Workday 2024 Release 1 (R1), the company’s most recent biannual release, offers a significant improvement to HCM, Financial Management, Analytics, and the whole Workday platform. We’ll go over the essential information of Workday 2024 R1 release in this post.

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Explore The Key Enhancements in
Workday’s 2024 Release 1 Update
 2 months ago Jhonson
Workday 2024 Release 1 (R1), the company’s most recent biannual release, offers a
significant improvement to HCM, Financial Management, Analytics, and the whole
Workday platform. We’ll go over the essential information of Workday 2024 R1
release in this post.
About Workday Releases
Workday delivers new features and fixes through weekly service updates and larger
semiannual releases. Service updates provide minor enhancements and patches.
Major releases like 2024 R1 include more significant capabilities requiring customer
adoption.
Workday’s releases follow a naming convention of the year and release number. 2024
R1 is the first major release of 2024, coming after extensive input from customers and
testing.
Top HCM Innovations in Workday 2024 R1
The 2024 R1 release incorporates several big updates for Workday Human Capital
Management:
Enhanced Hire Process- The hire workflow gets UI updates and more
configurable options to improve the experience for hiring managers. This allows
tailoring to specific needs.
Business

2. Benefit Billing Capabilities- New features like insufficient funds status for
employees provide greater control and management over benefits billing and
administration.
Recruiting Tools- Workday introduces new 2024 R1 recruiting capabilities like
Paradox AI chatbots to engage and assist candidates, as well as support for
virtual/in-person recruiting events.
Consent Management- Employees can now provide consent preferences for use
of personal data, enabling greater transparency.
Together these updates create a more streamlined, tailored hiring and HR
management experience for organizations using Workday HCM.
Key Workday 2024 R1 Updates for Financials
Major financial management innovations in Workday 2024 R1 include:
Faster Transaction Processing- Background processing for high-volume
accounting tasks dramatically improves transaction speeds.
Smarter Spend Classification- With machine learning advancements, the system
is now better equipped to automatically categorize expenses.
Expanded Planning- New modeling capabilities allow customers to forecast and
plan for more scenarios in financial planning.
Richer Reporting- Financial data can now be combined with HCM, Prism
Analytics, and other data sets for multi-dimensional reporting and insights.
Improved Invoice Workflows- More controls and automation for PO-based
invoice workflows.
These updates make financial operations faster, smarter, and more efficient for
Workday customers.
New Analytics Capabilities in Workday 2024 R1
For analytics, Workday 2024 R1 delivers:
Additional Metrics- Providing more out-of-the-box metrics across HCM,
Financials, and People Analytics for greater insights.
Custom Metric Creation- New ability to build and configure custom metrics using
various data sources as required.

3. Enhanced Prism Analytics- Features like connectors, relationship discovery, and
more enable easier access to data for analysis.
Mobile Analytics Upgrades- Prism Mobile app gets improvements for data
exploration and insights on the go.
These enhancements equip customers with greater access to analytics for informed
decisions.
Other Important Workday 2024 R1 Highlights
Beyond the major domains covered, Workday 2024 R1 also includes:
Beefed Up Security- Improved tenant isolation, role-based access, and automated
security changes provide greater protection.
Faster App Development- New tooling and frameworks enable faster building of
extensions and apps.
Accessibility Improvements- Enhanced WCAG compliance makes Workday more
accessible.
Better User Experience- Various updates to UI, information presentation, and
workflows.
Conclusion
Workday 2024 R1 represents a major update across HCM, Financials, Analytics, and
the broader Workday platform. Customers should evaluate the new capabilities and
plan adoption to maximize value. Opkey provides no-code Workday test automation,
enabling users of all skill levels to streamline update testing. With built-in intelligence,
Opkey analyzes and automatically generates scripts. Change impact analysis reports
prioritize testing on critical Workday elements. Pre-built accelerators for functional,
regression, performance and security testing reduce SME workload by over 70%. Test
discovery mines a unique Workday environment, identifying gaps to improve
coverage. Opkey is the leading choice for simple, intelligent Workday testing
automation that increases efficiency and reduces risk.
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