What is Adaptive Planning

by Carter Toni

Largely owing to the pandemic, business models are in various states of flux. That makes it difficult to plan. Still, as they say, if you fail to plan, you plan to fail (some of those corny “sayings” are true). In this environment, then, what you need is a data-based system that will help you plan – but with the agility that allows you to pivot. Enter Workday AdaptivePlanning, a cloud-based business planning software. But just what is adaptive planning? We explain that and more below.

What is Adaptive Planning?

Let’s get to it. It’s an enterprise planningsystem offered by Workday that provides tools to assist companies with collaborative planning. To do so, it offers tools for budgeting and forecasting as well as for modeling.

What are Some of its Features?

In addition to workforce modeling, Workday Adaptive Planning provides help with expense tracking and balance sheets. It also makes collaborations easier, provides timely insights, and, utilizing formidable analytics and modeling, helps organizations make wiser strategic decisions. By using adaptive planning, businesses of all sizes can adapt to an evolving business milieu with agility and confidence.

What Does This Mean in Practical Terms?

Well, you can use Workday Adaptive Planning to lessen the time that your finance people invest in spreadsheet-type planning. With this system, you can make swifter, smarter business decisions through financial intelligence analytics, forecasting, and scenario planning.

You can also use the system’s drag-and-drop abilities to produce and edit reports that are based on current data, and which provide users with a holistic business view. To speedily pinpoint trends and problems you can get deep into organizational metrics, vital performance indicators, and operational performance.

Does it Make Life Easier?

Yep. Workday Adaptive Planning simplifies reassigning values processes from one segment of your business to a different one by supplanting multiple convoluted formulas with easily created allocation dictums.

Do I Need Outside Help?

While the standalone tool Workday Adaptive Planning can be bought and launched with any ERP, you’d be imminently better off going through the consulting firm Mercer to shake up your workforce, financials, and sales planning. Why? Chiefly because of potent technology and unmatched datasets.

What About Our Global Business?

Piece of cake. Workday Adaptive Planning can handle different currencies with ease, which streamlines global as well as departmental planning. Thanks to features such as Cumulative Translation Adjustment and Automatic Currency Exchange, you needn’t lose sleep over challenges presented by simultaneously managing multiple currencies.

What About Ease of Use?

With Workday Adaptive Planning, enterprises can produce and maintain the system’s multidimensional finance models. And get this: with no requisite coding! That’s because the system’s user-friendly interface can handle all manner of modeling across any kind of business of any size. And we’re talking modeling that includes capital, revenue, and workforce. 

How Does Workday Adaptive Planning Produce Better Decisions?

Well, because the system has a centralized app that, with no prompting, folds together actuals and plan data from GL tools, not to mention additional transactional systems that include CRM and HCM.

In today’s unstable business environment, Workday Adaptive Planning can give you the data-driven insights and flexibility you need to adapt to inevitable changes. Don’t get caught flat-footed. Don’t you want to be betterequipped to get in front of change through solidly produced scenarios that can help you make strategic decisions that can positively affect your bottom line? We thought so. And, if you go through Mercer for implementation, you’ll come out even further ahead of the game.

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