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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.

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Recent Reviews
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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

View all 45 features
  • Financial budgeting (171)
    9.0
    90%
  • Forecasting (166)
    8.7
    87%
  • Long-term financial planning (160)
    8.5
    85%
  • Management reporting (171)
    8.4
    84%

Reviewer Pros & Cons

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Pricing

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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

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Alternatives Pricing

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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.

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Features

BI Standard Reporting

Standard reporting means pre-built or canned reports available to users without having to create them.

9.3
Avg 8.1

Ad-hoc Reporting

Ad-Hoc Reports are reports built by the user to meet highly specific requirements.

8
Avg 8.3

Report Output and Scheduling

Ability to schedule and manager report output.

8
Avg 8.2

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

Access Control and Security

Access control means being able to determine who has access to which data.

9
Avg 8.7

Mobile Capabilities

Support for mobile devices like smartphones and tablets.

8.5
Avg 8.0

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

Consolidation and Close

Consolidation of data from multiple entities with currency management, reporting and audit trails.

7.6
Avg 8.1

Financial Reporting and Compliance

Financial statements and regulatory filings

8.5
Avg 8.2

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

7.7
Avg 8.0

Integration

Ability to integrate with external applications.

8.3
Avg 8.3
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Product Details

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

Screenshot of Adaptive Planning balance sheets.Screenshot of Adaptive Discovery visuals.Screenshot of Adaptive Planning expense variance analysis report.Screenshot of Adaptive Discovery visuals with drill-down capabilities.Screenshot of Adaptive Planning in-sheet visualizations (waterfall chart)Screenshot of Sparklines are used to visualize trends and make adjustments visuallyScreenshot of Built-in audit trail and cell explorer will show the source and history of any metric, assumption or formula

Workday Adaptive Planning Technical Details

Deployment TypesSoftware as a Service (SaaS), Cloud, or Web-Based
Operating SystemsUnspecified
Mobile ApplicationApple iOS, Android, Windows Phone, Mobile Web
Supported CountriesUnited States, Canada, United Kingdom, Ireland, Australia, New Zealand, and many more!
Supported LanguagesEnglish, 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.

Anaplan, OneStream, and Planful are common alternatives for Workday Adaptive Planning.

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

Consumers0%
Small Businesses (1-50 employees)0%
Mid-Size Companies (51-500 employees)60%
Enterprises (more than 500 employees)40%
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Comparisons

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Reviews and Ratings

(337)

Attribute Ratings

Reviews

(101-125 of 184)
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Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Has increased the accuracy an timeliness of the budget.
  • Has reduced the amount of staff time required to prepare the financial statements for the Board package.
  • Has increased the timeliness and accuracy of the forecasting process and reduced the amount of effort required.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • We went from having to maintain 40 different spreadsheets to having a consolidated model.
  • Updating various assumptions in a matter of minutes instead of days has been invaluable.
  • Reforecasts for the business have been so much easier not only on the finance team but also the business leads.
March 18, 2018

Basic Review

Ernie Leonard | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • I think Adaptive has had a positive impact on our organization's budgeting process
  • Adaptive has helped during the financial review process because more users are getting the data faster and going through their numbers quicker.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • We used to outsource our management reporting process (before my time) so it has massively improved our reporting process- and cut down the number of days from period close to reporting (sorry don't know what it was before but it's now 5 days)
  • It has therefore cut costs as the outsourinc cost was more expensive previously
Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • Our budgeting process went from a 5 month process start to finish to about a 3.5 month process start to finish. This was a great change for our sales force who are still very busy when the budget process was starting before Adaptive. And the review/approval process is such a great tool because you can see changes made in real time without sending files back and forth.
  • We are starting to do more what-if scenarion modeling and getting a handle on projections earlier in the year.
  • The sales team has praised the sales forecasting process in Adaptive because it is much more user friendly with more information available to them.
Amy Kee, CPA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • The most positive impact has been on time. While it took some time to get things set up correctly, once we did, we were able to report results very quickly.
  • The budgeting process has gone much more quickly.
  • What-if scenarios are a little trickier. There are multiple ways you can do it. We have chosen to use assumptions for percentages and then copy the original version to a "what-if" version and change the assumption it is pointing to. However, this is a bit clunky.
  • Month-end reporting is getting faster and faster the more we automate through Adaptive.
Chip Auscavitch | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • We now feel comfortable moving to a 12 month rolling forecast, which we wouldn't have been able to do without Adaptive.
  • Budgeting is much more accurate.
  • We now spend less time building "what-if" scenarios.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Positive impact for us is that the system is easy to use.
  • Another positive impact is that it's easy to make a change, and the impact is immediate on the bottom line.
  • Connectivity to Excel reporting is also a huge plus.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • It has radically simplified our budgeting process - no more consolidation, no questions regarding versioning.
  • It has made management of multiple scenarios a breeze and helped us to create a solid basis for longer-term modelling.
  • It has given us a source of truth for forward headcount planning - it is an excellent communication tool between finance, HR, and department heads.
January 30, 2018

Adaptive Admin Review

Zach Miles | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Adaptive has paved the way towards a more standardized view of our company.
  • Adaptive has made it possible for our company to compile full year forecasts at an ongoing pace (monthly).
  • Personally, Adaptive has reduced the overtime spent on building reports, packs and presentations.
Meghan Gardiner, CPA, CA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Significantly decreased our budget cycle time. Fewer hours dedicated to running multiple excel scenarios for the budget season and more time spent assessing the overall assumptions/inputs.
  • Reduced our month-end reporting cycle to 2 days with forecasting ready.
January 18, 2018

Great tool

Scott Clapton | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Budgeting and forecasting cycle reduced from months to weeks
  • Month end reporting has become significantly more detailed and allows for greater analysis (rather than just compilation of numbers)
Richard Danis | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • The amount of time for management budgeting models and freed up time to analyze the results and provide strategic feedback.
  • The budgeting and forecasting cycle by end users is greatly improved and ease to use which has reduced the administrative burden of budgeting.
  • The additional capabilities in Discovery including dashboard is a significant improvement to the way we report.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • When our company began using Adaptive for reporting needs, we were able to generate detailed P&Ls for over 100 sites in a matter of minutes, versus the days it used to take us to produce this level of reporting.
  • Our management and board reports used to take weeks to build and print. We are now able to update our monthly package in just an hour or two.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
  • Positive impact as it has saved finance hundreds of hours of unnecessary work spinning budgets in excel.
  • Positive impact because it allows us to perform a rolling forecast and avoids the yearly budget cycle. We always know where we are at 12 months from now. Everyone knows their targets and can plan ahead with confidence.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
  • Creation of the board book and slides have gone from 4 hours to 15 minutes with Adaptive OfficeConnect. The team can make updates to the materials quickly as the CFO and leadership look at the numbers and want to tweak the forecast.
  • Accuracy and trust in the budget and forecast model has gone up significantly. Many formula errors were found in prior budgets as they were loaded into Adaptive for historical purposes. With Adaptive, leadership trusts that amounts are not missing from sums, that drivers are consistent across the organization, and how numbers are derived are transparent through the "Explore Cell" function.
  • The finance team is able to quickly review the actuals versus budget at each month-end and business users are able to access the month-end reports themselves. This self-service aspect allows the business owners more transparency and more accountability for their numbers.
November 10, 2017

Adaptive Suite Review

Score 8 out of 10
Vetted Review
Verified User
Incentivized
  • Positive - The solution provide us with a tool (other than excel) that we can use for budgeting and forecasting
  • Negative - we still use excel to validate the results generated by the solution. we haven't been able to build enough confidence in what the solution is providing us to 'cut the cord' from using excel to validate results. We'll get there but we haven't had the resources to dedicate to making the solution operate as it can (our issue not the solution)
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