Decision Inc. delivers a modern FP&A platform for an international management consulting firm.
Cloud-based financial planning and analytics (FP&A) platform
- Workday Adaptive Planning & Reporting
The client is an established independent IT convergence company that specialises in the delivery of IT services.
The client required a modern technological solution that needed to resolve their forecasting and reporting processes and improved their time spent on manual tasks.
A prominent international consulting firm has achieved the ability to visualise all of their budgets and reports in real-time, spanning across all regions of their operation with a high degree of accuracy.
The client is a management consulting firm with offices worldwide. They are the producers of TRACC, a digital integrative improvement solution that helps manufacturing and supply chain organisations achieve sustainable results through best practices and work process improvement.
Forecasting and reporting processes in the various client regions were isolated and had no integration capabilities. The reports were partitioned and distributed across multiple Excel files, leading to a tedious and time-consuming task of maintaining their accuracy. Furthermore, discrepancies emerged between the global file and regional files, causing misalignment. Additionally, inadvertent deletion of cells containing formulas by users resulted in errors.
Due to the overwhelming number of data points, Excel was deemed impractical for effective planning and forecasting. As a result, the business required a modern technological solution that could resolve these issues and adapt and scale with the business as it grew.
The client approached Decision Inc. for assistance in finding a suitable solution.
Decision Inc.’s specialist data team carefully evaluated the client’s requirements and concluded that the Workday Adaptive Planning & Reporting was the ideal technology fit. Workday Adaptive Planning is a cloud-based financial planning and analytics (FP&A) platform that enables businesses to modernise and improve their financial reporting and planning processes.
The implementation involved several critical steps, including setting up the master data, integrating the platform into other systems such as Netsuite, OpenAir and Salesforce TRACC, configuring the required models such as generic and planning models, and creating the required reports.
The entire system went through a User Acceptance Testing (UAT) process, and once the client was satisfied, the system was moved to a production environment and went operational. Decision Inc.’s specialist trainers provided comprehensive training to end-users to ensure full adoption of the platform.
The Benefits and value realised
Since implementing the Workday Adaptive Planning & Reporting Solution, the client has experienced significant benefits.
» ELIMINATED THE PREVIOUS SILOED APPROACH TO DATA MANAGEMENT, AND INTERLINKED COMPANY’S REGIONS.
The process of entering budget data has become significantly streamlined for Regional Managers, who can now effortlessly input their information, with the added benefit of automatic aggregation for visibility by the global team. Having this data readily available streamlines the reporting process and gives them the ability to do real-time and on-demand reporting.
» SIGNIFICANT REDUCTION IN MUNDANE ADMINISTRATIVE TASKS.
The generation of budgets and reports has experienced a substantial acceleration, with timely insights made readily available to all members of the organisation. Reports can be built at any level of granularity available in Workday Adaptive. These reports have the capability to be analysed in detail, enabling users to uncover specific business insights by drilling down into various layers of data.
» CONSOLIDATION OF DATA HAS RESULTED IN TAILORED FORMATS FOR INDIVIDUALS, DEPARTMENTS, AND ROLES.
The consolidation of data has resulted in the availability of financial results, income statement, balance sheet, cash flows, and other relevant data in summary formats tailored to the needs of individuals, departments, and roles.
Consequently, the client has been able to shift its attention towards strategy and core business operations, alleviating the burden of mundane operational tasks.
In summary, the incorporation of the Workday Adaptive Planning & Reporting Solution has generated substantial improvements in data management, reporting, and overall business efficiency.
About Decision Inc.
Decision Inc. is a global leader in information-driven transformation with a core focus on data, digital and performance intelligence.
Our expertise in technology and industry specialisations have enabled us to help companies around the world make better decisions faster.
Our emphasis on local excellence and global scale enables us to bring clients best of breed technology solutions that enable significant improvement whilst leveraging our Global Research and Innovation teams to accelerate the time to insight. Our local consulting teams are experts in the implementation, support, and execution of these solutions and work with our clients to deliver real results and improvement.