Workday Financial Management
by Workday Financial Management
by Workday Financial Management
Profile Information Last updated on: 1 July 2024
Profile Information Last updated on: 1 July 2024
We help make selecting a software for your business effortless, economical and efficient.
by Workday Financial Management
by Workday Financial Management
Profile Information Last updated on: 1 July 2024
Profile Information Last updated on: 1 July 2024
Training Types:
Support Services:
Data Encryption
Encryption at Rest: Workday uses the Advanced Encryption Standard (AES) algorithm with a key size of 256 bits to encrypt data at rest. This ensures that all customer data stored in the database is protected from unauthorized access.
Encryption in Transit: Data transmitted over the internet is protected using Transport Layer Security (TLS), which secures network traffic from passive eavesdropping, active tampering, and message forgery.
File-Based Integrations: Workday supports encryption for file-based integrations using PGP or a public/private key pair generated by Workday, ensuring secure data exchange.
Access Control
Role-Based Access Control (RBAC): Workday provides granular control over user access through role-based security. This ensures that only authorized individuals can access sensitive financial data based on their job responsibilities.
Multi-Factor Authentication (MFA): Workday supports multi-factor authentication, requiring users to provide additional verification beyond passwords, enhancing security.
Single Sign-On (SSO): Workday supports SAML for single sign-on, allowing seamless and secure access to the platform from the customer’s internal web portal.
Physical Security
Data Centers: Workday's data centers are equipped with multiple layers of authentication, camera surveillance, and 24/7 security personnel. These centers adhere to strict physical and environmental security measures, including redundant power management systems and fire suppression.
Access Restrictions: Physical access to data centers is highly restricted and monitored, ensuring that only authorized personnel can access critical infrastructure.
Compliance and Audits
Regulatory Compliance: Workday complies with various international privacy regulations, including GDPR. It maintains a comprehensive information security program to prevent unauthorized access and ensure data privacy.
External Audits: Workday undergoes regular external audits, including SOC 1 and SOC 2 reports, to ensure compliance with security standards. These audits cover security, availability, confidentiality, processing integrity, and privacy.
Monitoring and Updates
Continuous Monitoring: Workday implements continuous monitoring and auditing processes to detect and respond to potential security incidents proactively. This includes real-time alerts for unusual activities and regular review of system logs and audit trails.
Security Patches and Updates: Workday regularly releases security patches and updates to address potential vulnerabilities. Organizations are encouraged to stay up-to-date with these releases and apply patches promptly.
Employee Training and Awareness
Security Training: All Workday employees receive security, privacy, and compliance training from day one. Ongoing training is provided to minimize risks and ensure adherence to security best practices.
User Education: Organizations are encouraged to conduct regular security training sessions for their employees, raising awareness of potential threats and best practices for data protection.
Frequency of Updates:
Workday Financial Management releases updates twice a year, typically in March and September. These updates include new features and enhancements to the platform.
Management of Updates:
Data Ownership: Customers own the data they input into Workday's systems. Workday acts as a data processor, handling data according to the customer's instructions.
Data Portability: Workday provides tools and features to help customers export their data. This includes the ability to extract data in various formats, ensuring that customers can move their data as needed.
Compliance: Workday complies with international data protection regulations, such as GDPR, ensuring that data handling practices meet stringent privacy and security standards.
Contract Renewal:
Contract Cancellation: