Workday, which provides enterprise cloud applications for finance and human resources, has introduced a new planning, budgeting and forecasting application called Workday Planning.
When combined with Workday Financial Management and Workday Human Capital Management, Workday Planning offers financial and workforce planning in one system. The new solution is designed to allow stakeholders across an organization to collaborate on planning, and also allows for live updates and changes to plans on a continuous basis as new data comes in.
Workday Planning offers ad-hoc forecasting, the ability to collaborate with HR to determine the best staffing models, and tools to optimize the management of expansion strategies and cost.
“Customers have asked us to get into planning for the past couple of years,” Leighanne Levensaler, senior vice president of product, told Accounting Today. “So we set out to understand problems in the planning area. The number one priority CFOs have today is financial planning and analytics … we didn’t check the box and replicate what was already out there. Workday Planning reimagines planning, budgeting and forecasting and provides live data, a transaction system, and a collaborative experience.”
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