Dashboarding capabilities (UI more straightforward & intuitive; More freedom in formatting/mass updates)
Reporting Capabilities (UI more straightforward & intuitive; More freedom in formatting/mass updates)
Integrations with other systems (WSS)
More straightforward guidance when integrations fail
Details behind confidence metrics in predictive forecaster
Likelihood to Recommend
It's a good starter system for any org that's coming out of a manual environment. The base capabilities are good but there's still much improvement on both basic & advance functionality needed
VU
Verified User
Team Lead in Finance and Accounting (Accounting company, 11-50 employees)
We use Adaptive Planning for income statements, balance sheets, and cash flow forecasting. Adaptive planning has been highly beneficial for our organization because it has allowed us to adopt ongoing planning (currently working towards monthly off-cycle planning from quarterly on-cycle planning). We have also been working towards streamlining our manual planning inputs to driver-based inputs that allow our planners to focus on the key drivers rather than the overall dollar figures. We recommend Adaptive planning to anyone looking to take the next step in their financial planning journey.
Pros
On-Going Planning Cycles.
Flexibility
Customization
Linkage to Workday Financials.
Cons
Audit Trails.
Ease of tracking linkage between planning sheets.
Making formula building more user friendly.
Making integration design and querying more user friendly.
Likelihood to Recommend
Income statement planning using basic financial metrics and drivers. It is not as appropriate for non-traditional financial planning metrics.
Workday Adaptive Planning is used to plan and maintain financial forecasts and spending during ongoing R&D projects. It is kept up to date with budget allocations, forecast changes, and most immortally it helps us to smartly track remaining budget to make sure we are within our allocation. Once the project is finalised, it is also used to track revenue generation.
Pros
Financial analysis
User friendliness
User interface
Cons
More instructional demos on different utilities
More flexibility on custom set ups
Info button to understand what some statically tools depict
Likelihood to Recommend
We found it very good for budget tracking, assigning budget and making sure we are within it. It works less well when you have multiple requirements within the same budget i.e. budget allocation management and new revenue incoming from a project in addition to revenue forecasting, these things should mesh together a bit better.
VU
Verified User
Employee in Research & Development (Research company, 1001-5000 employees)
We were capable to onboard departmental budgets accessible to users on the cloud instead of using the excel sheets. We able to extend our vision and helped the account managers to keep them updated, save time and use the budget with less manual efforts. It also helped to manage the spending and project the budget.
Pros
It is very powerful while someone would like to work on multiple sheets together.
We can also integrate or we can say copy the data from external excel sheets which makes life easy.
It is also very helpful for planning without affecting the organizational budget for every department. It is very easy to use and manage.
Cons
There are some limitations of this tool as well and personally I didn't like the way it restrict us to change the sheet frequently, it can be lead to wrong calculations for monthly or quarterly planning.
This is also not much flexible, it should have integration mechanism to connect with other tools and data accessibility too.
Sometimes we also faced the slowness issue while performing complex task. This can be improved.
Likelihood to Recommend
This is very easy to setup for new members, also very easy to understand and powerful to generate reports based on this we can recommend it. Performance and limitations sometimes creates problem and can lead us to wait for few times.
Workday is a wonderful product that is very intuitive for the end user and for core HCM. Adaptive, Workforce Planning, Recruiting is where Workday falls down. What it does, and it does it well, is truly capacity planning, top-down, and not true Strategic Workforce Planning as described by the ISO standard or those organizations who excel at it. It can be modified to do those things with the use of a data lake and additional fulfillment modeling code. However, it still would struggle to fully integrate procurement (contingent labor and SOW labor), Industry X.O, Future Workforce, and external econometric data into the models.
Pros
Capacity Planning.
Financial Forecasting.
Cons
Strategic Workforce Planning.
Future Workforce.
Fulfillment Modelling.
Likelihood to Recommend
As previously stated, it is best suited for annual capacity planning and short-term transactional workforce planning.
VU
Verified User
Professional (Information Technology & Services company, 10,001+ employees)
I currently work as an implementer of Workday Adaptive Planning for our clients. I see Workday Adaptive Planning being used by teams in order to improve their budgeting and planning processes. Many of my clients come from an Excel format for their planning process but are implementing Workday Adaptive Planning to automate many of the manual processes that currently have to happen in their Excel modeling. Adaptive is also used for its robust reporting abilities! Many clients that we work with are using Workday as their ERP so they connect the two systems through the Power of One to get real-time actuals data from the ERP into Workday Adaptive Planning.
Pros
Robust budgeting and planning sheets that allow for customizable modeling depending on the needs and area of the business
Web reporting out of Workday Adaptive Planning is great and is very user friendly
Integrations into different ERP systems, especially Workday
Cons
The Integration between Workday Adaptive Planning and NetSuite is difficult to get up and running. It functions well but is more complicated to set up than other ERPs.
Creation of sheets and normal maintenance is easy to use but can be a very complex process for those unfamiliar with how Workday Adaptive Planning works. Training is a must!
Lacking functionality in automating the multi-currency conversion process
Likelihood to Recommend
Businesses that are in a pre-IPO or IPO stage. Workday Adaptive Planning is a great add on for any team that is already using Workday Financials or Workday HCM. Teams that have a complex planning process that is very manual in Excel are great candidates for Workday Adaptive Planning.
VU
Verified User
Consultant in Information Technology (Management Consulting company, 201-500 employees)
We had Workday Adaptive Planning due to the problems we were having with the company's financial performance, which evoked the manual planning management that we had been doing, which was less effective and more costly.
Pros
Ability to create customizable reports based on employee requirements.
Simple and ergonomic interface that allows easy location of each tool, all in a single view.
Each employee can get their expense summary and based on this do better resource planning.
Real-time cost and expense planning.
Ability to break down all monetary movements generated in the company.
Allows us to create cost scenarios where we can identify factors that may affect us in the future.
Cons
It is not possible to copy items between tabs, causing obstacles in the work.
Reports should be more complete and customizable.
It is complicated to import spreadsheet files without having to make modifications beforehand.
Likelihood to Recommend
Workday Adaptive Planning distributes the resources of medium and large companies so that they can be more usable. It is based on business planning through data analysis to help people expand their knowledge and sharpen the effectiveness of scheduled tasks.
VU
Verified User
Manager in Marketing (Marketing & Advertising company, 201-500 employees)
Workday Adaptive Planning is used across our entire organization. Department heads and brand presidents have access to track their financial data. In addition, we use Workday Adaptive Planning to create our budgets. Our marketing department uses the system to track their forecast.
Pros
Ease of use
User friendly
Financial modeling
Budgeting
Cons
System updates completed during budget season. This causes issues every year for us.
The system does not handle multiple exchange rates very well. This causes issues for the equity section of our balance sheet.
Likelihood to Recommend
Workday Adaptive Planning is well suited for budget planning. This is one of our favorite uses for the system besides our monthly financial tracking.
Workday Adaptive Planning was implemented for our organization 3 years back, and we support this now to help user adapt new upgrade and enhancement and much more. I worked and implemented many other planning systems for other client but I would say Workday planning is to implement if you have good knowledge on Adaptive and F,P & A process, its really helpful, easy, cost effective, and save lot of time.
Pros
I like the flexibility to create different sheets
I like the flexibility to create different dashboards
I like the flexibility to create reports
You can connect any system using integration
Easy to adapt and learn
cost effective
More you can focus on process then tool
Cons
I am completely satisfied that this tool can be used with either the smallest or largest organizations (yes, it's that good). as I worked on many other tool
the tree structure makes it very difficult to scroll through report
integrations between other system need to be streamline
Likelihood to Recommend
Customisation of web pages and products - the Robust option enables us to manage many iterations, which we can then compare across multiple platforms with an ability to grow and differentiate, resulting in an expanded feature set of future scenarios.
Computer processing speed - With the Elastic Hypercube technology that was implemented a few years back, we can watch changes flow through a complex web of formulas and arrive at an answer within seconds.
continuous audit trail - One of the primary advantages of using Change Tracker is the real accountability that is displayed when seeing who has modified which files, which allows for an easy internal controls and auditing.
[Workday Adaptive Planning is used] as the primary tool for budgeting and forecasting for the Finance department. Also used to track KPIs across the organization. All comparisons vs a budget are done with Adaptive.
Reporting is done using the office connect tool in both Excel and PowerPoint. Reporting is done from the board level to the individual department level.
Pros
Organizes a large amount of data in a very accessible way.
Easy to change or modify formulas
Easy to learn and implement.
Cons
Formatting and display options for dashboards are limited.
Scenario planning is hard to carry from one version to the next.
Reporting has limited formatting options.
Likelihood to Recommend
Workday Adaptive Planning is extremely well suited to the typical finance budget, forecast, actual reporting cycle and makes it easy to do every monthly forecast at the same level of detail as an annual plan. It takes a lot of pain out of the reconciliation of headcount variances and that type of thing.
