Workday Named a Leader in the 2023 Gartner Magic Quadrant for Financial Planning Software

Company Positioned as a Leader Based on Completeness of Vision and Ability to Execute

Workday, a leader in enterprise cloud applications for finance and human resources, announced it has been named a Leader in the 2023 Gartner Magic Quadrant for Financial Planning Software* for the second time since the category’s inception last year. A complimentary copy of the report is available here.

As business continues to move at an accelerating pace, organizations must plan more frequently using massive datasets and create more scenarios to account for possible fluctuations. More than 6,300 organizations across the globe, including Life Care Services, Ryder System, Inc., Salesforce, Shutterstock, Wintrust, and more use Workday Adaptive Planning to help drive more confident, strategic decision-making faster than ever.

“We believe this recognition is an acknowledgement of our innovation and unique blend of easy-to-use functionality with a system that can handle large data volumes to meet complex modeling requirements,” said Dennis Yen, general manager, Planning, Workday. “With Workday AI embedded into the core of Workday Adaptive Planning, customers can surface real time insights and make faster decisions to keep pace with the speed of business.”

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With Workday Adaptive Planning, customers experience:

The Unique Combination of Powerful Performance at Scale and Ease of Use

Powered by Elastic Hypercube Technology (EHT), Workday Adaptive Planning efficiently calculates complex models by adding memory and compute power as needed, resulting in dynamic, automatic scaling. With this powerful modeling engine, Workday Adaptive Planning supports the most complex, multi-dimensional models without sacrificing speed.

Additionally, a user-friendly experience enables financial planning and analysis (FP&A) teams to configure models on the fly by adjusting dimensions, logic, and formulas as needed, without learning how to program, build scripts, or call in technical resources.

A Platform-Agnostic Solution that Works with Workday and Non-Workday Data Sources

An out-of-the-box, built-in integration framework enables customers to effectively integrate any third-party system of record with Workday Adaptive Planning. These include enterprise resource planning (ERP), customer relationship management (CRM) software, marketing and HR systems, and data warehouses.

Workday was also recently named a Leader in the 2023 Gartner Magic Quadrant for Cloud ERP for Service-Centric Enterprises as customers experience even more benefits in the form of streamlined workflows and a common user experience when Workday Adaptive Planning is connected to the Workday platform.

Workday AI for Data-Driven Insights and Faster, More Informed Business Decisions 

With Workday Adaptive Planning, customers can leverage powerful AI technology without technical expertise as capabilities are designed for ease-of-use. For example, the predictive forecaster within Workday Adaptive Planning uses machine learning to automatically create demand forecasts by quickly analyzing historical and third-party datasets.

Further, a new generative AI capability previewed at Workday Rising will enable users to use conversational text to navigate the system, surface data quickly, uncover insights, and get recommended actions based on those insights.

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cloud applicationsFinancefinancial planningGartnerhuman resourcesLife Care ServicesRyder SystemSalesforceShutterstockWintrustWorkday