5 Impactful Workday® Financials 2020R2 Features
As of August 8th, we are officially in the Release Preparation Window for Workday® 2020R2! As you anticipate the scheduled Feature Release Delivery on September 12th, Makse Group wanted to share what we feel are the top Financial Features likely to have the greatest impact on Financial Management users.
1. Supplier Request and Portal Integration
With this new feature, you can utilize the Supplier Request business process to send info requests straight to suppliers via the Supplier Portal. Arduous and inefficient supplier onboarding processes can now be sped up exponentially as a result. Included is a new Supplier Administrator security domain, as well as a new “Find Supplier Events” report.
2. Credit Cards and Credit Card Transactions for Expense Payees
Countless users can rejoice in this long-awaited feature coming to fruition, effectively eliminating manual processes and sub-optimal workarounds. You can now assign credit cards directly to contingent workers and external committee members.
3. Configurable Attributes on Supplier Invoices
Now you can keep all your supplier invoice data within Workday by using configurable attributes on supplier invoices that can hold supplemental info. You can also do reporting and create custom validations with these configurable attributes.
4. Mass Maintain Purchase Items with Worksheets
You can now use Workday Worksheets for purchase items, a significant upgrade for maintaining your purchase items. This will be especially useful for users that deal with large sets of purchase items and associated maintenance.
5. Track Items and Purchases by Commodity Codes
Now you can create commodity codes to organize related goods and services. The actual structure of the commodity codes is completely up to you. Connect spend categories, purchase items, catalog items, and more.
We hope you found this information useful. While the features that come with each Workday release are exciting and full or promising improvements, they are also at times intimidating. If you are interested in a Release Review, Makse Group would be happy to sit down with you and walk through some of the features relevant to your Workday tenant, please let us know. Also, keep an eye out for our next blog post where we will touch on the top HCM features coming with Workday 2020R2.
