A good tool for the experienced user.
Anonymous | TrustRadius Reviewer
December 10, 2019

A good tool for the experienced user.

Score 8 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Adaptive Insights, a Workday company

Adaptive Insights is used as a budgeting, forecasting, and financial statement tool for the Finance and Accounting group. The tool also supports senior leadership for tracking financials and targets that have been approved by management.
  • Adaptive Insights does a good job allowing the user to build in automatic calculations for forecasting. E.g. employee benefit cost by plan type chosen by employees.
  • Another beneficial feature of adaptive is the office connect feature that allows financials to be populated directly into a board deck.
  • It can be difficult to learn how to build the references needed to make sheets and versions connect.
  • The service can be slow to load at times. Many times I'm just waiting on the data to refresh before I can update the next step.
  • The largest benefit to having Adaptive so far has been the ability to build multiple budget versions with ease, including new information quickly. This reduces the amount of time it takes to make budgeting adjustments.
  • Management has found significant value in seeing the financial statements more readily, allowing decisions to be made more timely. The inclusion of actuals and forecast create a transparency of the true impact of a good or bad period with the business.
I wasn't fully involved in the decision to purchase Adaptive Insights, but there was consideration of using the NetSuite financial planning module instead of going with Adaptive. The largest benefits of using Adaptive Insights were the additional modeling features and the ability to bring in data from any system with relative ease.
Adaptive Insights is a useful tool once it is completely implemented and you have users in the system that know how it works. There is definitely a learning curve, but once that is hurdled, you can find many benefits to the system. A major user case for Adaptive Insights is when you need users/managers to see the up-to-date financials without giving them access to the financial system.

Workday Adaptive Planning Feature Ratings

Long-term financial planning
9
Financial budgeting
9
Forecasting
9
Scenario modeling
9
Management reporting
9
Financial data consolidation
9
Journal entries and reports
Not Rated
Multi-currency management
Not Rated
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
Not Rated
Detailed Audit Trails
Not Rated
Financial Statement Reporting
9
Management Reporting
9
Excel-based Reporting
9
Automated board and financial reporting
9
XBRL support for regulatory filing
Not Rated
Personalized dashboards
7
Color-coded scorecards
7
KPIs
8
Cost and profitability analysis
8
Key Performance Indicator setting
7
Benchmarking with external data
Not Rated
Flat file integration
9
Excel data integration
9
Direct links to 3rd-party data sources
9