Top Four Ways to Enhance Workday HCM Reporting

The Workday Human Capital Management (HCM) suite helps you to accept change by giving insights into the workforce and operations. In the cloudWorkday HCM is built from the ground up and distributed. It is the only worldwide, enterprise application unifying recruitment, time, payroll, human resources, attendance, benefits,  and talent management.   

Workday’s purpose is to bring a unified Finance and Human Capital Management platform to customers to assist them with better management with their organizations.

In the organizations where we worked within the beginning of automated financial reporting systems, HR and Finance were a mystery to each other. They didn’t care for sharing information and building organizational barriers that fostered isolation. Every need for information from one function to another created an extra burden for the department providing the information since we extracted, aggregated, and analyzed data on spreadsheets.  It was a difficult procedure that took a few days or more than a week.

To get a better understanding of the Workday Course, Check out Job Outlook for Workday HCM Consultant

Workday disrupted all that when they made a cloud Financial system integrated with HCM. The in-memory, object-based architecture, a unified code base, and Composite Reporting make it possible to utilize business intelligence that was unavailable without an expensive BI system. 

This functionality places reporting and analytics in your hand. Our four recommendations may assist you to gain an advantage of Workday Composite Reporting. 

1. Try to develop the skills of your employees 

You need not enlist a group of data scientists to get actionable Business Intelligence out of Workday. A person with an aptitude in spreadsheet formulas, pivot tables, and pivot charts will become adept at the mechanics of  Workday- Composite Reporting in a short time. 

Outsourcing the development of your report is also an alternative method. Your implementation partner or analytics consultant can help you over the present moment as you build your ability. 

The majority of the Workday reporting value lies in posing the correct question. We would say that the vast majority of these data needs are identified with the effect of HCM projects, programs, and learning activities on business results. Building up results, for example, increased sales per employee because of a sales training program is simple. In different cases, you can utilize indirect results like income per worker, client commitment, or cost per incident. 

Congrats if you already connected over your organization to know what question to ask. If you haven’t, reaching out to the leaders liable for your organization’s key performance indicators will pay off in seeing how different business capacities perceive business results. 

2. Reach over barriers 

The institutional barriers to internal data exchange were overcome by Workday’s Unified Code Base and Composite Reporting. If your organization still has policy obstructions set up, it may be a great opportunity to reevaluate them. If your present security settings prevent you from analyzing organizational productivity and performance measures that are affected by HCM projects and activities, it will be worth the effort. Work with Finance to cut the dividers down so you can more readily examine the effect of your programs. 

3. Try to Use Worktags 

Worktags are keywords for business activities, so Workday customers inside Workday can aggregate, report, and evaluate their business data.

What makes Worktags different is the flexibility and ease of bringing them into reports. Program, projects, and learning activities in Worktags can assist you with indicating the financial impact on your HCM activities to cut the guesswork. 

Let’s dig deeper into the Workday Topic, What is Workday HCM?

4. Personalize Your Records

Workday Several Standard Reports are issued by Workday. They are useful, but we suggest that you use them as models to construct your own.

Initially, you can’t utilize Standard Reports in web service to share data with other applications. Copy them into Custom Reports and enable web services. It cannot be exclusively accessible for data integration, however, web services implement approval makes the reports more stable and Secondly, you and your employees will find the extra capabilities like determined fields to be valuable, and as your skills develop, your reports can develop with you. 

Conclusion

Workday Composite Reporting has carried another measurement to Human Capital Management Reporting. 

These are the related articles that you can check

1. All you need to know about Report Types in Workday
2. How to Set Up the Supervisory Organization in Workday?
3. Top 3 Ways How Salesforce Integration Improves your Workday
4. How to work with Business Processes on Workday?
5. How does an HCM consultant start his career in Workday?

That’s all for today. If you’re interested to read more articles on this topic, feel free to visit ZaranTech Blog.

At ZaranTech, we also offer a Self-paced video learning program for Workday HCM mentored by certified and experienced subject matter experts. Browse through our course pages for further information.

Happy learning!