In today's fast-paced and uncertain business environment, organizational agility is crucial. Companies must be adaptable and strategic, especially in financial planning and analysis (FP&A). However, data silos, disconnected plans, and manual processes hinder rich analysis for strategic decision-making.
Embracing Modern Planning Tools for Enhanced Agility
On the other hand, more than 6,000 organizations worldwide are utilizing Workday Adaptive Planning for a range of operational planning activities, including financial and workforce planning, as well as sales, demand, and project planning. The advantages are impressive. A remarkable 93% of Workday Adaptive Planning customers have reported a significant boost in planning cycle times, with an acceleration of 30% or more.
The Power of Strategic Transformation
Harvard Business Review Analytic Services explored how finance leaders are transforming their planning processes to create more business value. The results are enlightening. By leveraging modern planning tools, executives have managed to generate significant improvements in business performance, efficiency, and growth.
A study by Harvard Business Review Analytic Services found that 70% of organizations using modern planning tools significantly improved their strategic decision-making capabilities.
In a survey by Workday Adaptive Planning, over 80% of customers observed a 20% increase in operational efficiency after implementing modern planning tools.
The data also revealed a 30% reduction in time spent on data consolidation, allowing more time for strategic analysis for 55% of respondents.
A staggering 93% of Workday Adaptive Planning users reported faster planning cycle times, with over half experiencing a 30% or greater reduction. This enables quicker response to market changes and strategic opportunities.
Modern Planning Tools: A Game Changer for Business Agility
HBR's research reveals that 72% of surveyed executives experienced major changes that significantly altered their business plans due to the pandemic. When it comes to enterprise planning, key attributes such as flexibility, adaptability, and data-driven processes were rated as highly important by at least 80% of respondents. However, a significant disconnect exists between the importance attached to these attributes and the extent to which organizations are achieving them in their current planning.
The Future of Planning
The research underscores a clear trend towards the adoption of modern planning tools. Nearly all (91%) respondents agree that using modern planning tools can help their organizations be more flexible and adaptive in their planning. Furthermore, 58% plan to increase their investment in enterprise planning tools over the next 12 months.
Here are some suggested next steps:
Understand your business needs: Conduct a thorough analysis of your organization's goals and challenges to determine how Workday Adaptive Planning can best support your FP&A process.
Customized solution design: Tailor a solution that aligns with your specific requirements, leveraging the expertise of our skilled Workday Adaptive Planning consultants.
Implementation and integration: Seamlessly integrate Workday Adaptive Planning into your existing systems and processes, ensuring a smooth transition and minimal disruption.
Training and support: Provide comprehensive training to your team, empowering them to maximize the benefits of Workday Adaptive Planning. Ongoing support is also available to address any questions or concerns that may arise.
Continuous improvement: As your business evolves, our consultants will work closely with you to optimize your FP&A process, ensuring that it remains aligned with your changing needs and objectives.
Partner with our top-tier Workday Adaptive Planning consultants for expert advice and tailored solutions that will modernize your FP&A process and drive business growth.