Workspaces comprise apps, which pertain to the same application area, and are located in the left menu. They are intended for specific activities of a company, such as personnel management, finance, records management, and so on.
A Finance workspace can include such apps as «Invoice» and «Cash Request». A Document Management workspace can consist of these apps: «Contract», «Memo», «Administrative Note», and «Acceptance Certificate».
With the Configure Workspaces option, you can change the order of Workspaces in the left menu.
To learn more about workspaces, read these articles: