Workday spans finance and HR with real-time planning tool

The new offering taps Workday's in-memory architecture

Workday Planning aims to help users make planning a continuous process.

Workday Planning aims to help users make planning a continuous process.

Workday has long been known for its financial and HR software, and on Tuesday it rolled out a new enterprise offering that spans both areas with a focus on planning, budgeting and forecasting.

Workday Planning is designed to be used in combination with Workday Financial Management and Workday Human Capital Management (HCM). The result is a unified system that allows organizations to continuously create, collaborate and take action on budgets and forecasts without the need for outside tools, Workday said.

A budget generator in the new product, for instance, allows companies to combine historical and budget data with modeling assumptions to generate a baseline budget automatically.

Collaborative planning features, meanwhile, give teams a secure place to create models and scenarios that they can share and edit with operational managers to finalize a budget or forecast. Collaborative worksheets combine familiar spreadsheet features with an interactive grid experience.

Finally, built-in analytics and reporting tools are available to help teams execute on the budget, track actual results, perform budgetary controls and measure organizational performance. Based on that insight, they can then adjust plans and forecasts continuously within the same system. A CFO, for instance, could access a dashboard for a quick view of variances in actual values versus targets, drill down for a better understanding of root causes and then make adjustments accordingly.

Workday Planning is the company's answer to customer demand for such a tool, said Leighanne Levensaler, a senior vice president at Workday. "This was one of our top requests from customers," she said.

The new tool will be generally available next year as an optional add-on to Workday's HCM or Financial Management systems. Pricing details have not yet been announced.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags HRsoftwareapplicationsworkdayFinancial / tax

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Katherine Noyes

IDG News Service
Show Comments

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?