Posted by Formulate - A Kainos company on 17/06/20 14:27

It's essential for CFO's and finance professionals to keep abreast with the latest technology to meet the modern demands of budgeting, forecasting, reporting, and analytics. We take a look at Workday Adaptive Planning (Adaptive Insights) and explain what it is, and how it can help.

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Workday adaptive planning for finance

Workday Adaptive Planning for finance provides budgeting, forecasting, reporting, and analytics for organisations of all sizes, with industry-leading usability and the security, scalability, and flexibility required for complex planning. 

Recognising that the best plans involve the people closest to the day-to-day business, Workday built a powerful planning technology platform so you and your colleagues can gain deep insights, make more timely decisions, and manage more efficiently with solid, integrated plans. Workday Adaptive Planning enables complex financial models without the burden of managing legacy on-premise systems or massive spreadsheets and saves finance teams the mind-numbing, error-prone task of manually consolidating data.

Workday Adaptive Planning makes it easy to manage, report, and analyse business performance. And Elastic Hypercube Technology gives you the flexibility to scale without sacrificing ease of use.

 

Use the business planning cloud to enable an active planning process for FP&A and the business

Industry-Leading Usability

In business, everybody plans. In large corporations, planning processes span a range of finance and operations teams as well as users from a complex ecosystem of departments, business units (BUs), regions, and countries.

Workday Adaptive Planning broadens planning with industry-leading ease of use that accelerates adoption and drives engagement across finance teams, operations, and business units. By engaging finance and non-finance users in a collaborative, active planning process, you can create plans aligned with your organisational goals, ultimately delivering better and more timely decisions.

Built for Business

Many systems take a long time to deploy. Once deployed, changes to structures, reports, and analysis typically require dedicated IT resources to support business users’ needs, limiting agility and consuming IT resources. With Workday Adaptive Planning, finance and operations teams control their models, processes, dashboards, and reporting with the drag-and-drop functionality that doesn’t require coding or scripting—or much support from IT.

Adapts to Change

Businesses need the flexibility to adapt quickly to change, but traditional planning systems aren’t that agile. Workday Adaptive Planning is designed for flexible modelling of functional planning and easy scenario planning so models and plans can continuously evolve as markets and the business change. Now companies can bring together workforce planning, operations planning, project based planning, and financial planning all within a single active environment.

Faster Time to Value

Using the intuitive drag-and-drop modelling and reporting interface in Workday Adaptive Planning, organisations can implement their new planning environment quickly and achieve value sooner. Most enterprise-scale customers deploy their first phase within six months. These rapid deployment cycles reduce project risk and free teams to develop more sophisticated models. Our approach includes end-user validation along the way so that user acceptance testing (UAT) is a non-event.

Trusted, Scalable Technology Platform

Workday Adaptive Planning is an in-memory computing technology platform designed for multidimensional modelling, reporting, and analysis. Supercharged with the patent-pending Elastic Hypercube Technology, it enables granular and complex planning and reporting by any number of critical business dimensions (customer, channel, product, regions, and more), and by day, week, or other time period. The technology platform also enables unlimited what-if analyses to assess the opportunities and impact of potential changes to the business.

Elastic Hypercube Technology enables companies to manage large, data intensive models without compromise using:

  • Extremely large-scale models with quintillions (1018) of cells
  • Unlimited dimensions and unlimited dimension values
  • Unlimited planning scenarios
  • Rapid analysis, comparison, and reporting without cumbersome setup or additional cubes

Federated Planning Domains

From corporate finance to operating departments and business units, Workday Adaptive Planning enables groups to plan their own domains. Individual plans come together into a holistic, fully linked corporate plan. What’s more, each planning domain can have its own comprehensive model based on the planning cadence of its part of the business. This architecture of federated planning domains mirrors the organisational structure of complex enterprises, aligning with how organisations manage data access and control. Federated planning domains enable corporate finance to orchestrate planning and performance at the local and corporate level. This empowers departments and business units to model, plan, and report at levels specific to their needs.

Open Technology Platform for All Your Data

As you plan across your organisation, you need data from all your transactional and operational systems. Workday Adaptive Planning is system-agnostic, seamlessly integrating with ERP, CRM, HCM, and BI systems so planners not only see key business metrics to understand how they got here and why, but also use this past performance to drive plans and forecasts for where they’re going.

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About Formulate

Formulate - A Kainos company are one of the leading UK and European partners for Workday Adaptive Planning (Adaptive Insights). We build and improve forecasting solutions for existing and new users of Workday Adaptive Plannings. Our unique set of business pack solutions, alongside our extensive skills in finance, business and software deliver leading forecasting solutions.


Tags: Blog, Adaptive Insights