How do you reduce errors and increase accuracy in financial planning, forecasting and reporting? With Workday Adaptive Planning.
Invaio Sciences, Inc., a Flagship Pioneering company, is headquartered in Cambridge, MA. Invaio is striving to accelerate the leap to a more nature-positive era for agriculture by solving performance and delivery challenges of traditional chemical and biological crop protection.
Until recently, Invaio was using Microsoft Excel for its budgeting, planning, forecasting and reporting needs. The manual nature of Excel – and the human error that comes with it – became too much of a burden for the company.
Invaio is a privately held company that relies on private investments and debt financing until it becomes cash positive. The finance team needs to provide senior management with updated and accurate numbers to help management determine when the company needs to raise more money.
Invaio selected Workday Adaptive Planning with Revelwood as its implementation partner. “A personal connection referred Revelwood to us,” said Ryan Garceau, head of operations & finance at Invaio. “As soon as we met the Revelwood team there was an instant rapport. We’ve since developed a great relationship between the Invaio finance team and the Revelwood team members. The Revelwood team was committed to making this project a big success.”
With its new Workday Adaptive Planning solution, Invaio now has a new approach to managing foreign transactions and financial reporting. “The way we do financial planning, forecasting and reporting are like night and day,” added Garceau. “We’ve gained efficiencies across the board, and we’ve changed the finance team’s value proposition. Our activities are no longer about building the reports, they are about analyzing the data.”
Interested in learning the full story? Read the success story to learn how Invaio benefits from Workday Adaptive Planning.
Read more blog posts on Workday Adaptive Planning:
FP&A Done Right: The Changing Role of the CFO
FP&A Done Right: Financial Forecasting Processes that Guide Business Strategy