IBM Planning Analytics, powered by IBM TM1®, is an integrated planning solution designed to promote collaboration across the organization and help keep pace with the speed of modern business. With its calculation engine, this enterprise performance management solution is designed to help users move beyond the limits of spreadsheets, automating the planning process to drive faster, more accurate results. Use it to unify data sources into one single repository, enabling users to build…
$825
per month 5 users
Workday Financial Management
Score 8.3 out of 10
N/A
Workday Financial Management is built on a global foundation that provides organizations with the core financial management capabilities expected from a modern cloud solution. It goes well beyond just managing financial processes to achieve greater insight, improve financial consolidation and reduce time to close, instill internal control and auditability, and achieve consistency across global operations. By using an in-memory architecture and object data model,…
I would be likely to recommend IBM Planning Analytics, particularly in scenarios where comprehensive financial and operational planning is essential. For instance, in our construction company, it is awesome for optimizing resource allocation across multiple projects, creating detailed project budgets, and conducting risk analysis to mitigate project uncertainties.
Workday is well suited for managing employees throughout their full life cycle. It excels at housing employee data from the start of their time with the company through their departure. Workday is less suited to payroll functions, which could be more robust.
The flexibility of going beyond handling the accounts, where we can handle cash, assets, and accounting simultaneously for the customer.
The single platform offers grants management where you can organize the lifecycle of the grants and synchronize it with any criteria of grant closing out scheme.
I personally liked Project billing with the essence of evaluating project revenue and nice reporting templates that can be shared with the customer at any stage of the project while having the flexibility of auditing the reported cost.
IBM Planning Analytics was an upgrade from an older version of TM1 that is experiencing some growing pains, some functionality is harder to reach than it has been in the past
It is easy to learn as a surface user with created reports, but it does require some technical skills to make advanced calculations and reports if there is no reliable consultant available, much like Excel
Since IBM Cognos Express is suitable only for medium data warehouse environment, we are not sure if this tool solves the long term need as the business keeps growing rapidly. So its a 50/50 ratio to renew Express license. But having said that, the components of IBM Cognos Express are also available in other Cognos BI suites like Cognos 10.x version. So we will probably upgrade our environment to IBM Cognos 10.x which comes with more new features.
For developers, admins and end users looking for flexibility, IBM Planning Analytics would rate very highly on usability. For example, a developer has access to a highly performant built-in ETL (Extract Translate Load) tool and scripting language called Turbo Integrator that can (among other things) bring in data via flat file or direct connection from many data sources, move data around Planning Analytics, perform batch calculations, export to files or other data stores. In the rare situation where limitations are encountered there is a well documented REST API. Admins and end users benefit from the intuitive PAW (Workspace) interface as well as the rich Excel integration through Planning Analytics for Excel (PAfE). Since flexibility inherently comes with a little more complexity, so an organization with simple and "cookie-cutter" requirements may rate Planning Analytics a little lower.
Workday is easy enough navigate, as long as it is properly set up. With that said, it can be put together in a modular fashion as well, allowing for a very high degree of flexibility in terms of design and process delegation. Finally, it makes consolidation achievable in times previously unthinkable.
Although I find the IBM Planning analytics documentation quite time consuming, their support with email and call is something i can term as very considerate and patient, I have had few calls about the features and how i would want to implement them within my projects, and the teams have been super helpful to resolve my issues
Our support team has been awesome. They are extremely knowledgeable and have been able to guide us through all of the challenges we have faced. Workday's community online is also extremely helpful with many trainings and help topics that can be reviewed at your convenience.
Anaplan does not handle sparsity; this is very problematic for large volume data sets (many 0's). There also are limitations to the number of dimensions that can be used in a module. If more dimensions are required, then separate modules need to be built and intertwined. IBM PA does not have these limitations.
Despite Airtable also being easier to use one thing that differentiates and put forth Workday Financial Management tool above is it's key features and better suited functionality for handling confidential data. The other positive note where Workday Financial Management performs high is it key analytics tool that's easier to use and representation of information into insightful dashboards.
We were able to combine 4 different HR modules into one system.
We reduced data breach incidents by 95% after shifting to Workday. One of our legacy softwares had vulnerabilities.
The initial learning curve was higher than projected. We spent about a week to 10 days extra time deploying it, which affected the profit center that year.
