Home > HR Management Software > PrismHR > PrismHR vs Workday HCM

PrismHR vs Workday HCM

Last Updated: November 25th, 2024

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

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Product Basics

PrismHR offers flexible, customizable and efficient solutions to support the comprehensive payroll, benefits and HR management requirements of small businesses and HR service providers. It provides assistive capabilities through the six key modules: platform, payroll, talent, time, employee portal and benefits.

Its marketplace offerings include tools for financial wellness, identity protection, time and attendance, voluntary insurance, compliance, consulting services, taxes and more. These add-on capabilities are pre-integrated and give HR providers validated connections.

Workday HCM is a SaaS solution that unifies all aspects of managing the employee lifecycle in a single HRMS. The suite of modules allows organizations to operate globally, run payroll, administer benefits, manage talent and facilitate learning, among other things.

While designed for medium and large enterprises, the platform can support the needs of smaller businesses as well. A business process framework provides control for all internal processes. The software is also equipped with audit tools and built-in security capabilities, and it offers mobile apps for flexible access.

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Small

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Product Insights

Lowers Risk: Address compliance-related issues to reduce risks, and stay up-to-date and informed about the latest legislation updates like COBRA.
Improves Operational Efficiency: Automatic flow and sharing of data across the platform’s modules reduces manual work, saves time and leads to enhanced efficiency. The integrated application requires users to feed in data just once and then shares it among all modules.
Promotes Business Growth: Promote productivity and business growth through several solutions and tools such as hiring, onboarding, performance management, reporting, payroll and benefits.
Boosts Revenue: Improve revenue with automation features that help the company to save on costs by needing fewer employees.
Saves Costs: Managers can create a fair benefits and compensation plan based on performance, helping save unnecessary expenses.
Manages Financial Wellness: Helps manage finances via health saving accounts, electronic pay cards and financial education.

Deep Data Insights: Equipped with reporting and analytics tools, Workday HCM provides a complete view of critical KPIs to inform better decisions. It allows you to become familiar with your workforce, promote employee growth, foster diversity and prepare for the future. Workday’s Prism Analytics and Data-as-a-Service applications provide graphs, charts, benchmarking reports and more.
Fast, Enhanced Recruiting: You can streamline and speed up the recruiting process with collaboration tools, task reminders and calendar syncing. A referral leaderboard encourages employees to refer other qualified candidates.
Easy Expense Reporting: Mobile receipt scanning and approval workflows simplify the expensing process for employees and managers. You can also set spending controls and give employees the ability to start reports. With data analytics tools, you can spot trends and gain insight into expenses throughout your company.
Efficient Absence Management: This feature uses a smart calendar for managing time off. It also provides tracking for different types of absences and the ability to analyze carryover.
Simplified Time Management: Time tracking and approval is available on any device, and alerts surface items that need attention. The system automates rules and calculations to cut down on manual tasks and the risk of errors.
Improved Hiring Decisions: Dashboards present all your talent acquisition data in one place for easy viewing, and machine learning suggests areas of improvement. You can also compare your company to peers via benchmarking and use compensation comparisons to create effective offers.

Talent Management: Helps talent managers find, recruit and retain the best performing employees. Facilitates applicant tracking, employee onboarding and performance management.
Employee Benefits: Small businesses can create affordable benefits packages that suit their requirements. Cuts paper usage and encourages greater transparency, accuracy and security for benefit enrollment and employee record-keeping.
Payroll Management: Execute quick and efficient payroll processing, with the assistance of a variety of tools that help managers review timesheets and calculate, review, approve and process payroll. Offers real-time auto pay or wire transfer.
Time and Labor Tracking: Provides accurate details like employee login information, idle time and productivity, which help reduce labor costs, administration expenses and compliance risk. Employees can clock in or out, request time off, view timesheet entries and share messages, all through a single dashboard.
Employee Portal: Managers and employees can have easy access to HR and payroll information through any device 24/7. The configurable dashboard helps view and manage benefit details, pay stubs, PTO requests, tax documents, event and holiday calendars, and HR support contact information.
Reporting and HR Analytics: Provides real-time reporting in all human capital and recruitment management scenarios with automated payroll, report sharing and role-based permissions to view data. The HR analytics dashboard offers ease of access and a view of employee reports, along with prebuilt and custom templates.

Payroll: Workday HCM offers payroll capabilities for the U.S., U.K., France and Canada. All transactions compile in the payroll module. It includes a calculation engine, which enables running reports and calculations for groups and individuals at any time. A compliance dashboard shows information about upcoming changes as well as the areas of greatest impact within your organization.
Benefits Administration: The software supports a variety of plans, such as health, flex, wellness and retirement. Tools such as the ACA dashboard ensure proper coverage as well as aid managing forms and regulatory changes. The system supports integration with hundreds of providers.
Talent Management: This feature includes onboarding and career and development planning components. New hires can access messages, videos and more from a single dashboard, and there’s also support for international and internal transfers. Pulse surveys and a skills cloud provide insight into your workforce. Additionally, you can set goals, perform reviews, manage succession plans, aid employee career development and pinpoint retention risks.
Learning Management System: Equipped with LMS capabilities, this module helps your organization deliver and track a variety of training materials. Elements include scoring, quizzes, learning campaigns, video, learning paths and more. You can also offer courses to external groups. For extended training, the Workday Content Cloud grants access to third-party content directly from Workday HCM.
Compensation Management: With this feature, you can build customized compensation packages for global use by choosing from over a dozen compensation plan types. It supports international currencies and allowance plans based on local limits. The toolset includes a grid worksheet, events coordination for things like new hires and promotions, pay-range segments, tracking of pay equity, configurable statements, and unified data from other Workday HCM modules such as payroll and benefits.
Workforce Planning: The Workday Adaptive Insights Business Planning Cloud provides tools to create models, compare what-if scenarios and build hiring strategies. It also facilitates collaboration along with evaluation of metrics like costs and workforce breakdown. The platform provides review and approval workflows and integrates data from other organizational systems.
Global Compliance: The solution’s flexibility enables you to configure the pre-built frameworks based on your company’s needs. It contains support for 240 countries, 1,500+ reports, 170 absence plans, geographic controls such as privacy preferences and date formats, and over 3,000 localized data fields. You can automatically translate into over 30 languages, receive free legal support across 58 jurisdictions and control all aspects of the setup.
Workday Marketplace: You can extend the capabilities of Workday HCM by connecting it with third-party integrations for case management, hiring, training and other processes. Partner solutions include LinkedIn Learning, Salesforce Worker and Salesforce Chatter, Saba, HireRight Background Check, and Humanity Employee Shift Scheduling.

Product Ranking

#15

among all
HR Management Software

#1

among all
HR Management Software

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Analyst Rating Summary

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User Sentiment Summary

84%

of users recommend this product

PrismHR has a 'great' User Satisfaction Rating of 84% when considering 24 user reviews from 3 recognized software review sites.

86%

of users recommend this product

Workday HCM has a 'great' User Satisfaction Rating of 86% when considering 3039 user reviews from 5 recognized software review sites.

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4.8 (14)

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4.0 (1144)

5.0 (2)

4.4 (836)

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4.8 (605)

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4.1 (440)

Synopsis of User Ratings and Reviews

Intuitive Interface: Users praise PrismHR for its user-friendly interface, making it easy to navigate and find information quickly.

Robust Reporting: The platform offers comprehensive reporting features, allowing businesses to generate detailed reports on various HR metrics, such as employee turnover and compensation.

Efficient Payroll Processing: PrismHR streamlines payroll processing, automating calculations and reducing the risk of errors.

Intuitive: 95% of users who mentioned ease of use observed that the software has an intuitive interface, making it easy to navigate and find information, even for novice users.

Multiple Functionality: 90% of users who mentioned functionality state that Workday HCM acts as a one-stop shop for many HR tasks.

Payroll and Benefits: All reviewers who mentioned payroll had a positive experience, with the ability to track hours, collect tax forms, log pay stubs and more.

Reporting Limitations: Users have expressed frustration with the limited reporting capabilities, finding it difficult to extract specific data or customize reports to meet their analytical needs.

System Complexity: The platform's intricate design and navigation can be challenging for new users to grasp, leading to a steep learning curve and potential inefficiencies.

Customer Support Concerns: Some users have reported difficulties in obtaining timely and effective support from PrismHR, impacting their ability to resolve issues promptly.

Slow: Of reviewers who mention user interface, 5% noted some processes are slow, causing the system to show errors.

Requires Training: For first-time users, there’s a bit of a learning curve to get started, requiring training.

Clunky Mobile App: 85% of reviewers who mentioned the app noted that it has issues quite often and doesn’t include schedules, forcing users to use a separate app.

In the last year, PrismHR has garnered a mixed bag of user reviews, highlighting both its strengths and weaknesses. Users appreciate the software's user-friendly interface and comprehensive suite of features, covering everything from onboarding and payroll to benefits administration and performance management. It's like having a Swiss Army knife for your HR needs. However, some users have expressed concerns about the software's premium pricing and occasional hiccups with customer support. When stacked up against its competitors, PrismHR stands out with its robust functionality and scalability, making it a suitable choice for businesses of all sizes. Its ability to handle complex HR processes, especially for small and medium-sized businesses (SMBs), is a major plus. However, its higher price point compared to some competitors might give budget-conscious businesses pause. Ultimately, the decision of whether PrismHR is the right fit boils down to individual needs and priorities. For businesses seeking a comprehensive and scalable HR solution and are willing to invest in it, PrismHR could be a game-changer. But for those on a tighter budget or with simpler HR requirements, exploring alternative options might be wise.

Workday HCM is suitable for businesses of all sizes. It is a simple and easy-to-use product with multiple functions that contain all HR data in one place. Payroll and benefits are easy to view and verify. Some improvements are required in the mobile app and system speed. Otherwise, its payroll, timesheet tool, ease of use and unified structure can bring a lot of benefits.

Screenshots

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FAQ

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