Adaptive Insights Achieves Workday Certification; Geared to Offer Better Financial Management Capabilities

By CIOReview | Monday, December 14, 2015

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FREMONT, CA: Adaptive Insights, a provider of cloud-based corporate performance management (CPM) solution, has been certified as a Workday Solution Partner. The integration of Workday Financial Management with Adaptive Planning application will provide organizations easy sharing of general ledger balances, journal entries, and Worktag information.

Workday Partners are an exclusive group of providers that have passed the Workday standards of quality, integrity and experience.

Adaptive Planning is a planning process that uses advanced analytics to address interdependencies between asset management, capital investments, market dynamics and operations. By leveraging cloud-based computational capabilities, Adaptive Planning uses data to create, compare and optimize complex planning decisions. Its framework enables utility planning efforts to shift from being an annual event to a more flexible and timely process that is more closely integrated into normal business activities.

The solution provides advanced scenarios and comparison analytics that can be used to evaluate capital investment, maintenance, operations or compliance options against a wide-range of metrics. It helps in equipping with asset investment and maintenance plans with an understanding of risks, impacts and criticality; and projection of variances between actual and planned performance and reveal improvement opportunities.

Workday Financial Management includes a full range of finance and accounting capabilities, real-time business insights, and fully auditable process management. The challenges associated with integrating financial and operational data beyond the general ledger are a concern as well as priority for CFOs today.

The major functions of Workday Financial Management tool include: ensuring proper regulatory compliance, such as separation of duties and data privacy, with unified process controls and security; global consolidation across multiple entities and currencies; efficient management of standard financial processes; and provide spreadsheet based financial and management report.

For instance, IMC Financial Markets in the Netherlands has been using Adaptive Planning with Workday to deliver innovative forecasting while leveraging Workday as their system of financial record. Whether using Workday for their financial transactions or personnel, the integration of Adaptive Planning enables to predict the future by leveraging the systems of record and other operational data like sales forecasting data from SFDC or production statistics. Through such analytics, users get a complete view of their corporate performance.

"It is increasingly clear that companies require a comprehensive view of data from across the entire organization in order for their finance teams to make informed, strategic decisions. Our Workday certification reinforces the importance of solutions that solve organizational budgeting, forecasting, and planning challenges, while maintaining consistency with the underlying financial and operational data. It gives modern finance teams the ability to plan, analyze, and act faster, and with greater confidence in the integrity of the data." says Carolee Gearhart, senior vice president of international sales and global channels, Adaptive Insights.