Adaptive Insights offers incredible ROI
Amanda Hutchins | TrustRadius Reviewer
October 13, 2015

Adaptive Insights offers incredible ROI

Score 10 out of 10
Vetted Review
Verified User
Review Source

Modules Used

  • Planning & Office Connect

Overall Satisfaction with Adaptive Insights

Adaptive is being used by our organization primarily as a planning and forecasting tool. Prior to an acquisition we were using the Consolidation functionality as well and we still use it to compare budgets to actuals and to look at spending trends. We do an Annual Operating Plan, quarterly forecasts, and monthly forecast updates, all in Adaptive. We are also using Office Connect for monthly and budget reporting.
  • Adaptive is extremely user friendly. We implemented the first phase in just six weeks and rolled it out to budget managers with a one hour webinar. People took to it immediately and needed very little support from finance to complete their budgets.
  • Adaptive is very flexible. My company was recently acquired, so there have been a huge number of changes in the ways we look at our financials under the guidance of the new company. Adaptive has eased the transition considerably because we were able to adjust the reporting and rollups very quickly, while still maintaining the detailed assumptions underlying the plan.
  • One of my favorite things about Adaptive is that finance can maintain it ourselves. The logic of the system is very intuitive, and with the cloud-based architecture, we don't need IT support to make changes to the functionality of the system.
  • Our forecasting and budgeting has become far more accurate with this system. There are less errors, as all of the data is housed in one place, and we don't have the version control issues we did with Excel.
  • For the most part, when there have been updates to Adaptive, we haven't had issues. But there were a few bugs in the last updates that required work-around solutions. I know this is normal with software, but I got spoiled with Adaptive not having problems before.
  • Some of the back end logic, while generally easy to use and figure out, can be cumbersome to update. There are a lot of manual tweaks that have to happen - I wish that some of the items could be updated with load files.
  • We have a working model that is serving us well, but I wish Adaptive had better training to help us take the system to the next level.
I have used Hyperion, Prophix, and an internally-developed Access based solution for budgeting, along with Excel. I honestly never want to be in a non-Adaptive environment again. It has most of the flexibility and ease of Excel, without the version control and linking issues that come along with it. Since it's hosted, budget managers can log in easily to update their budgets and see their monthly financial results. The Finance team can maintain the system internally, without having to request assistance from IT. And with Office Connect, creating and updating reports is so fast and easy, it saves so much time we used to spend manually updating and linking new files.
I think that Adaptive is well suited in smaller environments, or deployed in ways that individual instances of Adaptive serve a specific function. I think that the structure can get too complicated and that it can affect performance if you are trying to do too many things with a single model. However, maintaining multiple instances is a good option as they can all feed into each other when you need to consolidate.

Workday Adaptive Planning Feature Ratings

Long-term financial planning
6
Financial budgeting
10
Forecasting
10
Scenario modeling
8
Management reporting
10
Financial data consolidation
10
Journal entries and reports
10
Multi-currency management
6
Intercompany Eliminations
9
Minority Ownership
Not Rated
Local and consolidated reporting
10
Detailed Audit Trails
10
Financial Statement Reporting
10
Management Reporting
10
Excel-based Reporting
10
Automated board and financial reporting
10
XBRL support for regulatory filing
Not Rated
Personalized dashboards
10
Color-coded scorecards
Not Rated
KPIs
Not Rated
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
Flat file integration
5
Excel data integration
5
Direct links to 3rd-party data sources
Not Rated