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Oracle HFM vs Workiva Wdesk comparison

Oracle and Workiva are both solutions in the Business Performance Management category. Oracle is ranked #6 with an average rating of 8.2, while Workiva is ranked #11 with an average rating of 7.0. Oracle holds a 9.8% mindshare in BPM, compared to Workiva’s 3.2% mindshare. Additionally, 100% of Oracle users are willing to recommend the solution, compared to 71% of Workiva users who would recommend it.
Oracle HFM
Read 15 Oracle HFM reviews
  • 1,846 Views
  • 1,320 Comparison Views
100% willing to recommend
Workiva Wdesk
Read 7 Workiva Wdesk reviews
  • 477 Views
  • 295 Comparison Views
71% willing to recommend
 

Comparison Buyer's Guide

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Executive SummaryUpdated on Dec 19, 2024

Oracle HFM and Workiva Wdesk compete in the financial management software category. Workiva Wdesk leads with real-time reporting and collaboration, while Oracle HFM is known for its strong consolidation features.

Features: Oracle HFM provides powerful financial consolidation, multi-currency translations, and complex ownership calculations. Workiva Wdesk offers integrated document management, real-time collaboration tools, and seamless ERP integration.

Room for Improvement: Oracle HFM could enhance its cloud capabilities, streamline user interface, and reduce setup complexity. Workiva Wdesk might improve deeper financial analytics, expand offline capabilities, and enhance multi-currency handling.

Ease of Deployment and Customer Service: Oracle HFM's on-premises model requires more resources for implementation, while Workiva Wdesk's cloud-based deployment allows quick setup. Oracle HFM has extensive support, yet Workiva Wdesk is noted for its responsive service.

Pricing and ROI: Oracle HFM carries higher upfront costs due to on-premises setup, offering long-term consolidation benefits. Workiva Wdesk follows a subscription model with lower initial investment, often providing faster ROI through quick deployment and productivity.

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Buyer's Guide
Oracle HFM vs. Workiva Wdesk
December 2024
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Review summaries and opinions

We asked business professionals to review the solutions they use. Here are some excerpts of what they said:
 

Customer Service

Sentiment score
6.5
Oracle HFM support is knowledgeable but sometimes slow; users rely on partner networks and external resources for help.
Sentiment score
6.6
Workiva Wdesk support is responsive and well-rated but often redirects users to insufficient resources lacking direct solutions.
 

Scalability Issues

Sentiment score
8.2
Oracle HFM supports large organizations effectively, offering scalability and stability, though some prefer SuccessFactors for better scalability options.
Sentiment score
6.8
Workiva Wdesk excels in scalability for reporting, but occasional connectivity issues and new reports might be better managed in Excel.
 

Stability Issues

Sentiment score
8.1
Oracle HFM is stable, reliable, user-friendly, but occasionally performance issues arise despite consistent high stability ratings.
No sentiment score available
 

Room For Improvement

Oracle HFM needs modern updates in usability, integration, and functionality, including improved reporting, automation, and a unified system.
Users seek improvements in Workiva Wdesk for data management, including search, data handling, compatibility, and Excel integration features.
 

Setup Cost

Oracle HFM's user-based licensing is costly but ensures compliance, reduces risks, and offers a good return on investment.
 

Valuable Features

Oracle HFM excels in data consolidation, multi-currency handling, and financial reporting, offering flexibility and user-friendly access.
Workiva Wdesk streamlines compliance with robust features, seamless ERP integration, dynamic updates, and strong collaboration for efficient workflows.
 

Categories and Ranking

Oracle HFM
Ranking in Business Performance Management
6th
Average Rating
8.2
Reviews Sentiment
7.0
Number of Reviews
15
Ranking in other categories
No ranking in other categories
Workiva Wdesk
Ranking in Business Performance Management
11th
Average Rating
7.0
Reviews Sentiment
7.0
Number of Reviews
7
Ranking in other categories
GRC (5th), Financial Close Software (2nd)
 

Mindshare comparison

As of December 2024, in the Business Performance Management category, the mindshare of Oracle HFM is 9.8%, up from 8.9% compared to the previous year. The mindshare of Workiva Wdesk is 3.2%, up from 1.5% compared to the previous year. It is calculated based on PeerSpot user engagement data.
Business Performance Management
 

Featured Reviews

AhmedHaridy - PeerSpot reviewer
Offers flexibility and ease of configuration
The initial setup of Oracle HFM is generally straightforward and not overly complex. The deployment time for Oracle HFM varies with the resources, but it usually takes around three to eight months, with an average of three to four months. The deployment process for Oracle HFM involves several key steps. It begins with the installation of Oracle software, followed by gathering requirements and relevant documents. These documents help define the report formats and service needs. Next, the team configures the system, starting with the enterprise structure, which needs to align with the ERP system. Data loading and configuration follow, with Oracle HFM typically requiring more resources compared to other systems like SuccessFactors.
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Phillip Gough - PeerSpot reviewer
The solution is easy to deploy and enables collaboration, but it must improve its speed and enable users to create pivot tables
I rate the ease of setup an eight out of ten. The initial setup was straightforward. The solution is cloud-based. We deployed the product along with Wdata in six months. It was for a lot of use cases. To deploy the tool, we designed the use cases and developed them. Then, we went through unit tests, integration tests, and user acceptance tests. It was an Agile delivery cycle.
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Top Industries

By visitors reading reviews
Manufacturing Company
12%
Financial Services Firm
12%
Computer Software Company
11%
Healthcare Company
5%
Financial Services Firm
18%
Educational Organization
16%
Computer Software Company
8%
Insurance Company
7%
 

Company Size

By reviewers
Large Enterprise
Midsize Enterprise
Small Business
 

Questions from the Community

What do you like most about Oracle HFM?
The most valuable feature is the flexibility and ease of configuration in terms of testing and formula creation.
See all answers
What is your experience regarding pricing and costs for Oracle HFM?
It depends on the discount offered by Oracle. It is an expensive product but delivers what it promises, ensuring regulatory compliance, reducing risks associated with spreadsheets, and providing a ...
See all answers
What needs improvement with Oracle HFM?
Improvements can be made by possibly different interfaces to modernize it, more automation in scripting, and better integration with third-party solutions and reporting capabilities.
See all answers
What do you like most about Workiva Wdesk?
The most valuable feature is its ability to easily upload and update financial results, creating a dynamic data sheet.
See all answers
What is your experience regarding pricing and costs for Workiva Wdesk?
Wdesk is affordable and as far as I'm aware, there were no additional costs beyond the standard license increase. We didn't have to make any other changes; it primarily involved accessing the platf...
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What needs improvement with Workiva Wdesk?
The tool's script encoding needs to be updated to make it more user-friendly and less of a manual process when changes are made to a company's program. Those changes happen frequently due to mandat...
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Comparisons

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Compared 11% of the time
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Compared 34% of the time
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Compared 9% of the time
OneTrust GRC vs Workiva Wdesk Logo
OneTrust GRC vs Workiva Wdesk
Compared 8% of the time
RSA Archer vs Workiva Wdesk Logo
RSA Archer vs Workiva Wdesk
Compared 8% of the time
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Product Reports

Buyer's Guide
Oracle HFM
December 2024
Oracle HFM reportDownload Oracle HFM product report
Buyer's Guide
Workiva Wdesk
December 2024
Workiva Wdesk reportDownload Workiva Wdesk product report
 

Also Known As

HFM
Wdesk
 

Learn More

Oracle
Workiva
 

Overview

Oracle Hyperion Financial Management is a financial consolidation and reporting application built with advanced Web technology. It provides financial managers the ability to rapidly consolidate and report financial results, meet global regulatory requirements, reduce the cost of compliance and deliver confidence in the numbers.

Wdesk is used across the enterprise to support hundreds of data collaboration, reporting, and compliance processes. Use Wdesk to:

  • Optimize your structured and composite reports
  • Improve trust in your data, reports, and presentations
  • Transform processes to enable insight
 

Sample Customers

B&B Hotels, Goldwind, Drake & Scull
Noodles Company, eBay, Winnebago, American Assets Trust, AmericanEnterprise, Calpian, Capstone Infrastructure, Cascades, Circor International, Coeur Mining, Davey, Dr Pepper Snapple
Buyer's Guide
Oracle HFM vs. Workiva Wdesk
December 2024
Free Report: Oracle HFM vs. Workiva Wdesk
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