{"id":15331,"date":"2023-06-14T14:00:34","date_gmt":"2023-06-14T14:00:34","guid":{"rendered":"https:\/\/www.walkme.com\/blog\/?p=15331"},"modified":"2023-06-14T14:00:34","modified_gmt":"2023-06-14T14:00:34","slug":"what-is-workday-adaptive-planning","status":"publish","type":"post","link":"https:\/\/www.walkme.com\/blog\/what-is-workday-adaptive-planning\/","title":{"rendered":"What is Workday Adaptive Planning?"},"content":{"rendered":"\n<p><span style=\"font-weight: 400;\">Money is at the center of everything that happens in business. And planning is at the heart of coordinating how revenue is generated and allocated to ensure growth from a birds-eye perspective, as you can view and plan using all your resources.&nbsp;<\/span><\/p>\n\n\n\n<p><a href=\"https:\/\/www.linkedin.com\/pulse\/linkedin-jobs-rise-2022-25-us-roles-growing-demand-linkedin-news\/\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">LinkedIn Research<\/span><\/a><span style=\"font-weight: 400;\"> shows that <\/span><b>financial planning and analysis (FP&amp;A) is the 13th fastest-growing role in the US<\/b><span style=\"font-weight: 400;\">, indicating the need for software like Workday Adaptive Planning due to its popularity in the FP&amp;A field.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">It is essential to understand the functions and importance of Workday Adaptive Planning as you strategize your financial plan for the coming year for optimal <\/span><a href=\"https:\/\/www.walkme.com\/glossary\/performance-improvement\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">performance improvement<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">This article will guide you through every element of Workday Adaptive Planning via the following topics:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">Workday adaptive planning overview<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">What does Workday Adaptive Planning do?<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">What are the benefits of Workday Adaptive Planning?<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">What are the disadvantages of Workday Adaptive Planning?<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><b>Workday Adaptive Planning Overview<\/b><\/h2>\n\n\n\n<p><span style=\"font-weight: 400;\">Workday Adaptive Planning is a financial planning and analysis (FP&amp;A) tool that helps businesses plan and report their numbers differently to break down complex planning to make them simpler. It uses adaptive insights as part of an active planning process to help build <\/span><a href=\"https:\/\/www.walkme.com\/glossary\/business-resilience\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">business resilience<\/span><\/a><span style=\"font-weight: 400;\">.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">See the video below to get a visual representation of Workday Adaptive Planning.&nbsp;<\/span><\/p>\n\n\n\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=4hoauGafA_Q&amp;pp=ygUZd29ya2RheSBhZHBhdGl2ZSBwbGFubmluZw%3D%3D\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">Workday Adaptive Planning Demo: Machine Learning Forecaster<\/span><\/a><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">This enterprise planning software can break down the numbers by customers, products, regions, and more to help build a comprehensive perspective to enable efficient company-wide planning.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Doing so allows them to look at the numbers for each day or week and plan to reach goals in more minor, more manageable ways for effective enterprise performance management as part of your company-wide business planning strategy.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Many companies use Workday Adaptive Planning to manage their finances and prevent waste, as its adaptive planning processes support the allocation of finances to the best business areas to ensure growth.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><b>What does Workday Adaptive Planning do for companies?<\/b><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img height=\"655\" width=\"1024\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/What-does-Workday-Adaptive-Planning-do-for-companies__7654e302.jpg?w=1024&#038;h=655&#038;crop=1\" alt=\"What does Workday Adaptive Planning do for companies_\" class=\"wp-image-16398\" srcset=\"https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/What-does-Workday-Adaptive-Planning-do-for-companies__7654e302.jpg 1200w, https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/What-does-Workday-Adaptive-Planning-do-for-companies__7654e302.jpg?resize=300,192 300w, https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/What-does-Workday-Adaptive-Planning-do-for-companies__7654e302.jpg?resize=1024,655 1024w, https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/What-does-Workday-Adaptive-Planning-do-for-companies__7654e302.jpg?resize=80,50 80w, https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/What-does-Workday-Adaptive-Planning-do-for-companies__7654e302.jpg?resize=221,140 221w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Adaptive Planning aids enterprises facing financial processes such as manual data handling, limited scalability, weak data visualization, inefficient <\/span><a href=\"https:\/\/www.walkme.com\/glossary\/cross-functional-team\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">cross-functional team<\/span><\/a><span style=\"font-weight: 400;\"> collaboration, disconnected spreadsheets, and inadequate <\/span><a href=\"https:\/\/www.walkme.com\/glossary\/employee-training\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">employee training<\/span><\/a><span style=\"font-weight: 400;\"> for FP&amp;A.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">To tackle these obstacles, Adaptive Planning offers the following features:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">Powerful business modeling.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Strategic workforce planning.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Agile, adaptive planning.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Efficient operational planning.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Flexible, scalable financial planning for large enterprises and divisions.<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400;\">The Adaptive Planning tool encompasses various FP&amp;A solution requirements such as financial modeling, collaboration, analytics, management and board reporting, scenario and what-if analysis, and more. Adaptive Planning offers several financial planning tools, including:&nbsp;<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">Profitability Analysis.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Revenue Management.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Capital Management.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Balance sheet and cash flow.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Expense management.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Sales planning and financial reporting.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Real-time financial close and consolidation.<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><b>What are the benefits of Workday Adaptive Planning?<\/b><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img height=\"885\" width=\"1024\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/What-are-the-benefits-of-Workday-Adaptive-Planning_-1_71654e30.jpg?w=1024&#038;h=885&#038;crop=1\" alt=\"What are the benefits of Workday Adaptive Planning_\" class=\"wp-image-16399\" srcset=\"https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/What-are-the-benefits-of-Workday-Adaptive-Planning_-1_71654e30.jpg 1200w, https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/What-are-the-benefits-of-Workday-Adaptive-Planning_-1_71654e30.jpg?resize=300,259 300w, https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/What-are-the-benefits-of-Workday-Adaptive-Planning_-1_71654e30.jpg?resize=1024,885 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><b>There are many benefits to utilizing Workday Adaptive Planning, including the following:<\/b><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">Automating planning and execution functions can save time.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">The modeling engine designed for enterprise planning helps adapt to constantly changing business conditions.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Improve your business decision-making by using a tool that can be applied organization-wide and further streamlined when you use the in-app guidance and personalized learning offered by a <\/span><a href=\"https:\/\/www.walkme.com\/glossary\/dap\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">DAP<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">One way to enhance the performance of systems within your organization is by minimizing friction between them.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">We provide easy-to-use technology that enables and empowers users.&nbsp;<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400;\">It is helpful to be aware of these benefits when considering if this software is right for your organization or if a similar software from a different vendor will better suit your needs.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><b>What are the disadvantages of Workday Adaptive Planning?<\/b><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img height=\"980\" width=\"1024\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/What-are-the-disadvantages-of-Workday-Adaptive-Planning_-1_4654e309.jpg?w=1024&#038;h=980&#038;crop=1\" alt=\"What are the disadvantages of Workday Adaptive Planning_\" class=\"wp-image-16400\" srcset=\"https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/What-are-the-disadvantages-of-Workday-Adaptive-Planning_-1_4654e309.jpg 1200w, https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/What-are-the-disadvantages-of-Workday-Adaptive-Planning_-1_4654e309.jpg?resize=300,287 300w, https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/What-are-the-disadvantages-of-Workday-Adaptive-Planning_-1_4654e309.jpg?resize=1024,980 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Despite<\/span> <a href=\"https:\/\/www.gartner.com\/reviews\/market\/financial-planning-software\/vendor\/workday-hcm\/product\/workday-adaptive-planning\" target=\"_blank\" rel=\"nofollow noopener\"><b>Gartner Peer Insights<\/b><\/a><b> awarding Workday Adaptive Planning 4.8\/5 from 336 industry reviewers<\/b><span style=\"font-weight: 400;\">, this software does have disadvantages that are essential to consider before investing.&nbsp;<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">Some enterprise users faced mapping problems between our accounting system and Workday Adaptive Planning. We were unable to resolve these issues internally and required additional support.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">The issue of formulas malfunctioning sometimes occurs due to budget owners who lack expertise, despite the efforts made to fix the problem by updating Workday Adaptive Planning.&nbsp;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">The reporting functionality is not robust.&nbsp;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">If you don&#8217;t calculate complex KPIs in real-time by processing a large dataset in Workday Adaptive Planning, it can cause business disruptions.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Adding them to a plan cannot grant new individuals or stakeholders access.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Sharing plans via email is complex and requires third-party integrations for assistance.<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><b>Is Workday Adaptive Planning suitable for tech industry enterprises?<\/b><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img height=\"994\" width=\"1024\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/Is-Workday-Adaptive-Planning-suitable-for-tech-industry-enterprises_-1_5654e30c.jpg?w=1024&#038;h=994&#038;crop=1\" alt=\"Is Workday Adaptive Planning suitable for tech industry enterprises_\" class=\"wp-image-16401\" srcset=\"https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/Is-Workday-Adaptive-Planning-suitable-for-tech-industry-enterprises_-1_5654e30c.jpg 1200w, https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/Is-Workday-Adaptive-Planning-suitable-for-tech-industry-enterprises_-1_5654e30c.jpg?resize=300,291 300w, https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/11\/Is-Workday-Adaptive-Planning-suitable-for-tech-industry-enterprises_-1_5654e30c.jpg?resize=1024,994 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">It is essential to consider the size of your organization and whether Workday Adaptive Planning will meet your needs. First, consider your plan and model scenario planning with variables and dimensions.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><b>Plan and model multiple scenarios, variables, and dimensions<\/b><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Workday Adaptive Planning allows technology companies to develop intricate driver-based models to cater to their requirements as part of <\/span><a href=\"https:\/\/www.walkme.com\/glossary\/business-continuity-planning\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">business continuity planning<\/span><\/a><span style=\"font-weight: 400;\"> (BCP) to reduce the risks of unexpected events.&nbsp;<\/span><\/p>\n\n\n\n<p><b>Examples include:&nbsp;<\/b><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">B2B enterprise software providers who manage contract subscription waterfalls<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">sales rep productivity to gaming companies that anticipate in-game transactions across millions of active users<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">high-volume, freemium consumer platforms that prepare ad loads and cohort behavior.<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400;\">Using a holistic and driver-based planning approach allows companies to adjust quickly to assumptions regarding growth, hiring, and budgeted expenses. This way, they can efficiently observe the effects on financials, recognize potential risks and opportunities, and make appropriate changes.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><b>Supercharge planning with Elastic Hypercube Technology<\/b><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Workday Adaptive Planning uses Elastic Hypercube Technology, which is patented, to provide both power and scalability while maintaining ease of use.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">This technology can handle complex models and scale up memory and computing power to evaluate model elements in parallel. It features domain intelligence designed to help users create and modify functional models more quickly and easily. It is also integrated with Microsoft Office to facilitate the rapid generation of board reporting.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><b>Gain real-time visibility within a flexible, intuitive interface<\/b><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Workday Adaptive Planning provides a dashboard that can be customized to fit the needs of a technology organization. It allows analysis of essential business drivers across all aspects of the business.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">In the web-based interface, you can create customized reports with the required level of detail.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">You can also swiftly analyze variance at each stage to compare actual and planned behavior. Moreover, the interface is similar to Microsoft Excel, making it easy for all employees to provide input, regardless of their training.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><b>Integrate with core business systems<\/b><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Technology companies&#8217; IT infrastructures have become more complex, so they can no longer isolate critical business functions and data in separate silos.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Workday Adaptive Planning allows for comprehensive planning, analysis, and reporting within the most restrictive regulatory frameworks by integrating with other core business systems and external data sources.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><b>Minimize human error<\/b><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Today&#8217;s high-growth organizations require operational planning and reporting that spreadsheet-based systems cannot provide. These systems are prone to errors, inefficient, and unsuitable.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">With Workday Adaptive Planning, you can rely on automated technology that continuously plans and utilizes data from various aspects of your business, minimizing manual intervention.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">This outcome results in a more efficient budgeting, planning, and forecasting process that can improve productivity by more than 70%.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><b>Utilize the robust process with the flexibility to scale<\/b><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">For software and technology companies that desire rapid growth, having effective business processes and systems in place is crucial. Workday Adaptive Planning helps create a plan that can be reviewed, analyzed, and adjusted during execution.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Doing so enables companies to make better decisions, streamline processes, and allocate resources strategically. The outcome is a more agile organization that can compete successfully over time.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><b>Adopt Workday Adaptive Planning with a DAP<\/b><\/h2>\n\n\n\n<p><span style=\"font-weight: 400;\">Workday Adaptive Planning is an innovative and robust solution streamlining organizations&#8217; financial planning, forecasting, and budgeting processes.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">By adopting Workday Adaptive Planning with a DAP (digital adoption platform), companies can leverage a comprehensive toolset and a structured implementation approach to maximize the value of their financial planning efforts.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">When a company embraces Workday Adaptive Planning with a DAP, organizations can enhance their financial planning processes and achieve greater agility and accuracy in their forecasting and budgeting activities.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Doing so ultimately drives more efficient corporate performance management, higher business growth, and success.<\/span><\/p>\n\n\n<a href=\"javascript:;\" class=\"popup-threefields m-element-hidden j-initiator j-paid_post_feature\" id=\"imgpng\" form-type-id=\"imgpng\"><img decoding=\"async\" class=\"initiator-image\" src=\"https:\/\/www.walkme.com\/blog\/wp-content\/uploads\/sites\/2\/2023\/04\/Onboarding-training-B_643bf183.png\"\/><\/a>\n","protected":false},"excerpt":{"rendered":"Money is at the center of everything that happens in business. And planning is at the heart of coordinating how<span class=\"moretag\">&#8230;<\/span>","protected":false},"author":251,"featured_media":15332,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"mobile_image_id":0,"tablet_image_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[89],"tags":[7629,7631,96,585],"class_list":["post-15331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-transformation","tag-business-resilience","tag-corporate-performance-management","tag-employee-training","tag-performance-improvement"],"acf":{"__coauthors":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Workday Adaptive Planning?<\/title>\n<meta name=\"description\" content=\"Wondering what Workday Adaptive Planning is and what it could do for you? 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