Workday for Nonprofits: Features, Benefits & Costs

Workday for Nonprofits

Workday is a cloud-native (SaaS) ERP solution from Workday that provides nonprofits companies with the tools they need to streamline operations, improve efficiency, and drive growth. With capabilities spanning Financial Management, Human Capital Management, Payroll, Workforce Planning, and more, Workday addresses the unique challenges facing today's nonprofits organizations.

Nonprofits companies face increasing pressure around donor management and fundraising optimization, grant compliance and restricted fund tracking, budget transparency and accountability. Workday provides purpose-built functionality to help organizations overcome these challenges while maintaining compliance with standards such as FASB ASC 958, OMB Uniform Guidance, IRS reporting (Form 990).

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Key Features and Modules for Nonprofits

Workday offers a comprehensive set of features tailored for nonprofits operations:

Fund accounting: Workday provides robust fund accounting capabilities that help nonprofits organizations manage their fund accounting processes more effectively, with real-time visibility and automation to reduce manual effort.
Grant management: Workday provides robust grant management capabilities that help nonprofits organizations manage their grant management processes more effectively, with real-time visibility and automation to reduce manual effort.
Donor management: Workday provides robust donor management capabilities that help nonprofits organizations manage their donor management processes more effectively, with real-time visibility and automation to reduce manual effort.
Financial reporting: Workday provides robust financial reporting capabilities that help nonprofits organizations manage their financial reporting processes more effectively, with real-time visibility and automation to reduce manual effort.
Budgeting: Workday provides robust budgeting capabilities that help nonprofits organizations manage their budgeting processes more effectively, with real-time visibility and automation to reduce manual effort.

Beyond these core modules, Workday offers unified platform for finance and HR, machine learning and AI-powered analytics, and continuous updates with zero downtime to provide a complete solution for nonprofits businesses.

Benefits for Nonprofits Companies

Implementing Workday can deliver significant benefits for nonprofits organizations:

Restricted vs. unrestricted fund tracking and reporting: Workday's integrated platform ensures that nonprofits companies can achieve restricted vs. unrestricted fund tracking and reporting, reducing inefficiencies and improving overall performance.
Automated grant compliance and reporting: Workday's integrated platform ensures that nonprofits companies can achieve automated grant compliance and reporting, reducing inefficiencies and improving overall performance.
Real-time donor insights and fundraising analytics: Workday's integrated platform ensures that nonprofits companies can achieve real-time donor insights and fundraising analytics, reducing inefficiencies and improving overall performance.
Transparent budget-to-actual reporting for stakeholders: Workday's integrated platform ensures that nonprofits companies can achieve transparent budget-to-actual reporting for stakeholders, reducing inefficiencies and improving overall performance.
Multi-entity consolidation for chapters and affiliates: Workday's integrated platform ensures that nonprofits companies can achieve multi-entity consolidation for chapters and affiliates, reducing inefficiencies and improving overall performance.

Ready to evaluate Workday for your nonprofits business? Get a personalized pricing estimate based on your specific requirements, or connect with a certified implementation partner who specializes in nonprofits.

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Implementation Considerations

When implementing Workday for a nonprofits organization, there are several important factors to consider:

Timeline: A typical Workday implementation for nonprofits companies takes 3–12 months, depending on the scope of modules deployed and degree of customization required.
Data migration: Nonprofits organizations often have complex data structures spanning fund accounting, grant management, donor management that must be carefully mapped and migrated to Workday.
Regulatory compliance: With nonprofits regulations including FASB ASC 958 and OMB Uniform Guidance, the implementation must ensure all compliance requirements are configured from day one.
Change management: Training and change management are critical for adoption. Workday's modern interface and guided workflows can help ease the transition for end users.
Integration requirements: Most nonprofits companies need Workday to integrate with existing systems. Workday supports this through open APIs and pre-built connectors, though integration complexity should be scoped early.

Pricing and Cost Considerations

Workday pricing for nonprofits companies requires custom quote, enterprise-level pricing. The total cost of ownership depends on:

User count and licensing: $100–$300+/user/month for Financial Management
Modules selected: Nonprofits-specific modules such as fund accounting, grant management, donor management may require additional licensing
Implementation services: Professional services for configuration, customization, data migration, and training
Ongoing costs: Annual maintenance, support, and cloud hosting fees

For a detailed cost estimate tailored to your nonprofits requirements, get a custom Workday pricing quote.

Why Choose Workday for Nonprofits?

Workday stands out as a strong ERP solution for nonprofits companies for several key reasons:

Unified platform for finance and HR helps nonprofits organizations gain a competitive edge
Machine learning and AI-powered analytics ensures smooth end-to-end operations
Strong workforce planning and analytics supports growth and geographic expansion
Industry-specific functionality for fund accounting, grant management, donor management addresses the unique needs of nonprofits businesses
Compliance with FASB ASC 958 and OMB Uniform Guidance is built into the platform

Get Started with Workday for Nonprofits

Ready to move forward? Here are your recommended next steps:

Get Workday Pricing — Receive a personalized cost estimate based on your nonprofits requirements
Compare Workday — See how Workday compares to other ERP solutions for nonprofits
Define Your ERP Requirements — Use our free tool to build your nonprofits ERP requirements checklist

Frequently Asked Questions

What is Workday for Nonprofits?

Workday for Nonprofits is a cloud-native (SaaS) ERP solution designed to help nonprofits organizations manage their core business processes including fund accounting, grant management, donor management, financial reporting. It is developed by Workday and is widely used by nonprofits companies ranging from mid-size businesses to large enterprises.

How much does Workday cost for nonprofits companies?

Workday pricing for nonprofits organizations requires custom quote, enterprise-level pricing. Total cost depends on the number of users, modules selected (such as fund accounting and grant management), and implementation requirements. Get a personalized Workday quote for your nonprofits organization.

How long does it take to implement Workday in a nonprofits organization?

Implementation timelines for Workday in nonprofits typically range from 3 to 12 months, depending on the complexity of operations, number of modules, and extent of customization required. A phased approach is often recommended to reduce risk and accelerate time to value.

Does Workday support FASB ASC 958 compliance?

Yes, Workday includes features and configurations that support compliance with FASB ASC 958, OMB Uniform Guidance, IRS reporting (Form 990). The platform provides audit trails, reporting tools, and process controls that help nonprofits organizations meet their regulatory obligations. Implementation partners can further customize compliance workflows to match specific requirements.

Can Workday integrate with other nonprofits systems?

Workday offers robust integration capabilities through APIs, middleware, and pre-built connectors that enable connectivity with other nonprofits systems including specialized fund accounting software, donor management platforms, and third-party applications. This ensures nonprofits companies can maintain a connected technology ecosystem.

What are the main benefits of Workday for nonprofits companies?

The primary benefits of Workday for nonprofits companies include restricted vs. unrestricted fund tracking and reporting, automated grant compliance and reporting, and real-time donor insights and fundraising analytics. The platform also provides unified platform for finance and HR and machine learning and AI-powered analytics to help nonprofits organizations improve operational efficiency and drive growth.

Workday for Nonprofits: Features, Benefits & Costs