What users are saying about

Anaplan

Top Rated
205 Ratings

Anaplan

Top Rated
205 Ratings
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Score 8.3 out of 101

Workday Financial Management

20 Ratings
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Score 8.2 out of 101

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Likelihood to Recommend

Anaplan

Sales performance management, various finance scenarios - Anaplan is good for automating calculations. It is less appropriate for very complex business cases.
Szilvia Havasreti profile photo

Workday Financial Management

It was suited for our brand new operation; we 'opened the box' and implemented it from scratch and did not have to sunset older systems and replace with Workday Financial Management. This was well-suited for this. The cloud functionality was a core requirement for the organization, we did not need a Cadillac with all of the trimmings, we moved relatively quickly and installed.
No photo available

Feature Rating Comparison

Budgeting, Planning, and Forecasting

Anaplan
7.4
Workday Financial Management
Long-term financial planning
Anaplan
7.4
Workday Financial Management
Financial budgeting
Anaplan
8.1
Workday Financial Management
Forecasting
Anaplan
7.7
Workday Financial Management
Scenario modeling
Anaplan
6.5
Workday Financial Management
Management reporting
Anaplan
7.6
Workday Financial Management

Consolidation and Close

Anaplan
6.5
Workday Financial Management
Financial data consolidation
Anaplan
7.7
Workday Financial Management
Journal entries and reports
Anaplan
6.6
Workday Financial Management
Multi-currency management
Anaplan
6.2
Workday Financial Management
Intercompany Eliminations
Anaplan
5.9
Workday Financial Management
Minority Ownership
Anaplan
6.0
Workday Financial Management
Local and consolidated reporting
Anaplan
7.1
Workday Financial Management
Detailed Audit Trails
Anaplan
6.1
Workday Financial Management

FInancial Reporting and Compliance

Anaplan
7.6
Workday Financial Management
Financial Statement Reporting
Anaplan
7.0
Workday Financial Management
Management Reporting
Anaplan
8.3
Workday Financial Management
Excel-based Reporting
Anaplan
6.9
Workday Financial Management
Automated board and financial reporting
Anaplan
8.0
Workday Financial Management

Analytics

Anaplan
6.7
Workday Financial Management
Personalized dashboards
Anaplan
5.3
Workday Financial Management
Color-coded scorecards
Anaplan
6.0
Workday Financial Management
KPIs
Anaplan
7.0
Workday Financial Management
Cost and profitability analysis
Anaplan
7.0
Workday Financial Management
Key Performance Indicator setting
Anaplan
7.4
Workday Financial Management
Benchmarking with external data
Anaplan
7.2
Workday Financial Management

Integration

Anaplan
8.3
Workday Financial Management
Flat file integration
Anaplan
8.3
Workday Financial Management
Excel data integration
Anaplan
8.3
Workday Financial Management
Direct links to 3rd-party data sources
Anaplan
8.2
Workday Financial Management

Payroll Management

Anaplan
Workday Financial Management
7.0
Pay calculation
Anaplan
Workday Financial Management
7.0
Benefit plan administration
Anaplan
Workday Financial Management
7.0
Direct deposit files
Anaplan
Workday Financial Management
7.0
Salary revision and increment management
Anaplan
Workday Financial Management
7.0
Reimbursement management
Anaplan
Workday Financial Management
7.0

Customization

Anaplan
Workday Financial Management
8.0
API for custom integration
Anaplan
Workday Financial Management
8.0
Plug-ins
Anaplan
Workday Financial Management
8.0

Security

Anaplan
Workday Financial Management
9.0
Single sign-on capability
Anaplan
Workday Financial Management
9.0
Role-based user permissions
Anaplan
Workday Financial Management
9.0

Reporting & Analytics

Anaplan
Workday Financial Management
7.4
Dashboards
Anaplan
Workday Financial Management
7.0
Standard reports
Anaplan
Workday Financial Management
8.0
Custom reports
Anaplan
Workday Financial Management
7.2

General Ledger and Configurable Accounting

Anaplan
Workday Financial Management
7.9
Accounts payable
Anaplan
Workday Financial Management
8.0
Accounts receivable
Anaplan
Workday Financial Management
8.0
Expense management
Anaplan
Workday Financial Management
8.0
Global Financial Support
Anaplan
Workday Financial Management
7.0
Primary and Secondary Ledgers
Anaplan
Workday Financial Management
8.0
Intercompany Accounting
Anaplan
Workday Financial Management
8.0
Localizations
Anaplan
Workday Financial Management
8.0
Journals and Reconciliations
Anaplan
Workday Financial Management
8.0
Configurable Accounting
Anaplan
Workday Financial Management
8.0
Centralized Rules Framework
Anaplan
Workday Financial Management
8.0
Standardized Processes
Anaplan
Workday Financial Management
8.0

Pros

  • Anaplan allows data to be viewed and manipulated across multiple dimensions. Once you have the data in the system users can build virtually any model they want to evaluate and analyze.
  • With Anaplan our data is centralized and stable. We replaced a number of spreadsheets which resided on individual's laptops and were constantly emailed back and forth. Time spent validating and manipulating data has been drastically reduced - not to mention the errors that always exist in a spreadsheet.
  • Anaplan has allowed us to simplify our use of multiple hierarchies. Primary issues before Anaplan involved reconciling inputs and outputs that existed at different levels of a hierarchy and sometimes across different dimensions. In Anaplan once the relationship is mapped everything happens seamlessly.
  • In our case Anaplan and our use does not rely on our IT organization. Superusers build the models and dashboards for regular users and all of the tool and the data reside in the cloud. Data is always accessible and as real time as you can feed to the system. Changes are instantaneous.
Brent Orr profile photo
  • We specically wanted a cloud financial management system that we could use in China and communicate reports to the headquarters organization and roll-up reporting. It performs well.
  • It was reasonably priced since we are not a for-profit company and need the Workday flexibility for finance and accounting operations. Most of our requirements are met with this one system.
  • The system worked efficiently with the additional security we built on to keep confidential. Many reports are ready off-the-shelf or easy to develop, which is a strength.
No photo available

Cons

  • Graphical feature: Anaplan should explore more graphical features. In my case, I have to export my data to MS Visio to get an org chart. The conditional formatting options are still very limited right now.
  • Formula for List Properties: It's only allowed to key in the formulas for these list properties. I'm not sure about the design philosophy. But I wish it could be similar to the formulas in modules to avoid mistakes.
  • Training Documentation Version Control: Training documentations have some many mistakes. It seems no version control at all. Since using Anaplan requires to set up time properly, the training documentations need to be updated. Before you publish any document, can you let one of your employees (who are not authors of the documentation) to follow the documentation to see if he can complete tasks based on the directions on the documentation? All the modeler in my company had hard time to teach ourselves by using the documentation so none of us was able to complete the intermediate training.
Yang Liu profile photo
  • We were surprised by the lack of user guides and supporting information for day-to-day users. Granted, we could find this, but our users like guides.
  • The system could improve with contact help and chat functions if you need the answers quickly. We figured this would all have been built in.
  • Quite surprised by the lack of treasury management functionality. SAP and Oracle have it, although their modules are not that comprehensive or user friendly.
No photo available

Likelihood to Renew

Anaplan8.2
Based on 3 answers
We rely on it heavily. The only way we wouldn't renew is if the price got significantly higher.
Maggie Palumbo profile photo
No score
No answers yet
No answers on this topic

Usability

Anaplan8.2
Based on 2 answers
There is a dependency in this rating - in that I find Anaplan extremely easy to use, but I've spent the necessary time developing a strong understanding of the platform. Once you understand how to use it, the platform is flexible, easy to use, and fun to use.
Chris Friederich profile photo
No score
No answers yet
No answers on this topic

Reliability and Availability

Anaplan10.0
Based on 1 answer
In nearly 3 years, I have only had 1 issue of being unable to access my model for an unplanned maintenance. Even planned maintenance windows are handled during low traffic hours on the weekend.
Joe Bradbury profile photo
No score
No answers yet
No answers on this topic

Performance

Anaplan9.0
Based on 1 answer
Everything is calculated in memory in the cloud. It's nearly instantaneous updates when you make changes. The only time things get a little slow is when you have a massive model with very intricate calculations...but "slow" for Anaplan is not what I would call "slow" for something like Hyperion. We used to have Hyperion calcs that ran for 60 mins before you could use data. The equivalent would be 60 seconds in Anaplan.
Joe Bradbury profile photo
No score
No answers yet
No answers on this topic

Support

Anaplan8.0
Based on 2 answers
I feel like the support team is a little lacking in product knowledge. Several times I have contacted them to get help, and ended up finding a solution to my own problem before the team could get back to me with anything useful. I have also submitted a few bugs, and never got updates to when they were fixed in later releases.
Joe Bradbury profile photo
No score
No answers yet
No answers on this topic

In-Person Training

Anaplan3.0
Based on 1 answer
The in-person training is simply not worth the cost. After a few weeks of playing in Anaplan, I went to the basic training and knew more than the person teaching it. a year down the road, I was the first person to complete the advance training, and again could have been teaching the class better than the person running the session. Spend some time on your own trying out different things and you will get all the understanding you need to be successful.
Joe Bradbury profile photo
No score
No answers yet
No answers on this topic

Online Training

Anaplan5.0
Based on 1 answer
I'm giving this a 5 simply for the anapedia outline of calculations. The online videos and trainings leave a lot to be desired, but having anapedia around to help you understand calculations has been helpful. The drawback to anapedia is the depth they go into for calculations, it is lackluster at times. Because of that, I have been working through a much more in-depth look at each calculation on my website for users to reference: http://www.anaplanguru.com/formulas/
Joe Bradbury profile photo
No score
No answers yet
No answers on this topic

Implementation

Anaplan6.8
Based on 12 answers
I won't rate this low due to the 3rd party consultant, because overall the implementation with Anaplan went great. We had working models in our first month of having Anaplan, and have been able to branch out into multiple facets of the business in the 3 years since our first implementation.
Joe Bradbury profile photo
No score
No answers yet
No answers on this topic

Alternatives Considered

Our sense was that Anaplan provided technology that was well beyond our requirements but still gave us independence from our IT department.
Dan Ossmann profile photo
Stacking up it was a faster and more inexpensive implementation. Granted it was still early in the system development years, but the results and the five years of using it speak for themselves. Cloud we wanted, comprehensive financials was a core functional requirement and this was met - it would have taken much longer to implement Workday's competitor systems and we did not have that flexibility. Adding new functionality was relatively painless.
No photo available

Lines of Business and Business Impact

Anaplan has streamlined some planning processes where multiple people manage expenses across multiple departments. the biggest impact has been in the area of scenario or version or special reorganization type planning. Management has to decide how to group products and wants to see maybe 10 different approaches. we put the pertinent modules in a separate model, give them 10 versions and let them demand to see what ever they want to see.
Dan Ossmann profile photo
No answers on this topic

Selection Process

Adaptive and Host Analytics
More flexible and able to handle more data.
Tommy Bettles profile photo
No answers on this topic

Scalability

Anaplan7.0
Based on 1 answer
It's going to handle most of what you can throw at it. The problem lies in the sparsity of some datasets. When you have over 5ish dimensions of sparse data, the size of the model gets bloated for not much value. In several cases, I have had to adapt my model to account for sparsity in a way that minimized use of space, but also made interacting with the data more cumbersome.
Joe Bradbury profile photo
No score
No answers yet
No answers on this topic

Return on Investment

  • I'm sure the impact is positive. We have streamlined many processes and created capacity for our finance team.
  • It's great to have "one source of truth" and know that everyone is looking at the same metrics.
Kelley Haghighi profile photo
  • As a new starup affiliate five years ago, we did not have a huge budget. The ROI was met relatively quickly, no surprises here.
  • With minimal consulting assistance, this made the implementation cost reasonable, if any software implementation could be considered reasonable.
  • It was a risk to implement Workday Financial Management in one country but we did leverage it with HCM in the states.
No photo available

Pricing Details

Anaplan

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
Optional
Additional Pricing Details
Request a personal demo: https://www.anaplan.com/request-demo/ Free trial for existing customers for any app in the App Hub: https://apphub.anaplan.com/

Workday Financial Management

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
Additional Pricing Details