Concept: Procurement

Workday Procurement is built for global businesses of today. Workday addresses the unique requirements of both goods and services spend, and doesn't require you to deploy a multitude of disparate systems to bring your spend under management. From the requisition process all the way through to payment, Workday provides complete procure-to-pay functionality. We enable you to support and manage the information, policies, and processes relating to the acquisition of goods and services for your organization. The main goal for a procurement organization is to provide cost savings while implementing best practices in spend management. This often proves to be difficult as the tools necessary to implement these goals lie in multiple, disconnected systems. Workday enables you to bring together user profiles, business process controls, and analytics into a single cohesive solution. Procurement provides employee self-service as well as advanced functionality for administrative users.

These workflows assume that you've modified the Workday-supplied Procurement business process definitions to support more functionality, such as manager approval and supplier collaboration.

You can configure additional functionality when you:

Create and report on request for quotes (RFQs).

Create sourcing rules for auto-sourcing requisitions.

Create schedules for your auto-sourcing needs.

Manage backorders with buying alternatives and responses to purchase order acknowledgments.

Receive or create advance ship notices so you can effectively manage your shipped items and automatically create receipts.

Provide internal service deliveries with internal service providers and catalogs.

Configure worker procurement card transactions.

Enable scheduled procurement documents for supplier contracts.

Return goods with reasons and requirements for a smooth return process.

Create internal instructions for workers on how to create requisitions, spend authorizations, expense reports, and RFQs.

Freeze spend on requisitions, purchase orders, and spend authorizations.