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As every year Workday launches two major releases. The first, Workday 2023R1, will be released in early March with a focus on innovation and improving the user experience. With a variety of new features and enhancements, Workday 2023R1 promises to simplify the lives of your users and increase the efficiency of your business.  

Want to get the most out of Workday 2023 R1? Let us guide you through the new release. BNB’s Workday experts will help you understand the latest Workday capabilities and better adopt the new features.

What’s new – HCM Trends

1. Improved user interface: The user interface has been redesigned to be more intuitive and user-friendly, making navigation and access to information faster and easier.
2. Improved talent management processes: Talent management has been enhanced to provide a smoother and more efficient experience for users, including streamlined performance review and objective assessment processes.
3. Improvements to recruitment and selection functionality, with new tools for employee profiling and requirement management.
4. Improvements in compensation management: Compensation management has been enhanced with new functions, such as the creation of compensation models and the automatic allocation of bonuses and salary adjustments.
5. Improvements to absence management functionality, with new tools for absence planning and request management.
6. Improved learning and development functionality, with new tools for planning and tracking employees’ progress in their professional development.

What’s new – FIN Trends

1. New functionality enabling email ingestion and OCR functionality: An OCR has been integrated to the Supplier Accounts functional based on Machine Learning. This will streamline the invoices recording process enabling users optimize their time.With this new functionality, the AP email can be configured and we can route all supplier invoices received there to the OCR and Workday recreates the invoice allowing the user to just confirm or adjust fields rather than creating it from scratch.
2. Improvements in the purchasing processes, with new functionalities such as the categorisation of attached files, the internal purchasing process is optimized, achieving greater agility from the moment the purchase need arises until the supplier to whom the purchase was made is paid.
3. Improvements in customer invoicing management, with new functionalities that allow templates to be generated to consolidate invoicing plans, automating the process and allowing the team to focus on collections and ensuring that cash flow is optimal.

In addition, there has been an improvement on integrations with external applications: Workday 2023R1 offers enhanced integration with third parties, enabling greater efficiency, new alternatives for data integration, and automation in managing HR and finance processes.

In summary, the new Workday 2023R1 release is an upgrade that delivers a number of new features and enhancements that will improve the user experience and increase the efficiency and effectiveness in HR and financial processes management.

If you’re looking to learn more about what’s new in Workday 2023R1 and prepare your organization for these changes, contact BNB today and let us help you make the most of it. We’re ready to upgrade your business to the next level.