In today’s ever-changing environment, it was high time you shed your old way of making strategic business plans, which consisted of spreadsheets and other manual processes. You also needed the flexibility to easily and quickly pivot if need be.
Now that you have Workday Adaptive Planning, you’re in good shape. Still, you need to be able to optimally utilize your new software to truly make it work. Read on for what you need to know about taking full advantage of adaptive planning.
What is Adaptive Planning?
It’s basically a software system that helps businesses of all sizes plan, budget, and forecast better, faster, and smarter. It helps with reporting and provides the agility, scalability, and security necessary for intricate planning.
What are Some of its Benefits?
With adaptive planning you can gain the deep insights needed to make timely decisions, and with newly integrated plans, you can manage smarter and more efficiently. You’ll get in-depth financial models sans employment of cumbersome spreadsheets and management of clunky legacy systems. Oh, and you’ll no longer manually consolidate data, which reduces the chance for errors.
How Does it Help with Planning?
In business, planning is paramount. Workday Adaptive Planning enhances planning with an intuitive system that speeds adoption and promotes the participation of business units, operations, and finance teams.
When you get finance and non-finance people engaged together in planning, you can establish plans that are in line with your company’s goals.
How Much IT Help Does Adaptive Planning Require?
Adaptive planning doesn’t require much IT support at all, especially if you enlist the help of a consultant such as Mercer. That’s largely due to the system’s drag-and-drop functionality that enables operations and finance teams to control their models, reporting, dashboards, and processes.
How Much Flexibility Does Adaptive Planning Provide?
The answer: loads. Unlike traditional planning systems, most of which are lumbering and ponderous, Workday Adaptive Planning is much more agile, and meets flexibility demands head on. In fact, the system is made for flexible modeling of operations planning as well as fast scenario planning. That means that as business and markets change, plans and models can, too.
Can a Consultant Such as Mercer Help?
Indeed. If you buy and launch adaptive planning through Mercer, you’re getting a formidable tool,plus access to Mercer’s nonpareil data sets that will help you make business decisions based on pertinent and up-to-date info.
Specifically, Mercer can help with:
- Financials planning. By just hitting a button, you can produce disparate scenarios at the end of each quarter, a time in which you’re reviewing budgets and needing to make decisions.
- Workforce planning. You need to know whether your organization is appropriately staffed, for now and as well as the future, to meet your financial targets. Mercer can help you optimize adaptive planning to do just that.
- Sales planning. Mercer can assist you with structuring your quotas and booking targets in a way in which they can be strategically updated. What’s more, the consultant and Workday expert can pinpoint industries or areas that will be disadvantaged with your current team. You want the ability to update your planning if there’s a change in economy or headcount. Again, Mercer can help.
You already know the full benefits of the technological marvel that is Workday Adaptive Planning. You also now know that to take full advantage of adaptiveplanning, it would behoove you to go through Mercer, which has deep knowledge of how the system works, and how it can ultimately improve your bottom line.