Reshaping The Financial Planning Landscape
Brandon Gappa | TrustRadius Reviewer
December 30, 2019

Reshaping The Financial Planning Landscape

Score 10 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Adaptive Insights, a Workday company

We are working towards Adaptive Insights being the single source of truth for Financial Reporting within the Comcast Technology Solutions by combining Business Data to drive forecasting. We were the first group within Comcast to implement Adaptive. There are other instances that are currently being launched as well.

Right now it is primarily the FP&A team that makes changes, and for revenue, for we have business operations partners that input their customer revenue forecast.

We previously were using Essbase to do all of our planning, but the CTS group operates quite differently compared to the rest of Comcast. Imagine operating a startup inside a cable box. Adaptive gives us the flexibility to make detailed changes to our business units and accounts quickly and have immediate reporting results. As opposed to keeping track of detailed Essbase strings, making changes and then waiting every two hours to make sure they were made correctly.
  • Live Reporting - The ability to constantly see your change impacts, using the Audit Trail to identify the users making the change, and transaction details for actual significantly freed up valuable bandwidth to spend more time on forecast accuracy.
  • Flexibility to change Business Structure and have those changes flow through historically without any effort. Used to have various Xref files everywhere.
  • Corporate Consolidation - Being able to have multiple Organizations roll up into a group that is not managed by us. We still need to use export into Essbase for our HQ partners until Adaptive can fully integrate the two seamlessly.
  • Web Reporting can be inflexible at times, especially when it comes to notes. Office Connect helps to fill that gap, but we would rather use web reporting when we can.
  • The biggest return on investment is the time the analysts and users have gained. We have never been so productive as a team.
  • Adaptive was the perfect solution to help manage our Customer Billing, we had recently transitioned billing systems and keeping track of old and new IDs across 10+ excel files was a very manual and inaccurate process. Dimension and Account mappings fixed all of that.
We looked at essentially three different products. Essbase (Current), Adaptive Insights, and Anaplan. We knew that Essbase wasn't the right solution for our business with historical experience, it was too difficult to forecast at the detailed business unit, department, and account-level accurately.

We ultimately chose Adaptive over Anaplan because of its UI is much simpler for new users. Anaplan seemed like it had the ability to be more flexible, but at the cost of User Experience. It had a larger learning curve and was more technical from a planning standpoint. We did not want to feel self-reliant on consultants constantly. With Adaptive we didn't have that fear. We could pick it up easier and starting using its pre-built structure right away. I think we made the right choice, I was the only analyst on the team at the time of integration and I was able as a new user to be completely independent on the day to day tasks. We only needed help from our Consultant partners for larger projects, and even then I was able to reverse engineers a lot of it to fit our other needs.
I will never work for an FP&A Organization again if they do not have Adaptive Insights. It's that great of a product. Previously an FP&A Analyst had to be graded based on how quickly they could operate Microsoft Office, and how well they understood how their business works through manual processes. Now with so much of time being taken care of by Adaptive we can really shine and build better relationships with the business and dig deeper into Business questions.

This results in way more value being added to our Partners. Gone are the days of breaking links and passing around multiple templates for input from the business, they know have live information right after it becomes available.

Traning fresh analysts in Adaptive is a much simpler process than going through old excel templates that constantly were changing for business needs. Not to mention if you make a change and want to compare to historical reporting you would need to go and update a file that nobody has touched in months/years.

Workday Adaptive Planning Feature Ratings

Long-term financial planning
8
Financial budgeting
9
Forecasting
10
Scenario modeling
7
Management reporting
9
Financial data consolidation
7
Journal entries and reports
7
Multi-currency management
7
Intercompany Eliminations
10
Minority Ownership
10
Local and consolidated reporting
9
Detailed Audit Trails
10
Financial Statement Reporting
7
Management Reporting
8
Excel-based Reporting
9
Automated board and financial reporting
5
XBRL support for regulatory filing
8
Personalized dashboards
6
Color-coded scorecards
6
KPIs
6
Cost and profitability analysis
7
Key Performance Indicator setting
7
Benchmarking with external data
7
Flat file integration
9
Excel data integration
9
Direct links to 3rd-party data sources
6