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Adaptive Insights is a timesaver
January 21, 2020

Adaptive Insights is a timesaver

Anonymous | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Adaptive Insights, a Workday company

We currently use Adaptive Insights in the finance department, utilizing its capabilities for financial forecasting. We use it for a full P&L, balance sheet and cash flow solution, and use it for all financial reporting when it comes to forecasted numbers. It makes our department much more malleable and quicker, able to turn data around in hours as opposed to the days it might have taken in the past.
  • Full solution to replace Excel in your planning instance.
  • Very versatile, you can suit it to your business needs very well. The sky is the limit.
  • Because it is so open and versatile, sometimes you can get lost on what you are trying to accomplish. There are not as many templates as some might want.
  • It can be difficult to model solutions that aren't necessarily calendar based, but might be time based. Month1, Month2, etc. as opposed to Jan 2020, Feb 2020, etc.
  • The positive impact is in time. It has greatly reduced the time it takes to turn around data, sending productivity rates soaring.
  • Scenario and financial statement reporting has greatly contributed to business decisions that have affected the bottom line.
Adaptive Insights revolutionized our financial reporting and board meeting preparation. Whereas before it might take us 7-10 days to prepare for a board meeting, now it takes less than a day. Now we spend more time analyzing and preparing data for decision makers as opposed to logistical time spent loading data into spreadsheets.

The only difficulty we have had with Adaptive is when we wanted to model something with cohorts as opposed to a monthly calendar. That is, Month 1, Month 2, Month 3 as opposed to Jan 2020, Feb 2020, etc. We were able to come up with a solution that has worked for quite a while now, but it took a lot of trial and error.

Workday Adaptive Planning Feature Ratings

9.6
Long-term financial planning
10
Financial budgeting
10
Forecasting
10
Scenario modeling
10
Management reporting
8
9.4
Financial data consolidation
9
Multi-currency management
Not Rated
Intercompany Eliminations
9
Minority Ownership
9
Local and consolidated reporting
10
Detailed Audit Trails
10
9.6
Financial Statement Reporting
10
Management Reporting
9
Excel-based Reporting
10
Automated board and financial reporting
10
XBRL support for regulatory filing
9
10.0
Personalized dashboards
10
Color-coded scorecards
10
KPIs
10
Cost and profitability analysis
10
Key Performance Indicator setting
10
Benchmarking with external data
10
10.0
Flat file integration
10
Excel data integration
10
Direct links to 3rd-party data sources
10
BI Standard Reporting ()
Not Rated
Ad-hoc Reporting ()
Not Rated
Report Output and Scheduling ()
Not Rated
Data Discovery and Visualization ()
Not Rated
Access Control and Security ()
Not Rated
Mobile Capabilities ()
Not Rated