TrustRadius
Adaptive Insights to the rescue
https://www.trustradius.com/corporate-performance-management-cpmAdaptive Insights, a Workday companyUnspecified8.6220101
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Updated November 14, 2018

Adaptive Insights to the rescue

Score 10 out of 101
Vetted Review
Verified User
Review Source

Overall Satisfaction with Adaptive Insights

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.
  • It is one database, so there is no pulling together or consolidating of data
  • It allows for structural changes to be made such that if a corporate decision is made that impacts everyone, or even a segment of the units, the change can easily be made in minutes
  • At the end of the process, often times we will want to dig into the numbers, and possibly change some, based on how they all roll up. Previously, this was an Excel nightmare. Now it is instant and seamless.
  • Discovery provides an "at your fingertips" display of every KPI that you can dream up, as well as trends, breakdowns, and projections that are driving or being driven by those indicators.
  • I would like to see the ability to completely turn off all calculations for a budget version, such that it is locked down, and would require an act of Congress to change a number. We have had a few cases where something was inadvertently changed AFTER the budget was finalized.
  • The ability to back-up an entire budget would be helpful (see the comment above).
  • 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
We have not begun to roll out the Dashboards yet, but look forward to doing so. Ad-hoc reporting and what-if analysis now happens as quickly as a request is put in, which often results in a more detailed review of the data prior to release. Reporting timelines have decreased, allowing us more time for quality reviews, and less time for package preparation.
Once we rolled out the budget process, I moved to getting the results into the system so that we could have real-time analysis. Currently, I am getting data in manually, which significantly reduces our ability to use Adaptive for real-time analytics. Once we get the automated data flow working between our various software vendors, we anticipate having significantly more time available for strategic analysis.
My previous experience was with Hyperion Essbase , a number of years ago. Comparing the products at the time I used them, I would probably rate Essbase slightly higher in terms or how powerful it was. Having said that, the upfront cost was likely tenfold for Essbase. Even if the prices were closer, I would have to say that there is very little that Essbase could do that Adaptive cannot.
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.

Adaptive Insights, a Workday company Feature Ratings

Long-term financial planning
8
Financial budgeting
10
Forecasting
8
Scenario modeling
8
Management reporting
9
Financial data consolidation
10
Intercompany Eliminations
10
Local and consolidated reporting
10
Detailed Audit Trails
7
Financial Statement Reporting
9
Management Reporting
10
Excel-based Reporting
10
Automated board and financial reporting
10
Personalized dashboards
10
Color-coded scorecards
9
KPIs
10
Cost and profitability analysis
9
Key Performance Indicator setting
8
Benchmarking with external data
9
Flat file integration
9
Excel data integration
9
Direct links to 3rd-party data sources
7

Using Adaptive Insights

For a standard user, the product is very easy to follow. From an implementation or administrative perspective, due to the products flexibility, it is, or at least can be, very complicated to set up. Thankfully, the support staff that is available to assist (or to actually do the work) is top shelf.