design not suitable to handle large data volumes. May require preprocessing in Prism Analytics to condense data. | One proven, scalable solution for all company sizes: handles small and extra-large data volumes without the need to condense data. | No need to migrate to another solution when your company and data volumes grow.10 |
| Manage risk | Limited capabilities to strengthen controls using a single point of maintenance. | Fully embedded risk management capabilities based on AI and ML, managed in a single module. | Built-in risk management and data science strengthen financial controls, stop cash leaks, streamline audit, and detect emerging risks.11 |
| Integration with planning and budgeting | Two separate systems, one for financial accounting and one for planning and budgeting, with separate data models. | Two separate systems, one for financial accounting and one for planning and budgeting, with a unified data model. | A unified data model gives you the freedom to budget and forecast on different levels than the ones used to book your actuals.12 |
| Architecture | Object-model architecture. | SQL-based architecture. | A SQL-based architecture, together with Oracle Autonomous Database, offers the best data store approach for each class of data, all within the same database. Object-model architecture is complex to expand, which is why Workday introduced multiple data stores. Object-model architectures are suboptimal for reporting and analysis, which is why Workday uses Prism Analytics for analysis, effectively creating a second version of the truth. And object-model architectures often have scalability issues, which is why Workday uses Prism Analytics to condense data before updating its core financials applications. Source 13 |
| Analytics | Customer must put all data from multiple data stores into Prism Analytics and normalize it. | Fusion Analytics comes with prebuilt extract, transform, and load (ETL) to load data from applications into Fusion Analytics. It comes with ready-to-use insights that work across lines of business. Without having to code, teams can enrich analytics with ML and add additional data sources from non-Oracle systems. | Normalizing data is not a trivial step. Having data in multiple data stores creates additional steps with chances of making mistakes.14 |
| Volume processing | 440 billion transactions in one year for HCM and financials modules combined. | 363 million transactions per hour for financials alone (effectively 3 trillion per year). | The proven ability to process extremely large transactional volumes ensures that the provider can handle companies of all sizes and customers can grow exponentially.15 |
Product comparison as of July 2022.
6 reasons to choose Oracle Cloud ERP over Workday Financial Management
01Modern user experience
Natural language interactions, AI-powered recommendations, automated performance analysis and optimization, predictive scenarios. The same user experience across all devices including mobile.
02Unified data model
All data in one place and defined in one and only one way provides a 360-degree view of the enterprise. This single source of truth enables a complete understanding of the firm from multiple perspectives.
03Streamlined business process
Intelligent process automation for automated consolidation, account reconciliation, expense reporting, supply base optimization, aligning candidates with workforce needs, best-fit candidates.
04Embedded AI and ML
Continuously updated machine learning models generate predictions for any important business metric such as revenue streams or production volumes.
05Advanced risk management
Automate advanced security and transaction monitoring to strengthen financial controls, ensure separation of duties (SoD), stop fraud, and streamline audit workflows.
06Unified security
Prebuilt library of best-practice security rules, and author new rules quickly. Continuously analyze every user's security configuration to quickly identify policy violations.
Evaluating other vendors?
Check out these side-by-side comparisons to see how we can help and why Oracle Cloud ERP leads where it matters.
Take the first step to migrate to Oracle Cloud
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Sources
* Refinitiv Eikon https://www.forbes.com/sites/patrickmoorhead/2021/07/13/oracle-updates-fusion-cloud-erp-and-epm-racking-up-new-customers-in-the-process/?sh=7d9602a058df
https://www.appsruntheworld.com/customers-switch-to-oracle-cloud-apps-from-aging-legacy-systems/
1 “Oracle is currently the only provider with a near-complete suite of applications in the cloud—having spent ten years rewriting its underlying code to create Oracle Fusion Applications.” Credit Suisse, “Steps for Navigating the Path Forward in Software,” 6 September 2022.
2 https://www.workday.com/; https://www.oracle.com/a/ocom/docs/applications/erp/composability-quick-wins-in-a-world-of-change.pdf.
3 https://www.oracle.com/performance-management/profitability-cost-management/; https://forms.workday.com/en-us/quick-demos/workday-finance-for-the-business/form.html?step=step1_default; https://forms.workday.com/en-us/quick-demos/workday-finance-for-the-business/form.html?step=step2_financial
4 https://blog.workday.com/en-us/2012/tales-of-the-cloud-the-story-of-worktags.html; Sue Yen, Michiel van den Nieuwenhuizen, Charlotte Sesot, Jonetta Love, “Unlock the Value of Your Chart of Accounts,” Deloitte 2012, https://www2.deloitte.com/content/dam/Deloitte/au/Documents/audit/deloitte-au-audit-chart-accounts-0812.pdf.
5 https://forms.workday.com/en-za/quick-demos/product-preview-financial-management-overview/form.html?step=step2_financial; https://www.workday.com/content/dam/web/en-us/documents/datasheets/datasheet-workday-financial-management.pdf.
6 Jianneng Li, “Data Preparation in Workday Prism Analytics: Solving Complex Problems the Workday Way,” Medium, January 24, 2018, https://medium.com/workday-engineering/data-preparation-in-workday-prism-analytics-solving-complex-problems-the-workday-way-bc4587face88.
7 https://forms.workday.com/en-us/quick-demos/workday-finance-for-the-business/form.html?step=step1_default, workday.com, oracle.com.
8 https://forms.workday.com/en-us/quick-demos/workday-finance-for-the-business/form.html?step=step1_default, workday.com, oracle.com.
9 https://forms.workday.com/en-us/quick-demos/workday-finance-for-the-business/form.html?step=step1_default, workday.com, oracle.com.
10 “The CIO’s Guide to Data and Analytics Innovation,” Workday, 2021, https://forms.workday.com/content/dam/web/sg/documents/other/fy22-q1-us-ocio-data-and-analytics-innovation-guide-global-en-SG.pdf
11 workday.com, https://www.oracle.com/erp/risk-management/
12 https://forms.workday.com/en-za/quick-demos/product-preview-financial-management-overview/form.html?step=step2_financial, https://www.oracle.com/uk/business-analytics/fusion-analytics/
13 https://view.ceros.com/workday/chapter-2-workday-architecture-1/p/1, https://www.oracle.com/explore/xapps/idc-next-generation#page=1
https://blogs.oracle.com/modernfinance/post/workday-is-not-an-erp-solution-and-thats-an-issue
https://docs.oracle.com/database/121/LNPLS/overview.htm#LNPLS001
https://docs.oracle.com/en/database/oracle/oracle-database/19/adobj/advantages-of-objects.html
https://docs.oracle.com/database/121/SQLRF/sql_elements001.htm#SQLRF0021
https://www.tutorialride.com/software-architecture-and-design/object-oriented-architecture.htm
https://medium.com/workday-engineering/exploring-workdays-architecture-73c5dbbffc35
https://workday.wd5.myworkdayjobs.com/en-US/Workday/job/USA-CA-Pleasanton/Principal-Principal-Software-Engineer---Database-Engineering_JR-52680
https://forms.workday.com/en-us/webinars/building-organizational-agility/form.html?step=step2_default
https://www.workday.com/content/dam/web/en-us/documents/datasheets/datasheet-workday-security.pdf
https://speakerdeck.com/elastic/how-workday-search-built-their-metrics-pipeline-with-the-elastic-stack
https://www.workday.com/content/dam/web/en-us/documents/datasheets/datasheet-workday-prism-analytics.pdf
https://www.g2.com/compare/amazon-simple-storage-service-s3-vs-workday-hcm
https://www.dbms2.com/2010/08/22/workday-technology-stack/
https://www.adaptiveplanning.com/uk/products/technology-platform
https://scoutdocs.zendesk.com/hc/en-us/articles/115014911868-Scout-Cybersecurity-FAQ
https://zimit.io/features/
https://blog.workday.com/en-us/2021/what-is-erp-system-why-workday-different.html
14 https://medium.com/workday-engineering/exploring-workdays-architecture-73c5dbbffc35, https://www.oracle.com/a/ocom/docs/qa-for-fusion-erp.pdf. Paul Esherwood, “Workday results top revenue estimates but fall down at profit, again,” ERP Today, March 2, 2022
15 https://erp.today/workday-results-top-revenue-estimates-but-fall-down-at-profit-again/; Oracle, Spotlight on Financials Cloud, https://www.oracle.com/webfolder/technetwork/tutorials/tutorial/cloud/spotlights/Spotlight_Financials_R13_update_18A.pdf.