You would be foolish not to use a product like this.
November 13, 2017

You would be foolish not to use a product like this.

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

Overall Satisfaction with Adaptive Suite

Setup requires considerable pre planning. Major changes to budgets require time to implement. I can see this being more difficult to use for someone who is not a superuser. A individual user just updating budgets would not have a difficult time with the program but a superuser who designs worksheets must stay ontop of changes in the program.
Adaptive is used across the entire organization for budgeting and forecasting purposes. Yearly budget and rolling forecasts with budget to actual reporting on a monthly basis.
  • Customer support is top notch, questions are answered quickly. Pushing important updates to customer on a regular basis that make using the product easier and ensure we are aware of changes in the program.
  • Obviously the ease of using the product and time savings from using a budgeting program.
  • The ability to run scenarios and update forecasts. It takes a minute to start up a new scenario to run comparisons against. I have been in a board meeting and have flipped my screen to a live scenario and updated on the fly as discussions progressed. Instant information instead of waiting to see how changes would affect the company.
  • I wouldn't say the program is the easiest to use. It takes time to understand the concepts of how to format. That being said, I setup our instance with limited assistance from Adaptive.
  • The online help was weak although it is improving with more video training.
  • Positive impact as it has saved finance hundreds of hours of unnecessary work spinning budgets in excel.
  • Positive impact because it allows us to perform a rolling forecast and avoids the yearly budget cycle. We always know where we are at 12 months from now. Everyone knows their targets and can plan ahead with confidence.
I believe i have responded to this previously. We now do a rolling 12 month forecast. What if scenarios are run at will based on scenarios as they occur due to the ease of use. Month end reporting times have reduced significantly. As mentioned before, what if analysis now happens at the board level as the need occurs due to the ease of use.
Significantly more time for strategic work as the budget and forecasting cycle is shorter now. Less time spent on budgets, more time on analysis and what if scenarios. More value-add analysis than playing around with Excel. It should be a no-brainer for any finance individual to make the decision to use this product. The ROI is so easy. Spend money on Adaptive or spend hours playing around with Excel. The payback comes in the finance teams efficiency and quicker more accurate information to executives for decision making.
A list would have helped here. IT's been a while since I used a competitive product and am drawing a blank on the name.
[It's] Well suited for a company that runs complex budget scenarios with a requirement for many updates due to changing dynamics of the business. Well suited for small companies with small finance departments. Days of spinning budgets in Excel get reduced to hours in Adaptive. Obviously good for large distributed corporations who need a consolidated view. Why wouldn't you use this program in this day and age where departments are trying to save on salaries. The program easily saves you headcount and pays for itself.

Workday Adaptive Planning Feature Ratings

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