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Date Posted
14 May 2021

"Workday Adaptive Planning has made us more dynamic."

Paul Hughes
Senior Business Finance Partner
Richmond Fellowship

A Dynamic, Time-Saving Forecasting and Budgeting Solution for Richmond Fellowship

Richmond Fellowship is a national mental health charity. For the past 60 years, they’ve worked with individuals, families and communities to make recovery a reality.

They work hand-in-hand with people they support, giving them the confidence and self-belief that they have an important contribution to make in society.

With a need for greater flexibility and agility within their forecasting and budgeting, Richmond Fellowship needed a proven Workday Adaptive Planning partner.

The Challenges

Richmond Fellowship first went live with Workday Financials in January 2019. The plan was to implement Adaptive and use the tools and features for the 2020/2021 budget. 

During this time, Workday bought Adaptive, an enterprise planning piece of software built to upgrade an organisation’s financial planning, modelling, forecasting and budgeting.

The budget was already in place in their existing budgeting software, so Richmond Fellowship set up Workday Adaptive Planning to hold this information and upload it into the Workday system. 

However, Richmond Fellowship knew they were only scratching the surface with Workday Adaptive Planning software. 

In preparation for the 2021/2022 financial budget, the charity wanted the budgeting process to be more dynamic, opening the system to budget holders. It’s at this point Richmond Fellowship called upon Formulate for their knowledge and experience as a leading Workday Adaptive Planning partner. 

"It's been great. We built a dashboard that all budget holders can access in the same way. The security set-up was straightforward, allowing us to upskill the business and complete the budgeting process in record time."

Paul Hughes
Senior Business Finance Partner
Richmond Fellowship

How Formulate Helped

In 2020, the Senior Business Finance Partner at Richmond Fellowship, Paul Hughes, began working with Formulate to ensure the charity got the most out of Workday Adaptive Planning. 

Paul and his team met with Formulate in September and dropped their first budget on 1 November, leaving no margin for error. 

Richmond Fellowship wanted to work with a Workday Adaptive Planning partner that had seen everything before and had a track record in dealing with similar organisations.  

Paul had seen the impressive capabilities of Workday’s latest offering. The real challenge was putting these things into practice.

With little time to spare, Formulate worked with Paul and the team to bring them up to speed. The lead consultant from Formulate, Richard Morgan, demonstrated what they had done for other clients and how he could see it working for Richmond Fellowship. 

Within just over a month, the new financial system was live.  

Since launch, the feedback from the business and the group leadership team has been fantastic. They like the format and how quickly you can get the information, make changes, and track alterations with the version control feature. 

Richmond Fellowship has also saved a substantial amount of time since working with Formulate. 

Previously, Richmond Fellowship would start the budgeting process with operations on 1 October every year and squeeze a year of planning into a two-week window.

Now Richmond Fellowship has all their data in Workday Adaptive Planning, they are working towards quarterly forecasting. With only a few light touches required every three months, Richmond Fellowship can save two weeks of work year in, year out. This outcome equates to hundreds of hours across the business. 

The plan is to use Workday Adaptive Planning to hold the information to generate bids for retenders or new business. They also plan to get their staffing more dynamic to model different scenarios. Formulate will be there to support them every step of the way. 


"We can move to forecasting each quarter rather than doing it once a year which is a significant effort. Quarterly forecasting will now form our budget. It's a lot easier for everyone across the whole organisation. A budget is out of date as soon as you set it with everything constantly changing. It is not that different from the end of March to the start of April, so if you can get that going round and adapting as you go, it is so much easier."

Paul Hughes
Senior Business Finance Partner
Richmond Fellowship

The Benefits & Outcomes

  • Enhanced reporting with Workday Adaptive Planning and Workday Financial Management.
  • Seamlessly linking to Office Connect.
  • Forecasting only requires a light touch every quarter. 
  • Time savings of two weeks to create a budget for finance and operations. 
  • Hours saved across the whole organisation.

If you’d like to utilise the power of Workday Adaptive Planning and tap into Formulate’s vast experience as a leading partner, get in touch. We combine the disruptive power of technology with the knowledge of our team to bring you smarter forecasting and budgeting solutions.

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