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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
  • Forecasting (161)
    8.9
    89%
  • Long-term financial planning (156)
    8.9
    89%
  • Management reporting (166)
    8.7
    87%
  • Financial budgeting (166)
    8.6
    86%

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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Features

BI Standard Reporting

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

9.3
Avg 8.4

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 8.3

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 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

8.8
Avg 8.5

Consolidation and Close

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

8.1
Avg 8.2

Financial Reporting and Compliance

Financial statements and regulatory filings

8.6
Avg 8.5

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

7.9
Avg 8.1

Integration

Ability to integrate with external applications.

8.5
Avg 8.4
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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 currently use Workday Adaptive Planning.

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 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 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 Journal entries and reports 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

(315)

Attribute Ratings

Reviews

(1-25 of 195)
Companies can't remove reviews or game the system. Here's why
Gajendra Kumar Gangwar | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We were capable to onboard departmental budgets accessible to users on the cloud instead of using the excel sheets. We able to extend our vision and helped the account managers to keep them updated, save time and use the budget with less manual efforts. It also helped to manage the spending and project the budget.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Workday adaptive planning helps manage business of all sizes by providing analytical insights, forecasts and reports that help take business decisions with ease. It does not depend on shifting business needs or use of legacy software's and provides help in complex planning. One can track EBITA, growth, performance and other key performance metrics and is easy to integrate with CRM, ERP and BI solutions.
Brian Goldrick | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Workday Adaptive Planning is being used by our entire company. The admins of the system are on the financial planning and analysis team. Each budget owner goes in to fill out their department's budget first, which is then reviewed by the FP&A team/CFO and there are typically three iterations of going back and forth on the requested options. This is way better than how we previously budgeted, which was on an Excel spreadsheet.
Score 6 out of 10
Vetted Review
Verified User
Incentivized
I use Workday Adaptive Planning to help understand our spend across the company by GL code as reported via Netsute. Though not perfect, the tool allows me to segregate this spend and extract insights by comparing against time, Dept. and other variables. This is best done by extracting via Excel and manipulating the data there.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
Workday is used by our entire company to manage and handle all aspects of Human Resources, Budgeting, Individual Goals, Training, and keeping track of each individual learning and courses they have taken. From an HR management standpoint, it is the backbone of our company.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Adaptive Planning is a scalable FP&A tool that allows the company to make adjustments to budgets and forecasts with speed and efficiency. Instead of creating numerous excel files, Adaptive Planning has live cases of forecasts, budgets, and actuals. It is sheet based like Excel, but you can also use to plan all of your financial statements.
Score 8 out of 10
Vetted Review
Verified User
We use Workday Adaptive Planning for budget and forecast planning, reporting (utilizing both web and office connect excel reports), and analytics. The system is primarily used by finance now, until we role it out to other departments in our business; which we’ve already begun to do. With Workday Adaptive Planning we are able to compile large amounts of data from the bottoms up but also have the flexibility of modeling at a high level. The system is versatile and can be used for not only financials, but headcount, and performance data as well.
December 18, 2022

Forecasting made easy

Manuel Lora Fernández | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Adaptive is being used across a department within one of our Divisions. Adaptive allows us to prepare and project our monthly Forecast and annual Budget. The Adaptive built-in reports are key for our department to analyse the evolution of our forecast and the comparison with our budget. Furthermore it gives you a tool to control the projection of our intercompany recharges.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
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.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Workday Adaptive Planning is used for Financial Planning and Reporting activities. Workday Adaptive Planning is being used across the whole organization . Every cost center manager prepares an annual plan within Adaptive Planning.The FP&A team is the primary editor of information, but read-only information is widely consumed across the org. It helps in dynamic planning through collaboration across the team during planning. Adaptive Planning is also valuable for forecasting.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We have multiple units that need to be budgeted on an annual basis. Each of these entities is responsible for their own budgets using some assumptions driven by corporate. At the end of the process, it all has to be pulled together. Previously, using Excel, this was at least a full day process, with similar turnaround times every time something was changed at the base level. Now that process takes minutes.
August 01, 2022

Acquire Adaptive!

Martin Davila | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
In my organization, Adaptive Insights is used by managers only and some other workers at the second level. The only issue we currently have is that the data is uploaded manually, therefore, the other users don’t have the information updated real time.
Score 4 out of 10
Vetted Review
ResellerIncentivized
Workday is a wonderful product that is very intuitive for the end user and for core HCM. Adaptive, Workforce Planning, Recruiting is where Workday falls down. What it does, and it does it well, is truly capacity planning, top-down, and not true Strategic Workforce Planning as described by the ISO standard or those organizations who excel at it. It can be modified to do those things with the use of a data lake and additional fulfillment modeling code. However, it still would struggle to fully integrate procurement (contingent labor and SOW labor), Industry X.O, Future Workforce, and external econometric data into the models.
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Adaptive Insights is being used primarily as a shared sales forecast tool for one of our Sales Categories. The outside sales team input sales numbers directly and then we use that data to generate a monthly sales forecast. We also update actual sales information in Adaptive and report out based on actual-versus-budget/forecast.
June 09, 2022

Great Product

Juljan Hebibasi | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Adaptive Planning is a superior product. It has enabled greater and more detailed financial planning with significantly less work to do so. It has also reduced the time required to prepare the annual budget. A challenge for the operations staff was completing a budget with a system that is one size fits all. Adaptive allows me to build department-specific models driven by department KPIs. Operations now update KPIs which are mapped to the appropriate revenue and expense accounts. Office Connect is remarkable. We can update reports and data in excel with current GL totals by simply hitting refresh. The implementation was well done with time left over in the project to allow me to build my own models and get feedback from the implementation team. Moving forward, all modeling we did in excel will be done through Adaptive. It is our primary tool for day-to-day analysis.
January 09, 2022

Finance

Fidel Botchway | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Incentivized
I use Workday Adaptive Planning to track the budget and account for business expenses. From the time I started using Workday Adaptive Planning, I have become efficient at managing expenses in my team. Today we do not need to depend on accountants to provide department managers with monthly expense information for analysis and management [discussion].
Score 8 out of 10
Vetted Review
Verified User
Incentivized
We currently use [Workday Adapting Planning] as our sole planning tool in FP&A. We have all our budgeting and forecasting in [Workday Adapting Planning]. We partner with other departments to get their insights for the forecast, but we are the only group that actually uses the tool.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
I currently work as an implementer of Workday Adaptive Planning for our clients. I see Workday Adaptive Planning being used by teams in order to improve their budgeting and planning processes. Many of my clients come from an Excel format for their planning process but are implementing Workday Adaptive Planning to automate many of the manual processes that currently have to happen in their Excel modeling. Adaptive is also used for its robust reporting abilities! Many clients that we work with are using Workday as their ERP so they connect the two systems through the Power of One to get real-time actuals data from the ERP into Workday Adaptive Planning.
Score 9 out of 10
Vetted Review
Verified User
Incentivized
We had Workday Adaptive Planning due to the problems we were having with the company's financial performance, which evoked the manual planning management that we had been doing, which was less effective and more costly.
James Egan | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Workday is used by OVO across the whole organisation to silo all of the relevant HR information for each and every employee. It is a centralised hub that allows a user to be able to log in at their pleasure and view any and all important documents pertaining to their employment.
Score 10 out of 10
Vetted Review
Verified User
Incentivized
We purchased Adaptive Insights three months ago and are currently still in the implementation phase. We have our PnL currently up and running but it is our intention to build a full three statement model in Adaptive. The very intuitive interface allowed us to progress quickly with the implementation. At this moment all of our users are from the local finance teams but as we progress with the roll-out of our functional budgeting we will give other departments viewing and reporting access as well.
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