BQE Core vs Workday Financial Management

Last Updated:

Our analysts compared BQE Core vs Workday Financial Management based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.

BQE Core Software Tool

Product Basics

BQE Core streamlines accounting processes for mid-sized businesses, simplifying tasks like bookkeeping, invoicing, and financial reporting. Its intuitive interface and automation features cater to users with varying accounting expertise, making it suitable for both in-house accountants and bookkeeping teams. The software boasts strong general ledger functionality, multi-currency support, and real-time financial insights, enabling better decision-making. Popular features include bank reconciliation tools, inventory management, and project accounting capabilities. Users appreciate BQE Core's scalability and customizability, allowing it to adapt to specific business needs. While subscription pricing varies based on company size and required modules, it generally falls within the mid-range compared to similar accounting software. BQE Core prioritizes ease of use and automation, making it a solid choice for businesses seeking to streamline their accounting operations and gain valuable financial insights.

Pros
  • Intuitive interface
  • Time-saving automation
  • Comprehensive features
  • Flexible customization
  • Scalability for growth
Cons
  • Limited mobile app
  • Occasional bugs reported
  • Steeper learning curve
  • Customization requires effort
  • Pricing can be complex
read more...
Workday Financial Management is a cloud-based accounting software designed for mid-sized and large enterprises. It automates core financial processes like record-to-report, procurement, and expense management, aiming to streamline operations and improve data visibility. Its strengths lie in its user-friendly interface, real-time reporting capabilities, and global compliance support. However, its subscription-based pricing model can be costlier than traditional on-premise solutions. Users praise its intuitive design and powerful analytics, but some note occasional integration issues and a steeper learning curve compared to simpler systems. Overall, Workday Financial Management is a robust option for companies seeking a modern, scalable accounting platform with a focus on automation and global reach, but its premium pricing might not suit smaller businesses or those with less complex financial needs.

Pros
  • User-friendly interface
  • Real-time reporting
  • Global compliance support
  • Scalable for growth
  • Integrates with other Workday apps
Cons
  • Higher subscription costs
  • Steeper learning curve
  • Occasional integration issues
  • Limited customization options
  • Reporting can be complex
read more...
$19.95/User, Monthly
Get a free price quote
Tailored to your specific needs
$5,000 Monthly
Free Trial is unavailable →
Get a free price quote
Tailored to your specific needs
Small 
i
Medium 
i
Large 
i
Small 
i
Medium 
i
Large 
i
Windows
Mac
Linux
Android
Chromebook
Windows
Mac
Linux
Android
Chromebook
Cloud
On-Premise
Mobile
Cloud
On-Premise
Mobile

Product Assistance

Documentation
In Person
Live Online
Videos
Webinars
Documentation
In Person
Live Online
Videos
Webinars
Email
Phone
Chat
FAQ
Forum
Knowledge Base
24/7 Live Support
Email
Phone
Chat
FAQ
Forum
Knowledge Base
24/7 Live Support

Product Insights

  • Beefed-Up Security: The software runs on the cloud, so users can rest assured that they can access data from any location with a Wi-Fi signal. Their information also has an extra layer of security. 
  • Artificial Intelligence: Users can stay in the know about their company's financial data, daily agenda and more to make informed business decisions with the AI-powered Core Intelligence tool. Core Intelligence becomes smarter and offers enhanced results when users ask more questions.  
  • Automatic Data Conversion: Currency, numbers and dates are always formatted to company preferences. A user's current location has no impact on the company's currency, numeric values or dates. 
  • Monitor Human Resources: Users can oversee their HR department information including salary, incidents, benefits, forms, sick and vacation time, retirement packages and more. 
  • Manage Employees' Responsibilities: BQE Core allows users to allocate ideal tasks and responsibilities to the right employees. Users can also restrict permissions on recording tasks and expenses to diminish errors. 
  • Compile Bill Schedules: Users can generate bills for a project's entire lifecycle or the preliminary stages. Users can set time for other tasks when they set up recurring billing for projects.  
read more...
  • Enhanced Efficiency and Streamlined Operations: Automates manual tasks, eliminates data silos, and provides real-time visibility across financial processes, leading to faster close cycles, reduced errors, and improved operational agility.
  • Data-Driven Decision Making: Offers robust analytics and reporting tools that deliver actionable insights into financial performance, enabling informed strategic planning, cost optimization, and resource allocation.
  • Global Compliance and Scalability: Supports complex global operations with built-in compliance features and multi-currency capabilities, ensuring seamless expansion into new markets and adherence to local regulations.
  • Improved User Experience and Productivity: Provides a modern, intuitive interface that empowers finance teams with self-service capabilities, reduces training requirements, and boosts overall user satisfaction.
  • Enhanced Collaboration and Visibility: Fosters collaboration between finance and other business departments through integrated workflows and shared data, promoting transparency and alignment across the organization.
  • Reduced Risk and Improved Controls: Strengthens internal controls with advanced security features, audit trails, and automated compliance checks, mitigating financial risks and safeguarding sensitive data.
  • Increased Agility and Adaptability: Enables rapid configuration changes and customizations to adapt to evolving business needs and industry regulations, ensuring continuous optimization and competitive advantage.
  • Talent Optimization and Retention: Supports talent management initiatives by streamlining payroll and expense processes, providing employee self-service capabilities, and enhancing financial transparency, leading to increased employee satisfaction and retention.
  • Sustainable Growth and ROI: Delivers tangible cost savings through automation, improved efficiency, and reduced compliance risks, contributing to significant long-term return on investment.
  • Future-Proofed Platform: Continuously updated with new features and functionality, ensuring your accounting system stays ahead of the curve and adapts to evolving industry trends and technologies.
read more...
  • Vigilant Dashboard: The dashboard module enables users to pick and choose which key performance indicators (KPIs) are displayed. Users also receive immediate data updates so they can act quickly if problems arise. 
  • Develop and Edit Several Dashboards: Users can create several dashboards to fit the needs of their business. They can also modify pie charts, bar graphs and interactive lists in each dashboard. 
  • Work with Various Currencies: Users can attach receipts and document expenses in multiple currencies for any oversea transactions. 
  • Record and Manage Time: Simple timers and timesheets allow users to record their time quickly and more efficiently. Users can easily alternate between various timers. This module is mobile-friendly, so users can track and record time on any device. 
  • Supervise and Forecast Projects: Users can oversee the financial progress of projects and prioritize the most valuable projects with the project management tool. Users receive prompt answers to the essential project and performance-related questions.  
  • Several Billing Methods: The billing module permits users to choose different forms of billing such as hourly, fixed, retainer and more. Users can also process bills in batches or immediately on a pre-set schedule.  
  • Detailed Reports: Users receive elaborate insights on the financial and operational statuses of their company with the report accessory. Users can design and share reports as PDFs, Word documents or Excel files with the automatic sharing component. 
  • Instant Bank Feeds: The accounting tool authorizes users to develop financial reports such as balance sheets and profit and loss reports based on class or individual projects for intricate insights.  
  • Monitor Employee Performance: Users can utilize Core HR's employee journal to evaluate employees by documenting overall performance, outstanding achievements, conversations and more. 
  • Diverse Integrations: BQE Core integrates with other software like Google Drive, MYOB AccountRight, QuickBooks, Amazon and more.  
read more...
  • Grant Management: Meet grantor and business requirements for budgeting, billing, reporting and compliance. Minimize the possibility of reporting errors, any loss due to absent funds or risk associated with non-compliance. Make sure that all grantor’s requirements get met in terms of timeframe, balance, terms and conditions. Control unnecessary spending by keeping a tab on the monetary status in real-time. Ensure that workers are paid for individual projects. 
  • Analytics and Reporting: Create internal reports and external regulatory statements ensuring no patchwork database. Use reconciliations and analytical tools. Ensure robust security while deriving insights for strategic decision-making. Let executives and leaders view monetary, operational and management visualizations. Gain a complete view of the business by combining transactional and operational parameters. Know and understand what is happening, where and why by analyzing details across dimensions. 
  • Financial Planning: Make informed, faster decisions with flexible tools and data-driven insights. Respond quickly to change by creating strategic plans for budgeting expenses to forecasting revenue. Gain a complete picture by populating models with data. Connect to cloud, on-premise and data warehouse. Ensure reliable data access with an automated data flow. Involve everyone in the planning process with role-based access to models. Create reports by automatically connecting to Microsoft Excel, Word and PowerPoint. View numbers, charts and variance alongside each other, reflected instantly. 
  • Audits and Internal Control: Keep the business secure, identify risk and document every translation with audit and internal controls. Adjust controls and processes, set thresholds, evaluate workflows and prevent unauthorized transactions with a flexible framework. Limit permissions to people with single access and authorization control. 
  • Global Foundation: Operate and expand in different countries or around the world. Get built-in flexibility and support for global time zones, currencies and address formats. Leverage support for multiple charts of accounts, tax, banking and payment format. Deploy faster with built-in country-specific configurations. 
  • Expenses: Minimize expense processing time and reimburse faster. Record the transaction by scanning the receipt. Get better travel rates and discounts by uncovering the latest trends in real-time with a delivered expense dashboard. Control cost and keep all the travel policies in one place. Prevent the possibility of fraud by tracking out of policy spends.  
  • Accounting Centre: Gain detailed insights and reduce the time to close with comprehensive accounting information and data lineage back to source transactions. Minimize errors, boost efficiency and gain better control and visibility. Manage and modify rules with one accounting engine written in business language. Get detailed budgetary and operational reporting with a virtual subledger. Recognize revenue by modifying operational data. 
  • Revenue Management: Gain complete visibility with flexible features and view and analyze all the system’s aspects. Minimize risk by establishing, approving and tracking customers at every step of the contract cycle. Reduce revenue leakage and gain rich insights into write-offs and billing rules. Boost accessibility, accuracy, profitability with intercompany invoices. Get end-to-end revenue management and comprehensive revenue recognition while staying compliant with GAAP and IFRS standards and protocols. 
  • Budgetary Consolidation and Close: Keep track of the output by any factor such as spend by supplier, campaign, profitability and project activity. Reconcile accounts and embed them in the transaction system. Automate tasks, route approvals and reports with a close period checklist. Get real-time currency and earning calculations to analyze the financial results within a specific timeframe.  
  • Accounting and Finance: Keep a tab on the monetary impact of transactions by identifying and addressing issues promptly without running a batch process. Close faster with real-time consolidation. Automate finance and accounting operations, make modifications or corrections any time and get recommendations on payment matching. Manage accounts payable, contracts, billings and payments from one place. Gain complete transparency into records from procurement to disposal. Control and optimize the cash flow. 
read more...

Product Ranking

#158

among all
Accounting Software

#357

among all
Accounting Software

Find out who the leaders are

Analyst Rating Summary

85
80
97
0
95
70
100
100
Show More Show More
Banking and Cash Management
Financial Statements and Revenue Management
General Ledger and Chart of Accounts
Project Accounting
Accounts Payable
Banking and Cash Management
Budget and Expense Management
Platform Security
Tax Management
Multi-company Accounting and Asset Management

Analyst Ratings for Functional Requirements Customize This Data Customize This Data

BQE Core
Workday Financial Management
+ Add Product + Add Product
Accounts Payable Accounts Receivable Banking And Cash Management Budget And Expense Management Financial Statements And Revenue Management General Ledger And Chart Of Accounts Integration And Extensibility Inventory Management Journal Entries Mobile Support Multi-company Accounting And Asset Management Platform Capabilities Project Accounting Reporting And Analytics Tax Management 97 95 100 93 100 100 58 50 67 80 80 78 100 93 96 0 70 100 100 66 63 0 57 81 0 87 0 80 0 100 0 25 50 75 100
89%
11%
0%
we're gathering data
N/A
we're gathering data
N/A
we're gathering data
N/A
94%
0%
6%
69%
0%
31%
100%
0%
0%
100%
0%
0%
85%
0%
15%
100%
0%
0%
100%
0%
0%
20%
60%
20%
100%
0%
0%
25%
0%
75%
46%
0%
54%
we're gathering data
N/A
we're gathering data
N/A
we're gathering data
N/A
0%
0%
100%
0%
86%
14%
60%
0%
40%
80%
0%
20%
80%
0%
20%
we're gathering data
N/A
we're gathering data
N/A
we're gathering data
N/A
60%
0%
40%
67%
33%
0%
78%
0%
22%
we're gathering data
N/A
we're gathering data
N/A
we're gathering data
N/A
100%
0%
0%
80%
0%
20%
89%
0%
11%
we're gathering data
N/A
we're gathering data
N/A
we're gathering data
N/A
80%
0%
20%
100%
0%
0%

Analyst Ratings for Technical Requirements Customize This Data Customize This Data

33%
0%
67%
33%
33%
34%
83%
0%
17%
100%
0%
0%

User Sentiment Summary

Great User Sentiment 354 reviews
Great User Sentiment 324 reviews
86%
of users recommend this product

BQE Core has a 'great' User Satisfaction Rating of 86% when considering 354 user reviews from 4 recognized software review sites.

84%
of users recommend this product

Workday Financial Management has a 'great' User Satisfaction Rating of 84% when considering 324 user reviews from 4 recognized software review sites.

4.2 (30)
3.8 (77)
4.3 (209)
n/a
4.8 (17)
4.4 (55)
n/a
4.4 (153)
4.25 (98)
4.0 (39)

Awards

we're gathering data

SelectHub research analysts have evaluated Workday Financial Management and concluded it earns best-in-class honors for Budget and Expense Management.

Budget and Expense Management Award

Synopsis of User Ratings and Reviews

Intuitive Interface: Easy to learn and navigate, even for non-accountants.
Automation Powerhouse: Saves time and reduces errors with automated tasks like bank reconciliation and invoice generation.
Scalability and Flexibility: Adapts to growing businesses and diverse accounting needs with customizable modules and features.
Actionable Insights: Real-time dashboards and reports provide clear financial visibility for informed decision-making.
Collaboration Booster: Shared workspaces, task assignments, and approval workflows streamline team accounting processes.
Show more
Streamlined Processes and Efficiency: Automates manual tasks like journal entries, reconciliations, and financial reporting, saving time and reducing errors.
Real-Time Visibility and Insights: Provides instant access to financial data and customizable dashboards, enabling proactive decision-making and improved cash flow management.
Global Compliance and Scalability: Supports multi-GAAP compliance, multi-currency transactions, and international tax reporting, simplifying operations for global organizations.
User-Friendly Interface and Adoption: Offers an intuitive interface with guided workflows and role-based dashboards, making it easy to learn and use for finance professionals of varying skill levels.
Seamless Integration and Collaboration: Integrates smoothly with other Workday applications and external systems, fostering collaboration across departments and streamlining financial processes.
Show more
Limited Mobile App: Functionality lags behind desktop version, hindering on-the-go access.
Occasional Bugs: Users report occasional bugs and glitches, impacting workflow.
Steeper Learning Curve: Interface can be less intuitive compared to some competitors, requiring more training.
Customization Effort: In-depth customization can be complex and require technical expertise.
Pricing Complexity: Tiered pricing structure and optional modules can make cost calculations intricate.
Show more
Steep Learning Curve: Workday's interface and functionality can be complex for users unfamiliar with its specific terminology and workflows, requiring significant training and onboarding.
Limited Customization Options: While Workday offers some customization, it may not fully accommodate specific accounting needs or reporting requirements, potentially leading to workarounds or integration with additional tools.
High Implementation and Maintenance Costs: Workday's initial implementation and ongoing maintenance can be expensive, especially for smaller organizations, requiring careful budgeting and resource allocation.
Integration Challenges: Integrating Workday with existing legacy systems or third-party applications can be complex and time-consuming, potentially disrupting workflows and requiring specialized technical expertise.
Limited Offline Functionality: Workday's cloud-based nature can pose challenges in situations with limited internet connectivity, potentially impacting critical accounting tasks and data access.
Show more

BQE Core users praise its intuitiveness and automation features, saving them time and reducing errors. It's lauded for its scalability and flexibility, adapting to growing businesses and diverse needs, which some users find lacking in simpler rivals. Real-time insights and seamless collaboration features are also appreciated, empowering informed decision-making and team efficiency. However, a limited mobile app and occasional bugs can disrupt workflow, drawing comparisons to competitors with more robust mobile experiences. While BQE Core's extensive customization options are admired, some find it steeper to learn and configure compared to user-friendly alternatives. Pricing can also be complex, requiring careful consideration of modules and user licenses, unlike competitors with clearer upfront costs. Ultimately, BQE Core shines for its ease of use, automation, and scalability, but users must weigh occasional technical hiccups and intricate pricing against its strengths. Those seeking a mobile-first or simplified experience might explore other options, while BQE Core excels for businesses prioritizing customization and growth potential.

Show more

Workday Financial Management (WFM) user reviews paint a mixed picture. While users praise its streamlining capabilities, real-time insights, and global compliance features, they also face challenges with its initial complexity, limited customization, and high costs. Compared to competitors like Oracle NetSuite and SAP Business One, WFM shines in automating manual tasks and offering intuitive dashboards for data-driven decision-making. However, its steeper learning curve and potential integration hurdles can be daunting for smaller firms or those accustomed to simpler systems. Users particularly appreciate WFM's ability to automate journal entries, reconciliations, and financial reporting, freeing up valuable time for analysis and strategic planning. The real-time visibility into financial data with customizable dashboards also empowers users to make proactive decisions and manage cash flow effectively. For global organizations, WFM's support for multi-GAAP compliance, multi-currency transactions, and international tax reporting simplifies operations and streamlines reporting across diverse regions. However, users also highlight WFM's learning curve as a major hurdle, especially for those unfamiliar with its unique interface and terminology. The limited customization options can also be frustrating when specific accounting needs or reporting requirements don't perfectly align with the system's functionalities. Additionally, the high implementation and maintenance costs can be a barrier for smaller organizations, making WFM a better fit for larger enterprises with the resources to invest. Compared to competitors, WFM's strengths lie in its automation capabilities and data-driven insights. Users often find Oracle NetSuite more user-friendly and customizable, while SAP Business One offers better integration with existing systems for some businesses. Ultimately, the choice between WFM and its competitors boils down to individual priorities and needs. If automation, real-time data, and global compliance are top concerns, WFM stands out. However, if ease of use, customization, and cost-effectiveness are paramount, other options might be more suitable.

Show more

Screenshots

Top Alternatives in Accounting Software


Accounting Seed

Acumatica

Dynamics 365 Finance

FreeAgent

Freshbooks

Manager

Odoo Accounting

Oracle Financials Cloud

Patriot Accounting

QuickBooks Online

Sage 50cloud Accounting

Sage Intacct

SAP Business One

SAP S/4 HANA Finance

TallyPrime

Wave Accounting

Workday Financial Management

Xero

ZarMoney

Zoho Books

Related Categories

Head-to-Head Comparison

WE DISTILL IT INTO REAL REQUIREMENTS, COMPARISON REPORTS, PRICE GUIDES and more...

Compare products
Comparison Report
Just drag this link to the bookmark bar.
?
Table settings