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Oracle is leading the way in cloud ERP. Oracle Fusion Cloud ERP has been cloud-based from the beginning, with continuous innovation delivered quarterly. It's intelligent, predictive, fully connected, and built for flexibility. You can start your transformation now, whatever your starting point, to create instant business value in the cloud.
Compare Workday's ERP solutions to Oracle Cloud ERP and see why Oracle is the better choice for you.
Workday Financial Management
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.|
|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, otherwise you will have suboptimal results.|
|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.|
|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.*|
|Support global accounting requirements||Limited support for multiple accounting methodologies including IFRS, US GAAP, and local GAAP.||Accounting grouped into logical entities, each with their own detailed accounting and costing methods.||You need an unequivocal view of the business while maintaining segregation of duties for statutory, corporate, regulatory, and management reporting needs.|
|Enable consistent accounting across systems||Complicated, 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.|
|Plan holistically||Siloed planning across financial and workforce data.||One planning tool across all line of business data.||Planning and forecasting across functions, leveraging all enterprise data, gives you a holistic view of the business.|
|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.|
|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.|
|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.|
Product comparison accurate as of July 2021.
*A thin ledger contains the segments (data elements) company/account/center, such as project and product. The number of segments is geared toward financial reporting, such as creating an income statement, balance sheet, trial balance, etc. A thick ledger contains more segments than what you need for accounting. The additional segments add more to reporting and analyses, but make the general ledger more complex. Companies often use a thick general ledger as a general purpose analytics tool. Says Deloitte, "Making a COA overly complex isn’t going to ensure an unequivocal view of the business. It will open it up to interpretation and guesswork.” A third option is a structured federated ledger ("such as the Oracle Accounting Hub and Oracle Subledger Accounting), which allows for hierarchies of companies in general ledger, each with their own segments and some shared federated segments.