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Workday

Meet Dino Daddona, Revelwood’s New Vice President of Sales, Americas

December 18, 2024 by Revelwood

Dino Daddona was recently named Revelwood’s vice president of sales, Americas. We sat down with him to learn more about his thoughts on Revelwood.

Q: Why did you choose to join Revelwood?

Dino: The majority of my career has been in roles selling to the Office of Finance. So it was functionally a good fit. More importantly, though, Revelwood is in a unique position in the market. The company is on a rapid growth trajectory and has a legacy of success helping clients transform financial performance and operations. That makes Revelwood a rare find.

Many Revelwoodians have been with the company for many years. That is a sign of a great company. It is a testament to the quality of the leadership, the commitment to individuals’ success and its commitment to the company’s Core Values. 

Q: What do you see as Revelwood’s opportunity in the market?

 Dino: There is a massive opportunity to help companies transform their Office of Finance. According to Gartner’s Magic Quadrant for Financial Planning Software, “Organizations are increasingly seeking efficient, agile planning and management to respond to market changes.” Frankly, nearly every organization now faces “market changes” on a regular basis. This means that companies – and they are many of them – that still use spreadsheets for budgeting and planning need to modernize their finance operations now. 

Workday Adaptive Planning is one of the best financial planning solutions on the market. Revelwood is the leading Workday Adaptive Planning partner in the Americas. Additionally, Revelwood has decades of experience (and awards to prove it!) partnering with IBM. We’ve also received awards from our partner BlackLine.

We are perfectly positioned for exponential growth in the market.

Q: What will you be doing in this new role?

Dino: I’m Revelwood’s first vice president of sales, Americas. I oversee our Sales and Pre-sales teams. These teams are a mix of Revelwood veterans and new team members, some of whom are just entering the workplace. Having a diverse team means that we can leverage both experience and new ideas. 

My role also includes strengthening relationships with our partners. Our partnerships are not just traditional technology “Barney hugs.” We invest in training and certifications from our partners. We’re not generalists – we are experts in technology for the Office of Finance. It’s important that our partners understand how committed we are to mutual success.Learn more about Dino.

Read the press release and check him out on LinkedIn.

Home » Workday » Page 4

Filed Under: News & Events Tagged With: BlackLine, Financial Performance Management, IBM Planning Analytics, Workday, Workday Adaptive Planning

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

December 11, 2024 by Luke Griffie

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 » Workday » Page 4

Filed Under: Workday Adaptive Planning Tips & Tricks Tagged With: Budgeting Planning & Forecasting, Workday, Workday Adaptive Planning, Workday Adaptive Planning Tips & Tricks

Workday Named a Leader in the Gartner Magic Quadrant for Financial Planning Software

December 9, 2024 by Revelwood

FP&A Done Right: Finance’s Role in ESG Reporting

Workday has been recognized as a Leader in the 2024 Gartner® Magic Quadrant™ for Financial Planning Software for the third consecutive year. This year’s Magic Quadrant for Financial Planning Software includes Anaplan, Board, IBM, Insightsoftware, Jedox, Kepion, OneStream, Oracle, Pigment, Planful, Prophix, SAP, Strata (formerly Syntellis), Vena, Wolters Kluwer and Workday.

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The Gartner Magic Quadrant evaluates vendors based on their ability to execute and completeness of vision, classifying them as Leaders, Challengers, Visionaries or Niche Players.

Read a copy of the Magic Quadrant and learn:

  • Market dynamics and key trends
    • Shifts towards agile financial planning
    • Data integration and cross-functional collaboration
    • The rise of artificial intelligence (AI) and predictive analytics
    • Cloud adoption and scalability
    • Focus on user experience
  • Challenges facing the industry
    • Adoption gaps
    • Data silos
    • Balancing customization and standardization
  • Why Workday was named a Leader – strengths
    • Performance monitoring
    • Management insights and dashboards
    • Certified implementations

The financial planning software market is poised for continued growth, driven by the increasing demand for agility, integration and advanced analytics. Vendors like Workday are leading the charge by providing solutions that not only meet today’s needs, but also anticipate future challenges.

For organizations considering a move to modern financial planning tools, the Gartner Magic Quadrant serves as an invaluable resource to identify vendors best suited to their needs and strategic goals. As the market evolves, adaptability and innovation will remain key differentiators in this competitive space.

Read the report. 

Revelwood is dedicated to helping the Office of Finance succeed through the strategic use of technology. We have a nearly 30 year history helping CFOs and FP&A leaders modernize and transform the Office of Finance. Our approach is to focus on your success, speak business first and to leverage best-in-class technology that suits your organization’s unique needs. Contact us at info@revelwood.com to start a conversation on how we can help your Office of Finance be thes best it can be.

More from our FP&A Done Right Series:

Recommendations from the 2024 CFO Study

FP&A Maturity Assessment: Where Do You Rank?

Solving Financial Reporting Challenges

Home » Workday » Page 4

Filed Under: FP&A Done Right Tagged With: Gartner, gartner magic quadrant, Workday, Workday Adaptive Planning

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

October 16, 2024 by Revelwood

In the dynamic world of financial planning and analysis, accuracy and reliability of data are paramount. Workday Adaptive Planning offers robust tools to help organizations achieve precise financial modeling. One feature is the implementation of data validation rules in modeled sheets. These rules act as guardians, ensuring that only accurate and reliable data makes its way into your financial models. In this blog, we will explore the steps to effectively use data validation rules in modeled sheets within the Workday Adaptive Planning platform.

Step 1: Accessing Modeled Sheets

To get started, log in to your Workday Adaptive Planning account and navigate to the modeled sheets. Modeled sheets are the foundation of your financial modeling, allowing you to organize and input data in a structured manner. Once selecting a modeled sheet, the user will have the option to select “Data Validation Rules.”

Step 2: Understanding Data Validation Rules

Data validation rules serve as checks and balances for the data entered into your modeled sheets. These rules help prevent errors and inconsistencies, ensuring the integrity of your financial models. Before setting up rules, it’s essential to understand the different types available, including range checks, conditional statements, and formula-based validations.

Step 3: Creating a New Data Validation Rule

To create a new data validation rule, go to the “Modeling” tab and select “Modeled Sheets.” Choose the specific sheet you want to apply the rule to and click on “Sheet Settings.” Under the “Data Validation” section, click on “New Rule.” Here, you can define the rule type, criteria, and actions to be taken if the data doesn’t meet the specified conditions.

Step 4: Defining Rule Criteria

Clearly define the criteria for your data validation rule. For example, you may want to set a rule that restricts a certain expense category from exceeding a specified percentage of the total budget. Use the available options to set conditions, thresholds, and parameters that align with your financial modeling requirements. Additionally, you can use the expression builder tool to assist with building your expression.

In this example, let’s use the expression builder to build a validation expression that will prevent a user from adding an employee to a Personnel file with a higher salary than 100,000. To do this, we will use the column selector to pick the Pay Rate column in the personnel model, then equals, and less than function.

Step 5: Configuring Actions

In the data validation rule setup, you can configure actions that will be triggered if the entered data violates the specified criteria. Options include warning messages, preventing data entry, or even triggering a workflow for further review. Selecting critical prevents users from submitting invalid data, while selecting warning allows submission but presents a warning message. In our example, let’s select critical to prevent users from adding employees with salaries over 100,000.

Step 6: Testing and Iterating

Once you’ve configured your data validation rules, it’s crucial to test them with sample data. This iterative process allows you to fine-tune rules and ensure they are effectively catching errors without hindering the data entry process unnecessarily. Let’s test our rule in our Personnel model. To do this, let’s return to our Personnel modeled sheet and enter an invalid value.

My invalid data is highlighted in red. If I attempt to save this data, I am prompted with the following message:

This is because we selected the critical action for this rule.

Step 7: Monitoring and Maintenance

Regularly monitor the performance of your data validation rules. As your financial models evolve, update and refine the rules to adapt to changing business requirements. Periodic maintenance ensures that your rules remain effective in safeguarding data accuracy.

Data validation rules in modeled sheets with Workday Adaptive Planning empower organizations to maintain the accuracy and reliability of their financial models. By following these steps, you can harness the full potential of data validation rules, contributing to more robust financial planning and analysis processes within your organization.

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: Workforce Planning

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

Workday Adaptive Planning Tips & Tricks: Importing with Ease

Home » Workday » Page 4

Filed Under: Workday Adaptive Planning Tips & Tricks Tagged With: Data Validation, Workday, Workday Adaptive Planning, Workday Adaptive Planning Tips & Tricks

Workday Adaptive Planning Tips & Tricks: Workforce Planning

October 9, 2024 by Revelwood

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 » Workday » Page 4

Filed Under: Workday Adaptive Planning Tips & Tricks Tagged With: Budgeting Planning & Forecasting, Workday, Workday Adaptive Planning, Workday Adaptive Planning Tips and Tricks, Workforce Planning

Revelwood Offers Online Open Enrollment Training for Workday Adaptive Planning

October 2, 2024 by Revelwood

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 Reporting
  • Introduction to OfficeConnect

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.

Home » Workday » Page 4

Filed Under: News & Events Tagged With: Adaptive Planning, Budgeting Planning & Forecasting, Workday, Workday Adaptive Planning

Workday Named Customers’ Choice in Gartner “Voice of the Customer” for Financial Planning Software Report

September 13, 2024 by Revelwood

News & Events

Workday has placed in the upper right, Customers’ Choice quadrant for Financial Planning Software for its Workday Adaptive Planning solution, with a 96% recommendation rating.

Gartner’s Voice of the Customer for Financial Planning Software covers software that uses reporting, modeling and analytics functions to enable automation of the organization’s financial planning processes. 

Gartner’s “Voice of the Customer” synthesizes Gartner Peer Insights’ reviews. Gartner Peer Insights has published 1077 reviews and ratings for the financial software market. Vendors are then placed in one of four quadrants – Customers’ Choice, Established, Strong Performer and Aspiring. This report covers the following vendors: Anaplan, BOARD International, IBM, Jedox, OneStream, Oracle, Pigment, Planful, Prophix, SAP, Vena, Wolters Kluwer and Workday. 

Here are Gartner’s findings for Workday Adaptive Planning.

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Read the report to learn how Workday’s recommendation rating compare to other vendors in the market.

Home » Workday » Page 4

Filed Under: News & Events Tagged With: Gartner, Gartner Customer Choice, gartner magic quadrant, Workday, Workday Adaptive Planning

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

August 14, 2024 by Revelwood

Linked accounts serve as the backbone of financial modeling in Workday Adaptive Planning. They establish connections between different elements of your financial structure, enabling seamless aggregation and analysis of data across various dimensions. By linking accounts, you can bring data from different models to align for your organization’s reporting and analysis needs. 

Understanding Link Filters

Link filters fall under linked accounts as filters for any dimensionality you have for the model. You can bring in data for specific dimensions you want to see applied to your planning accounts and exclude those you do not. This is especially useful for CapEx and OpEx models where dimensions such as asset type and contract type are used. 

Linking Asset with Link Filter to Income Statement

Let’s use the CapEx model as an example. To have the CapEx model reflect on the GL accounts we will have to do a Link. To link the model data to the GL we will have to navigate to: 

Modeling > GL accounts > “Expense Depreciation – Furniture & Fixtures.” Within that account details > Type = Link > Add 

Select the corresponding model you want to reference as well as the account.

Link the Monthly depreciation with the corresponding asset class in the link filter. In this case, we will apply the filter of Asset Class: “Furniture & Fixtures.” If there is an existing depreciation, link that as well from the capital summary sheet. The GL Account will show the total depreciation amount from the respective capital planning models for just assets with the class “Furniture & Fixtures.”

With linked accounts and link filters, data can be managed efficiently from different models and allows for more flexible and consistent reporting.

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: Importing with Ease

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

Workday Adaptive Planning Tips & Tricks: Capital Summary Sheet – New & Existing Depreciation

Home » Workday » Page 4

Filed Under: Workday Adaptive Planning Tips & Tricks Tagged With: Adaptive Insights, Workday, Workday Adaptive Planning, Workday Adaptive Planning Tips & Tricks

Multi-Site Healthcare Organizations Rely on Workday Adaptive Planning

June 28, 2024 by Revelwood

The market for the multi-site healthcare industry is booming due to population growth, aging demographics, increasing healthcare needs and advancements in medical technology. There is continuing demand for convenient and accessible healthcare services provided by these organizations, which are often funded by private equity firms or joint ventures.

One of the biggest challenges facing multi-site healthcare organizations is scaling operations. They are often faced with a breakdown between operations and general and administrative (G&A) functions. This is particularly an issue with financial planning and analysis (FP&A), which includes budgeting, planning, forecasting and reporting.

Helping these multisite healthcare organizations with their FP&A processes and technologies is one of our specialties. Our team at Revelwood has worked with many of these organizations to transform their businesses. Here are just a few examples.

Dental

One of our clients is a dental organization with more than 240+ affiliated dental practices across 15 states. The organization provides centralized management and shared G&A services. We built a specialized, custom Workday Adaptive Planning-based FP&A solution that included:

  • Creating a dentistry operations model with volume-based modeling between dentistry and hygiene practices
  • Creating an orthodontics model with 24-month uneven revenue recognition including historical revenue and actuals
  • Building models for patient and volume-based revenue and staffing logic
  • Integrating Great Plains and PowerBI with Workday Adaptive Planning

Eye Care

Another Revelwood client is a leading provider of clinically integrated eye care, with a national network of over 700 optometrists, 300 ophthalmologists and a total workforce of 6,000 people. It has more than 700 affiliated practice locations with services that span the eye care continuum in 18 states and in 30 markets.

Revelwood built a customized, multisite healthcare budgeting and forecasting application for this organization. The solution included:

  • Assessing the data sources and incorporating a new SAP chart of accounts (COA)
  • Developing a plan to extract the data, re-map it and re-load it
  • Building distinct models for its optometry and ophthalmology practices
  • Creating models to enable budgeting and forecasting across locations, including number of patients, number of exams, number of operating days, historical price and rate inflation

Urgent Care

One of our clients is a recognized leader in health system urgent care joint-ventures. It is a physician-owned, physician-driven company committed to providing convenient access to quality, cost-effective healthcare services through a retail urgent care delivery model. 

Revelwood built a Workday Adaptive Planning FP&A system for the organization. The solution incorporates:

  • Corporate-level workforce planning for 250 full-time employees
  • Revenue forecasting by clinic, including per visit using historical averages, factoring in seasonality and different reimbursement rates
  • Comprehensive internal and external reporting, including reporting on budget versus actuals, department levels, income statements and more
  • An integration with Intaact

Learn more about how we are helping multi-site healthcare organizations. 

  • Workday Adaptive Planning Facilitates Strategic Forecasting for Bay Cove Human Services
  • LEARN Behavioral Modernizes FP&A with Workday Adaptive Planning
Home » Workday » Page 4

Filed Under: Workday Adaptive Planning Insights Tagged With: Healthcare, Workday, Workday Adaptive Planning, Workday Adaptive Planning demo

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