Perfect for moving off Excel and into big-boy budgeting
February 29, 2016

Perfect for moving off Excel and into big-boy budgeting

David Dunkley | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with Adaptive Suite

We are using the Adaptive Suite as a budgeting tool for all the departments within our organization. We had been using Excel which worked back when we were a small company, but as we grew, we realized Excel could not scale with us. The Adaptive Suite gave access to the budget owners wherever they were located and created an audited single source of truth.

Pros

  • Accessibility. The tool is accessible to all of our budget owners around the world because it is on the cloud.
  • Easy enough to use. Once we built out the infrastructure, the users had no problems going in and putting in their budgets.
  • Version! I love being able to make as many versions of the budget as I need with a push of the button.

Cons

  • Currencies. I have departments that have individuals from different parts of the world that budget their part or at least their compensation in a different currency. I had to create separate departments for those individuals because you could have multiple currencies in the same department.
  • At the end of the day I need to produce an income statement the way board members look at financials. Meaning grouping things into Sales and Marketing, R&D, and G&A. It should be easier for existing functionality to have an IS template that builds out that way without having to go and custom create it and then maintain that custom report with every change.
  • There are some complexities in the implementation that are probably unavoidable while building the infrastructure. A good implementation team helps you get through it though. Problem is however, in the future, if you make any significant changes you may be purchasing additional hours.
We connect with NetSuite. Unfortunately, we are dealing with a bug right in the integration with NetSuite. Other than that, we do not have any other integrations to other sources of data.
The access control is great within the Adaptive Suite. We have been able to set up controls for the exact needs of different users. Rolling data up to an exec owner had to be done at a reporting level and not at a summary level while working in the system due to multiple currencies, but that is just a function of our needs. Reporting is easy and accessible to all.
I think if you are a SaaS software company, the Adaptive Suite will be very intuitive. I don't know how well suited it is for manufacturing or anything else only because I have not had to implement it for such companies, but it works well for the software industry.

Workday Adaptive Planning Feature Ratings

7.2
Long-term financial planning
7
Financial budgeting
8
Forecasting
6
Scenario modeling
8
Management reporting
7
7.5
Financial data consolidation
Not Rated
Journal entries and reports
Not Rated
Multi-currency management
6
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
Not Rated
Detailed Audit Trails
9
7.5
Financial Statement Reporting
8
Management Reporting
8
Excel-based Reporting
8
Automated board and financial reporting
6
XBRL support for regulatory filing
Not Rated
8.0
Personalized dashboards
8
Color-coded scorecards
8
KPIs
Not Rated
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
8.0
Flat file integration
Not Rated
Excel data integration
8
Direct links to 3rd-party data sources
Not Rated
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

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