Workday is both an ERP and HCM system, but it goes beyond the capabilities of traditional ERPs. 

What is ERP?

• ERP (Enterprise Resource Planning): A software system that integrates core business functions like finance, supply chain, inventory, manufacturing, and often human resources, into a centralized platform.

What is HCM?

• HCM (Human Capital Management): A suite of software tools focused on managing the employee lifecycle. This includes recruiting, onboarding, payroll, benefits, performance management, and training.

Workday: More than a Traditional ERP

Workday provides a unified cloud-based platform encompassing the following:

• HCM: Workday started with a strong foundation in Human Capital Management. Its HCM offerings are extensive and considered among the best.
• Finance: Workday’s financial management suite is robust, allowing companies to handle accounting, financial reporting, analytics, and planning.
• Beyond Traditional ERP: Workday’s key differentiator is its ‘intelligent data core’. This centralizes data from various aspects of the business, providing better insights and agile decision-making. It’s designed to be more flexible and adaptable than legacy ERP systems that often have siloed data.

Why the Confusion?

• Evolved Functionality: Workday’s broad capabilities can blur the line between traditional ERP and HCM.
• Marketing: Workday often emphasizes its HCM strengths, but it is an enterprise-wide solution.

In Summary:

Workday is a comprehensive solution that includes robust HCM and ERP functionality within a single, cloud-based platform. It’s designed to provide businesses with more agility, data-driven insights, and flexibility than older ERP systems.