What is the difference between Process Builder and Workflow?

Hi Suraj

In short, you can do everything you can do with workflows using process builder as well, except for sending outbound messages with point&click. With process builder, you can also update all child records starting from the parent record, which is not possible with workflows (only vice versa is possible using cross object field updates). I've heard rumors that process builder will replace workflows in the future, which seems a logical step to take for sfdc.

Hope it may help you:

Workflow enables you to set up workflow rules. A workflow rule identifies what kinds of record changes or additions trigger specified workflow actions, such as sending email alerts and updating record fields.

Workflow rules and actions are associated with a specific object (and can cross objects only to update fields on a related master record).

Visual Workflow:

Visual Workflow enables you to create flows, which are triggered by users rather than events. Unlike Workflow, which always executes rules and actions behind the scenes, Visual Workflow offers screens for displaying and collecting information from the user running the flow.

Flows aren’t tied to any one object. They can look up, create, update, and delete records for multiple objects.

Process Builder:

The Process Builder’s simple and powerful design allows you to:Create your processes using a convenient layout with point-and-click efficiency.
Create your whole process in one place rather than using multiple workflow rules.
Create processes by collaborating with different teams in your business.
Stop using Apex code to automate simple tasks.

Hope this helps you

Thanks