Top 5 Updates to Financials in Workday 2022R2
Workday Financials Release 2022R2 is live and available to all customers! This release includes exciting new features and improvements that users have been requesting for some time. In this article, we will highlight the top 5 updates to Workday Financials in Workday 2022R2.
Create Non-PO Supplier Invoices in the Supplier Portal
Supplier contacts can now be enabled to create new supplier invoice requests from the supplier portal, separate from purchase orders or supplier contracts. Accounts payable specialists can then review the requests submitted and create supplier invoices. This will significantly reduce invoice processing time when purchase orders aren't needed!
Organization-Based Routing for Approval Chains
This enables you to route approval chain business process steps using organization-based routing reporting structure. It reduces manual workarounds for routing merit increase, hire request, and supplier invoice approvals.
Supplier Invoice Automation with OCR Scanning
This functionality allows for printed supplier invoices to be scanned using Optical Character Recognition and machine learning. This will reduce manual processing for AP specialists and improve processing efficiency as well as invoice cycle times!
Expenses Paid with Corporate Cards
Allows corporate credit card transactions and receipts to be directly linked within Workday to streamline the expense report creation process and ensure corporate card expenses are not reimbursed. Also includes functionality enhancing the expense report work area to improve efficiency of Expense Business Partners in their expense report analysis.
Include Invoice Attachments in Printed PDF
Workday now allows users to include customer invoice attachments when printing in a single PDF. This improves efficiency by reducing manual effort in providing documents.
How Can We Help?
Finding the time to prepare for each release can be tough, but don’t let that fact cause your organization to miss out on the latest features and improvements. Makse Group can help! Contact us today to hear more about our Workday release management and testing support services.
