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

Timeco vs Workday HCM

Last Updated: November 18th, 2024

Our analysts compared Timeco 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

Timeco offers a comprehensive software solution designed to streamline HR management tasks, including time tracking, payroll processing, and employee scheduling. This platform is particularly well-suited for mid-sized to large organizations that require robust and scalable HR tools to manage a diverse workforce efficiently. Users appreciate the intuitive interface and the ability to customize features to fit specific business needs, which enhances overall productivity and compliance.

One of the standout benefits of Timeco is its real-time data analytics, which provides actionable insights into workforce performance and labor costs. This feature is crucial for businesses aiming to optimize their operations and make data-driven decisions. Additionally, the software's integration capabilities with other enterprise systems ensure a seamless workflow, reducing administrative overhead.

Pricing for Timeco typically varies based on the number of users and the specific modules selected, with options for monthly or annual payments. This flexibility allows businesses to scale their investment according to their growth and needs. Compared to similar products, users often highlight Timeco's reliability and customer support as key differentiators, making it a preferred choice for comprehensive HR management.

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.

$4/User, Monthly

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$42/Employee, Monthly

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Product Insights

Improved Efficiency: Automate repetitive HR tasks such as payroll processing and leave management, freeing up time for strategic initiatives.
Enhanced Compliance: Stay up-to-date with labor laws and regulations through automated updates, reducing the risk of non-compliance penalties.
Data-Driven Decisions: Utilize comprehensive analytics and reporting tools to make informed decisions based on real-time data.
Employee Self-Service: Empower employees to manage their own information, such as updating personal details and accessing pay stubs, reducing administrative workload.
Streamlined Recruitment: Simplify the hiring process with integrated applicant tracking, from posting job openings to onboarding new hires.
Performance Management: Track and evaluate employee performance with customizable appraisal systems, fostering a culture of continuous improvement.
Cost Savings: Reduce overhead costs by minimizing manual processes and errors, leading to more efficient resource allocation.
Scalability: Easily scale the software to accommodate business growth, ensuring it meets the evolving needs of your organization.
Centralized Information: Maintain a single source of truth for all HR-related data, improving accuracy and accessibility.
Enhanced Security: Protect sensitive employee information with robust security measures, including encryption and access controls.
Improved Employee Engagement: Foster a positive work environment with tools for feedback, recognition, and career development.
Customizable Workflows: Tailor the software to fit your specific business processes, enhancing operational efficiency.
Reduced Paperwork: Transition to a paperless environment with digital document management, reducing clutter and environmental impact.
Time Tracking: Accurately monitor employee hours and attendance, ensuring fair compensation and compliance with labor laws.
Integration Capabilities: Seamlessly integrate with other business systems, such as accounting and project management software, for a unified workflow.

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.

Time Tracking: Accurately monitor employee hours with real-time data capture and automated timesheet generation.
Payroll Integration: Seamlessly connect with major payroll systems to ensure timely and accurate compensation.
Employee Scheduling: Create, modify, and distribute work schedules with ease, while considering employee availability and labor laws.
Leave Management: Streamline the process of requesting, approving, and tracking employee leave, including vacation, sick days, and other absences.
Mobile Access: Enable employees and managers to access the system from any device, ensuring flexibility and convenience.
Compliance Tracking: Stay compliant with labor regulations by automatically updating and applying relevant rules and policies.
Reporting and Analytics: Generate detailed reports and gain insights into workforce metrics, such as attendance patterns and overtime trends.
Employee Self-Service Portal: Empower employees to manage their own information, including personal details, timesheets, and leave requests.
Customizable Workflows: Tailor the system to fit your organization's specific processes and approval hierarchies.
Biometric Integration: Enhance security and accuracy with biometric time clocks that use fingerprint or facial recognition technology.
Notifications and Alerts: Keep everyone informed with automated notifications for schedule changes, leave approvals, and other important updates.
Data Security: Protect sensitive information with robust security measures, including encryption and role-based access controls.
API Access: Integrate Timeco with other business systems through a comprehensive API, ensuring seamless data flow across platforms.
Geofencing: Utilize location-based technology to ensure employees clock in and out only when they are within designated work areas.
Task Management: Assign and track tasks to ensure project deadlines are met and productivity is maintained.

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

#90

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#1

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Analyst Rating Summary

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User Sentiment Summary

93%

of users recommend this product

Timeco has a 'excellent' User Satisfaction Rating of 93% when considering 8 user reviews from 1 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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Awards

Synopsis of User Ratings and Reviews

Easy to Use: Users consistently praise Timeco's intuitive interface, making it simple to navigate and manage employee information, even for those with limited HR experience.

Comprehensive Features: Timeco offers a wide range of features, including time and attendance tracking, payroll processing, performance management, and employee onboarding, providing a one-stop solution for HR needs.

Mobile Accessibility: The mobile app allows HR professionals to access and manage employee data from anywhere, anytime, enhancing flexibility and responsiveness.

Excellent Customer Support: Users consistently highlight the responsiveness and helpfulness of Timeco's customer support team, providing timely assistance and resolving issues efficiently.

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.

Limited Mobile Functionality: Some users have reported that the mobile app lacks key features, making it difficult to manage tasks and access information on the go. For example, approving time off requests or viewing employee schedules can be cumbersome on the mobile app.

Steep Learning Curve: The software's interface can be complex and overwhelming for new users, requiring significant time and effort to master. This can lead to frustration and slow adoption, especially for employees who are not tech-savvy.

Lack of Customization: The system may not offer enough flexibility to tailor it to specific business needs. For instance, some users have found it difficult to customize reporting dashboards or create custom workflows to fit their unique processes.

Integration Challenges: Integrating Timeco with other HR systems or third-party applications can be challenging, leading to data inconsistencies and workflow disruptions. This can be a major pain point for businesses that rely on a connected ecosystem of HR tools.

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.

Is Timeco truly timely in addressing the needs of HR departments? User reviews from the past year paint a somewhat mixed picture. Some users praise Timeco's intuitive interface and robust reporting features, finding it a significant upgrade from previous HR management systems they've used. For example, many appreciate the streamlined onboarding process and the ease with which they can generate custom reports on employee data. However, a recurring complaint centers around Timeco's limited integrations with other software, particularly payroll and benefits platforms. This lack of interoperability necessitates manual data entry, which some users find cumbersome and time-consuming. Ultimately, Timeco seems best suited for small to medium-sized businesses with straightforward HR needs. Its user-friendly design and comprehensive core features make it a solid choice for managing essential HR functions. However, companies with more complex requirements or those heavily reliant on integrated systems might find Timeco's limitations frustrating.

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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