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Budgeting Planning & Forecasting

10 Steps to Transform Financial Planning & Analysis: A Guide to a Successful FP&A Implementation

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The role of Financial Planning & Analysis (FP&A) has never been more crucial. Organizations are increasingly relying on FP&A solutions to streamline data, enhance decision-making and drive business strategy. Yet, despite the potential, many FP&A implementations fail to meet expectations.

Why FP&A Matters

FP&A systems are more than just software—they are a transformative tool for financial leaders. By centralizing data and enabling real-time analysis, FP&A allows organizations to:

  • Eliminate spreadsheet chaos and data silos.
  • Focus on strategic decision-making.
  • Align business goals with measurable financial outcomes.

But the path to success requires more than technology. It demands a strategic, phased approach that considers people, processes, and culture.

Read Top 10 Steps for a Successful FP&A Implementation to learn why the best implementations include:

  • Securing Strong Leadership: Every successful FP&A implementation begins with an engaged and empowered executive sponsor. Their support can steer the project and drive cultural alignment.
  • Defining Clear Requirements: A detailed understanding of your organization’s needs is critical. Without clarity, even the best technology will fall short.
  • Phased Implementation: Breaking the project into manageable phases ensures quick wins, sustained momentum, and reduced risks.
  • Emphasizing Ownership: Knowledge transfer is key. Ensure your team is equipped to take full ownership of the system post-implementation.
  • Communicating Effectively: Transparent communication keeps all stakeholders informed, builds trust, and minimizes resistance to change.
  • Partnering with IT: While FP&A is often led by finance, IT plays a vital role in data integration, infrastructure support, and ensuring scalability.
  • Investments in Training: The success of any system depends on its users. Tailored training programs ensure every team member—from power users to casual users—is ready to leverage the system.
  • Staffing Wisely: The right team can make or break your implementation. Carefully choose project managers, solution owners, and functional leads.
  • Closing the Loop: Measure your results against initial goals. Document lessons learned and use them to inform future projects.
  • Choosing the Right Partner: An experienced implementation partner can make all the difference. Look for expertise in your chosen software and a track record of delivering value.

Ready to Get Started?

Download the full whitepaper, Top 10 Steps for a Successful FP&A Implementation, to unlock the strategies for success.

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Workday Adaptive Planning Tips & Tricks: Archived Versions For Data Freeze 2024R2

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What is an archived version in Workday Adaptive Planning?

Archived versions allow the user to calculate and store the values of all calculated and linked accounts in a plan version. This freezes the values and stops them from recalculating as you make future changes to the original model. There is an Archive version checkbox within plan versions that allow for this robust data freeze seen in the screenshot below.

Before archiving a version, you will receive the following warning message.

This feature allows you to modify actual version data, linked account configurations and model structures—such as levels and custom dimensions—without compromising the integrity of leaf-level data in archived versions. The archived version will maintain the calculations and all corresponding data from the point of archiving. 

The new archived version checkbox within modeling and versions replaces the calculate formula values checkbox and locked version. Workday Adaptive Planning plans to eventually retire calculate formula values by the 2026R1 update. 

In the screenshot below you can see that upon archiving a version, Adaptive Planning will provide you with any errors within the newly archived version. 

Example/Use Case

A prime example of when Archived Versions for Data Freeze comes in handy is in a plan version with actuals overlay. Prior to Workday Adaptive Planning adding archived versions feature, you would select calculate formula values in the plan version with actuals overlay. The problem with this option is upon restating actuals data, it reflected the changes made in the actuals portion that was only meant for the plan portion of data in the version. With archive version, you are now able to restate actuals without impacting actuals overlay and save the calculations from the original output.  

Additional Thoughts

Metric and system accounts are not included in archived versions meaning they still calculate. The user can make changes to the original version/ model without impacting the archived version. It will archive the leaf intersection data, not the rollups. You gain improved performance and increased confidence with historical versions. It solves for the restatement of actuals by storing actuals overlay data in the archived plan versions. It won’t change if you make changes in the original model. Actuals overlay data gets stored directly in the plan version. This prevents a restatement of actuals from impacting the archived version. Link account values will be stored at the time of archive and won’t change in the archived version regardless of any changes going forward in other versions.

Revelwood is an award-winning, Platinum Solution Provider for Workday Adaptive Planning. We build solutions for the Office of Finance that minimize your risk by seamlessly incorporating business analytics into your everyday thinking. By combining the software with our best practices and out-of-the-box applications, we help businesses achieve their full potential with Workday Adaptive Planning.

Read more Workday Adaptive Planning Tips & Tricks:

Workday Adaptive Planning Tips & Tricks: Data Validation Rules in Modeled Sheets

Workday Adaptive Planning Tips & Tricks: Workforce Planning

Workday Adaptive Planning Tips & Tricks: Linked Accounts with Link Filter

Home » Budgeting Planning & Forecasting » Page 3

IBM Planning Analytics Tips & Tricks: PAW Selector Menu

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You may already know that you can create a selector widget in IBM Planning Analytics Workspace (PAW) by simply dragging a context dimension outside your existing view. Once synchronized, this approach provides an easy way to create independent selectors that can be used with your existing PAW data pulls.

But what do you do in a situation when you have already hidden your exploration overview or converted your exploration into a chart? One approach is to reset the visualization into a fully expanded exploration, drag the dimension, and re-format the visualization. But did you know that an easier way exists?

PAW version 99 introduced an option to add a selector directly from the data tree (e.g., the left pane). This can be accessed by simply right-clicking on a dimension in the tree. Once selected, there will be two options: add selector tile and add selector list.

There are three types of tiles: single tile, multiple tiles, and range selection tile. There are three types of lists: single list, multiple lists and multiple selection list.

Once created, the properties area will allow you to define appearance aspects such as colors, fonts, and header information.

This approach will allow you to create easy-to-use selectors without having to undo any existing formatting that has been created.

Revelwood is an IBM Gold Business Partner with 25+ years of experience designing, developing, implementing and maintaining IBM Planning Analytics environments. Revelwood has helped clients in all sizes across all industries optimize and grow their use of Planning Analytics. Revelwood’s Planning Analytics team consists of experienced PA experts, including a multi-year IBM Champion.

Stay up to date with PA – sign up for our weekly Planning Analytics Tips & Tricks newsletter, subscribe to our YouTube channel, and join our IBM Planning Analytics All-Stars group on LinkedIn.

Read more IBM Planning Analytics Tips & Tricks:

IBM Planning Analytics Tips & Tricks: PAW Thumb Cell Formatting

IBM Planning Analytics Tips & Tricks: PAW Exploration Icons

IBM Planning Analytics Tips & Tricks: High Availability in Version 12

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FP&A Maturity Assessment: Where Do You Rank?

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There are tangible, concrete benefits to having a mature FP&A process. These include improved decision-making, increased efficiency, agility and responsiveness, enhanced forecasting accuracy and more. 

How do you know if your processes are mature? Here are some key indicators:

  • Data integration and accuracy. You have reliable data sources integrated with your planning environment for real-time analysis.
  • Forecasting and predictive analytics. You use advanced forecasting techniques, scenario modeling and predictive analytics.
  • Cross-department collaboration. Your FP&A team works closely with other departments.
  • Agility and adaptability. You have the ability to rapidly adjust forecasts and strategies in response to changing conditions.
  • Technology-driven automation. You leverage automation tools to streamline reporting, budgeting and forecasting.

Would you like to learn how advanced your organization is at financial planning? Take this short (two minutes!), FP&A Maturity Assessment from Forrester Research. You’ll get customized results and recommendations for your organization.

Home » Budgeting Planning & Forecasting » Page 3

Workday Adaptive Planning Tips & Tricks: Workforce Planning

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Workforce planning has become a necessity for all organizations. It allows human resources (HR) to work alongside Finance professionals to plan the organization’s workforce allocation and to achieve business goals. Unfortunately, most workforce planning models are outdated and lack predictive analytics. However, Workday Adaptive Planning enables organizations to take workforce planning to the next level. 

First, the data needs to be gathered about the workforce. Headcount, pay rate, the level each employee belongs to, benefits, bonus percentage, start and end dates are some categories that are commonly used in workforce planning models. Workday Adaptive Planning can integrate data from directly from source systems, ensuring the data is constantly updated. This is vital for the types of data required for workforce planning. 

Key Capabilities of Workforce Planning in Adaptive Planning

Workday Adaptive Planning lets organizations:

  • Plan workforce using dimensionality that aligns to the organization’s structure. These include some of the categories above and levels, departments, projects, locations, FTE vs part-time employees, and much more.  
  • Model hiring, transfers, and retention plans to understand the implications and to see the cost impact of data updates or changes to key drivers organized by parent organization or cost center.  
  • Use different driver-based scenarios to understand the effect of upstream and downstream to create the best plan possible.
  • Conduct what-if labor analysis on different subjects such as salary increases, bonuses and equity and pool some of those categories together across different business units.   
  • Strategically plan for and model the repercussions of one-time events, such as restructures or M&A activities, regulatory changes, special projects or initiatives, and more.

Security Settings

Workday Adaptive Planning allows administrators to set permissions. Permissions can be given to restrict access based on job roles and responsibilities. These can be assigned at a granular level to ensure that users have access only to the necessary data and functionalities. 

Notably, Workday Adaptive Planning prioritizes security with role-based access controls and granular permissions, ensuring data integrity and confidentiality. By embracing this innovative solution, organizations can optimize their workforce planning processes, encouraging agility, strategic foresight, and resilience for sustained success.

Ultimately, workforce planning is essential for organizational success, and Workday Adaptive Planning revolutionizes this practice by offering dynamic data integration, scenario modeling, and in-depth analyses. The platform’s advanced features enable organizations to align their workforce with business goals effectively.

Revelwood is an award-winning, Platinum Solution Provider for Workday Adaptive Planning. We build solutions for the Office of Finance that minimize your risk by seamlessly incorporating business analytics into your everyday thinking. By combining the software with our best practices and out-of-the-box applications, we help businesses achieve their full potential with Workday Adaptive Planning.

Read more Workday Adaptive Planning Tips & Tricks:

Workday Adaptive Planning Tips & Tricks: Linked Accounts with Link Filter

Workday Adaptive Planning Tips & Tricks: Importing with Ease

Workday Adaptive Planning Tips & Tricks: A Practical Guide to Shared Formula Import

Home » Budgeting Planning & Forecasting » Page 3

Revelwood Offers Online Open Enrollment Training for Workday Adaptive Planning

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We are offering a newly designed, online open enrollment program for Workday Adaptive Planning customers, Revelwood clients and students. Join Revelwood’s seasoned, certified instructors for a live Introduction to Workday Adaptive Planning. This monthly course has two flavors:

  • An interactive course with hands-on exercises and model build components using Revelwood’s custom-built training instance of Workday Adaptive Planning
  • A view-only course for individuals who want to audit the course.

Participants, both Workday Adaptive Planning Administrators and end-users, will start with the basics:

  • Navigation throughout the application
  • Structure design element basics
  • Budget entry in a student-created Operating Expense (OpEx) sheet
  • Model and Cube sheet demonstration
  • Basic report creation using the Matrix reporting writing tool
  • Review of users and roles
  • Basic formulas and utilization of the formula wizard
  • Introduction of the import functionality

Register now

Revelwood’s Workday Adaptive Planning Open Enrollment program will also offer more advanced courses on a quarterly basis. These courses include:

Workday Adaptive Planning customers can take the Introduction to Workday Adaptive Planning & Reporting for $399 for the interactive version and $249 for the view-only version. 

Learn more about Revelwood’s Open Enrollment Workday Adaptive Planning training. If you have any questions about our training program, please email us at marketing@revelwood.com.

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IBM Planning Analytics Tips & Tricks: PAW Workbench Go To Rule

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Have you ever referenced a view in an IBM Planning Analytics workbench and then realized that you also want to look at the rules associated with the cube? You can do this by referencing the left side navigation to scroll through the list of cubes or using the option to show the cube in the data tree, opening the list of components, and then clicking on the rule to open it.

But did you know that there was a quicker way? The “Cube Rules” icon will open the rule as a new tab via a single click from your exploration.

Once opened, you can then move and resize your tabs to show both the view and the rule at the same time.  

This navigational approach saves you development time by performing multiple steps with a single click.

IBM Planning Analytics, which TM1 is the engine for, is full of new features and functionality. Not sure where to start? Our team here at Revelwood can help. Contact us for more information at info@revelwood.com. And stay tuned for more Planning Analytics Tips & Tricks weekly in our Knowledge Center and in upcoming newsletters!

Read more IBM Planning Analytics Tips & Tricks:

IBM Planning Analytics Tips & Tricks: VSTACK_HSTACK

IBM Planning Analytics Tips & Tricks: Slow-Performing Scripts

IBM Planning Analytics Tips & Tricks: Converting a Manual Process to TurboIntegrator Scripts

Home » Budgeting Planning & Forecasting » Page 3

IBM Planning Analytics Tips & Tricks: Slow-Performing Scripts

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This post is the latest post in our new blog series: How We Solve Problems. Each blog post focuses on a real-world client experience where Revelwood was presented with a unique or thorny problem.  We’ll explain our approach to how we solved it.

Revelwood Client: An accounts receivable provider that offers collection and contact center services.  

Planning Environment: IBM Planning Analytics

Problem: This client had a very large model that led to slow-performing scripts and reports. Revelwood analyzed their model and determined that much of the data was associated with historical information that was no longer needed. This included multiple versions of plans dating back to 2015. 

How We Helped: Revelwood worked with our client to determine an asymmetrical approach to removing data (example: keep three years of budget data, one year of forecast data and remove all historical reforecast data) and reordering the dimensions in the model. These changes reduced the four largest cubes from 56% to 70% and removed more than 8.5GB of memory. This optimization led to faster reports calculated in seconds instead of minutes.

Do you have a challenge with your Planning Analytics environment? Let us tackle the problem!

Send us a quick email!

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IBM Planning Analytics Tips & Tricks: PAW Enter Members Feature

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Have you ever created an IBM Planning Analytics Workspace (PAW) exploration and then wanted to look at data that was not in your original set? You can open the set editor and follow the applicable steps, or you can instead simply type the element you want to select.  The second option is done via the use of the “Enter Member” feature in PAW.

For example, if I had a view with a company dimension selector but only had the grand total element in my existing set then I would see the following clickable option:

However, if I know that my model contains a company element called 002 then I can input that directly by selecting “Enter member” within the context area:

You have the option to either enter a single element or a set:

  • When you enter a member using the input box, the current set is ignored, and you can directly use any member. The set then changes to a single member set.
  • If you are selecting a set using the input box, the named set you enter must exist. 

The system will utilize the alias that is currently defined in the existing set, even if you input the element differently. For example, if I input the element called 002 then the system will convert this to an alias called Oldies.

A screenshot of a computer Description automatically generated

becomes…

This approach will speed up your analyses by allowing you to skip the subset editor and directly accessing a new data point.

IBM Planning Analytics, which TM1 is the engine for, is full of new features and functionality. Not sure where to start? Our team here at Revelwood can help. Contact us for more information at info@revelwood.com. And stay tuned for more Planning Analytics Tips & Tricks weekly in our Knowledge Center and in upcoming newsletters!

Read more IBM Planning Analytics Tips & Tricks:

IBM Planning Analytics Tips & Tricks: Convert to Driver-Based Planning

IBM Planning Analytics Tips & Tricks: Excel’s WRAPCOLS Formula

IBM Planning Analytics Tips & Tricks: Fixing Repetitive Scripts

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