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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 (169)
    8.8
    88%
  • Forecasting (164)
    8.5
    85%
  • Management reporting (169)
    8.3
    83%
  • Long-term financial planning (159)
    8.2
    82%

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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Features

BI Standard Reporting

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

9.3
Avg 8.3

Ad-hoc Reporting

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

8
Avg 8.4

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 7.8

Access Control and Security

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

9
Avg 8.8

Mobile Capabilities

Support for mobile devices like smartphones and tablets.

8.5
Avg 7.9

Budgeting, Planning, and Forecasting

These activities are designed to assist with both data-driven operational, short-term planning and strategic long term planning

8.5
Avg 8.4

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

8.4
Avg 8.3

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

7.5
Avg 8.1

Integration

Ability to integrate with external applications.

8.2
Avg 8.4
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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 Scenario modeling highest, with a score of 8.9.

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

(1-25 of 201)
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Score 10 out of 10
Vetted Review
Verified User
Workday Adaptive Planning is well suited for building plans from the bottom up and involving other departments within your business. You can set up processes that allow you to track from within the system, the progress of the departments and imputing the data that’s required. The system is less appropriate for static planning, as the system is suited to be used for active planning and forecasting.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
The seamless integration to the general ledger is really helpful in creating cost center and company level forecasts. The planning team loves the tie in to Excel for day-to-day use. Go live was seamless, as we were going live with a FINS-first implementation at the same time. We are using it every month to update the outlook, as well as for the annual budgeting cycle.Adaptive is the key component in our financial and company performance forecasting. We were coming off of homebuilt and manual planning tools, and the shift has made us a lot more responsive to the changing environment of the last 3 years. Executive team trusts the results, and is confident that we have the tools we need to provide insights.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Adaptive is much more versatile than most planning software, and in most ways better than Excel for planning and analytics. It is great and bringing together data from multiple sources, especially if on the Workday platform, and really allows your team to collaborate in real time without any issues unlike trying to work in Excel workbooks at the same time or needing an adminstrator to enter data for you. Power users can even update models and reports themselves and share with others. The flexibility of designing your own models is also great in allowing you to plan however granular you need and have different methods of planning for different business units but bring it all together consolidated.The reporting is the least useful feature. Yes, OfficeConnect gives you all the power of Excel and PowerPoint and is great if you can utilize it, but for now it only works on Windows when many businesses have shifted to Apple or Google platforms. Also, OfficeConnect is not fast or easy to use, like the web reports and web dashboards, which are great for quick ad-hoc reports but not great for presentation-level reports. This creates a huge disconnect in the quickness of analytics, if you want to run and show in depth analytics you'll need OfficeConnect due to the limited functionality and limited formula capabilites of Adaptive web reports which requires someone to build and maintain and refresh the OfficeConnect reports which is slow and not easily shared with other users.Also the planning functionality of the 3 sheet types have not been updated in years. Some new features or sheet types would be greatly appreciated.
Mark McConkie | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
It is very helpful for budgeting and reporting. I love how easy it is to automate reports and presentations. It can be more difficult to plan specific activities. It feels more high-level than activity-level. It shows totals rather than individual transactions (either past or future transactions).
Jack Kersjes | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized

Adaptive is well suited to present data (both financial and non-financial) in the form of financial statements, reports, budgets, forecasts, and dashboards to a distributed audience. That is, any data that can be accessed, and then summarized and presented for analytical and reporting purposes. The web-based platform allows for end-user access anywhere.

Where it is less appropriate, and often mistakenly so by those not directly involved in administering the product, is to try to use it as a replacement for an operational database and operational report writer. For example, in a SQL database, it would be better to write operating level reports directly in that database as SQL reports.

Score 9 out of 10
Vetted Review
Verified User
Incentivized
We found it very good for budget tracking, assigning budget and making sure we are within it. It works less well when you have multiple requirements within the same budget i.e. budget allocation management and new revenue incoming from a project in addition to revenue forecasting, these things should mesh together a bit better.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Adaptive Insights is well suited for many business sizes, including small companies to companies with billions of dollars in revenue. Its flexibility with customization and the various options is very attractive. The ability to have the data in real time is much appreciated. We are heavily reliant on allowing those authorized to run their own reports, eliminating the middle man.
Gajendra Kumar Gangwar | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
This is very easy to setup for new members, also very easy to understand and powerful to generate reports based on this we can recommend it. Performance and limitations sometimes creates problem and can lead us to wait for few times.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
It can be best suited in scenarios which require multi dimensional modelling and reporting and more simpler and granular metrics need to be tracked. It also helps assess various what if scenarios to evaluate scope of business opportunities and help stakeholders take business decisions. One can create plans aligned with various organizational and business unit goals by collaborating with all kinds of department and users in organization.
Brian Goldrick | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
I think the system has come a long way in the 4+ years we have used it and it continues to get better and better with each update that comes out. I think there are still some areas for improvement (reporting, locking down cells, etc.), but overall I would recommend this to colleagues.
Score 6 out of 10
Vetted Review
Verified User
Incentivized
Best suited if it is complementing NetSuite source data, not great as the sole platform for BI in spend searchable by specific variables. Also, this should be expected to be used as a data repository, not really to manipulate. For this, you will need outside tools. For small orgs, should be be fine, for larger remits, suggest looking at dedicated platforms.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Thanks to Workday our company now has one solid and robust HR package that governs all things HR in one platform in one cloud-based system. It's very easy to use and navigate and helps individual users all the way up to our top executives manage tasks related to their job easily and efficiently. It effectively helps all employees manage their goals quarterly and provides an excellent tool to receive and give feedback along with assisting managers in reviews of those individuals. From a company-wide perspective, it's been a great budgeting tool and has been extremely helpful with our long-term financial planning and analysis.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Whether you are headcount planning, expense planning, etc. Once the product is implemented, Adaptive Planning is powerful to use. Teammates can collaborate together in making adjustments to formulas and forecasts, and you can compare different versions/scenarios of different forecasts. It's also very easy to import sheets and dimensions as their templates are clear to use.
December 18, 2022

Forecasting made easy

Manuel Lora Fernández | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Easy to integrate with ERP such as SAP thanks to their API interface. Importing to Adaptive is smooth and easy to configure. Also when exporting to another application is needed, well suited interfaces can be built to fulfill any needs. After our migration to SAP, we tried to change our organisational e-structure and move some cost centers from a level folder to another. That causes a loss of historical data and until today I am not sure if there is a safe way to do something like that.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
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.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Adaptive is great for lining up multiple version (variance analysis) and a nice mix of structure and flexibility. We still maintain some more complex models outside of the system in Excel and application scripts like cohort models.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Adaptive Planning is user friendly and the screens are easy to navigate. It doesnt take much time or training to get started. Its ability to model and budget off KPIs and build department-specific budgets is very useful. It's relatively easy to add new models or forecasts to the instance. The workflow planning allows you to assign specific tasks to different users to keep track of your overall budgeting cycles. Version control is a big advantage compared to the excel sheet.
As the system grows, sometime the time to load and update model increases. There is room for improvement on customization of reports.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Anyplace where Excel is used as a primary budgeting tool, and there are multiple inputs/locations to that process, Adaptive will be able to make the process smoother. This is particularly the case when the units are spread out, and not on the same internal network. We have saved a ridiculous amount of time by using Adaptive.
Justin Ballesteros | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
I believe Adaptive Insights can be instrumental for any business looking to streamline their operations strategy with finance. Adaptive is an excellent system to implement if a company is looking to invest in the business and looking for a product to help plan and track the results. It's well suited for providing department results vs what if scenarios,able to handle complex modeled calculations, and equip Finance to partner with key stakeholders in the business in real-time. Their product is much less reliant on IT as traditional reporting systems since Finance will typically troubleshoot issues.
June 09, 2022

Great Product

Juljan Hebibasi | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Well Suited: 1. OfficeConnect is a game-changer in that it is a time-saver, allows for instant access to data for operations, and drives the greater analysis. 2. Ability to model and budget off KPIs and build department-specific budgets. 3. Ability to model multiple scenarios with relative ease. The ability to change an assumption enables quick analysis of multiple scenarios Less appropriate: 1. Because of the volume of models (user sheets), the ability to place models in folders based on the purpose or function would be helpful. That function does not exist so we have a long list of models and searching for the one we need is not efficient. 2. Better documentation and training related to advanced features in the system. We would like to enhance our modeling and make it more efficient but can't determine if what we want to be done can be done. 3. Allowing GL accounts to link to more models we are an improvement. There is a limit on how many models you can link to a GL account. Because we use Adaptive for all our modeling, we have reached the capacity and had to develop workarounds
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