Do you see spreadsheets in your sleep, most often around budgeting time? We get it; we know that the process of data collection and reporting is often arduous, frustrating, and even madcap. To compound matters, both the formulas and the data used may be outdated, resulting in decision-making delays or decisions made in haste. You can skirt all that with Adaptive Insights, the business planning cloud for finance teams. Here’s what you need to know about the benefits of Workday Adaptive Insights.
What is “Adaptive Insights”?
Now Workday Adaptive Planning, and known to be swift, strong, and intuitive, Adaptive Insights is touted as the world’s first enterprise planning cloud. Simply put, it helps you and your finance department manage your business better and make better decisions.
What Does it Help With?
You can use the software for budgeting, forecasting, and financial planning to be used for sales and cashflow projections and balance sheet forecasting.
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How Does it Work?
It’s all about the potent planning and forecasting engine, which takes care of your financial modeling – revenue, expenses, payroll, etc. — in no time with its user-friendly interface.
But don’t let ease-of-use fool you: this is one powerful, complex system.
How Does it Change How I Work?
It’s night and day, really, when you compare what Workday offers to your old way of handling things. If you put Adaptive Insights in play, you can finally say goodbye to all the data mistakes and time-sapping reporting processes that often bedevil Excel-type reporting. With Workday, you can knock out those reports collaboratively, comprehensively, and continuously. After all, Adaptive Insights is the brainchild of a former chief financial officer.
Still, you need to work with a Workday Adaptive Insights partner to get the most from your new system. More on that later.
What About Integration?
There is zero problem integrating Workday Adaptive Insights with data sources such as ERPs, CRMS, Oracle, and Microsoft Dynamics, both in-house and in the cloud. Because data is ripping and running by itself among systems, your already over-burdened IT team can tend to other matters.
What About Budgets and Forecasts?
Another cool thing about Adaptive Insights is that it factors in nuances, the nitty gritty, in budgets and forecasts, as in during these times:
- When elimination and allocation rules change
- When exchange rates for multinationals require consideration
- When takeovers and mergers result in new entities
- When a percentage interest in an entity increases or decreases
Do I Need to Work with a Workday Partner?
We’re glad you asked. Remember that “help” I alluded to earlier? Well, you do need assistance to effectively make the leap from all things manual to swift agility, with the bonus of having all the data, all the pertinent and current info, that Mercer provides. After all, technology is wonderful, but it’s certainly not everything.
Purchasing the standalone tool through Mercer can help with sales targets. For instance, you’ll be able to easily and expeditiously update your planning to match an economic or headcount change. You’ll also be able to pinpoint industries that your current headcount may not be able to adequately serve. What’s more, if there’s a change to your team, that can be easily handled by the way Mercer structures your booking targets.
Now that you know the benefits of Workday Adaptive Insights, you probably want to invest in it. And if you do, it’s a good idea to go through Mercer for implementation, so that you’ll have access to the company’s rich, relevant, and up-to-date datasets, which you can use to make strategic decisions.