VEIC has trusted Strada with every major Workday Adaptive Planning initiative they undertake. From initial implementation to a major model overhaul, to monthly financial forecasting, Strada has delivered. Strada’s deep expertise allowed them to meet every challenge thrown their way – they are the best Adaptive Planning partner in the business.
Budget and Financial Planning team
VEIC
The approach to improving budget process
The VEIC finance team, with the guidance and expertise of Strada, deployed Workday Adaptive Planning for their corporate forecasting budget process. The driving force behind the decision was the accuracy Workday Adaptive Planning provides over error prone spreadsheets as well as these key factors:
- Central solution for budget and forecast stakeholders to access anytime & anywhere
- Cloud-based architecture, minimal IT involvement
- One place for leadership to see roll ups and access reports
- Flexible enough to accommodate changes
Strada was a perfect partner when VEIC transitioned financial forecasting into Workday Adaptive Planning. Strada took the time to understand VEIC’s unique set of requirements. The end result was a polished model, a refined suite of tools and reports, as well as a solid and trusted process.
Budget and Financial Planning team
VEIC
The results
VEIC has reported impressive results since going live. Financial literacy across the organization has increased along with improved collaboration and stakeholder involvement in the budget and forecast process. VEIC now plans and strategizes around problems spotted in the forecast and has more robust scenario modelling for “what ifs”. The VEIC leadership team benefits from better decision-making made possible with more accurate and consistent financial reporting.
Additional benefits of streamlining budget process
- Better, faster, and more accurate budgeting and forecasting
- Company-wide actual-to-forecast and actual-to-budget variance reporting
- Improved reporting for the Senior Leadership Team, and ultimately, the Board of Directors
- Financial Results Packets are produced in hours, instead of days
- Cut several days out of the monthly reporting process and annual budgeting process
Workday Adaptive Planning has taken VEIC’s financial forecasting to the next level. It has increased velocity – we are now able to quickly and easily provide meaningful forecast updates every month. It has increased financial data visibility and literacy throughout our organization through easy to digest reporting. Lastly it has reduced variability because we now have headlights on potential future issues allowing us to shape our future instead of reacting to surprises.
Budget and Financial Planning team
VEIC
Why Strada?
Having been a Workday Services partner since 2008, we have completed more than 600+ Workday Adaptive Planning projects. Our award-winning team is focused on helping organizations increase profitability and business performance by providing exceptional financial, operational and systems expertise.
