Workday Adaptive Planning

Workday Adaptive Planning

Customer Verified
Top Rated
Score 8.1 out of 10
Top Rated
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

Great Product

9 out of 10
June 09, 2022
Adaptive Insights is a superior product. It has enabled greater and more detailed financial planning with significantly less work to do …
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How Workday Adaptive Planning Differs From Its Competitors

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 …
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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 …
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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.
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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 …
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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 …
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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.
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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.
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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 …
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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.
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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 …
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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.
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Role Impact

Yes, the import of the data to the software is much faster than other programs i used to work with leaving more time for strategic analysis
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Reporting

Adaptive has enabled reporting and analysis for my team. It has been beneficial to see actuals piped in to compare against different versions. Auditing features are helpful to dig deeper into the details, whether the variance was coming from a certain subsidiary or a sub-department.
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Role Impact

The budget versus actuals template has reduced the time that I could be using to do formatting. Moreover, little features such time stamp makes version control much easier.
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Reporting

We now have a place where executives down to project managers can go to get real-time progress reporting. Our board reporting is automated through Office Connect. And the Waterfall Reports in Discovery are the best I have seen, and also super easy to create.
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Role Impact

My role has changed from what felt like an IT support role to a contributing member. I now do what FP&A managers should do, help business managers make educated and sound decisions that benefit the organization.
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Reporting

Adaptive Planning's model features makes rolling forecasting incredibly easy and fast. I am working to implement reporting outputs that would include more variance analysis.
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Reporting

The reporting cycle is much quicker with Adaptive. We make very few changes to the reports outside of Adaptive.
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Role Impact

We trust the formulas and how the data flows in the software so we spend less time double checking to make sure formulas are working and more time analyzing the numbers.
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Reporting

We use the Reports module in Adaptive Planning every week, if not every day. It's helpful to quickly refresh reports and allows others at our company to run self-service reports. This has been invaluable since it frees up FP&A so we can perform more analysis.

The OfficeConnect for Excel Add-On has …

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Role Impact

Adaptive Insights has helped my role because of the quality information it provides. I believe the reports and content on Adaptive Insights have been reviewed extensively before being published, so it's unlike searching Google and being unsure of the validity of a found article.
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Reporting

Adaptive Insights has improved our data quality and accuracy, shortened our reporting cycle, and has allowed us to create many management reports that we haven't been able to produce.
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Role Impact

Adaptive Insights gives me more time to spend on strategic analysis and less time on producing re-occurring reports.
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Reporting

- Adaptive has allowed automated actual vs budget reports are now circulated throughout the budget owners of our organisation. This has freed up a lot of time for increased business partnering and analysis.

- Variance analyses are now available at the click of a button and do not have to be …
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Role Impact

As a key business partner to a global organisation, I have found that Adaptive has enabled me to fully immerse myself in the aspect of my job that I love the most - talking to people and truly helping them make decisions.

I no longer spend hours worrying about Excel version control or formulas …
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Reporting

The accuracy of financial data and consistency of measurement of KPI's has improved. Our accuracy and timeliness of variance reporting have improved.We have faster reporting and consolidation of actuals and budgets/forecasts. Gives us improved capacity to incorporate additional reporting lines …
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Role Impact

Adaptive Insights has freed up time that was previously spent checking the accuracy of numbers and has allowed more time to be spent on understanding and trying to improve the numbers. Overall as a result of implementing Adaptive Insights, we now spend less time on reporting and more time …
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Reporting

Improved accuracy - drill down functionality allows for quick and easy comparison between budgeted and actual spend - is key, as are a reduction in man hours in the time it takes to produce the reports. Scenario modelling is also extremely quick and easy using the many different versions in …
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Role Impact

My role was very much focused upon producing reports when I joined the team and Adaptive has definitely seen an improvement in my workload. With the system saving a lot of time when it comes to rolling forward and exporting the reports month to month, I've been able to spend a lot more time not …
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Reporting

Adaptive captures data in lower level and various multiple variables such as accounts, dimensions, level, time, scenario, which provides greater transparency and enables user to identify the anomaly. It improves the data quality and accuracy and also enables faster reporting cycle.
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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 …
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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.
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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
  • Forecasting (156)
    9.4
    94%
  • Management reporting (161)
    9.3
    93%
  • Financial budgeting (161)
    9.1
    91%
  • Long-term financial planning (151)
    8.9
    89%

Reviewer Pros & Cons

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Video Reviews

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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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PlanGuru is budgeting, forecasting and financial analytics software for SMB's, Nonprofits and the Accountants/ Advisors that work with them.

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Product Demos

Active Planning: An Alternative to Static Planning
01:38
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Features

BI Standard Reporting

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

9.3Avg 8.1

Ad-hoc Reporting

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

8Avg 8.4

Report Output and Scheduling

Ability to schedule and manager report output.

8Avg 8.3

Data Discovery and Visualization

Data Discovery and Visualization is the analysis of multiple data sources in a search for pattern and outliers and the ability to represent the data visually.

7.7Avg 7.6

Access Control and Security

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

9Avg 8.8

Mobile Capabilities

Support for mobile devices like smartphones and tablets.

8.5Avg 7.8

Budgeting, Planning, and Forecasting

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

9Avg 8.5

Consolidation and Close

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

8.2Avg 8.3

Financial Reporting and Compliance

Financial statements and regulatory filings

8.7Avg 8.5

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

8.5Avg 8.0

Integration

Ability to integrate with external applications

8.7Avg 8.5
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Product Details

What is Workday Adaptive Planning?

Workday Adaptive Planning aims to power a new generation of business planning, and drive business agility in a fast-moving world. The Workday Adaptive Planning Business Planning Cloud offers modeling capabilities for organizations of any size, and helps users to collaborate, gain insights, and make smarter decisions faster.

The vendor states that more than 3,800 organizations across 50-plus countries use Workday Adaptive Planning, and boasting its ease of use, they state that Workday Adaptive Planning ranks #1 in customer satisfaction in independent industry surveys from leading market analysts such as Gartner, Forrester, and BPM Partners.

According to the vendor, Adaptive Planning helps mid-size & enterprise organizations’ leaders better manage their business:
  • Adaptive Planning enables organizations to break free from static planning, to active planning
  • Active planning is collaborative, comprehensive, and continuous
  • Active planning requires a solution that’s easy, powerful, and fast
Capabilities include:
  • Automated Budgeting and Forecasting to increase productivity
  • Self-Service Financial Reporting allowing users to create, share and personalize reports
  • Integration with Salesforce.com, NetSuite, Intacct, & MS Dynamics

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 Use sparklines to visualize trends and make adjustments visuallyScreenshot of Built-in audit trail and cell explorer will let you see the source and history of any metric, assumption or formula

Workday Adaptive Planning Video

Active Planning: An Alternative to Static Planning

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 Forecasting highest, with a score of 9.4.

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

(1-25 of 175)
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Score 10 out of 10
Vetted Review
Verified User
  • 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.
Score 10 out of 10
Vetted Review
Verified User
  • Budgeting timeline has been reduced significantly. We have achieved this through the ability to more efficiently update the model, as well as the instantaneous ability to roll the various units together during and after reviews.
  • Month end reporting has been streamlines, such that we can now push out reports and graphs instantly, rather than having to run them individually, and then re-create graphs and charts
Brian Goldrick | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
  • This allows us to be more future focused
  • The reporting using Microsoft Excel is useful at times but also breaks regularly due to formula errors and updated CoA on the G/L.
  • Allows more timely feedback through the system to the users
Score 8 out of 10
Vetted Review
Verified User
  • Our forecast is more accurate and more flexible. We eliminated our massive excel workbook that had many issues.
  • Version control is no longer an issue.
  • We saved money in human resources as the model helps automate many processes.
  • We are connected to our ERP and CRM, which saves time and makes our model more accurate.
Score 10 out of 10
Vetted Review
Verified User
  • Automates manual budgeting and planning processes, saving time for the team to work on other tasks.
  • Has allowed clients to perform more complex planning models
  • We have seen an increased need for additional roles in the organization to help own the maintenance of Workday Adaptive Planning.
Score 9 out of 10
Vetted Review
Verified User
  • This tool helped us to improve our input and output budgets due to its high usefulness in business planning, giving importance to what is relevant, and identifying the main risk factors of the investment.
  • Through its use, the company was able to improve its balance sheets at the end of the month. In the past, more resources were directed to other areas where they were not so necessary and this ended up in losses. That is a situation that no longer occurs with Workday Adaptive Planning.
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