How does Workday Release Management enhance your compliance adherence?

For businesses operating in an environment of ever-evolving regulations and legislative updates, maintaining compliance is not just a goal—it's a constant journey. Workday, a pioneer in cloud-based enterprise solutions, understands the challenges faced by organizations in staying compliant with the latest regulatory and legislative changes. 

Workday Release Management has emerged as a powerful ally in this journey, offering Workday users a robust solution to navigate and implement updates seamlessly. In this blog, get a detailed insight into how Workday Release Management can help enhance your compliance and regulatory and legislative adherence. Additionally, gain an overview of Workday Release Management services from Workday AMS partner Jade Global, crafted for the smooth and efficient integration of updates into your system. 

1. Centralized Compliance Management- Workday Release Management serves as a centralized hub for managing compliance in the Workday ecosystem. It allows you to consolidate all compliance-related activities, documentation, and updates in one place, providing a unified view of their compliance status. This centralized approach streamlines the process, making it easier for your organization to stay on top of regulatory changes.  

2. Automated Compliance Tracking - Regulatory and legislative changes often come with tight deadlines. Through Workday Release Management, you can automatically track the compliance updates, ensuring that your organization is promptly informed about impending changes. Automated notifications and alerts enable you to stay proactive, reducing the risk of overlooking critical updates and facing potential compliance issues.  For instance, to meet the compliance with the FAFSA Simplification Act and Department of Education guidelines for the 2024-2025 award year, in Workday R1 2024, a new feature has been introduced. It handles the housing plan status for continuing and incoming students, enabling you to accurately calculate the cost of attendance for the award year and federal school code. 

3. Traceability and Audit Trails - Workday understands the importance of traceability in compliance management. With robust audit trails, Jade’s Workday Release Management support allows you to track changes made to the system, ensuring accountability and transparency. This feature is invaluable in demonstrating compliance to auditors and regulatory bodies, providing a comprehensive record of actions taken in response to updates. 

4. Customizable Workflows for Compliance Processes - Workday Release Management offers customizable workflows through which you can tailor compliance processes to your specific needs. Whether it's managing employee data in accordance with privacy regulations or adapting to changes in financial reporting standards, the platform accommodates diverse compliance requirements through flexible and adaptable workflows.  In Workday 2024 R1, Workday has implemented business processes for the assignment of user-based security groups and the creation of job profiles. This facilitates a structured approval workflow for these processes, ensuring adherence to a specific set of approval steps. 

5. Real-time Regulatory Intelligence - Staying informed about regulatory changes is a constant challenge. Workday Release Management integrates real-time regulatory intelligence, providing you with up-to-date information on legislative updates. This feature empowers you to make informed decisions, adapt quickly to changes, and proactively address compliance challenges. 

6. Efficient Testing and Rollback Procedures - Workday Release Management support ensures that your organization can thoroughly test updates before deployment. This is crucial for compliance, as it minimizes the risk of introducing errors that could lead to non-compliance. Additionally, the platform facilitates efficient rollback procedures, allowing organizations to revert to previous configurations in the event of unexpected issues during implementation. 

7. Documentation and Reporting for Audits - Audits are a reality for businesses operating in regulated industries. Workday Release Management simplifies the documentation and reporting processes required for audits. The platform generates detailed reports on compliance activities, providing a comprehensive overview of the steps taken to adhere to regulatory and legislative updates. 

8. Scalability for Future Regulatory Changes - Workday Release Management is designed to scale with the evolving needs of regulatory compliance. As new regulations emerge and existing ones undergo modifications, the platform ensures that your organization can adapt seamlessly. This scalability future-proofs your organization against the challenges posed by an ever-changing regulatory landscape.  For instance, in Workday 2024 R1 release, Workday delivered a new task and business process that enables you to regenerate an Employment Agreement document with corrected data after completing a hire. This makes it easier to change details on an employment agreement and review the updated document for candidates and pre-hires, improving hiring efficiency by reducing manual effort, and compliance risks. 

Get the Best of Workday Release Management with AMS Partner –Jade Global 

Workday's release is a chance to enhance your system for critical business needs. However, planning and testing the impact of the updates on your unique setup can be challenging. 

 Workday Release Management is critical for your Workday tenant, but it is an additional commitment to your time and resources, especially during Workday's semi-annual significant updates. Workday 2024 R1 has arrived, and Jade can ensure you're on the right track with Workday Release Management. Our certified AMS experts can do the heavy lifting for you, from developing the feature adoption plan, conducting feature impact analysis, and regression testing the release items to implementing the latest features. We ensure you effortlessly adapt the latest features to their full advantage. Also, here are Jade’s Release Notes that provide a sneak peek at the latest updates and the substantial benefits they bring to your core business activities.