Datasheet
Workday Procurement Key Benefits
• Single comprehensive system for
Indirect spend can make up a significant portion of your
indirect spend management
corporate spending. In today’s business environment, building • Streamlined procure-to-pay process
a world-class procurement organization requires you to • Consumer-friendly interface for
drive cost savings and implement best practices in spend high self-service adoption
management. That’s where Workday comes in. • Reduced “maverick” spending
• Potential savings identified through
Workday addresses the unique requirements of both goods and services better spend insight
spend, and doesn’t require you to deploy multiple systems to manage it. • Stronger internal spend policies
From requisition to payment, Workday Procurement provides a single system and adherence
for the procure-to-pay process and is built for today’s global businesses. • Consistent global spend controls
End-to-end goods and services procurement.
Key Features
Workday Procurement enables you to bring user profiles, business process
• Cloud-based system for easier
controls, and analytics into one system, streamlining the entire indirect
maintenance and improved
procurement process. With everything in one place, you can establish consistency cost-effectiveness
and gain real-time visibility into spending trends across your organization. • Multisupplier punchout for
seamless purchase requisitions
Self-service supplier management. • Management spend reporting
Extend the Workday experience to your suppliers through the supplier portal, with multidimensional drill down
which allows them to maintain their personal data and specify their goods • Consistent global spend controls
and services. Suppliers can also view their purchase orders (POs), view and
load catalogs, view and respond to requests for quotes (RFQs), and view and
Results
create invoices from POs. This allows you to automate invoice processing and
• Unum: 86% reduction in requisition-
payments while improving supplier maintenance.
to-PO cycle time; 38% improvement
in on-time payments
Supplier punchout. • Broward College: 189% ROI; 50%
Connect to the supplier website or network of your choice to access a broad, reduction in questionable spend
open community of suppliers. Select the items you would like to purchase • Shelter Insurance: $650K annual
and add them to your shopping cart to create a requisition from the punchout reduction in out-of-policy spend
session. You can select from preconfigured punchout suppliers in Workday or
use the supplier network punchout connector to access other suppliers who
support the punchout standard, allowing you to access and procure goods
from multiple catalogs.
Supplier contracts.
Use your company procurement policies to enforce contractual agreements
with preferred suppliers. With Workday, you can configure business processes
within your procurement practice to validate against pricing thresholds,
and automatically generate invoices and POs from a contract or installment
schedule. Combine these capabilities with powerful analytics on contractual
spend to realize better control and standardization.
Gain insight into suppliers and organizational spend directly
from the Procurement and Supplier Accounts dashboards.
Real-time spend insights.
Workday gives you the details on who, what, when, where, and why in every
transaction. With the ability to capture and analyze data in business terms,
Workday allows you to better understand your organizational spend. These
reporting dimensions, known as worktags, provide deeper and richer reporting
capabilities than traditional procurement systems. They are always drawn directly
from transactional data in real time—not a delayed business intelligence repository.
Global controls.
Workday gives you the power to establish consistent security and controls across
your global organization. Ensure that every type of requisition adheres to the rules
and approvals set up for the organization. Specialized approvals or validation
needed by any part of your organization can be provided without a separate
deployment. Even with employee and manager self-service, each person has
visibility and rights according to their role and permissions within the organization.
Workday Procurement | 2
One system with Workday Financial Management
and Workday Human Capital Management.
Workday is the only provider of enterprise cloud applications that gives you
financial management and HR in a single system. As a result, your organization
can rely on a real-time single source of truth. When Workday Procurement
is used with Workday Financial Management, the financial and accounting
impact is instantaneous. When combined with Workday Human Capital
Management, Workday Procurement immediately updates any changes in your
organization that affect employee roles or approvals. In addition, you’ll realize
consistency across your data, security policies, and global processes for even
greater efficiency, management, and control.
WORKDAY PROCUREMENT
Goods Procurement • Create and issue requisitions and RFQs
• Item catalog search
• Side-by-side item comparison in requisitions
• Multisupplier punchout
• Buyer console for visibility and control
• Side-by-side comparison of RFQ responses
• Specify ship-to and deliver-to information at the line level on procurement documents
• Invoice creation from PO or receipt
• Internal services provisioning
Services Procurement • Use service coordinator console for manual sourcing
• See project-based milestones, deliverables, and tasks
• Fill internally or through supplier PO
• Task log entry by supplier or internal
• Create invoice from PO or task log
Supplier Management • Allow prospective suppliers to self-register through an external website
• Collaborate with and manage suppliers using the supplier portal
• Define priority-ranked suppliers for purchase items
• Categorize suppliers by various classifications, such as minority-owned business
(MBE), foreign vs. domestic, and more
• Track and manage back orders from suppliers
Supplier Contracts • Record and enforce agreements with preferred suppliers
• Implement contractual spend
• Automatically generate invoices/POs from contract or installment schedule
• Define contract renewal terms and notifications before contracts expire
• Partition suppliers by company
• Amend supplier contracts
Workday Procurement | 3
WORKDAY PROCUREMENT
Integrations • EDI supplier integrations (EDI 810, 850, 855, and 856)
• cXML format for POs and invoices
• Integration templates
• Supplier network connector
• Web services to support integrations
Spend Control • Supplier invoice retention
• Configure spend freezes and budget checking
• Requisition templates
• Configurable approval processes
• Requisition consolidation into a single PO
• PO change orders
• Two- and three-way matching
Reporting and Insight • Embedded analytics during approvals
• Real-time, consolidated spend insight
• Reporting for contract history including any amendments
• Standard reporting library and custom report writer
• Configurable procurement and supplier accounts dashboards
Global Readiness • Intercompany transaction documentation for supplier invoices
• Requisitions in foreign currencies
• Multilanguage and available translations
• Global consistency and auditability
• Business processes configurable for specific regional requirements
One System with • Immediate capture of accounting impact
Workday Financial • A single settlement engine across all financial functions
Management • Budget checking and commitment accounting
One System with • Automatic purchase requisitions for replenishment
Workday Inventory • Common item master with inventory
• Source requisition from inventory
• Unit of measure conversion
One System with • Visibility into full-time and contingent workers
Workday Human Capital • More accurate insight into workforce capacity, capabilities, and costs
Management • Automatic business process updates with organizational or worker role changes
To explore how Workday Procurement can help you, please visit workday.com/procurement.
+1-925-951-9000 +1-877-WORKDAY (+1-877-967-5329) Fax: +1-925-951-9001 workday.com
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