IFS Applications ERP vs. Workday | TechnologyAdvice (2022)

erp Resources IFS Applications ERP vs. Workday

IFS Applications ERP vs. Workday

We compare IFS Applications ERP and Workday to help you choose the right ERP software for your business.

IFS Applications ERP vs. Workday | TechnologyAdvice (1)

International companies such as Johnson & Johnson, Prada, and Cisco rely on enterprise resource planning (ERP) solutions like IFS Applications ERP and Workday ERP to manage different business departments efficiently. ERP solutions let businesses handle important parts of a business, including inventory and order management, accounting, human resources, and customer relationship management (CRM), using one integrated software.

IFS Applications ERP is a widely-used ERP software with over 10,000 customers all over the world. The majority of its users come from the service and asset management, manufacturing, and supply chain and project industries. Workday ERP is a frontrunner in enterprise-class ERP solutions for managing global businesses, combining a lower cost of ownership with an innovative approach to business applications.

In this article, we’ll compare some of the key features of IFS Applications ERP and Workday ERP to give you an idea of how each ERP software can help you manage your business better. If you want to explore more than two ERP solutions, use our Product Selection Tool. You’ll get a list of trusted ERP software vendors for free.

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IFS Applications ERP vs. Workday ERP: An overview

IFS Applications ERP is a versatile and full-featured ERP suite best for global businesses that manufacture and distribute goods, maintain assets, and manage service-focused operations. It has features for financials, human capital management, engineering, projects, manufacturing, supply chain, and sales and services. This ERP is ideal for mid-sized to large corporations. If offers high-end prices.

Workday ERP, or simply Workday, is a cloud-based software vendor that specializes in human capital management and financial management applications. Workday Inc. does not officially consider Workday solutions as ERP. However, it is widely considered to be in direct competition with ERP vendors because of its capabilities and features. Workday’s features include performance management, procurement, payroll, career and development planning, recruitment, purchase orders, real-time spend analytics, and revenue management. This ERP is suitable for mid- to large-scale businesses as well. It has high-end pricing.

Features comparison

IFS Applications ERP vs. Workday ERP both have features for human resources, financial management, and mobile access.

Human resources

The human resources feature from IFS Applications ERP is a comprehensive integrated toolkit that supports the people lifecycle from attracting talent through development and allocation to offboarding. The software allows the HR team to handle everything using a single system — including recruiting, onboarding, career planning, development, training, requirements like health and safety, time and attendance, travel management, and payroll. IFS Applications ERP enables businesses to identify, attract, and retain the right people. The software comes with self-assessment capabilities, recognition of objectives, and performance measurements, as well as feedback and managerial guidance.

Workday ERP helps businesses know their workforce, inside and out. The software lets HR teams manage various aspects of human resources, including planned hires, employee skills, attrition, and contingent workers. Businesses can administer and adjust plans, packages, and eligibility rules with ease with Workday. The system brings benefits and employee transactional data into the same system, so any change flows seamlessly into payroll. With this ERP’s self-service capability, users can request time off, view payslips, and make payment elections.

Financial management

With IFS Applications ERP, finance teams can have accurate and timely accounting information for reporting and decision making. The system has integrated ledgers so teams can manage and audit financials throughout the accounting cycle. This ERP software also has features for revenue and milestone billing schedules, cost and income statements, project cash control, and statutory compliance for traded revenues and margins.

Workday ERP offers one suite for financial accounting and reporting, enabling financial teams to run their accounting and finance processes smoothly. This software has real-time accounting so teams can immediately spot and address anomalies. Through this ERP, financial teams can set up suppliers, manage invoices, process approvals, and automate payments. Teams can manage accounts payable and the entire revenue lifecycle. The software can automatically create an expense item and add it to the system when users take a picture of a receipt.

Mobile access

IFS Aurena is IFS’s new state-of-the-art browser-based user experience that allows users to access IFS Applications ERP using their mobile devices. IFS Aurena is designed to work on mobile devices, allowing virtually any task to be performed on tablets and phones. Users can quickly perform tasks when they’re not logged into the application itself through the IFS Aurena Bot. With the bot feature, users can check future team availability, book leaves, or check stock levels. It lets the users perform a subset of everyday tasks, using natural language, text, or voice in a conversational manner. IFS Aurena also has a built-in page designer that allows users to easily configure page layouts, application navigation, and other aspects of the user experience. The system lets users configure custom fields, custom commands, and custom events.

Workday ERP can be accessed through mobile browsers, too. However, this software has a mobile application that can be downloaded from the App Store and Google Play Store. Users can submit requests for time off or expense reports, check on projects, and enter time spent on activities in real time through the mobile app. They can also keep up with their current work tasks and browse dashboards and reports. Managers can view team calendar activities or review information on team compensation or performance management. They can also drill into individual details about each employee to stay up to date with the team members even when they’re out of the office.

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Integrations

IFS Applications ERP seamlessly integrates with applications for file sharing, pricing, business performance management, financial reporting, and product information management:

  • Microsoft 365
  • Configure One
  • Mercur Business Control
  • FYIsoft
  • TrueCommerce PIM

Workday ERP has built-in integrations with solutions for employee engagement, expense management, invoicing, applicant tracking, and project management:

  • Kudos
  • Expensify
  • SAP Concur
  • Greenhouse
  • Mavenlink

The ERP software for your business

IFS Applications ERP and Workday ERP have many similarities: both are designed for mid-sized to large businesses, both are in the same price range, and both are user-friendly. In choosing the ERP for your business, the better-suited software would boil down to the specific features you want.

For example, IFS Applications ERP has features built particularly for the Aerospace and Defense industry, such as aircraft maintenance and engineering. This feature aids in optimizing aviation maintenance organizations. This unique feature can be a great deal of help if your business belongs to the aviation industry. On the other hand, Workday ERP offers an app development feature that allows businesses to build new applications. If you want to create exclusive applications for your business, Workday ERP might be the better choice for you.

If you’re still unconvinced, use our Product Selection Tool to learn about more ERP software options.

Not seeing the features you need from your ERP software? Let TechnologyAdvice recommend software that fits your needs.

Contact TechnologyAdvice at 877.702.2082 to get a free, 5-minute assessment of the ERP features you need and fast recommendations tailored to your requirements. Or visit our ERP software product selection tool to get started in just 3 fast steps right now online.

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erp ResourcesIFS Applications ERP vs. Workday

FAQs

Which is better IFS or SAP? ›

For most businesses, IFS offers more configurable features at a slightly lower price than SAP, but that doesn't mean IFS is the right choice for every business. It depends on the features you find the most important for your organization. However, when compared from an ease-of-use standpoint, IFS is the better choice.

Is workday a Tier 1 ERP? ›

Workday, in contrast, intends to be the first Tier I cloud-only provider. There are several things that point to Workday's objective. Tier I customers. Unlike NetSuite, which leads the cloud ERP market in terms of number of customers, Workday from its very beginning has been targeting large companies.

Is IFS a ERP system? ›

A: IFS develops Enterprise Resource Planning (ERP) software to help businesses better manage their financial resources, their inventory, and their people and processes. IFS also offers world class Enterprise Asset Management (EAM) software and Services Resource Planning (SRP).

What is IFS ERP and its benefits and competencies? ›

IFS enterprise software is a single platform designed to help businesses keep track of assets and manage services across their entire environment. With IFS, you will be able to maintain assets, manage, manufacture, and distribute goods with ease from start to finish.

Who are competitors of ifs? ›

Competitors and Alternatives to IFS
  • Microsoft.
  • Salesforce.
  • Astea International.
  • SAP.
  • ServiceMax.
  • ClickSoftware.
  • ServiceNow.
  • Oracle.

What is IFS Cloud? ›

IFS cloud is a product-centric enterprise software that offers a centralized solution to allow our company to track resources and administer services throughout our whole system. IFS Cloud is a highly scalable software that can be tailored to meet our particular industry needs.

Why is Workday not an ERP? ›

From a functional point of view, one can immediately see that Workday does not have an ERP solution, simply because they lack distribution, manufacturing, and most supply chain functionality—like transportation management and warehouse management.

Which ERP is the world leader? ›

Microsoft represented 31.5% of ERP market share. They have been a leader in the ERP software market for many years through its Dynamics product offerings. These ERP solutions provide a fully integrated tool for financials, supply chain, operations, reporting, manufacturing, and human resource activities.

What is so great about Workday? ›

Workday will significantly improve HR and Payroll compliance, reduce risk, provide better data for decision making, and increase efficiencies across the institution.

What is IFS salary? ›

An IFS Officer's overall salary would be around 60000 INR including all the perks and allowances.

What database does IFS use? ›

IFS applications rely on Oracle back-end databases, which are certified to run on Windows Server, Hyper-V, and Windows Azure.

How do I prepare for IFS? ›

How to prepare for IFS 2021?
  1. Refer to the exam pattern and syllabus of IFS. ...
  2. Download and solve previous year IFS Question Papers. ...
  3. Make a Proper IFS Study Plan. ...
  4. Solve IFS Test Series. ...
  5. Stay Healthy and calm. ...
  6. Time Management. ...
  7. Revision is the key.
26 Apr 2021

What is the latest version of IFS? ›

LONDON, July 7, 2022 /PRNewswire/ -- IFS, the global cloud enterprise software company, today announced the launch of IFS assyst 11.5.

What does IFS stand for in ERP? ›

IFS Applications, better known as IFS, is one of the leading solutions in the ERP market. It stands for Industrial and Financial Systems, making the whole acronym Industrial and Financial Systems Enterprise Resource Planning.

What does IFS stand for in IFS software? ›

November 2020) IFS AB (Industrial and Financial Systems) is a multinational enterprise software company headquartered in Linköping, Sweden. The company develops and delivers enterprise software for customers around the world who manufacture and distribute goods, maintain assets, and manage service-focused operations.

What is IFS module? ›

IFS Applications is a full-fledged ERP system. It contains modules for finance, HR, engineering, project management, manufacturing, inventory management, customer relationship management (CRM) and logistics.

What is IFS interface? ›

The integrated file system graphical user interface components allow a Java™ program to present directories and files in the integrated file system on the server in a GUI. To use the integrated file system graphical user interface components, set both the system and the path or directory properties.

What is full form of ERP? ›

Enterprise resource planning (ERP) refers to a type of software that organizations use to manage day-to-day business activities such as accounting, procurement, project management, risk management and compliance, and supply chain operations.

How difficult is Workday? ›

Workday is very user-friendly, easy to use and learn, and can meet the customer's need efficiently compared to other HCM collections. It is utilized in most organizations to manage their workforce performance, aims, and works.

Is Workday an ERP tool? ›

Both Oracle ERP and Workday are true cloud ERP systems for medium and large enterprises that offer comprehensive software solutions, including strong HCM solutions named Workday Human Capital Management and Oracle Fusion Cloud Human Capital Management.

How many ERP customers does Workday have? ›

By going beyond the boundaries of traditional enterprise resource planning (ERP), our more than 9,500 customers deployed in over 175 countries use Workday to transform the way their organizations operate.

Which ERP does Microsoft use? ›

SAP is how business gets done at Microsoft. Our SAP environment is critical to our business performance and is integrated into most of our business processes. SAP provides functionality for human resources, finance, supply chain management, commerce, and other enterprise services at Microsoft.

Is ERP outdated? ›

Outdated ERPs pose serious security challenges as they may have unfixed security bugs and vulnerable access points. According to a study, 87% of business computers feature outdated software, including ERPs that are not up-to-date.

What ERP do large companies use? ›

What are the Top ERP Software for Large Business: Orion ERP, Kinaxis RapidResponse, Oracle ERP Cloud, SAP S/4 HANA, Ramco ERP, QAD ERP, Infor ERP, Aptean Ross ERP, Glovia, JD Edwards EnterpriseOne, Oracle PeopleSoft, Priority, Traverse, Oracle E-Business Suite, SAP S/4HANA Cloud, Epicor ERP, Exact Globe, SAP ERP are ...

Why do people use Workday? ›

Some of the benefits of this software suite are; Workday offers its users complete solutions to make better decisions based on data using its single-platform for Finance and HR. It engages people with its natural experience across various devices.

Why do I want to work for Workday? ›

Workday as a whole is a fantastic company that's doing great things, and is changing how team operate to make the best software in class. Workday offers a plethora of services and opportunities to aid in your growth as an employee and individual. They have a great culture and will make you feel included.

Is Workday a CRM? ›

Customer relationship management (CRM)

Currently, Workday does not offer a native CRM application. Instead, the company has forged a partnership with cloud computing leader Salesforce. As such, there is a native integration between the two companies via the Salesforce Service Cloud.

Is IFS a stressful job? ›

The job of an IFS Officer entails more mental stress and strain than physical discomforts or hazards. And time pressure is one such factor that results in their mental stress.

Does IFS earn enough? ›

An IFS(Foreign Service) Officer is provided a decent Salary and HRA/Quarters in the concerned country where he/she works, Domestic Assistance Allowance. 3. If posted in India an IFS Officer gets Rs. 60,000 per month where if he/she is posted in Indian Embassy, USA it would be $4000(around Rs.

Are IFS paid well? ›

An IFS officer in India earns an average salary between ₹56,100+FA and ₹2,25,000+FA. Currently, the DA is about 80% of the basic pay. The foreign allowance of an IFS officer may vary with their posting location and increases with seniority.

Is IFS SQL based? ›

IFS business logic is written in PL/SQL so the application is heavily reliant on Oracle database.

What is IFS functional consultant? ›

An IFS Consultant is a person who have been trained by IFS in their rolls as consultants of IFS standards. These consultants will be able to identify themselves as being truly knowledgable in the IFS standards and culture, and will be able to present their unique offering to potential clients.

Is it easy to clear IFS exam? ›

Yes Indian forest service is little bit easy than IAS because in forest service you don't have any optional subject… In forest service you have less syallbus in comparison with IAS… But in forest service you need alots of hard work, note making, practice etc..

How many attempts are there in IFS? ›

The maximum number of attempts restricted for candidates are as follows: General Candidates: 9 attempts. Scheduled Caste and Scheduled Tribe Candidates: No restriction. Other Backward Classes: 9 attempts.

Is physical fitness required for IFS? ›

Physical Fitness Criteria

There are some basic height, weight requirements for the candidates and they all have to undergo a physical fitness test who have to be qualified to make it to the final merit list. Chest expansion- minimum 84 cm with an expansion of 5 cm.

Who founded IFS? ›

IFS, founded in the early 1980's by Dr. Richard C. Schwartz, serves as both a psychotherapy modality & a mental paradigm.

What does IFS stand for in text? ›

IFS
AcronymDefinition
IFSI Feel Sick
IFSInput Field Separator
IFSI Feel Stupid
IFSIntegrated Financial System
91 more rows

What is IFS investment? ›

Investor Fund Services IFS is a leading Private Wealth Management firm that caters to various financial needs of HNIs, Ultra HNIs, and Corporate. We adapt to the ever-changing economic landscape while offering need-based solutions to our clients.

What is full form SAP? ›

What is the full form of IFS in UPSC? ›

IFS – Indian foreign service.

Which of the alternatives below are key innovations used in IFS Cloud? ›

Innovations such as IoT and digital twins, ready to use.

What are the key modules of IFS Avalon? ›

IFS ERP Modules Breakdown
  • Financial data.
  • Manufacturing.
  • Human resources.
  • Field service.
  • Service management.
  • Supply chain management.

What is IFS aurena? ›

IFS Aurena is a state-of-the-art browser-based user experience, that offers end-users an intuitive, and device responsive interface. It employs a consumer-first design, to drive employee engagement and productivity.

What type of system is Workday? ›

Workday is an enterprise management cloud solution. Workday is a cloud-native operating system for the business, not legacy architecture ported to the cloud. In an enterprise management cloud solution like Workday, at the center of the architecture is an intelligent data core.

Is Workday Financials an ERP? ›

Workday is an American software vendor that develops financial management, spend management and human capital management Cloud ERP software of the same name.

How many ERP customers does Workday have? ›

By going beyond the boundaries of traditional enterprise resource planning (ERP), our more than 9,500 customers deployed in over 175 countries use Workday to transform the way their organizations operate.

Is Workday similar to NetSuite? ›

Workday is a bit more specialized, whereas NetSuite has a lot of additional functionality. Both NetSuite and Workday are cloud-based (Workday can be on-premise), enterprise-level SaaS offerings, so there is no real difference in the way the software is usually deployed.

Is Workday easy to learn? ›

Workday is very user-friendly, easy to use and learn, and can meet the customer's need efficiently compared to other HCM collections. It is utilized in most organizations to manage their workforce performance, aims, and works.

Is Workday a good tool? ›

Workday is #1 ranked solution in top Benefits Administration tools, #2 ranked solution in top Talent Management tools, #2 ranked solution in top Cloud HCM tools, and #2 ranked solution in top Talent Acquisition tools. PeerSpot users give Workday an average rating of 8.0 out of 10.

Does Apple use Workday? ›

Companies using Workday HCM for Core HR include: Walmart, a United States based Retail organisation with 2300000 employees and revenues of $572.75 billion, Apple, Inc., a United States based Professional Services organisation with 154000 employees and revenues of $365.82 billion, CVS Health Corporation, a United States ...

Is Workday owned by Oracle? ›

Workday was founded by David Duffield, founder and former CEO of ERP company PeopleSoft, along with former PeopleSoft chief strategist Aneel Bhusri, following Oracle's acquisition of PeopleSoft in 2005. Workday, Inc.
...
Workday, Inc.
Workday headquarters in Pleasanton
Websiteworkday.com
Footnotes / references
17 more rows

Why is Workday different? ›

Unlike ERP systems with disparate applications, Workday brings best-in-class finance and HR applications into one powerful system. And with an intelligent data core that seamlessly connects your financial and people data, you have the insights and agility to make the right moves, and make them with confidence.

Who is Workday owned by? ›

Aneel Bhusri is co-founder and co-CEO at Workday. He is also chairman of the company's board of directors. Aneel has been a leader, product visionary, and innovator in the enterprise software industry for more than 20 years.

Is Workday a CRM tool? ›

Customer relationship management (CRM)

Currently, Workday does not offer a native CRM application. Instead, the company has forged a partnership with cloud computing leader Salesforce. As such, there is a native integration between the two companies via the Salesforce Service Cloud.

Does Workday sell data? ›

Workday does not sell personal data that we collect or process under this Privacy Statement.

What does HCM stand for in Workday? ›

Designed for the way people work, the Workday Human Capital Management (HCM) suite enables you to embrace change by providing workforce and operational insights.

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