Building & Construction
| Function: | Products: |
| Cash flow management, financial planning & analysis | Workday Adaptive Planning |
Challenge
This construction business has been building homes in mid-sized communities since the early 1970s. The company has grown throughout the decades, but with today’s red-hot housing market and ongoing supply chain disruptions, it needed a new approach to FP&A.
The company’s existing “solution” consisted of FP&A tools that were siloed, static and filled with inefficiencies. The home-builder could project revenue and cost by project, but were unable to forecast in real-time. It was a cumbersome and time-consuming process to access data. The team had to pull the data table-by-table, then set up a new table, export it into Excel and then perform analysis on that data.
This “solution” did not provide visibility into cash flow to enable the company to manage its growth.
Solution
Workday Adaptive Planning satisfies all the requirements on the company’s “wish list” for a new FP&A solution. It is easy to use and maintain, provides visibility into financial performance, streamlines business insights from real-time data and marries operational metrics with financial data to develop KPIs.
It also integrates with MarkSystems Home Builder Software, an industry-leading ERP system, that allows the builder to track profitability on each project and at every stage.
Results
Cash flow is one of the biggest challenges facing home builders. With the new Workday Adaptive Planning solution, the construction firm now has insight into how the increasing costs and delays facing the industry impact their projects. The company now has a sophisticated and comprehensive view of cash flow based on projects, payments and milestones. The data refreshes multiple times a day, providing a real-time view of the company’s cash flow and obligations.