New Enterprise Performance Management (EPM) Solution Unifies
Planning with Close and Consolidation Capabilities
PLEASANTON, Calif.,
March 19, 2024 /PRNewswire/
-- Workday, Inc. (NASDAQ: WDAY), a leading provider of
solutions to help organizations manage their people and money,
today announced the availability of Workday Adaptive Planning and
Consolidation, a new solution that brings together the robust and
agile planning of Workday Adaptive Planning with the comprehensive
close and consolidation capabilities in Workday Financial
Management. With this new solution, customers can streamline and
simplify data management, financial close and consolidation,
planning, and financial reporting and analytics.
"Each organization's finance transformation journey is unique –
not every customer is ready for a complete overhaul," said
Terrance Wampler, group general
manager, office of the CFO, Workday. "Now with Workday Adaptive
Planning and Consolidation, Workday is providing another starting
point on the finance transformation journey for organizations that
are hoping to bring efficiency to their financial processes.
Hundreds of customers today use Workday consolidation and planning
functionality together, and we're thrilled to provide this to our
customers as a standalone solution."
Automate and Simplify Enterprise Performance
Management
Workday Adaptive Planning and Consolidation
delivers a unified data model to simplify the process of aligning
data structures, currencies, data flow, and collaboration between
accounting and finance. With Workday Adaptive Planning and
Consolidation, customers can:
- Increase efficiency and speed by reducing the time spent on
collecting and reconciling data with a shared data model that
unites financial reporting and company-wide financial
planning.
- Overcome complexity by automating critical group close and
consolidation tasks with built-in financial controls to ensure
compliance and always-on auditing.
- Empower users with a modern, intuitive experience that
facilitates self-service reporting and data exploration, and the
ability to generate predictive forecasts and surface anomalies with
embedded AI.
"As a multinational, service-centric organization, we require a
single data model for our financial close and planning processes to
drive overall business efficiency," said Joseph Fanutti, chief integration officer, Bill
Gosling Outsourcing. "After we automated these transactions in
Workday, finance managers gained significant time for analyzing
data and offering guidance – in fact, 80% of our finance team's
time is now spent on strategic analysis and delivering true value
to the business."
To help speed their finance transformation efforts and
streamline the implementation of Workday Adaptive Planning and
Consolidation, customers can leverage the deep expertise of
Workday's global partner ecosystem. Early adopter partners include
Abacist Group, Active Cyber, eCapital Advisors, Invisors, Kainos,
and Macrospect, and additional partners will be added in the coming
months. These partnerships are designed to optimize co-creation and
co-innovation between Workday and its partners to deliver greater
impact to customers and the industry.
"We are seeing tremendous growth in the EPM market.
Organizations, worldwide, recognize the value of having access to
the right information at the right time, providing a transparent
and accurate view of financial performance," said Michelle Murphy, consulting emerging ERP leader,
Deloitte Global. "We're excited to see Workday deliver the power of
its platform to the EPM market with Workday Adaptive Planning and
Consolidation. This new solution will help our joint clients
optimize business operations, enhance agility, and unlock
sustainable growth, with a secure financial consolidation process,
configured to be compliant with relevant regulations."
Availability
Workday Adaptive Planning and Consolidation is currently
available for new and existing Workday customers.
For More Information
- See a demo of Workday Adaptive Planning and
Consolidation here.
- Read more about the finance transformation
journey here.
About Workday
Workday is a leading enterprise platform
that helps organizations manage their most important assets – their
people and money. The Workday platform is built with AI at the core
to help customers elevate people, supercharge work, and move their
business forever forward. Workday is used by more than 10,000
organizations around the world and across industries – from
medium-sized businesses to more than 50% of the Fortune 500. For
more information about Workday, visit workday.com.
© 2024 Workday, Inc. All rights reserved. Workday and the
Workday logo are registered trademarks of Workday, Inc. All other
brand and product names are trademarks or registered trademarks of
their respective holders.
Forward-Looking Statements
This press release contains
forward-looking statements including, among other things,
statements regarding Workday's plans, beliefs, and expectations.
These forward-looking statements are based only on currently
available information and our current beliefs, expectations, and
assumptions. Because forward-looking statements relate to the
future, they are subject to inherent risks, uncertainties,
assumptions, and changes in circumstances that are difficult to
predict and many of which are outside of our control. If the risks
materialize, assumptions prove incorrect, or we experience
unexpected changes in circumstances, actual results could differ
materially from the results implied by these forward-looking
statements, and therefore you should not rely on any
forward-looking statements. Risks include, but are not limited to,
risks described in our filings with the Securities and Exchange
Commission ("SEC"), including our most recent report on Form 10-Q
or Form 10-K and other reports that we have filed and will file
with the SEC from time to time, which could cause actual results to
vary from expectations. Workday assumes no obligation to, and does
not currently intend to, update any such forward-looking statements
after the date of this release, except as required by law.
Any unreleased services, features, or functions referenced in
this document, our website, or other press releases or public
statements that are not currently available are subject to change
at Workday's discretion and may not be delivered as planned or at
all. Customers who purchase Workday services should make their
purchase decisions based upon services, features, and functions
that are currently available.
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SOURCE Workday Inc.