International companies such as Johnson & Johnson, Prada, and Cisco rely on enterprise resource planning (ERP) solutions like IFS Applications ERP and Workday ERP to manage different business departments efficiently. ERP solutions let businesses handle important parts of a business, including inventory and order management, accounting, human resources, and customer relationship management (CRM), using one integrated software.
IFS Applications ERP is a widely-used ERP software with over 10,000 customers all over the world. The majority of its users come from the service and asset management, manufacturing, and supply chain and project industries. Workday ERP is a frontrunner in enterprise-class ERP solutions for managing global businesses, combining a lower cost of ownership with an innovative approach to business applications.
In this article, we’ll compare some of the key features of IFS Applications ERP and Workday ERP to give you an idea of how each ERP software can help you manage your business better. If you want to explore more than two ERP solutions, use our Product Selection Tool. You’ll get a list of trusted ERP software vendors for free.
IFS Applications ERP vs. Workday ERP: An overview
IFS Applications ERP is a versatile and full-featured ERP suite best for global businesses that manufacture and distribute goods, maintain assets, and manage service-focused operations. It has features for financials, human capital management, engineering, projects, manufacturing, supply chain, and sales and services. This ERP is ideal for mid-sized to large corporations. If offers high-end prices.
Workday ERP, or simply Workday, is a cloud-based software vendor that specializes in human capital management and financial management applications. Workday Inc. does not officially consider Workday solutions as ERP. However, it is widely considered to be in direct competition with ERP vendors because of its capabilities and features. Workday’s features include performance management, procurement, payroll, career and development planning, recruitment, purchase orders, real-time spend analytics, and revenue management. This ERP is suitable for mid- to large-scale businesses as well. It has high-end pricing.
IFS Applications ERP vs. Workday ERP both have features for human resources, financial management, and mobile access.
The human resources feature from IFS Applications ERP is a comprehensive integrated toolkit that supports the people lifecycle from attracting talent through development and allocation to offboarding. The software allows the HR team to handle everything using a single system — including recruiting, onboarding, career planning, development, training, requirements like health and safety, time and attendance, travel management, and payroll. IFS Applications ERP enables businesses to identify, attract, and retain the right people. The software comes with self-assessment capabilities, recognition of objectives, and performance measurements, as well as feedback and managerial guidance.
Workday ERP helps businesses know their workforce, inside and out. The software lets HR teams manage various aspects of human resources, including planned hires, employee skills, attrition, and contingent workers. Businesses can administer and adjust plans, packages, and eligibility rules with ease with Workday. The system brings benefits and employee transactional data into the same system, so any change flows seamlessly into payroll. With this ERP’s self-service capability, users can request time off, view payslips, and make payment elections.
With IFS Applications ERP, finance teams can have accurate and timely accounting information for reporting and decision making. The system has integrated ledgers so teams can manage and audit financials throughout the accounting cycle. This ERP software also has features for revenue and milestone billing schedules, cost and income statements, project cash control, and statutory compliance for traded revenues and margins.
Workday ERP offers one suite for financial accounting and reporting, enabling financial teams to run their accounting and finance processes smoothly. This software has real-time accounting so teams can immediately spot and address anomalies. Through this ERP, financial teams can set up suppliers, manage invoices, process approvals, and automate payments. Teams can manage accounts payable and the entire revenue lifecycle. The software can automatically create an expense item and add it to the system when users take a picture of a receipt.
IFS Aurena is IFS’s new state-of-the-art browser-based user experience that allows users to access IFS Applications ERP using their mobile devices. IFS Aurena is designed to work on mobile devices, allowing virtually any task to be performed on tablets and phones. Users can quickly perform tasks when they’re not logged into the application itself through the IFS Aurena Bot. With the bot feature, users can check future team availability, book leaves, or check stock levels. It lets the users perform a subset of everyday tasks, using natural language, text, or voice in a conversational manner. IFS Aurena also has a built-in page designer that allows users to easily configure page layouts, application navigation, and other aspects of the user experience. The system lets users configure custom fields, custom commands, and custom events.
Workday ERP can be accessed through mobile browsers, too. However, this software has a mobile application that can be downloaded from the App Store and Google Play Store. Users can submit requests for time off or expense reports, check on projects, and enter time spent on activities in real time through the mobile app. They can also keep up with their current work tasks and browse dashboards and reports. Managers can view team calendar activities or review information on team compensation or performance management. They can also drill into individual details about each employee to stay up to date with the team members even when they’re out of the office.
IFS Applications ERP seamlessly integrates with applications for file sharing, pricing, business performance management, financial reporting, and product information management:
- Microsoft 365
- Configure One
- Mercur Business Control
- TrueCommerce PIM
Workday ERP has built-in integrations with solutions for employee engagement, expense management, invoicing, applicant tracking, and project management:
- SAP Concur
The ERP software for your business
IFS Applications ERP and Workday ERP have many similarities: both are designed for mid-sized to large businesses, both are in the same price range, and both are user-friendly. In choosing the ERP for your business, the better-suited software would boil down to the specific features you want.
For example, IFS Applications ERP has features built particularly for the Aerospace and Defense industry, such as aircraft maintenance and engineering. This feature aids in optimizing aviation maintenance organizations. This unique feature can be a great deal of help if your business belongs to the aviation industry. On the other hand, Workday ERP offers an app development feature that allows businesses to build new applications. If you want to create exclusive applications for your business, Workday ERP might be the better choice for you.
If you’re still unconvinced, use our Product Selection Tool to learn about more ERP software options.