In today’s ever-changing business landscape, scalable and effective financial and headcount planning, budgeting, and reporting are critical for organizations aiming to maintain agility and achieve strategic goals.
Enter Workday, a comprehensive suite of enterprise planning software that has revolutionized how businesses manage their finances, human resources, and operations. As integral aspects of the Workday Financial Management landscape, Workday Budgeting and Workday Adaptive Planning stand out as transformative financial planning tools that empower large enterprises to streamline their budgeting processes and enhance financial planning capabilities.
Read on to learn more about Workday Budgeting and how our expert Workday consultants can help your organization make the most of the technology you already own.
What is Workday Budgeting?
Workday Budgeting is a scalable financial planning tool that seamlessly integrates with the larger Workday ecosystem, delivering a cohesive experience for real-time budget creation, management, and adjustment. This allows organizations to adapt quickly to evolving market conditions and internal changes, ensuring financial precision and strategic alignment.
On the other hand, Workday Adaptive Planning is a dynamic, standalone tool created to tackle the intricacies of financial budgeting and forecasting. It provides dynamic, continuous planning capabilities, enabling finance teams to develop flexible, scenario-based plans and confidently make informed, data-driven decisions.
Together, these tools bring in a new era of financial management, where accuracy, adaptability, and collaboration drive superior business outcomes.
Improve Reports with Accuracy and Timeliness
Engaging Visuals
Avoid weak data visualization by viewing charts and numbers side by side and comparing them with variances in waterfall charts. When users edit financial data in the Workday Budgeting platform, the visuals instantly reflect the changes.
Trustworthy Numbers
Workday delivers one system of record for the entire CFO office, enabling FP&A and accounting teams to plan together and view logistics in real time.
Custom Dashboards and Reports
Workday Adaptive Planning links to Microsoft Word, PowerPoint, and Excel, enabling users to create and run highly formatted, customized reports on KPIs and other critical metrics.
Key Features of Workday Budgeting
Let’s take a look at some of the key features of Workday Budgeting for business users:
Workforce Planning
Create flexible hiring plans that align with sales planning, HR, finance, IT, and marketing to prepare for the skills needed for current and future endeavors.
Financial Planning
Leverage flexible financial reporting, scenario planning, and budgeting features to plan, budget, and predict key financial metrics confidently and streamline core financial processes.
Close and Consolidation
Improve the accuracy, transparency, and efficiency of the consolidation process by streamlining close and consolidation tasks.
Operational Planning
Utilize accurate data to deploy the appropriate resources to meet business goals and facilitate company-wide planning in tandem with finance.
Forecast and Budget With Less Stress
Run various scenarios.
Curate a what-if analysis to evaluate real-time data and manage complex financial operations.
Customize your budgeting process.
Access a user-friendly, web-based interface that delivers an Excel-like experience to improve budget customization and reap the benefits of a cloud financial modeling platform.
Plan for any time frame.
Develop daily forecasts, monthly or quarterly budgets, and long-term financial plans that align with your organization’s fiscal calendar.
Enhance collaboration and adoption.
Utilize a single data source, powerful business modeling tools, and integrated workflows to improve the adoption of budgets and predictions across business units.
Integrate all your systems.
Connect with other enterprise performance management (EPM) back-end solutions to import ERP data quickly and keep data models up-to-date.
How We Can Help
Whether you need help implementing a new Workday system to enhance your financial planning processes, improving budgeting and forecasting efficiency, or just getting started on your journey with Workday, Surety Systems can help.
Our senior-level Workday consultants have the functional expertise and years of experience to guide your team through successful implementations and integrations.
From outlining plans for a new Workday implementation to navigating complex integrations with other Workday and non-Workday systems or maintaining communication across project teams, we have you covered.
Contact Us
Are you interested in learning more about the Workday Budgeting platform or how our expert Workday consultants can help your organization maximize success?
Contact us today!
