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Workday Compensation from Workday
An integrated compensation management solution within Workday HCM that allows organizations to design, manage and execute compensation programs. Features include merit planning, bonus calculation, equity grant management, and advanced analytics with configurations for financial services firms.
Product analysis by function
Compensation Management Solutions for Operations and Finance
Software for managing complex compensation structures including carried interest, co-investment, and performance-based components.
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Compensation Structure Flexibility
(13 Yes /13 Known /13 Possible features)
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Carried Interest Configuration Ability to define and manage carried interest arrangements, including tiers, hurdles, and vesting schedules. |
Workday supports carried interest configuration via flexible plan design and equity grant management specifically aimed at financial services and VC/PE clients, per product documentation and testimonials. | |
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Co-investment Tracking Support for setting up, tracking, and reporting on co-investment programs for different stakeholders. |
Co-investment tracking is available for private equity, VC, and asset management scenarios through configurable compensation modules and custom fields, according to Workday's industry solutions. | |
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Performance Bonus Modeling Allows creation and management of performance-based bonus structures based on fund metrics. |
Performance bonus modeling is a core feature, as Workday enables creation and management of plans tied to fund or business results. | |
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Management Fee Calculation Automated calculation of management fees based on fund agreements and capital commitments. |
Management fee calculation can be configured using Workday’s compensation and advanced calculation engines, which accommodate various fee structures. | |
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Multiple Comp Plan Templates Provides pre-built and customizable templates for various compensation structures. |
Multiple compensation plan templates are supported with both pre-configured and customizable plans, as described on the product website. | |
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Pro Rata Allocations Handles pro rata allocations of profits and losses among participants. |
Pro rata allocations are supported through Workday’s plan design logic and formulas. | |
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Waterfall Distribution Modeling Ability to set up and model distribution waterfalls, including complex multi-tiered structures. |
Workday allows multi-tiered distribution modeling (waterfall modeling) for VC/PE funds, supported by reference materials and industry client use cases. | |
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Custom Vesting Schedules Support for multiple custom vesting schedules based on user-role or position. |
Custom vesting schedules are available for both equity and carried interest arrangements, which can be assigned per user type or grant. | |
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Retroactive Adjustments Can accommodate changes to compensation plans and recalculate past payments accordingly. |
Retroactive adjustments are supported in Workday, allowing recalculation of past payments based on updated plan rules. | |
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Granular Stakeholder Definition Allows defining compensation at the individual, team, or entity level. |
Granular stakeholder definition is enabled at team, group, and individual level in Workday compensation assignments. | |
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Integration with Legal Agreements Ability to link compensation modules with legal document management for consistency. |
Integration with legal agreements is possible via Workday’s document management and integration APIs. | |
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Multi-Fund Support Enables compensation tracking across multiple funds or SPVs simultaneously. |
Workday supports multi-fund compensation tracking through its flexible organization and compensation structure. | |
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Deferred Payment Support Ability to structure and automate deferred compensation arrangements. |
Deferred payment support is a documented functionality in Workday for both cash and equity programs. |
Data and Workflow Integration
(10 Yes /10 Known /10 Possible features)
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API Integration Supports integration via API with accounting systems, portfolio management, and HR platforms. |
Workday supports API integration with accounting and HR systems, per its extensible integration suite. | |
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Real-time Data Sync Automated syncing of compensation data with transaction and performance datasets. |
Real-time data syncing is a standard capability as Workday data is updated across modules instantly. | |
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Import/Export Capability Robust import and export tools for bulk data handling. |
Robust import/export capability is detailed in Workday documentation, including bulk file loads and extraction tools. | |
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Notification and Alerting Automated alerts/notifications for key compensation events and deadlines. |
Notification and alerting is standard in Workday, with customizable rules for compensation-related milestones and deadlines. | |
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Workflow Automation Configurable workflows to automate approval, review, and payout processes. |
Configurable workflow automation is a key element of Workday processes, including compensation changes. | |
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Document Management Integration Links compensation records with legal/HR documents. |
Document management integration is available through Workday’s document storage and linkage features. | |
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Third-Party Data Feeds Support for ingesting and processing data from external sources (e.g., Bloomberg, PitchBook). |
Third-party data feeds are supported via Workday integrations and connectors for financial data providers. | |
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Data Validation Rules Enforces configurable data quality and validation rules during integration. |
Data validation rules can be designed for data imports/integrations. | |
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Batch Processing Capability Handles large volumes of compensation calculations or updates in batch processing mode. |
Batch processing capability for large-scale updates/calculations is a documented capability of the Workday platform. | |
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SFTP/FTPS Support Secure file transfer protocol support for bulk data movement. |
SFTP/FTPS support is available for secure file transfers by Workday Integration Cloud. |
Reporting and Analytics
(11 Yes /11 Known /11 Possible features)
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Custom Dashboard Creation User-configurable dashboards for key compensation metrics. |
Custom dashboard creation is a core analytics feature—Workday users can design personal or role-based dashboards. | |
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Real-time Performance Analytics Instant analytics of carried interest, investments, and bonus accruals. |
Real-time performance analytics are highlighted in Workday documentation, supporting instant calculations and reporting. | |
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Compliance Reporting Pre-built reports to facilitate regulatory or internal compliance checks. |
Compliance reporting is available with pre-built and configurable templates for regulatory and internal needs. | |
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Drill-Down Capability Users can drill down from aggregate data to individual compensation records. |
Drill-down capability is available with Workday Adaptive Insights and analytics suite. | |
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Export to Excel/CSV/PDF Flexible download/export options for reports. |
Export to Excel, CSV, and PDF is standard for analytics and compensation reports. | |
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Scheduled Reporting Ability to automatically schedule and deliver reports. |
Scheduled reporting is supported using automated report delivery. | |
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Custom Calculated Metrics Users may define custom fields and metrics for advanced reporting. |
Custom calculated metrics are available through report and analytics builder tools. | |
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Historical Data Analysis Retention and analysis of compensation history and trends. |
Historical data analysis and retention is built into Workday, supporting trend analysis over multiple years. | |
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Access-Controlled Reporting Restricts reporting visibility based on user role. |
Access-controlled reporting is standard via Workday’s role-based security. | |
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Visualization Tools Built-in charting and graphing capabilities. |
Visualization tools are included in Workday’s report builder and analytics suite. | |
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Complex Waterfall Analysis Detailed simulation and review of distribution waterfalls. |
Complex waterfall analysis is supported as part of VC/PE-specific features and custom calculation logic. |
User and Stakeholder Management
(9 Yes /9 Known /9 Possible features)
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Role-based Access Control Granular permissions based on position, fund, or portfolio. |
Role-based access control is a foundational security model in Workday. | |
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Multi-Stakeholder Handling Manages complex relationships among partners, employees, investors, and advisors. |
Multi-stakeholder handling is built in, with separate roles and structures suited to VC, PE, and asset management organizations. | |
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Self-Service Portals Stakeholders can view their compensation, statements, and documents. |
Self-service portals are a hallmark of Workday for employee, manager, and partner access. | |
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Audit Trail Comprehensive logs of user actions and system changes. |
Audit trail capabilities (logs of all changes/actions) are referenced in Workday’s compliance and user activity tracking. | |
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Delegated Administration Allows for delegated or distributed administration over compensation plans. |
Delegated administration is possible for distributed compensation management across business units or funds. | |
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Bulk User Management Ability to onboard, update, or offboard multiple users at once. |
Bulk user management—adding, updating, and offboarding users—is documented for enterprise-scale clients. | |
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Single Sign-On (SSO) Supports enterprise SSO for streamlined and secure logins. |
Single sign-on (SSO) is supported for enterprise Workday clients. | |
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Group Permissions Permissions and configurations can be set by user groups. |
Group permissions and configurations are supported through security groups and custom roles. | |
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Two-Factor Authentication Adds extra security for user logins and sensitive actions. |
Two-factor authentication is an available feature for securing user login and sensitive actions. |
Security and Compliance
(9 Yes /9 Known /9 Possible features)
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Data Encryption Encrypts all compensation data at rest and in transit. |
Data encryption at rest and in transit is standard per Workday’s cloud security certifications. | |
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SOC 2/ISO 27001 Certification Product and infrastructure adhere to major security standards. |
Workday maintains SOC 2/ISO 27001 certifications, as referenced in trust and compliance documentation. | |
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GDPR/CCPA Tools Built-in controls for privacy regulations like GDPR, CCPA. |
GDPR/CCPA tools and privacy controls are integral to Workday’s platform for international clients. | |
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User Activity Monitoring Continuous monitoring of user activity for suspicious behavior or breaches. |
User activity monitoring is part of Workday security, supporting compliance and breach detection. | |
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Customizable Data Retention Policies Firms can set retention periods as required by regulation or policy. |
Customizable data retention policies are available per client needs (compliance with GDPR, etc.). | |
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Security Incident Alerts Immediate notification of potential security incidents. |
Security incident alerts are part of Workday’s trust and compliance platform. | |
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Role-based Data Masking Sensitive data is masked based on user roles. |
Role-based data masking is supported as a security measure. | |
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Comprehensive Audit Logging All system actions and data changes are logged for audit purposes. |
Comprehensive audit logging of all changes is a documented Workday compliance and transparency feature. | |
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Customizable User Permissions Admins can define custom roles and corresponding privileges. |
Customizable user permissions, roles, and privileges are configurable via Workday’s security administration. |
Calculation Engine Performance
(5 Yes /5 Known /8 Possible features)
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Real-time Calculation Speed Average latency for processing compensation and distribution calculations. |
No information available | |
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Batch Processing Throughput Number of compensation records processed per minute in bulk/batch mode. |
No information available | |
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Scalability System’s ability to handle increases in user and transaction volume without performance degradation. |
Workday is designed for large enterprise scalability and has publicly available references to scaling to large transaction and user volumes. | |
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Error Rate Frequency of calculation errors detected in system output. |
No information available | |
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Auditability of Calculation Full traceable logs for each calculation iteration. |
Full calculation audit logging and traceability is documented for compliance purposes. | |
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Support for Multi-Currency Calculations Ability to process compensation in multiple currencies, with real-time FX rates. |
Multi-currency calculations (including FX rates for compensation) are supported per Workday Internationalization features and documentation. | |
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Parallel Processing Capability Utilizes parallel processing for faster computation at scale. |
Workday supports parallelized processing in its cloud-based architecture for large, complex calculations. | |
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Automated Exception Handling Automatically identifies and resolves calculation exceptions wherever possible. |
Workday features automated exception handling in calculation and workflow processes. |
Audit and Transparency
(6 Yes /6 Known /6 Possible features)
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Full Historical Audit Trail Tracks every change to compensation data and structure. |
Full historical audit trail is integral to Workday design, supporting change tracking, compliance, and audit activities. | |
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Detailed Change Logs Logs specifying what, when, and by whom each change was made. |
Detailed change logs showing user/time/change are part of Workday’s audit and compliance tools. | |
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Read-Only Audit Reports Reports that can be shared externally for compliance or partner review. |
Read-only audit reporting is supported—included as part of compliance and partner access modes. | |
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Access Reports Lists users who have accessed/key compensation records. |
Access reports (user access logs) are provided for key data records. | |
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Anonymized Participant Reports Generates anonymized summaries for stakeholder review. |
Anonymized participant reports can be created as part of Workday’s advanced reporting toolkit. | |
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Time-stamped Workflow Tracking Each step in a compensation decision/workflow is time and user-stamped. |
Time-stamped workflow tracking is supported—approval flows, decisions, and user action stamps are a core part of workflow and audit features. |
Configurability and Customization
(7 Yes /7 Known /7 Possible features)
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Custom Field Support Admins and users can define custom attributes for compensation records. |
Custom fields are supported across compensation modules. | |
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Configurable Approval Workflows Flexible workflow builder for multi-step approvals. |
Configurable multi-step approval workflows are built into Workday’s compensation and HCM processes. | |
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White-labeling Custom branding and client-facing experience. |
White-labeling for custom client branding is available in Workday’s configuration settings. | |
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Localization Support Supports multiple languages and regional data formats. |
Workday supports localization: multilingual UI, locale-based date/number formats. | |
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Role-based Dashboard Customization Dashboards and widgets can be personalized by user/role. |
Role-based dashboard customization is standard in Workday’s dashboard and reporting tools. | |
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Formula Builder for Calculations GUI-driven or scriptable custom calculation logic. |
Formula builder for custom calculation logic is available through Workday’s calculation engine and configuration wizards. | |
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Custom Notifications Define custom triggers and recipients for system alerts. |
Custom notifications can be created for system events. |
Scalability and Deployment Options
(7 Yes /7 Known /7 Possible features)
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Cloud Deployment Product is available as a SaaS/cloud service. |
Workday is a cloud SaaS offering. | |
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On-premises Deployment Supports on-premises installation if preferred. |
Workday also offers on-premises/private cloud deployment for some enterprise/regulated clients. | |
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Multi-Tenant Architecture Supports multiple fund or firm entities in one environment. |
Workday uses a multi-tenant cloud architecture, as described in its technical documentation. | |
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Elastic Resource Scaling Resources scale up or down based on workload automatically. |
Elastic resource scaling is handled natively in Workday’s cloud infrastructure. | |
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Mobile Accessibility Full or partial feature set available on mobile devices. |
Workday mobile app provides access to compensation features (view/approve/track). | |
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Disaster Recovery/Backup Automated backup and disaster recovery features. |
Workday provides disaster recovery and backup SLA as part of its enterprise-grade hosting. | |
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Geo-Redundancy Supports geographically distributed redundancy for high availability. |
Geo-redundancy is present in Workday’s global data center strategy for high availability. |
Support and Vendor Services
(9 Yes /9 Known /9 Possible features)
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24/7 Support Availability Round-the-clock customer support service. |
24/7 customer support and critical incident response available for enterprise customers. | |
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Dedicated Account Manager Assigned account manager for ongoing support and relationship management. |
Dedicated account managers available for enterprise, per support packages on Workday website. | |
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SLAs (Service Level Agreements) Explicit commitments for uptime, response, and resolution times. |
Service Level Agreements (SLAs) for uptime and support are documented for Workday clients. | |
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Comprehensive Onboarding/Training Product-specific onboarding and user training materials/events. |
Comprehensive onboarding, training, and user enablement is provided by Workday University and other resources. | |
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User Community and Forums Online resources for peer learning and support. |
User communities and forums are supported via Workday Community. | |
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Annual Product Roadmap Updates Regular updates on product development and planned enhancements. |
Annual product roadmap updates published on Workday Community and delivered to clients. | |
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Professional Services Team Vendor offers implementation and customization services. |
Workday’s professional services team handles implementation and customization. | |
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Customer Success Analytics Tools for monitoring product usage and satisfaction. |
Customer success analytics (including product usage, training engagement) are available. | |
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In-app Help and Guided Tours Product includes built-in tips, guides, and tutorials. |
In-app help and guided tours are built into Workday, with contextual tutorials. |
Internationalization and Regulatory Support
(7 Yes /7 Known /7 Possible features)
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Multi-Currency Support Product can handle compensation in multiple currencies. |
Multi-currency support is a core feature, as per internationalization documentation. | |
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Country-Specific Tax Calculation Automates calculation and reporting of local tax withholdings and liabilities. |
Country-specific tax calculation, withholding, and reporting is supported for global operations. | |
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Regulatory Compliance Templates Pre-built templates for ICO, AIFMD, SEC, or other local regulations. |
Regulatory compliance templates and localization are available for various jurisdictions. | |
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Local Language Reporting Built-in support for report generation in local languages. |
Local language reporting is supported with Workday language packs. | |
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Cross-border Payment Support Supports compliant compensation payment to global stakeholders. |
Payments to global stakeholders are supported through compliant cross-border payment integration options. | |
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International Date/Number Formats Records and reports can use local standards for numerical and date/time data. |
International date/number formatting is configurable per locality. | |
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Country-specific Document Management Manage country-specific statutory and supporting documents for compensation. |
Country-specific document management (for statutory requirements) can be handled in the document management features. |
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