General Glossary
Balancing Unit
An Other Worktag that can be used to maintain carry forward balances for Departmental Sales and Services.
Base Currency
Also known as default currency. The primary currency in which a Institute does business and reporting. For financial accounting, a Institute must have a base currency defined.
BI (Business Intelligence)
Business Intelligence transforms transactional data from enterprise softwares into actionable business information.
Bolt-On
A software application that adds missing capabilities and interfaces (bolts on) to an existing core software.
Budget Structure
Criteria for building budget or forecast budgets. Types of budget structures include financial, staffing and position. Budget structures can be configured to require approval, organized by dimension type (such as cost center or region), and updated with amendments.
Business Object
Workday stores data as business objects—organizations, workers, positions, and so on—which can be thought of as database tables or worksheets in Excel. Just as a database table or worksheet has columns and rows, a Workday business object has fields and instances.
Workday stores data as business objects—organizations, workers, positions, and so on—which can be thought of as database tables or worksheets in Excel. Just as a database table or worksheet has columns and rows, a Workday business object has fields and instances. A business object is composed of a set of related fields, similar to how a table or spreadsheet is composed of a set of related columns. Instances of a business object in Workday are like rows in a table or spreadsheet, with each instance representing a unique occurrence of that type of object such as an organization or worker. A business object can have no instances, one instance, or many instances. Workday automatically links related business objects together. For example, purchase order lines are linked to a purchase order header, the purchase order header is linked to a supplier, the supplier is linked to a Institute, and so on.
Business Process Definition
The set of tasks that need to be completed for an event to occur, the order in which they must be done and who must do them. Workday includes a number of predefined business processes for different purposes. Users can edit the default definitions for their organizations. Users can also create different versions of the same business process for different organizations.
Business Process Instance
A business process that the initiator has started. For example, the Hire Employee for Organization X business process definition becomes an instance when the initiator uses it to hire a particular applicant.
Business Process Security Policy
A business process security policy secures the initiation step, step actions and process-wide actions including view, rescind, cancel and correct. It specifies which security groups that have access to each action.
