Enterprise resource planning (ERP) solutions such as Infor ERP and Workday ERP are quickly becoming a vital part of successful businesses. ERP solutions integrate all facets of a business, including product development, manufacturing, marketing, and sales. With countless ERP software vendors, how can you decide which software to purchase for your business?
In this article, we’ll compare some of the features of Infor ERP and Workday ERP to help narrow down your search and find out if one of these ERP solutions is the right software for your company.
Infor ERP is a cloud-based ERP solution that helps users streamline operations through company-wide visibility and industry-specific functionality. Workday ERP is a leading ERP software that provides financial management and human capital management functionality for companies across a variety of industries — including the manufacturing, higher education, financial services, and technology industries.
You can also learn about more ERP solutions by using our Product Selection Tool. You’ll get a free list of reliable ERP software vendors worth researching.
An overview of Infor ERP and Workday ERP
Infor ERP is a reputable ERP platform focused on the needs of manufacturing and distribution sectors. The product was traditionally offered on-premises, but it is now available in a cloud version. Infor ERP has features for finance and accounting, supply chain management, planning and scheduling, project management, and customer and order management. Infor ERP has features and plans to suit every business size. It offers average pricing.
Workday ERP is a frontrunner in the ERP software industry. This top-rated ERP provides companies with unified human capital management, financial, payroll, and management solutions that are designed for the modern business. Its features include time tracking, career and development planning, recruitment, strategic workforce planning and analytics, revenue and expense management, project management, performance management, accounting and finance, and procurement. Workday ERP was designed for mid-sized to large-scale enterprises. It is available at high-end prices.
Comparing the features
Both Infor ERP and Workday ERP have features for workforce management, financial management, and mobile access.
Infor ERP’s workforce management feature enables businesses to accurately forecast and manage both direct and indirect labor needs based on varied demand drivers. Workforce planning teams can assign labor to specific products, services, or cost centers. They can also use a detailed driver-based calculation methodology to determine both the direct and indirect labor requirements. This software comes with talent management and acquisition capabilities, too. Users can study trend lines to determine if variances are short-term or a change in market or product demand.
Workday ERP uses comprehensive reporting capabilities to help teams with planning workforce strategies, headcount, compensation, employee skills, and talent acquisition. The software helps teams provide insights to team members and give them current and forecasted data as well as metrics for recruiting, training, transfers, and attrition. Users can model and share what-if scenarios to plan whether to build, borrow, or buy the talent they need. They can monitor how the team is executing against the hiring plan and adjust as needed.
The financial management feature from Infor ERP allows businesses to directly import accounts. The system automatically reconciles accounts based on user-defined rules or by using a simple and intuitive manual reconciliation option. This feature allows an unlimited number of ledgers to store adjustments, eliminations, currency gains or losses, and allocations. Ledgers can be combined with a chart of accounts and calendars to create a basis definition. Infor ERP offers a comprehensive payables functionality, including vendor maintenance, invoice processing, payment processing, and regulatory reporting and compliance. With this ERP, finance teams can monitor cash positions, create cash forecasts, and validate actual transactions against forecasts.
Workday ERP has a single financial management system that supports transaction processing, multidimensional reporting, consolidation, planning, and compliance. The software records all the rich operational information surrounding transactions while maintaining the accounting information expected of a global general ledger. This ERP’s financial management feature offers global capabilities, including multicurrency, multi-language, and multibook. These capabilities are built into the core system to support multinational requirements today and into the future. Additionally, Workday ERP shows users real-time cash balances and transactions to help teams manage resources effectively and make good decisions about funding, paying, and collecting money.
Infor ERP offers mobile applications that allow users to access Infor applications to complete their business needs, favorite frequently accessed screens, and access their corporate profile. These mobile applications, called Infor Go, can be downloaded from the App Store and the Google Play Store. The app has a user-friendly UI that offers mobile functionalities such as monitoring tasks that need to be completed and accessing Homepage widgets. Infor Go also provides access to the Coleman Digital Assistant. This feature enables conversational relationships, using AI to optimize day-to-day work. Users can approve transactions, monitor KPIs, or streamline other business process flows and capture useful data on the go.
Workday ERP users can also access the system through the Workday app, downloadable from the App Store and the Google Play Store. Users can submit requests for time off, view expense reports, check on projects, submit their benefits enrollment, and log time spent on activities in real time. They can also view 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 drill into individual details about each employee to stay up-to-date with the team members even when they’re out of the office. Managers can take quick action on tasks such as approving expenses or time off.
Infor ERP has built-in integrations with applications for tax compliance, supply chain management, back-office automation, shipping, and visual configuration:
Workday ERP readily integrates with solutions for invoice automation, app creation, intelligent automation, expense management, and performance management:
- SAP Concur
- Quick Base
The ERP software for you
The better software between Infor ERP and Workday ERP will greatly depend on what you’re looking for in an ERP solution.
Infor ERP is the better suited ERP for your business if you’re looking for a software with features specifically designed for manufacturing and distributing businesses. On the other hand, if you’re not in the manufacturing or distribution sector and you’re looking for an ERP software that can be customized to match your business needs, Workday ERP might just be the software for you.
If you want to check out other ERP solutions, use our Product Selection Tool.