Workday Adaptive Planning and Consolidation Delivers Efficiency, Agility, and Ease of Use to Finance Organizations

Rhea-AI Summary

Workday, Inc. introduces Workday Adaptive Planning and Consolidation, a new Enterprise Performance Management (EPM) solution that combines planning with close and consolidation capabilities. The solution aims to streamline data management, financial close, planning, and reporting for organizations.

New Enterprise Performance Management (EPM) Solution Unifies Planning with Close and Consolidation Capabilities

PLEASANTON, Calif., March 19, 2024 /PRNewswire/ -- Workday, Inc. (NASDAQ: WDAY), a leading provider of solutions to help organizations manage their people and money, today announced the availability of Workday Adaptive Planning and Consolidation, a new solution that brings together the robust and agile planning of Workday Adaptive Planning with the comprehensive close and consolidation capabilities in Workday Financial Management. With this new solution, customers can streamline and simplify data management, financial close and consolidation, planning, and financial reporting and analytics.

"Each organization's finance transformation journey is unique – not every customer is ready for a complete overhaul," said Terrance Wampler, group general manager, office of the CFO, Workday. "Now with Workday Adaptive Planning and Consolidation, Workday is providing another starting point on the finance transformation journey for organizations that are hoping to bring efficiency to their financial processes. Hundreds of customers today use Workday consolidation and planning functionality together, and we're thrilled to provide this to our customers as a standalone solution."

Automate and Simplify Enterprise Performance Management
Workday Adaptive Planning and Consolidation delivers a unified data model to simplify the process of aligning data structures, currencies, data flow, and collaboration between accounting and finance. With Workday Adaptive Planning and Consolidation, customers can:

• Increase efficiency and speed by reducing the time spent on collecting and reconciling data with a shared data model that unites financial reporting and company-wide financial planning.
• Overcome complexity by automating critical group close and consolidation tasks with built-in financial controls to ensure compliance and always-on auditing.
• Empower users with a modern, intuitive experience that facilitates self-service reporting and data exploration, and the ability to generate predictive forecasts and surface anomalies with embedded AI.

"As a multinational, service-centric organization, we require a single data model for our financial close and planning processes to drive overall business efficiency," said Joseph Fanutti, chief integration officer, Bill Gosling Outsourcing. "After we automated these transactions in Workday, finance managers gained significant time for analyzing data and offering guidance – in fact, 80% of our finance team's time is now spent on strategic analysis and delivering true value to the business."

To help speed their finance transformation efforts and streamline the implementation of Workday Adaptive Planning and Consolidation, customers can leverage the deep expertise of Workday's global partner ecosystem. Early adopter partners include Abacist Group, Active Cyber, eCapital Advisors, Invisors, Kainos, and Macrospect, and additional partners will be added in the coming months. These partnerships are designed to optimize co-creation and co-innovation between Workday and its partners to deliver greater impact to customers and the industry.

"We are seeing tremendous growth in the EPM market. Organizations, worldwide, recognize the value of having access to the right information at the right time, providing a transparent and accurate view of financial performance," said Michelle Murphy, consulting emerging ERP leader, Deloitte Global. "We're excited to see Workday deliver the power of its platform to the EPM market with Workday Adaptive Planning and Consolidation. This new solution will help our joint clients optimize business operations, enhance agility, and unlock sustainable growth, with a secure financial consolidation process, configured to be compliant with relevant regulations."

Availability

Workday Adaptive Planning and Consolidation is currently available for new and existing Workday customers.

For More Information

• See a demo of Workday Adaptive Planning and Consolidation here.
• Read more about the finance transformation journey here.

About Workday
Workday is a leading enterprise platform that helps organizations manage their most important assets – their people and money. The Workday platform is built with AI at the core to help customers elevate people, supercharge work, and move their business forever forward. Workday is used by more than 10,000 organizations around the world and across industries – from medium-sized businesses to more than 50% of the Fortune 500. For more information about Workday, visit workday.com.

© 2024 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.

Forward-Looking Statements
This press release contains forward-looking statements including, among other things, statements regarding Workday's plans, beliefs, and expectations. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission ("SEC"), including our most recent report on Form 10-Q or Form 10-K and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by law.

Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday's discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available.

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SOURCE Workday Inc.

FAQ

What is the new solution announced by Workday, Inc.?

Workday, Inc. announced the availability of Workday Adaptive Planning and Consolidation, a solution that integrates planning with close and consolidation capabilities.

How can customers benefit from Workday Adaptive Planning and Consolidation?

Customers can increase efficiency, automate critical tasks, empower users with self-service reporting, data exploration, predictive forecasts, and AI capabilities.

Which partners are involved in the implementation of Workday Adaptive Planning and Consolidation?

Early adopter partners include Abacist Group, Active Cyber, eCapital Advisors, Invisors, Kainos, and Macrospect, with more partners expected to join in the future.

Is Workday Adaptive Planning and Consolidation available to new and existing customers?

Yes, the solution is currently available for both new and existing Workday customers.

Where can customers find more information about Workday Adaptive Planning and Consolidation?

Customers can see a demo of the solution on the Workday website and read more about it there.