Workday Adaptive Planning is a cloud-based financial planning and analysis solution. It enables complex financial models without the burden of managing legacy on-premise systems or massive spreadsheets. It saves finance teams the mind-numbing, error-prone task of manually consolidating data. More than 2,600 companies in 85 countries use Adaptive Planning. These range from mid-sized companies and non-profits to large corporations, including AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Siemens.
In Adaptive numbers can be stored using up to 9 decimal places. Use the Trunc or Round Functions to ensure accuracy of the data.
Workday Adaptive Planning make better decisions faster with flexible and easy-to-use enterprise planning software. It easily connects with any ERP/GL or other data sources.It includes
a) Financial Planning: Flexible budgeting, scenario planning, and reporting let us plan continuously for what’s next and respond to changes with agility.
b) Workforce Planning- It is the systematic process for identifying and addressing the gaps between the workforce of today and the human capital needs of tomorrow. Plan for the skills you need today and tomorrow by department, cost center, level, location, and more.
c) Sales Planning- Dynamically plan sales resources, set quotas, and optimize rep capacity—all while keeping your eye on the bottom line.
d) Operational Planning- Enable company-wide planning in concert with finance and drive better collaboration across departments and functions.
You and other users at your company access your model from a computer or mobile device using a standard web browser. Regular backups, hardware redundancy, and industry-leading data access control keep your data safe and secure.
Multidimensional Benefits
- Use your HCM and Financials data in your Adaptive Planning financial, headcount, and workforce plan versions.
- Publish approved Adaptive Planning financial, headcount, or workforce plan versions and make them available to Workday Core.
- Use Financials to budget check transactions against your published financial plans.
- Create positions in HCM using your published headcount and workforce plan versions.
- Reconcile financial transactions or actions in HCM with your published financial, headcount, or workforce plan versions so that you can compare your plan to actuals.
Primary Business Advantages
- OfficeConnect is a big time saver as it allows for instant access to data for operations and drives greater analysis.
- Ability to model and budget off KPI’s and build department specific budgets.
- Ability to model multiple scenarios with relative ease. The ability to change an assumption enables quick analysis of multiple scenarios
Besides being a numerous advantages, there is scope of improvement for upcoming new releases like in case of big volume of user sheets, the ability to place models in folders based on purpose or function does not exist.
There are other alternatives also available in the market for such kind of analytics what we do in Workday Adaptive Planning like Oracle and IBM analytics. Hence, continuous updation and addition of new features become necessary to survive.
Source: Workday and Community