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Software · head to head

Wise Business vs Workday

Wise Business logo

Wise Business

Software

The smart way to send and receive business payments

From
$29/month
Rated
-
Full reviewWebsite
Workday logo

Workday

Software

Enterprise cloud applications for finance and HR

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Wise Business opening a Wise Business account in the UK carries a one off setup fee of 50 GBP; Workday high implementation costs equal to or exceeding annual software fees
  • They diverge on capability: Wise Business covers Multi-currency accounts, Workday covers Human capital management.

Where they differ

Only the attributes on which Wise Business and Workday actually diverge.

Attributes where Wise Business and Workday differ
AttributeWise BusinessWorkday
Starting price$29/monthOn request
Pricing modelusage-basedquote
PlatformsWeb, Ios, Android, ApiCloud/Web
Founded20112005

Identical on both: free tier (No), user rating (Not yet rated), category (Unknown).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Wise Business

  • Multi-currency accounts
  • International transfers
  • Batch payments
  • API access
  • Team management
  • Xero
  • QuickBooks
  • Various

Only in Workday

  • Human capital management
  • Financial management
  • Planning
  • Analytics
  • Payroll
  • Time tracking
  • Talent management
  • Procurement

What people use each for

The jobs each tool is most often brought in to do.

Wise Business

  • Holding and converting multiple currencies as a businessnot Workday
  • Paying international suppliers and contractors at the mid market ratenot Workday
  • Receiving payments into local currency account details in several countriesnot Workday

Workday

  • HR managementnot Wise Business
  • Financial planningnot Wise Business
  • Workforce planningnot Wise Business
  • Compliancenot Wise Business
  • Analyticsnot Wise Business

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Wise Business

  • Opening a Wise Business account in the UK carries a one off setup fee of 50 GBP
  • Volume discounts on transfers start only above 20,000 GBP equivalent sent per month

Workday

  • High implementation costs equal to or exceeding annual software fees
  • Long deployment timelines (12-18 months standard) before ROI
  • Steep per-employee pricing at enterprise scale ($408-504 PEPM)
  • Limited pre-built templates and customization; often requires extensive configuration
  • Requires significant IT and change management resources during implementation

Pricing, plan by plan

Wise Business

$29/month
  • StandardFree
    • Multi-currency account
    • Real exchange rate
    • Batch payments

Workday

On request
  • Small Business$undefined/month
    • Core HR
    • Payroll
    • Time tracking
  • Medium Enterprise$undefined/month
    • Full HCM suite
    • Financial management
    • Advanced analytics
  • Large Enterprise$undefined/month
    • Complete platform
    • Custom configurations
    • Dedicated support

Which should you pick?

Choose Wise Business if

  • You need multi-currency accounts.
  • You work on Web, Ios, Android, Api.
  • You also want international transfers.
Wise Business review

Choose Workday if

  • You need human capital management.
  • You work on Cloud/Web.
  • You also want financial management.
Workday review

Questions people ask

Is Wise Business or Workday better?
Neither clearly leads. Wise Business starts at $29/month and Workday at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Wise Business or Workday?
Wise Business starts at $29/month and Workday at On request.
Does Wise Business or Workday run on more platforms?
Wise Business runs on Web, Ios, Android, Api. Workday runs on Cloud/Web.
What is Wise Business best used for?
Wise Business is most often used for holding and converting multiple currencies as a business, paying international suppliers and contractors at the mid market rate, receiving payments into local currency account details in several countries. Of those, holding and converting multiple currencies as a business and paying international suppliers and contractors at the mid market rate are not what Workday is typically brought in for.
What can Wise Business do that Workday cannot?
Wise Business covers Multi-currency accounts, International transfers, Batch payments, API access. Workday covers Human capital management, Financial management, Planning, Analytics.

Answered from the vendors’ own pages

Workday: What is Workday GO and what market is it designed for?

Workday GO is a product designed for small and midsize organizations, bringing together HR and finance solutions with transparent pricing and fast activation in 30 to 60 days. It includes HCM, benefits, payroll, talent, and more at a lower price point than standard Workday.

Source
Workday: What is Workday Skills Cloud and how does it fit into HCM?

Workday Skills Cloud is an intelligent skills foundation built into Workday HCM. It is described as the world's most open intelligent skills foundation and fuels data-driven talent strategies across recruiting, learning, and workforce planning.

Source
Workday: Does Workday include payroll and benefits management?

Yes. Workday HCM includes benefits administration and payroll capabilities as part of its core suite. Global payroll processing is available across multiple countries and tax jurisdictions.

Source
Workday: What is the typical pricing model for Workday HCM?

Workday HCM uses per-employee (PEPM) annual subscription pricing. Companies at scale typically pay $34-42 PEPM. Enterprise organizations with 5,000+ employees typically pay $408-504 per employee annually. Pricing decreases with larger commitments and longer contract terms.

Source
Workday: How long does Workday implementation typically take?

Standard implementations are lengthy, often taking 12-18 months. Workday GO promises faster activation in 30-60 days. Implementation costs typically equal 100-150% of the first year's software subscription fees.

Source
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Related pages

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