Budgyt is a dynamic FP&A platform that simplifies budgeting, forecasting, and reporting. It offers a single source of truth for CFOs and finance teams to integrate financials, streamline processes, and manage multiple departments.
$5,988
per year (up to 10 departments)
Workday Adaptive Planning
Score 7.8 out of 10
Mid-Size Companies (51-1,000 employees)
Workday Adaptive Planning streamlines planning workflows, using AI and real-time data integration to improve collaboration and provide predictive forecasts for better strategic analysis.
N/A
Pricing
Budgyt
Workday Adaptive Planning
Editions & Modules
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No answers on this topic
Offerings
Pricing Offerings
Budgyt
Workday Adaptive Planning
Free Trial
Yes
Yes
Free/Freemium Version
No
No
Premium Consulting/Integration Services
Yes
Yes
Entry-level Setup Fee
Required
Optional
Additional Details
Contact for pricing quote. Multi-year and non-profit discounts are available.
Adaptive Planning is more complex and considerably more expensive than Budgyt. Budgyt does a nice job of meeting the sweet spot of being very capable without being onerous.
Budgyt is great for instant consolidation of a multi-department and multi-entity organization. It has strong hierarchy and roll-ups at various levels. User setup and security is straightforward, with ability to restrict data to only department heads over a project. Excellent capability in salary and benefit calculation, for instance down to each type of state and federal tax, and each type of employee health benefit with individual cost as specific as necessary. Strong export functionality.
We're a mid-size organization working with a shoestring budget and an IT skeleton crew...not much room to dedicate resources to a platform like this fully. Having it SaaS based is helpful for system management through their Helpdesk system, and a single platform also helps streamline the knowledge needed by our developers when integrating other business aspects to Workday.
budgeting: building annual budgets from the ground-up
financial reporting: Budgyt includes a number of great options for navigating financial reports
analysis (& reporting): the ease and flexibility of configuring and using data tools allow for detailed analysis, and numerous options for accessing data to enable effective analysis and reporting views
It helps create dynamic plans for finances, operations and various functional units in an organization all under one platform
It helps in scenario modeling to help analyze various business events and report by any number of business dimensions including channel, customer or product
It can be integrated with any system including ERP, BI or CRM
The ability to remove %'s entirely from reports, instead of only partially removing %'s from a report.
The formulas C2C and FOAs can be confusing to set up. I think more explanative data ---- hovering over question marks alongside cells you must complete as a suggestion --- in this module would be useful. These formulas work great once you trial & error your way into them operating. But we find their initial set-up a time commitment. We don't want to watch how-to videos each time we set them up. The hover/clarifications of what certain cells mean would be very helpful.
Dashboards are not the best for graphs/charts. However, I have heard of companies using the dashboards for forecasting/budgeting. I would like to see Workday Adaptive Planning demonstrate this part of the feature.
Better security or locks to prevent deleting Actuals data - you are literally one click away from doing this.
On the web-based reports, better functionality when needing to reverse the sign in calculations - right now it is only available for revenue vs. expenses.
It is awesome, will never go back to the spreadsheet. Just paid for our second year. It does everything we need. Slick interface for data entry, easy to use and run reports with a few clicks to get what you want. great data comparison, flexible to be able to see monthly totals from prior year or other scenario when entering in the data sheet
For one we're in way too deep to not move forward with Adaptive. We're integrated with Workday, we do a ton of reporting with Adaptive, and it's working very well for planning and forecasting. No reason to look back or change course.
We have not encountered any issues with Budgyt’s limitations, given the number of departments and the volume of data we pass to the tool. I have no reason to give it anything less than a 10; the only limitation so far is that we don’t have full API integration yet. Once that is finalized, we will be seamlessly integrated across all of our financial platforms and tools.
It is overwhelming at first, but once you really get to know it, you realize it is fairly simple and customizable, and then it has a lot more limitations than you first thought. Realizing those limitations and finding workarounds is when you know you've mastered the software.
There haven't been any lately. The only one issue I can think of is when there was an update in Adaptive that altered our reports. Before I realized there was an issue, Adaptive reached out to let me know, so that it could be fixed.
All aspects of Adaptive Insights perform well. One area that I wish was quicker was integration. When importing data from Intacct our accounting ERP platform, it can sometimes take 4 hours for the import to process. The earlier imports are done, the quicker they complete. My estimate for a quick upload is about two hours.
During my first year of working within the budget software, I had to go through some training while trying to meet deadlines for meetings. The team at Budgyt was very accommodating and made sure I was equipped with the knowledge that I needed to be successful
Whenever we have had any questions, issues, or concerns, the support has been quick and thorough. [This] allow[s] us to be able to fully resolve any issues, or be connected with the right group quickly to attain the result we were after; be it from simple formatting to adding new detailed reporting.
This was extremely helpful so that they could walk you through the model and teach you more about the complexity of various areas. It is most helpful when it is specific to your organization's model. The larger in-person trainings were helpful but they tended to be more generic and entry level. The trainings that are more tailored to your specific needs are the most helpful.
They often times tended to be way too generic or entry level. They would also become sales pitches to upgrade or get new Adaptive Planning products. The questions in the training would be very niche and specific to other organizations. They were rarely helpful to the group at large.
Trust the expertise of very strong 3rd party implementers. Having deployed Adaptive at a separate company before, I thought I knew it all (hubris, I know). Fortunately, I began to (very quickly) trust the judgment of our Carlson implementation team, and they provided invaluable insights and best-in-class processes that have benefitted me and my team greatly.
Other than Hyperion, which is in a different league and more suitable for much larger organizations, I would say that Budgyt compares very favorably. We moved from Great Plains to Sage Intacct, and evaluated their planning solution at the time of implementation. We were very underwhelmed by the management reporter tool that we used with GP, and budgeted with Excel prior to moving to Sage. We began looking at several other products alongside Budgyt & Sage's solution, but were so impressed by Budgyt that at its price point it was a no-brainer. We liked Sage's tools plenty, but felt that Budgyt could do more and cost less, so opted to go this route despite the lack of direct integration.
Workday became our choice because it is fully web-based and easily integrates with other systems. The learning curve for Workday was shorter than that of Dynamics. The reporting tools in Workday are more user-friendly than that of Dynamics. However Workday did not have Check Printing tools which are available in Dynamics. The organization started a project to digitize all financial transactions so it was not a priority feature. When it comes to scaling up the functionalities of Workday it was much easier than Dynamics.
The ability to budget at multiple organizational levels is central to Budgyt's design. These levels can be regions or product lines or departments, which are all easily rolled up to a consolidated organizational view. Reporting back against these levels is also built-in to the system.
We went from 2 users to 70+ users over a 2 year period of time. The application scaled wonderfully. 65 of those users were non-finance users so they were able to quickly learn the software and prepare budgets quickly and efficiently. That is the power of Adaptive and its ability to scale
It's facilitated a better financial literacy and management by the non-financial managers in the company, giving them a much better ability to see what they're spending, control it, and plan better in the future.
It's hard to quantify the ease of model and version management, but we could never do what we're doing now with our current staff. It would take a small army to replicate anything close to what Adaptive pulls off using Excel, if it's even possible.
