Workday acquires Adaptive Insights – How to take advantage of the acquisition?
It has been a few months now since Workday announced the acquisition of Adaptive Insights. The purchase is now completed, and Adaptive Insights is officially a Workday Company.
This is great news for the shareholders of Adaptive Insights (and well deserved), but what does this mean to all the other stakeholders?
Let’s consider the Workday customers first. This is part 1 of a 2-part blog post covering the acquisition and the impact on stakeholders.
All Workday customers will know exactly what Workday offers – HCM and ERP software all delivered through a unified cloud based solution with an interface that customers love. So, what is Adaptive Insights and Why did Workday buy it?
Adaptive Insights is a cloud based Corporate Performance Management (CPM) solution delivered on a single platform with a user interface that customers love. Sound familiar? To be specific, Adaptive Insights customers use the product to prepare the annual budget, perform regular forecasts (rolling forecasts being a common outcome), consolidate results across the entire organisation, produce operational, management, board and external reporting, and perform what-if scenario analysis.
Basically, it reduces the time and effort required to perform all the above tasks while maintaining the process control required by the governing team and delivering the flexibility to be used across the entire organisation. Imagine a reality where all the problems of a large, collaborative, excel based solution are resolved while maintaining the flexibility of Excel. That is Adaptive Insights.
With Adaptive Insights joining the Workday ‘Power of One’ suite, all current Workday customers and those companies considering Workday can add a world class performance management solution to their business. Here are some important facts you need to know;
- Adaptive Insights is replacing Workday Planning as THE corporate performance management solution in the Workday suite.
- The Finance team are typically the custodians of a Corporate Performance Management solution but the entire business needs to get involved if it is to be done properly with meaning – Everybody Plans.
- Adaptive Insights has been implemented with just about every ERP or General Ledger system available and it will continue to be made available and compatible with all ERP’s or GL’s.
- Implementations of Adaptive Insights are relatively quick given the ease-of-use and lack of technical implementation tasks.
- There are very few partners worldwide who support both Adaptive Insights and Workday.
We at GK Horizons understand that it can be overwhelming to process all that information and why it is relevant to your organisation?
So, we have developed a simple Checklist to help you take advantage of the Workday and Adaptive Insights acquisition.
Download the checklist here.
If you already own Workday Planning, please get in touch with us to discuss your options via: [email protected]