Forecasting With Workday Adaptive Planning®
Workday delivers user and administrative tools across a wide array of functions, including financials, HR, planning, talent, payroll, analytics, student and more. Three of the most commonly used Workday software solutions are Workday HCM, Workday Financial Management, and Workday Adaptive Planning. Most Workday professionals are intimately familiar with Workday HCM and Financial Management, but few know how to get the most out of their Workday investment by integrating Adaptive Planning. In this blog post we’ll take a closer look at how Adaptive Planning works with HCM and Financial Management.
What Adaptive Planning Does
Workday Adaptive Planning integrates other Workday and third-party applications to create real-time, powerful predictive models. Workday Human Capital Management handles human resource management, workforce planning, payroll, attendance, learning, and similar HR functions. Workday Financial Management, on the other hand, provides solutions related to accounting and finance, revenue management, reporting and analytics, financial planning, expenses, procurement and project accounting. Workday Adaptive Planning essentially takes data from Workday HCM, Workday Financial Management, other Workday solutions, and/or other third-party software and then uses that data to create forecasting models and reports in real-time.
How Adaptive Planning Works
Data in Workday HCM, Financial Management, and similar solutions is recorded and updated in real time, so it is considered Actuals Data. However, you cannot make projections from Actuals Data within HCM and Financials Management without changing important information throughout your whole organization. One common solution is to export Actuals Data into Excel or similar third-party software to create forecasting models and reports. This wastes valuable time, energy, and resources, while also increasing the risk of human error. Workday Adaptive addresses these problems by integrating directly with your ERP systems to create forecasts and reports that are updated with Actuals Data in real-time, saving your organization significant time, energy, and resources. Workday Adaptive Planning also integrates your organization’s user security settings, allowing you to control access to sensitive data, and has powerful reporting capabilities, enabling you to create pdf reports or real-time dashboards.
What Makse Group Can Do
Workday Adaptive Planning works best with other Workday software, but it can be integrated with any ERP system that you might be using. Implementing Workday Adaptive Planning can take your forecasting to the next level, but an implementation project can be daunting, especially if your organization has a wide range of systems and functions. This is where Makse Group can help. We offer services for all of your Workday Adaptive Planning needs: from Assessment & Recommendations to Implementation and Integration. Contact us now to speak to an expert today!
