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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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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 7.7

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 8.3

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

(26-50 of 203)
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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
January 09, 2022

Finance

Fidel Botchway | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Compassion as a Non Profit provides funds to partners for Child Support. Workday Adaptive Planning can help the Partner to Provide the expense information monthly so their fund allocation can be approved for disbursement. This way the Field Officers do not have to collect the data in excel for review and approval before loading it into the current system before disbursement is done.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Overall I really like [Workday] Adaptive Planning, and I would recommend it. I love the flexibility of the tool, and it's relatively intuitive. I think it is easier to learn than most planning tools which enables you to implement quicker and ramp new users faster. It's relatively easy to add new models or forecasts to the instance, which is nice for growing companies. I have noticed the instance has had some performance degradation as we've grown, so that would be one thing that has been frustrating. Overall I think it's a great tool, though, and I would purchase it again.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Businesses that are in a pre-IPO or IPO stage. Workday Adaptive Planning is a great add on for any team that is already using Workday Financials or Workday HCM. Teams that have a complex planning process that is very manual in Excel are great candidates for Workday Adaptive Planning.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Workday Adaptive Planning distributes the resources of medium and large companies so that they can be more usable. It is based on business planning through data analysis to help people expand their knowledge and sharpen the effectiveness of scheduled tasks.
James Egan | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
I would say that Workday is great for day to day use by employees as it is a centralised hub where they can access everything that they may of before needed to contact HR for. It may not be suitable for smaller businesses as they may not need it's powerful functionality.
Krishna Singh | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Customisation of web pages and products - the Robust option enables us to manage many iterations, which we can then compare across multiple platforms with an ability to grow and differentiate, resulting in an expanded feature set of future scenarios.
Computer processing speed - With the Elastic Hypercube technology that was implemented a few years back, we can watch changes flow through a complex web of formulas and arrive at an answer within seconds.
continuous audit trail - One of the primary advantages of using Change Tracker is the real accountability that is displayed when seeing who has modified which files, which allows for an easy internal controls and auditing.
Marvin Hartsfield | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Workday Adaptive Planning is extremely well suited to the typical finance budget, forecast, actual reporting cycle and makes it easy to do every monthly forecast at the same level of detail as an annual plan. It takes a lot of pain out of the reconciliation of headcount variances and that type of thing.
Tony Phan | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
I would absolutely recommend this to any of my colleagues. In fact, many of them are already using it. It is making HR related things in your organization so easy. From the stage that you are applying for the job (through Workday) to the day that you are onboarding and Workday will keep helping you throughout your journey in the organization that is using it.
Warren Sampson | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Workday Adaptive Planning is an extremely flexible foundation to model almost anything. We've found ways to build detailed models that give the planners and management at the company valuable insights into how each department is planning for the future, thus providing management the information they need to shift course if necessary. Generally its reporting is robust but it's not a substitute for Business Intelligence tool.
Score 10 out of 10
Vetted Review
Verified User
I have been a user, then an admin, and then implementor of Workday Adaptive Planning. Some people are still stuck in an Excel mindset and can find it cumbersome in the beginning, but once they grasp the logic of Workday Adaptive Planning, they start to appreciate the ease of adding new data, adding new dimensions to slice and dice data better, and generating reports and dashboards super fast. It will make headcount and OPEX variance analysis way easier. You can create all kinds of dashboards for all kinds of audiences (non-finance people, budget owners, board, execs, HR, accounting, etc.). You can even set up separate instances for advanced revenue forecasting and advanced sales commissions planning. Integration with Workday HCM makes the whole headcount recon process a breeze (from a budgeted request to a hired employee). I'd conclude by saying that to get optimal results, advanced training of users and admins is the key.
Score 10 out of 10
Vetted Review
Verified User
A great budgeting tool. Once everything is up and running we really only need to add in any incremental changes from the previous year. The reporting tool Office Connect is the best I have ever used. Less appropriate for multi-currency, multi-entity organizations and there needs to be an easier way to receive user inputs.
March 11, 2021

Great planning tool!

Score 9 out of 10
Vetted Review
Verified User
Adaptive is a fantastic tool for any company still in spreadsheets. The transition to the cloud is made easy by Adaptive and the time to value is relatively low. The real value becomes apparent once the foundational model is set and you build incremental, linked models in the cloud. Real-time updates will impact various parts of your financial forecast and the forecast cycle is greatly shortened. Adaptive is not as suited for big data models at this time but is making progress in supporting this type of forecasting.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
It's very well suited for almost any company - because it's like Excel you can create any model you like - the only caveat is you should know what you want very clearly - it's very dynamic.
The only place I would say it need work is the restatement of actuals - it changes any locked version using actuals as the overlay.
Dmitry Zaichenko, MBA | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Workday Adaptive Planning is great for both top down and bottoms up planning. We are also able to set the time level granularity as well as GL account level to which we plan and roll up actuals for comparison. We use Workday Adaptive Planning for headcount, P&L, Cash Flow, BS and Dashboards along with all monthly, quarterly and yearly reporting.
October 13, 2020

Adaptive Insights Review

Score 9 out of 10
Vetted Review
Verified User
Incentivized
Adaptive is great if you have been using Excel models as a small company, and you're looking for a software to help build financial models that can more easily grow with your company. It might not be the best option if you are an extremely large corporation as we've discovered that it can slow down substantially if sheets have too many rows. For example, if you are a company with several thousand employees, I don't think Adaptive is currently robust enough to support all of your data and planning.
February 07, 2020

Adaptive Insights

Jennifer Bradshaw | TrustRadius Reviewer
Score 5 out of 10
Vetted Review
Verified User
Incentivized
I like Adaptive Insights, a workday company as a budgeting and forecasting tool. I think, for the most part, the front-end interface is relatively user-friendly and easy to understand. Reporting seems to take some "advanced" user experience and seems complicated to use as an average day-to-day user. I find that if we need reports created or modified, we end up having to rely on our Adaptive expert.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
I've been most impressed with the ability to customize structures and hierarchies, centrally plan drivers and formulas, make user edits, track progress, and distribute results. I'm a big fan of the built-in customized reporting both in the cloud-based tool and in Excel and PowerPoint. Security can be a little cumbersome especially when there are sensitive personnel data involved.
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