|Planning, Budgeting, Reporting||Workday Adaptive Planning|
This pharmaceutical manufacturing company with sales of over $1 billion is known for its responsiveness and reliability. The company was experiencing rapid growth and had outgrown its “smaller company” infrastructure. Everything was manual and Excel-based. If someone wanted to see profitability for a particular product or product line, it was a one-off analysis or exercise in figuring out how to pull together that information. The biggest pain point was planning and reporting – it was flat out impossible to do that with multiple versions of spreadsheets.
The pharmaceutical company selected Workday Adaptive Planning for several important reasons:
- It was more Excel-like than any of the other tools they evaluated
- It was a cleaner, more useful tool that they could easily jump into and scale-up
- It was the best solution to roll out to the larger organization with a self-service model for managers to access budgets, input budgets, run reports and build dashboards
The pharmaceutical firm started with some fairly standard models in Workday Adaptive Planning. Then they added complexities and tailored the models to their needs. The company is now using common components such as income statements and balance sheets with GL trial balances. They’ve also incorporated P&L data with dimensionality, bringing their revenue cube “to life” in Adaptive Planning. The company can now plan down to the product and customer-type dimension levels.
The pharmaceutical manufacturer has expanded its use of Adaptive Planning beyond Finance. They have built several non-finance models around production, metrics, product data, production data, quality data and more. They are doing many common FP&A activities on a monthly, quarterly and annual basis.