Budgeting, Forecasting, Scenario Planning
Workday Adaptive Planning
A worldwide developer, manufacturer and marketer of medical devices was relying on IT support to make updates to the business rules, calculations, and conditions in its on-premise budgeting system. Not only did this result in delays to changes, but it also meant a lack of visibility into budget model assumptions. It also made it difficult to make changes to the system as needed with the speed of business changes.
As a result of moving to Workday Adaptive Planning, this manufacturer has achieved a better budget process at a faction of the cost compared to the millions of dollars and years of investment spent maintaining the on-premise solution. The Finance team is now able to focus on strategic activities such as scenario modeling and analyzing the business impact.
In changing solutions, the company has eliminated significant time that was previously spent verifying calculations and tracing activities. They have improved collaboration and a greater sense of ownership over budgets and forecasts. The Workday Adaptive Planning solution has given the manufacturer an annual ROI of 300% compared to the total cost of ownership of its on-premise enterprise solution.