Workday Adaptive Planning Review
We use Workday Adaptive Planning mostly for our monthly and annual P/L planning. Recently, we started using model sheets for Capex cash …
Workday Adaptive Planning
Workday Adaptive Planning
Overview
What is Workday Adaptive Planning?
Workday Adaptive Planning(formerly Adaptive Insights) is a financial planning and reporting tool. It includes automated budgeting and forecasting, financial reporting, and other active planning capabilities, including integrations with third-party products like Salesforce.
Recent Reviews
Adaptive Planning, a key cog in a well run business
We use Adaptive Planning on a daily basis as a key function of my job. We utilize Adaptive for personnel planning, product P&Ls, …
Solid and intuitive planning solution
We purchased Adaptive Insights three months ago and are currently still in the implementation phase. We have our PnL currently up and …
Adaptive review from a national nonprofit
We use Adaptive across the entire organization, which includes 5 major departments and 85 business units/chapters. We plan each year in …
Effective in cost and use but not a panacea
I use Workday Adaptive Planning to help understand our spend across the company by GL code as reported via Netsute. Though not perfect, …
Workday Adaptive Planning in conjunction with Intacct accounting
Workday Adaptive Planning is being used by our entire company. The admins of the system are on the financial planning and analysis team. …
Workday Adaptive Planning – It’s Versatile!
10 out of 10
February 26, 2024
We use Workday Adaptive Planning for budget and forecast planning, reporting (utilizing both web and office connect excel reports), and …
Workday FINS and Adaptive simultaneous implementation, 3 years on
Our company's core financial forecasting is done in Adaptive, integrated with our Workday FINS platform for our GL. Adaptive is the key …
Excellent Planning and Analytics Tool.
We use Workday Adaptive Planning for our budgets and forecasts that end up back in Workday Finance. We also integrate Actuals from Workday …
Adaptive Rocks at Workfront!
Adaptive is being used across the entire company as our budget software. We also use it to generate some operational metrics, and are …
CareStar recommends Adaptive Insights for reporting and dashboards
We use it for financial statements, budgeting, forecasting, and other operational reporting. We also use the dashboard for both financial …
Workday Adaptive Planning unlocks financial management
Workday Adaptive Planning is used to plan and maintain financial forecasts and spending during ongoing R&D projects. It is kept up to date …
Adaptive Insights - Effectively manage actual data and budget data
As an organization that represents over 230,000 members, we are using Adaptive Insights to generate reports that provide transactions and …
Best tool for FP&A, easy to use, helpful for budgeting and planning
We were capable to onboard departmental budgets accessible to users on the cloud instead of using the excel sheets. We able to extend our …
Adaptive forecast creation !!!
10 out of 10
March 29, 2023
Adaptive is our main tool to prepare/review and analysis our final figures between Actual/Currently scenario vs Budget vs Outlook
How Workday Adaptive Planning Differs From Its Competitors
Workday Adaptive Planning AI Tools
We have reviewed the tools, it is still in infancy stage, not yet applicable to us until we better understand the capabilities.
Workday Adaptive Planning Data Driven
Yes, we recently acquired a small number of plants and it was very easy to train new users and add new levels to the current version.
Workday Adaptive Planning Data Driven
We have fully integrated Adaptive into our business processes. Our entire budgeting process is now housed in Adaptive, which also allows us to easily adjust the model to create up-to-date forecasts.
Workday Adaptive Planning Data Driven
Streamlined the planning process across 80 units - and provides real time updates to their plans year round.
Reporting
We already had real-time reports from our cloud-based accounting system, but their reporting system doesn't have the flexibility the Adaptive has, which is the major reason I purchased Adaptive. Complaints about our reports have stopped. I now get compliments on how easy and useful Adaptive is. I …
Role Impact
Moving to Adaptive's real time reporting has freed up 1 week per month that we used to spend preparing 85 unit P&L reports. That's 3 months of time per year freed up to spend on more strategic issues.
Workday Adaptive Planning Data Driven
Workday Adaptive Planning capabilities has impacted my organization's business processes mainly as a result from gaining visibility into previous years' spend in given GL codes which I can then use to revisit stakeholders on what spend may or may not be needed into the new year during year end …
Company-Wide Alignment
We were able to implement a company wide requirement to answer any questions related to variances directly within the Adaptive platform for ease of use by budget owners as well as the FP&A department. Additionally, we were able to use Office Connect to build out reports and analytics for our board …
Continuous Planning
Adaptive made our planning process much more automated as well as easy to use. Budget owners are able to see expenses against their budgets in real time as we have our accounting ERP directly connected. The ability to directly input comments related to variances has streamlined the monthly review …
Cloud Transition
Previously, we were utilizing spreadsheets to perform our annual budget. Utilizing Adaptive Planning has vastly streamlined our old process of using excel only and limited the chances of user errors.
Workday Adaptive Planning AI Tools
I have not used these tools in depth. AI and ML are two areas that Workday is focusing a lot on in the past releases of new functionality. I think our organization will start to use them in the near future. We expect that the tools will help catch errors and improve our review.
Workday Adaptive Planning Data Driven
Workday Adaptive Planning is centrally used in FP&A at this time. Therefore it hasn't hit many business processes outside of finance. As it relates to finance, Adaptive has helped improve processes around inputting data and reporting on that data efficiently for both budgets and forecasts. The …
Company-Wide Alignment
We focus on a centralized planning team, so others outside of finance don't use Adaptive. I believe Adaptive has great tools to allow enterprise-wide planning, but I can't speak on how well it works. The tools we use for workforce, revenue, and operational planning do work really well for our …
Continuous Planning
We perform a monthly reforecast using Adaptive and it works well for our strategy. We generate the forecast using different types of sheets and at times use planning dashboards to streamline that process. We are then able to publish the plans to workday to allow those forecasts to reach the …
Cloud Transition
We used Miscrosoft Excel prior to Adaptive Planning. The transition has improved our processes massively. We're able to plan TOGETHER instead of in silos. This makes it easier to communicate on the same page. The reporting functionality has been hugely impacted as well. It takes a matter of …
Workday Adaptive Planning Data Driven
We have business line leaders that are more accountable and more aware of their unit P&L than they used to be. We have really built an effective management and accountability practice, and the associated reporting, on the backbone of Adaptive planning, and its integration with our Workday GL. …
Workday Adaptive Planning Data Driven
We are collaborating with multiple departments to automatically integrate their data into Adaptive to enhance our budgeting processes. This requires some process changes, but it lets the data owners know they are the source of the data in Adaptive instead of them wondering where we got their data …
Workday Adaptive Planning Data Driven
It is used only within one section of a large comapny. It would not be possible to estimate this unless it would be rolled out company wide. But for our department it indicators have been positive with Workday Adaptive Planning . I'm not aware of plans to role it out company wide.
Workday Adaptive Planning Data Driven
Adaptive has greatly improved Planning Optimization. The integration is
working seamlessly with previous software we used.
Workday Adaptive Planning Data Driven
It is very powerful when it comes to data analysis, constructions of financial models and long term planning for an organizational growth and it helped us to save cost, project better plans and were capable enough to provide significant KPIs result based on which we were able to increase our …
Workday Adaptive Planning Data Driven
It was a very useful to understand and analyze the actual figures Vs forecast or budget data. Mainly drive to understand and see the projections
Workday Adaptive Planning Data Driven
Yes, it has provides a more streamlined and automated approach to business processes as it ensures structured planning, sharing of deep business critical insights. It allows various financial and non-financial users to collaborate and be involved in planning process, support operations and sales …
Company-Wide Alignment
It helped us significantly reduce the different types of software and platforms we used to run many aspects of our business in the past. It's nice having all these features and areas of the business under one roof finally.
Continuous Planning
This has helped us see into the future more than ever before. We continue to incorporate more and more of our organization into Workday. From goal planning throughout the year and year after year for the entire company to recognizing great performance and bringing all our benefits into one place …
Cloud Transition
We've transitioned several on-prem solutions to Workdays cloud based solution which has helped us achieve our overall goal of shutting down data centers that we no longer need as we transition many aspects of our business to the cloud.
Workday Adaptive Planning Data Driven
We use Adaptive Planning as a source of truth for headcount planning. We store all of our personnel information, historical, terminated employees, and also budgeted headcount that carries over every month. Recruiters rely on the stored information for headcount planning. Overall, headcount …
Workday Adaptive Planning Data Driven
It helped the organization with data governance. It ensured the data was clean and conformed to the requirements. This allowed the team to focus on the reports and discussing the data instead of cleaning it. It made the company have data to make better decisions and understand what impact …
Workday Adaptive Planning Data Driven
Both increased the speed to report and model as well as the accuracy. The major lift is getting the model set up in the first place. The maintenance of the model is relatively straightforward thereafter.
Workday Adaptive Planning Data Driven
We already have Workday in the organization and integration of adaptive planning helped improve the over all experience of doing financial planning and forecasting. It helped us in streamlining our planning process and improved the reporting and SLAs.
Workday Adaptive Planning Data Driven
We are still spending and are forced to spend an inordinate amount of time structuring and cleansing data so that it can be ingested
Workday Adaptive Planning Data Driven
The workflow process in the system allows for seemless submission and approval process of submitting plans within the system
Reporting
Adaptive has improved our reporting and analysis ten fold due taking many manual spreadsheets and automating monthly reporting and analysis. During our budget development we have been able to utilize what-if analysis to determine the impact of eliminating programs/activities during budget …
Role Impact
The biggest impact for me individually has been spending significantly less time assisting end-users with budget inputs and more time analyzing the data that has been input. Additionally, the response time of Adaptive is great as we have had no system outages. Our previous system was very slow and …
Reporting
The ease of reporting is probably the biggest time saver for our department. The ability to streamline line reporting has been phenomenal. Our CEO will say it use to take the previous FP&A team 2 days to turn around a request of mine and now it takes you team 10 minutes.
Role Impact
The amount of time it has freed up for myself and the team has been invaluable. We have been able to be more strategic to the rest of the organization. It has also allowed us to be flexible and nimble.
Reporting
Since implementing Adaptive Insights, we cut 5 days from our month-end reporting cycle! We are also able to provide intuitive dashboards in real-time to our executives. We recently created a quick what-if analysis in Adaptive Insights we otherwise would not have been able to do in Excel. Adaptive …
Role Impact
Since implementing Adaptive Insights, I have been able to spend more time on strategic analysis, creating longer-term forecasts, cash flow modeling, and capital expenditure forecasting to name a few. It saves a significant amount of time for month-end reporting.
Reporting
We have experienced fast reporting cycles, as mentioned previously, we have shortened our close schedule by a day or two in terms of the time it takes to complete the work. We are able to access "live" data much faster than before. We also have created KPI's/dashboards to report to senior …
Role Impact
It has made the month-end process and budgeting cycles much more efficient which has allowed me to focus on other tasks/projects that my position exposes me to.
Role Impact
I have much more time for decision making on the analysis instead of compiling the analysis
Awards
Products that are considered exceptional by their customers based on a variety of criteria win TrustRadius awards. Learn more about the types of TrustRadius awards to make the best purchase decision. More about TrustRadius Awards
Popular Features
- Financial budgeting (171)9.090%
- Forecasting (166)8.787%
- Long-term financial planning (160)8.585%
- Management reporting (171)8.383%
Reviewer Pros & Cons
Verified User
Director in Finance and Accounting
Construction Company, 5001-10,000 employees
Verified User
Manager in Finance and Accounting
Hospital & Health Care Company, 201-500 employees
Pricing
N/A
Unavailable
What is Workday Adaptive Planning?
Workday Adaptive Planning(formerly Adaptive Insights) is a financial planning and reporting tool. It includes automated budgeting and forecasting, financial reporting, and other active planning capabilities, including integrations with third-party products like Salesforce.
Entry-level set up fee?
- Setup fee optional
For the latest information on pricing, visithttps://forms.workday.com/en…
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
Would you like us to let the vendor know that you want pricing?
57 people also want pricing
Alternatives Pricing
What is Kepion Planning?
Kepion is a cloud planning & analytics software company that connects all organizations' teams under a single view of their business performance. We enable more intelligent decisions to be made by companies about their financial and operational future. Kepion global offices and partners deliver…
What is PlanGuru?
PlanGuru is budgeting, forecasting and financial analytics software for SMB's, Nonprofits and the Accountants/ Advisors that work with them.
Features
BI Standard Reporting
Standard reporting means pre-built or canned reports available to users without having to create them.
9.3
Avg 8.0
- 9Pixel Perfect reports(1) Ratings
Pixel Perfect reports are highly-formatted reports with graphics and ability to preview the report before printing.
- 10Customizable dashboards(1) Ratings
Customizable dashboards are dashboards providing the builder some degree of control over the look and feel and display options.
- 9Report Formatting Templates(1) Ratings
Ad-hoc Reporting
Ad-Hoc Reports are reports built by the user to meet highly specific requirements.
8
Avg 8.3
- 9Drill-down analysis(1) Ratings
Drill down analysis is the ability to get to a further level of detail by going deeper into the hierarchy.
- 7Formatting capabilities(1) Ratings
Ability to format output e.g. conditional formatting, lines, headers, footers.
- 8Integration with R or other statistical packages(1) Ratings
Integration with the open-source R predictive modeling environment.
- 8Report sharing and collaboration(1) Ratings
Report sharing and collaboration is the ability to easily share reports with others.
Report Output and Scheduling
Ability to schedule and manager report output.
8
Avg 8.2
- 8Publish to PDF(1) Ratings
- 8Report Versioning(1) Ratings
Report versioning is the assignment of version numbers to each version of a report to help in tracking.
- 8Report Delivery Scheduling(1) Ratings
Report Delivery Schedule is the ability to have reports delivered to a destination at a specific data and time.
Data Discovery and Visualization
Data Discovery and Visualization is the analysis of multiple data sources in a search for patterns and outliers and the ability to represent the data visually.
7.7
Avg 7.6
- 7Pre-built visualization formats (heatmaps, scatter plots etc.)(1) Ratings
Pre-built visualization formats are canned visualization types that can be selected to visualize different kinds of data.
- 8Location Analytics / Geographic Visualization(1) Ratings
Location analytics is the visualization of geographical or spatial data.
- 8Predictive Analytics(1) Ratings
Predictive Analytics is the ability to build forecasting models based on existing data sets.
Access Control and Security
Access control means being able to determine who has access to which data.
9
Avg 8.7
- 9Multi-User Support (named login)(1) Ratings
Named model access means that users have access based on name and password.
- 9Role-Based Security Model(1) Ratings
Role-based access means that access to data is determined by job or position in the corporation.
- 9Multiple Access Permission Levels (Create, Read, Delete)(1) Ratings
Multiple access permission levels means that different levels of users have different rights.
Mobile Capabilities
Support for mobile devices like smartphones and tablets.
8.5
Avg 8.0
- 8Responsive Design for Web Access(1) Ratings
Web design aimed at producing easy-to-read sites across a range of different devices.
- 8Mobile Application(1) Ratings
A dedicated app for iOS and/or Android.
- 10Dashboard / Report / Visualization Interactivity on Mobile(1) Ratings
In-app dashboard reports and data visualization.
Budgeting, Planning, and Forecasting
These activities are designed to assist with both data-driven operational, short-term planning and strategic long term planning
8.7
Avg 8.3
- 8.5Long-term financial planning(160) Ratings
3-5 year financial plan with cashflow.
- 9Financial budgeting(171) Ratings
Annual budget for revenue and operating expenses, headcount/compensation, capital expenses, projects, etc.
- 8.7Forecasting(166) Ratings
Combining actuals and budgets, rolling forecasts, driver-based models.
- 8.9Scenario modeling(157) Ratings
Financial or operational modeling of alternate future states and planning for each.
- 8.3Management reporting(171) Ratings
Budget vs. actual or forecast, P&L’s, performance over time, between products etc.
Consolidation and Close
Consolidation of data from multiple entities with currency management, reporting and audit trails.
7.6
Avg 8.0
- 7.8Financial data consolidation(105) Ratings
Consolidating data from several entities into a single statement using US GAAP, IFRS or other standards.
- 7.8Journal entries and reports(67) Ratings
Ability to enter journal entry adjustments and produce reports showing all journal entries for a specific period.
- 6.7Multi-currency management(80) Ratings
Ability to handle foreign currency conversions during consolidation.
- 7.6Intercompany Eliminations(59) Ratings
Matching and elimination of intercompany revenue, expenses, and balance sheet accounts.
- 7.9Minority Ownership(35) Ratings
Consolidate financials full or partial ownership of subsidiaries, equity pick-up.
- 8.5Local and consolidated reporting(93) Ratings
Ability to report against individual business entities and the consolidated umbrella entity.
- 6.9Detailed Audit Trails(116) Ratings
Tracing changes to data and processes that were run.
Financial Reporting and Compliance
Financial statements and regulatory filings
8.5
Avg 8.2
- 8.6Financial Statement Reporting(143) Ratings
Creation and production of balance sheets, income statements, cash flows, other schedules
- 8.5Management Reporting(157) Ratings
Tools facilitating creation of internal ad hoc or standard reports.
- 8.1Excel-based Reporting(156) Ratings
Ad hoc or formatted reports using MS Excel.
- 8.6Automated board and financial reporting(135) Ratings
Tools to help automate creation of regulatory reports such as SEC filings and board books.
- 8.7XBRL support for regulatory filing(25) Ratings
Support for the XBRL standard reporting format for exchanging financial data.
Analytics and Reporting
Dashboards and scorecards for KPI monitoring and benchmarking
7.7
Avg 8.0
- 7.1Personalized dashboards(114) Ratings
Create custom dashboards and reports without the help of IT or administrators.
- 7.3Color-coded scorecards(94) Ratings
Track and analyze performances with interactive, color-coded balanced scorecards.
- 8.1KPIs(107) Ratings
Select from a library of more than 6,000 key performance indicators, and incorporate KPIs into your planning process.
- 7.6Cost and profitability analysis(111) Ratings
Cost and profitability analysis provides data for business decision making.
- 7.9Key Performance Indicator setting(95) Ratings
Ability to set key performance indicators for measuring progress towards goals.
- 8.3Benchmarking with external data(66) Ratings
CPI, daily exchange rates, industry KPIs. with scheduled data refreshes.
Integration
Ability to integrate with external applications.
8.3
Avg 8.3
- 8.8Flat file integration(118) Ratings
Integration of flat files like text documents and comma separated files
- 8.1Excel data integration(146) Ratings
Ability to integrate directly with Excel data.
- 8.1Direct links to 3rd-party data sources(112) Ratings
Integration with external applications like ERP, CRM, HCM
Product Details
- About
- Integrations
- Competitors
- Tech Details
- FAQs
What is Workday Adaptive Planning?
Everybody plans, and strategic planning is a crucial process for every business. This business planning software enables teams to create budgets, forecasts, and models in less time and with greater accuracy, so that the team can focus on analysis and strategy. Having up to date, reliable data, teams can focus on the story behind the numbers, and can improve business decisions and collaboration. Additionally, Workday Adaptive Planning and Consolidation delivers a unified solution that enables Accounting and Finance to accelerate the close, increase planning agility and drive faster, more informed decisions. The software was ranked a leader in Gartner's Cloud Planning and Analysis quadrant.
Workday Adaptive Planning Features
Budgeting, Planning, and Forecasting Features
- Supported: Long-term financial planning
- Supported: Financial budgeting
- Supported: Forecasting
- Supported: Scenario modeling
- Supported: Management reporting
Consolidation and Close Features
- Supported: Financial data consolidation
- Supported: Journal entries and reports
- Supported: Multi-currency management
- Supported: Intercompany Eliminations
- Supported: Minority Ownership
- Supported: Local and consolidated reporting
- Supported: Detailed Audit Trails
Financial Reporting and Compliance Features
- Supported: Financial Statement Reporting
- Supported: Management Reporting
- Supported: Excel-based Reporting
- Supported: Automated board and financial reporting
- Supported: XBRL support for regulatory filing
Analytics and Reporting Features
- Supported: Personalized dashboards
- Supported: Color-coded scorecards
- Supported: KPIs
- Supported: Cost and profitability analysis
- Supported: Key Performance Indicator setting
- Supported: Benchmarking with external data
Integration Features
- Supported: Flat file integration
- Supported: Excel data integration
- Supported: Direct links to 3rd-party data sources
Workday Adaptive Planning Screenshots
Workday Adaptive Planning Integrations
Workday Adaptive Planning Competitors
Workday Adaptive Planning Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | Apple iOS, Android, Windows Phone, Mobile Web |
| Supported Countries | United States, Canada, United Kingdom, Ireland, Australia, New Zealand, and many more! |
| Supported Languages | English, Spanish, French, Japanese, Portuguese (Brazilian), Russian, Polish, Dutch |
Frequently Asked Questions
Workday Adaptive Planning(formerly Adaptive Insights) is a financial planning and reporting tool. It includes automated budgeting and forecasting, financial reporting, and other active planning capabilities, including integrations with third-party products like Salesforce.
Reviewers rate Financial budgeting highest, with a score of 9.
The most common users of Workday Adaptive Planning are from Mid-sized Companies (51-1,000 employees).
Workday Adaptive Planning Customer Size Distribution
| Consumers | 0% |
|---|---|
| Small Businesses (1-50 employees) | 0% |
| Mid-Size Companies (51-500 employees) | 60% |
| Enterprises (more than 500 employees) | 40% |
Comparisons
Compare with
Reviews and Ratings
(337)Attribute Ratings
- 7.7Likelihood to Renew43 ratings
- 7.3Availability11 ratings
- 9.1Performance5 ratings
- 9Usability109 ratings
- 8.1Support Rating33 ratings
- 7.3Online Training9 ratings
- 8.2In-Person Training2 ratings
- 9.4Implementation Rating27 ratings
- 8.2Configurability5 ratings
- 8.6Product Scalability12 ratings
- 8.2Ease of integration8 ratings
- 6.4Vendor pre-sale4 ratings
- 8.2Vendor post-sale4 ratings
- 7.6Data Sources17 ratings
- 7.5Data Sharing and Collaboration17 ratings
- 8.2Professional Services1 rating
- 7.3Contract Terms and Pricing Model1 rating
Reviews
(1-2 of 2)Companies can't remove reviews or game the system. Here's why
December 16, 2022
Great product when properly trained
Verified User
Manager in Finance and Accounting
Health, Wellness and Fitness Company, 1001-5000 employees
I use Adaptive Insights for mainly budgeting purposes and running monthly budget vs actual reports. It has helped the company dramatically with ensuring that we are using the correct and same version of the approved budget. We have 27 different entities creating budgets and within those entities up to 80 different departments. Before Adaptive Insights, there were a lot of Excel spreadsheets emailed back and forth. This created issues with version control. Adaptive Insights has also forced the company across all entities to map their chart of accounts in a similar fashion and use accounts for the same purpose.
- It does well with version control. I can ensure that all 27 entities know exactly which version is the correct budget that is approved.
- It does well with scenario planning. I can easily make adjustments with to the budget whether that is pushing sales, expenses, headcount, or capital projects.
- It does a good job with enforcing unity with the chart of accounts.
- It does permissions for different groups well.
- It did reporting groups and distribution well.
- There has been a real lack of training. This has caused issues especially with creating new reports.
- There could be better shortcut keys similar to Excel.
- There could be a better search functionality with the self tutorial area.
It works well with budgeting across large organizations. It helped with version control of the budget/forecast. There was a clear understanding around which the approved and default versions were. It enforced a set chart of accounts. It required the various groups across the organization to conform to be on the same page. It was easy to create a new budget/forecast version, distribute it to the organization, and track their progress.
78%
7.8
- Long-term financial planning
- 90%9.0
- Financial budgeting
- 90%9.0
- Forecasting
- 90%9.0
- Scenario modeling
- 70%7.0
- Management reporting
- 50%5.0
N/A
N/A
75%
7.5
- Financial Statement Reporting
- 80%8.0
- Management Reporting
- 80%8.0
- Excel-based Reporting
- 70%7.0
- Automated board and financial reporting
- 70%7.0
60%
6.0
- Personalized dashboards
- 70%7.0
- Color-coded scorecards
- 40%4.0
- KPIs
- 70%7.0
- Cost and profitability analysis
- 60%6.0
- Key Performance Indicator setting
- 70%7.0
- Benchmarking with external data
- 50%5.0
73.33333333333333%
7.3
- Flat file integration
- 70%7.0
- Excel data integration
- 80%8.0
- Direct links to 3rd-party data sources
- 70%7.0
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- The budget vs actual report creation time has been dramatically decreased from days to hours.
- The budgets are better known and easily accessed by all groups that have a budget.
- Because of lack of training, there are still manual processes where reports have to exported and manually updated.
It helped the organization with data governance. It ensured the data was clean and conformed to the requirements. This allowed the team to focus on the reports and discussing the data instead of cleaning it. It made the company have data to make better decisions and understand what impact decisions would have on the financials. It also allowed for budget owners to better understand where they were spending their money.
I think that the budgeting side is easy and nobody in the company had any issues with entering in budgets or being able to find their budget after the fact or their actuals. The issue I have is it isn't not as easy to create reports and custom accounts for very specific charts and reports.
I prefer Adaptive Planning in comparison to Planful and Data Rails. It feels like is has been easier to use with a quicker learning curve. The other systems were more intimidating for the nonfinance users, like the budget owners who would only need it for reporting or inputting their budgets.
100
The FP&A, accounting, executives, and budget owners are the main users of the software.
4
The head of FP&A, Manager of FP&A, and two analysts are the super users and the main support that do most of the support. There is the occasional IT resource that helps with integration aspects.
- Version control
- Scenario planning
- Report distribution
- Unifying the chart of accounts amongst all the entities
- Faster report distribution
- User access to confidential information
- Better Margin and Sku planning
- more driver based planning
- 18-24 month rolling forecast
The model has been setup and improved. It would take too much work to switch. There is more that can be put into the model to make it better.
Yes
It replaced a pure excel model.
- Price
- Product Features
- Product Usability
- Product Reputation
The product features were the most important aspect for the organization. We needed a product that was able to do version control, ensure security and rights access for the users, and something that would continue to scale with the company's fast pace growth. The ease of use for the budget owners was important to use so that they could be more self sufficient.
The continued support and training. That has improved but initially it was a bit of a challenge.
- Implemented in-house
Yes
We did a budget phase, actual phase, and then an automation phase. This helped us get the most use out of it from the beginning and there wasn't much buy in or resources needed from the rest of the company.
Change management was a minor issue with the implementation
This was an FP&A project but it would have been more effective and well accepted if we had brought in the accounting team earlier and shown then how it could improve their processes and accuracy.
- Moving at a proper speed.
- training the the users to fix issue with the model instead of relying on the implementation team
- Making sure there was buy in from the organization
- Training the end users on the software
It went relatively fast and smoothly from the Adaptive Planning side, most the delays were internal issues that needed to be resolved.
- Online Training
- In-Person Training
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.
- Creating new versions
- The user administration
- Updating the sheets
- Learning how to do new formulas
- There was some complexity with integrations
- Updating formulas into new levels
January 30, 2020
A must-have planning tool
Manager, FP&A
CTI Clinical Trial & Consulting (Hospital & Health Care, 501-1000 employees)
Score 10 out of 10
Vetted Review
Verified User
Adaptive Insights is used globally within Finance and within each department. Adaptive Insights addressed the issue of efficiency, user error, real-time data, and the ability to stop being so reliant on Excel spreadsheets.
- Adaptive is a cloud-based system that allows our users to interact with Finance from anywhere in the world.
- Office Connect is a great add-on to Excel that allows us to set-up reports and refresh them in an instant for more detailed information needed throughout the company.
- The report section is great but it doesn't quite give you the flexibility that Office Connect (Excel Add-On) does.
Adaptive Insights is well-suited for companies that operate with budgets that have multiple components and complex calculations.
100%
10.0
- Long-term financial planning
- 100%10.0
- Financial budgeting
- 100%10.0
- Forecasting
- 100%10.0
- Scenario modeling
- 100%10.0
- Management reporting
- 100%10.0
41.42857142857143%
4.1
- Financial data consolidation
- N/AN/A
- Journal entries and reports
- N/AN/A
- Multi-currency management
- 100%10.0
- Intercompany Eliminations
- N/AN/A
- Minority Ownership
- N/AN/A
- Local and consolidated reporting
- 100%10.0
- Detailed Audit Trails
- 90%9.0
40%
4.0
- Financial Statement Reporting
- N/AN/A
- Management Reporting
- 100%10.0
- Excel-based Reporting
- 100%10.0
- Automated board and financial reporting
- N/AN/A
- XBRL support for regulatory filing
- N/AN/A
N/A
N/A
- Personalized dashboards
- N/AN/A
- Color-coded scorecards
- N/AN/A
- KPIs
- N/AN/A
- Cost and profitability analysis
- N/AN/A
- Key Performance Indicator setting
- N/AN/A
- Benchmarking with external data
- N/AN/A
33.333333333333336%
3.3
- Flat file integration
- N/AN/A
- Excel data integration
- N/AN/A
- Direct links to 3rd-party data sources
- 100%10.0
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
- Adaptive Insights has saved countless hours from updating 100's of spreadsheets that we use to manage during our budget process.
- Adaptive Insights and a Workday company
We didn't evaluate other products. Adaptive Insights was highly recommended by our consultants.
52
Finance, VP's, Department Heads
2
Manager, FP&A and Sr. Director of Finance maintain the Adaptive Insights Planning.
- Managing the annual budget process
- Maintain a rolling forecast
- Transitioned countless excel spreadsheets to the Adaptive Planning budget process.
- Transitioned all budget and variance reporting to an electronic process, eliminating paper reports.
- Cash flow planning & forecasting
- Developing an analysis for billable time vs. non-billable time
Adaptive Insights continues to evolve and we are excited about how it will assist us in other areas, such as project accounting, etc.
Yes
Excel Spreadsheets
- Price
- Product Features
- Product Usability
- Product Reputation
- Positive Sales Experience with the Vendor
- Analyst Reports
We weren't given many budgeting software options during the selection process but that's because we were presented with the best product for our business.
- Third-party professional services
Maner Costerisan implement both Intacct and Adaptive Insights for CTI.
No
Change management was a big part of the implementation and was well-handled
When implementing new software you have to look at the needs of your company, as well as policies/procedures, legally required reporting, growth, etc. We are a company going through large expansions and our software at the time couldn't handle the needs. Adaptive Insights was able to accommodate our needs and allow us to evolve into a more robust reporting system.
- None
Our 3rd party vendor was on top of the implementation and asked the right questions to ensure that our implementation worked smoothly.
- Online training
- in-person training
Our 3rd party vendor walked us through the whole process and was available for questions after we started using the Adaptive Insights. I would suggest using the online training environment plus an individual walk through of your company's model to get more acquainted with the instance. There were also on-line tutorials to help us along the way.
The training program in Adaptive Insight has grown quite a bit, since I originally implemented in Adaptive Insights. I would now give it a 10 rating and suggest that anyone implementing for the first time work through the certification program. The certification program is a very detailed in depth primer to understanding how the system works.
I don't think I could use this product without any training. However, with just minimal instruction that I give to my end-users each year, they are able to develop budgets and review reports without any major issues. Additionally, the system works so well, I'm to instruct end-users by phone on the best way to interact with the system.
Adaptive Insights seems to have no limits to the configurations and reporting you can do from the information that is integrated into the system. 99% of the time if we can dream it up, Adaptive can help us implement a change to accommodate the needs of our company. There are abilities to have multiple instances so that models can be adapted to the growing needs of any company.
Take the time to think things through before implementing any new software product. When looking at how you create budgets think about what would be the most efficient ways for reporting, planning, integrations, etc. It's easier to configure your model the right way in the beginning than to go back and make significant changes later. Although the Adaptive Insights is great at making model changes, it takes a lot of time to validate the changes to ensure everything is working properly.
Yes - we have customized the interface extensively
Since Adaptive Insights is the expert, we worked with their software engineer to customize our interface and they worked through the issues without any problems.
Nothing to note at this time.
No
At this time, our administrators have the knowledge to operate the product with no additional premium support. However, each year we evaluate our Adaptive Insights model to see what improvements can be made and often enter into a services contract for major changes to our model.
The support team responds timely but typically on a pacific time vs. eastern standard time. I would prefer to have a phone number to call vs. email my questions and have issues answered in my time zone.
Yes
Yes but in most instances, Adaptive Insights finds the bugs and reports them to us to before we notice.
After a services contract was closed out, my company noticed a issue with some changes that were made but it wasn't until 3 mos. later. Our customer success team tracked down the original person to review the case and make corrections to the issue and fix it within a day.
- Since Adaptive Insight is a cloud based system we can interact with our global team in real-time.
- Since we are a global company, we have 20 different currencies (and growing) with our model. The system seamless handles currency conversion with the transactions, budgets, etc.
- The formulas are somewhat confusing for me but I am currently working towards understanding them so that I can be a more active participant with making model changes to formulas, etc.
Yes, but I don't use it
Since implementing Adaptive Insights in 2014 we had 3 administrative users. Since then we have grown to 50+ users that actively participate in the budget process and are accountable for their annual planning. Each year we request feedback from our users and each year they say that Adaptive Insights is easy to use and continues to make the budget process a seamless process.
Whatever we can imagine doing with Adaptive, the professional services can make it happen. What I would suggest is to make sure that any changes that are made, be sure to lock previous version to ensure nothing changes because of a model change. Certain changes will affect the whole model, vs. a version.
I am on eastern standard time and it seems like most of the help desk is on pacific time. It would be nice to have help desk experts in my time zone, so that I can get quicker troubleshooting responses. The time zone issue hasn't caused a major issue yet but when you are in the middle of a task and want to keep your flow going, it's kind of a pain to wait a few hours until the staff gets in the office.
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.
- Intacct
- Paycor
Intacct and Adaptive Insights integrations has worked out great. Paycor hasn't been able to develop an API that will seemlessly integrate the HRIS into Adaptive. Therefore we export data from Paycor and import the data into Adaptive Insights. The hope is to be able to have a direct link, so that we can regularly update information electronically vs. a manual process.
- Paycor
No-Paycor doesn't currently support the integrations, even though they use Adaptive Insights. We are hoping that they are able to develop the API soon.
- File import/export
- API (e.g. SOAP or REST)
Nothing was missed.
Adaptive worked with us to complete our initial integration with actuals and later with transaction data. Adaptive Insight's integration team helped us transition from a third-party integration system to their own. The whole process was seamless and works perfectly.
Be sure to think the process through so that data is brought over to Adaptive Insights and it maps correctly by validating everything before finalizing your project. This is a necessary step to any implementation.
Our vendor was great during the sales process but what we didn't realize until it was time to implement, they sourced the work out to another vendor. The vendor that sold us Adaptive had never implemented before. Since the initial sale, we've moved on to a new vendor with more expertise or dealt directly with professional services.
They were okay but we dealt with their contractors. We didn't find out until after the sale that the vendor wouldn't directly be handling the implementation. The contractors that actually implemented contacted us and did a great job. No complaints with the contractors that implemented for us. They were knowledgeable, patient and efficient.
I'm not sure what the principle terms were for the original vendor, since its been 6 years since our initial implementation. However, our initial implementation was only the Planning model. Since then, we've added integration, reporting and office connect. We are anticipating adding additional model products in the future to begin having financial reports run through Adaptive.
The most important tip to me is that you should make sure that the vendor has had a few implementations under there belt. Obviously having an experienced implementer with knowledge of your type of business helpful, as well. The best information is to check references and make sure you do enough research to ensure your vendor truly has the expertise to get the job done. Take the references with a grain of salt and make sure to ask good questions.
Yes
I would say for the most part the upgrade of my model went okay. The issue I had was that the implementer was not consistent and didn't test changes before he told me they were done. Testing the logic, once you've made changes in the model goes along way to ensuring validation.
- The Office Connect Update - Now other people can view an OC document without having to log-in to the software.
- Quicker integration
- Better reporting options
No
No