Planning is paramount for companies that want to stay competitive in our ever-changing world. But far often, those same organizations rely on a slow, manual planning process that doesn’t allow them to react quickly to business changes. Making things even less effective, these tools are typically siloed and disconnected, preventing companies from maintaining a clear view of their business. But there is a better way—Workday Adaptive Planning.
Workday Adaptive Planning is a planning platform designed to give you a comprehensive view of your company’s success. In this article, we’ll cover the benefits of Workday Adaptive Planning as well as how it can boost three key areas of your business.
Let’s get started.
Workday Adaptive Planning Overview and Benefits
Workday Adaptive Planning is a cloud-based platform that helps your business collect, integrate, and organize your data systems into one place so that you can break free from those old-school spreadsheets and outdated systems.
It’s powered by something called Elastic Hypercube Technology (EHT). While that sounds a bit like something you’d find inside a science fiction novel, EHT is simply Workday’s in-memory modeling engine that delivers the performance you need, when you need it. Adaptive Planning also includes a built-in integration framework to make sure you can connect to data from any ERP, HCM, CRM, or other systems, without the hassle of dealing with third-party tools.
Other key benefits of Workday Adaptive Planning include:
- Saving time by automating planning and execution functions
- Adapting to ever-changing business conditions with a modeling engine designed for enterprise planning
- Making better decisions with a tool that can be used throughout the business
3 Business Areas That Shine with Workday Adaptive Planning
In order for a planning solution to truly be effective, it needs to enable and empower all users—even those outside the Finance Department—and Workday Adaptive Planning does just that. The cloud-based platform extends beyond your core finance team to help three central departments throughout your organization. This means that all departments and functions can create their own models and link back to the corporate plan. (Pretty impressive, right?)
When you boost the planning power of non-Finance departments, the company wins as a whole—better planning abilities makes it easier for your organization to develop a comprehensive view and to build a stronger foundation for the future.
Let’s take a closer look into the three parts of the platform:
1) Workday Adaptive Planning for Finance
As you might expect, Workday Adaptive Planning for Finance is packed with everything you need in a finance software solution, including continuous financial planning, reporting, and analysis. You can also produce accurate budgets and forecasts, evaluate multiple scenarios across large data sets, and deliver reports in minutes. What else could you ask for?
2) Workday Adaptive Planning for Sales
Workday Adaptive Planning for Sales helps optimize your sales resources by enhancing sales performance and predictability. The tool makes it easier to create rep capacity plans to meet bookings targets, deploy quotas, set up balanced territories, and collaborate on possible sales scenarios. With integration into corporate finance, sales teams can get insights into how their actions impact other parts of the business. And the reverse is also true—connecting more directly to Sales (and other departments) helps Finance access the information they need to help plan across the company.
3) Workday Adaptive Planning for Workforce Planning
Workday Adaptive Planning for Workforce Planning allows you to (what else?) plan for any scenario, model your workforce, standardize plans, and collaborate across your organization. It also gives you the ability to deliver dynamic headcount and skills-based plans, as well as strengthen the collaboration between human resources (HR) and business leaders to optimize your workforce plans.
How to Succeed with Workday Adaptive Planning
Getting the most out of Workday Adaptive Planning software requires a partner with the expertise to help you achieve your goals. At Surety Systems, our senior-level Workday consulting team can help you on this journey by providing expert advice on everything from implementation to training and on-going support.
If you’re ready to learn more about the platform, or if you have any other Workday-related needs, contact us today to get started.