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https://www.trustradius.com/corporate-performance-management-cpmAdaptive Insights, a Workday companyUnspecified8.5219101
Brad MacDonald profile photo
Updated May 28, 2019

Outsanding Solution!

Score 10 out of 101
Vetted Review
Verified User
Review Source

Overall Satisfaction with Adaptive Insights, a Workday company

As a growing company, we needed to shift from Excel-based budgeting/reporting models to a much more capable (and sophisticated) model. We selected Adaptive based on the tool's capabilities, the fact that it's cloud-based (SaaS), and easily scalable. We deployed Adaptive for all budget owners within 3 months of making our decision.

Using Adaptive, our budget owners and executives now have a much better (and faster) view of our financials, as well as allowing the finance team to spend time on analysis/insight.
  • Overall structure of the model is both powerful and simple. Accounts and levels (departments/cost centers) drive the overall data structure. Once this principle is firmly understood, the tool is quite easy to understand from an implementation and administrative perspective.
  • Customer support is outstanding. Even though we're a small company, Adaptive doesn't recognize that (or care). I've had conversations with a variety of their team members on a number of different topics, and they are very good at supporting our company.
  • Reporting tools are world-class. It's nice that you can have a best-in-class planning system, but without equally strong reporting tools, it really doesn't mean much. Adaptive's easy-to-build reports are both flexible and powerful.
  • Administration is easy. Helpful tools to make your system secure.
  • Our biggest challenge is that more people want the tool than we (originally) budgeted for. (This really isn't a con, but be aware that if you're moving from an Excel-based manual model, people will be really hungry for this type of tool/application.)
  • Positive: We are much more efficient now than previously. The time savings alone, and our ability to focus on insights/analytics using less resources has been a great strength to our company.
Adaptive is much more flexible and powerful for our needs. It provides a wealth of reporting tools and capabilities that Cognos simply didn't or couldn't provide. The ability to have a team of one completely implement and manage the solution for a company is not unreasonable (as I'm currently doing this). Based on my previous experience, that would probably not be the case with other solutions.
I am completely satisfied that this tool can be used with either the smallest or largest organizations (yes, it's that good).

Adaptive Insights, a Workday company Feature Ratings

Long-term financial planning
10
Financial budgeting
10
Forecasting
10
Scenario modeling
10
Management reporting
10
Financial data consolidation
10
Journal entries and reports
10
Multi-currency management
9
Intercompany Eliminations
10
Minority Ownership
10
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
Personalized dashboards
10
Color-coded scorecards
10
KPIs
10
Cost and profitability analysis
10
Key Performance Indicator setting
10
Benchmarking with external data
5
Flat file integration
10
Excel data integration
10
Direct links to 3rd-party data sources
10

Using Adaptive Insights, a Workday company

All operational aspects - G&A, Marketing, R&D, Manufacturing
Since I'm the administrator of the tool, people generally come to me with any questions or issues.
  • Planning (Forecasting, Budgeting)
  • Management and Statutory Reporting
  • Analytics
  • Stock-based compensation forecasting linked with workforce planning. This was historically a very challenging calculation, given our headcount growth and manual process. Using Adaptive, we were able to generate formulas based on our overall workforce plan, along with highly "auditable" calculations (i.e., we don't have a "black box" where nobody can explain how the number is calculated).
  • Linking our PO system directly within Adaptive, so that business/operational leaders can see a list of all their open POs and plan accordingly.
The tools is powerful for planning and reporting purposes, but also very easy to use for non-financial end-users. Team members have expressed how happy they are with the application and the ability we've given them to make their work lives more efficient.

Evaluating Adaptive Insights, a Workday company and Competitors

Yes - We used "old-school" Excel-based forecasting/budgeting models. As a growing company, our ability to forecast/budget and report actuals on a timely basis simply would not be sustainable using a manual process.
  • Product Features
  • Product Usability
  • Prior Experience with the Product
  • Vendor Reputation
  • Existing Relationship with the Vendor
Product Usability: The ability to generate very detailed forecasts/budgets - with multiple user inputs across the organization - and automatically include actuals (with transaction level details) as part of that particular forecast cycle, was key for our operating team. Adaptive has come through flawlessly for us.
During the vendor review/selection cycle, we would attempt to identify "best-in-class" core processes, and then rack/stack the vendors accordingly. Knowing what I know now, Adaptive would still come out on top for me.

Adaptive Insights, a Workday company Implementation

Trust the expertise of very strong 3rd party implementers. Having deployed Adaptive at a separate company before, I thought I knew it all (hubris, I know). Fortunately, I began to (very quickly) trust the judgment of our Carlson implementation team, and they provided invaluable insights and best-in-class processes that have benefitted me and my team greatly.
  • Third-party professional services
Carlson Management Company
Yes - 1. Foundational elements: structure of the reporting organization (departments, cost centers, profit centers, etc.), accounts
2. Reporting: development of both web-based and OfficeConnect reports
3. Training was interspersed throughout the course of the training, including Administrator training.
Change management was a small part of the implementation and was well-handled - Initially, we wanted to slowly roll-out the tool for operational leaders. However, after showing a demonstration to our team, I was blown away by the number of people who wanted access to the tool, and their desire to begin using it. This was actually a great "problem" to have, and naturally led to many champions throughout the organization.
  • Foreign currency-related issues, which the Carlson team expertly understood and resolved in a timely manner.

Adaptive Insights, a Workday company Support

Their support infrastructure is world-class. Of course, they have a team that responds directly to issues/questions, but they also have an ecosystem of support (blogs, user forums) and training (in fact, they're training modules are some of the best I've seen).
ProsCons
Quick Resolution
Good followup
Knowledgeable team
Problems get solved
Kept well informed
No escalation required
Immediate help available
Support understands my problem
Support cares about my success
Quick Initial Response
None
As a new administrator, I was trying to resolve an issue with my cash flow model (I thought a custom account wasn't calculating correctly). However, one adjustment that the Support team recommended I make very quickly solved my issue. Importantly, they also taught me understand the "core" principle so that I use this feature going forward for other areas of my model.

Using Adaptive Insights, a Workday company

From an Administrator's standpoint, it is as intuitive as you can get. The ability to create versions and scenarios is without equal.
From a (non-finance) users perspective, many have expressed to me their appreciation for a powerful system that is very easy to understand and use.
ProsCons
Like to use
Relatively simple
Easy to use
Technical support not required
Well integrated
Consistent
Quick to learn
Convenient
Feel confident using
Familiar
None
  • Integration with our core ERP platform. Once this is set up, scheduling data feeds from any source system is simple and fast.
  • Workforce planning is outstanding. We have several inputs in our workforce model (including location, benefits, etc.) and the ability to have drop-down menus with appropriate selections appear is excellent.
  • Scenario modeling: I'm particularly pleased with this aspect of Adaptive, since we do quite a bit of scenario modeling for each budget/forecast cycle. The way we've structured our model allows for many different scenarios, with the ability to easily turn each scenario on/off.
  • The functions themselves aren't difficult to use; like any system/tool, it does take some training to fully understand how to exploit the power of these functions and the tool's overall capabilities.