What capability does Workday Financials offer for grant management?

Workday Financials provides robust functionality for tracking and managing grants, making it a powerful tool for organizations that handle grants in their financial operations. This capability allows users to monitor grant applications, funding, compliance requirements, and the overall financial performance of grants throughout their lifecycle.

In addition to tracking financial commitments, Workday enables organizations to align grant expenses with budgets, ensuring accurate reporting and accountability. Grant management also involves overseeing timelines, deliverables, and adherence to funding guidelines, which Workday supports through its integrated approach to financial management.

While real-time analytics is a feature of Workday that enhances decision-making, it specifically pertains to the analysis of data rather than the management of grants themselves. Facilitating customer refunds and processing payroll transactions, while important functionalities within Workday Financials, do not relate directly to grant management as they focus on different financial aspects of the organization.