During the Workday Rising event, a number of updates to Workday were already announced. The company informed Techzine about a number of additions, including financial tools and functions for data analytics.
Journal Insights is a new feature for Workday Financial Management users. The function can detect deviations in accounting records. In this way, accounting teams can detect irregularities as soon as they occur, which means that they can immediately correct the problems in question.
There is also Supplier Invoice Automation, also for Workday Financial Management users. This function sends invoices that require attention to specific employees, based on previous orders and/or similar tasks. Supplier Invoice Automation uses rule-based work processes and header scans to ensure that invoices reach the right person.
There will also be a function for the Workday for Slack integration: Expenses via Natural Workspaces. This makes it possible to enter expenditures in Workday through the Slack integration. For example, if an employee uploads an image of a receipt in Slack, Workday Expenses uses OCR to automatically recognize important data. This may involve, for example, the amount to be reimbursed. This way, the user only has to confirm for approval.
Data analytics
Anomaly Detection for Plans is a new machine learning feature, integrated into the Adaptive Insights Business Planning Cloud. The feature enables customers to identify potential input errors in plans. This can include budgets, forecasts and scenarios. This feature uses machine learning to analyze historical data to detect deviations, after which users are alerted to potential errors.
Finally, there is Discovery Boards, a drag-and-drop tool for data discovery. Originally only available as part of Workday Prism Analytics, it is now also available for HCM (Human Capital Management) customers as part of their subscription. It allows users to quickly visualize data to recognize patterns and discover insights. With these analyses, users can investigate trends that show how certain parts of a company are growing, or where growth is lacking.
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