All posts by Shearwater Asia

Living in the modern era means witnessing a surge of new businesses, from successful startups like Ninja Van to successfully establishing an empire like Genting Group. On the surface, doing business is typically misdefined as “easy money”; many seek to have their own business because of it. On the contrary, we often witness businesses going downhill due to many familiar factors, like poor financial management, failure to adapt to rapid market changes, and improper business planning.

In the dynamic landscape of modern business, strategic planning is the heartbeat of success. The aforementioned factors can be addressed by constructing strategic planning before embarking on a new venture. Getting on a business venture is an exciting prospect, filled with opportunities and potential for growth. However, the journey to success requires careful navigation through the complexities of the business landscape. One of the fundamental pillars supporting this journey is strategic financial planning.

The Intangible Importance of Financial Planning

Efficiently Allocate Resources

Strategic financial planning entails calculating estimated operational costs, allowing for effective resource allocation. This process enables companies to determine the necessary capital and allocate resources accordingly. Whether it’s funds for marketing, research and development (R&D), or staffing, a well-structured financial plan ensures that resources are aligned with the business’s objectives.

Budgeting and Forecasting for Financial Health

Financial planning includes meticulous budgeting and forecasting. Anticipating the inflow and outflow of funds is crucial for ensuring liquidity for the whole operation. Proper cash flow management is instrumental in preventing financial crises while maintaining financial health.

Business and Sustainability

Strategic financial planning is not merely a short-term fix; it’s about ensuring the long-term sustainability of the business. It aids in setting realistic financial goals, identifying key performance indicators, and establishing a roadmap for achieving profitability and financial stability over time.

Adaptability to Dynamic Business Environments

Business environments are dynamic, and unforeseen circumstances can impact operations. A robust financial plan enhances a business’s adaptability. It provides a framework for making informed financial decisions in response to changing market conditions, regulatory shifts, or unexpected events, ensuring resilience in the face of uncertainty.

Make Informed Decision-Making

Finally, financial planning is integral to make informed decision-making. It offers a basis for evaluating different options and choosing the most financially viable and sustainable path. Aligning financial goals with overall business objectives becomes essential for making informed and strategic decisions.

A Paradigm Shift

We now know about the importance of financial planning, and usually it involves a painstaking process leading to FP&A teams having to navigate through arduous tasks like data aggregation, reconciliation, and error-prone reporting. Prior to the emergence of AI software like Workday Adaptive Planning, many would grapple with reliance on time-consuming spreadsheets and manual workflows. The conventional system imposes limitations on the process and frequently hampers efficiency.

AI-Embedded Software to Address Challenges

Breaking Free from Spreadsheet Shackles

Gone are the days of relying on cumbersome spreadsheets and manual processes for financial planning. AI-embedded software liberates you and your teams from the shackles of outdated solutions, ushering in streamlined processes. An even more decent software provides you with a user-friendly interface that can resolve the challenges typically associated with legacy planning systems.

Streamlined Processes

By implementing AI-embedded software, streamlining processes is not a negotiable act; rather you can effortlessly achieve it and make informed decisions that add significant value to the company. This seamless transition will enable FP&A teams to dedicate more time to accurately analyse data, leading to an increase of productivity too. Beyond that, organisations can realise cost optimisation and efficiency gains across the board, ultimately maximising their return on investment (ROI).

Workday Adaptive Planning: A Transformative Journey

Enhanced FP&A Productivity

Workday adaptive planning slashes the time spent on tedious tasks, which allows FP&A teams to channel their energy into impactful analysis. The result? A staggering 20% improvement in productivity, a figure that grows from 10% in Year 1 to an impressive 20% by Year 3, translates to a substantial $664,000 in savings over three years for the forward-thinking organisation.

Boost Workflows Efficiency

Workday Adaptive Planning introduces new data modelling and planning processes, streamlining cost planning and enhancing the clarity of processes. Teams across the organisation will spend less time on lower-impact cost planning and benefit from streamlined headcount planning.

Liberating FP&A from IT Constraints

Most AI-embedded software is cloud-based, which means liberating your teams from the shackles of IT reliances. Your teams will not be constrained by the need for designated IT support (which sometimes can slow the progress). The freedom from a conventional on-premise system would allow your teams to channel their expertise into strategic financial planning and foster a more agile workflow. 

Building Trust Within the Organisations

With improved data quality and increased time allotted to analysis, the FP&A team becomes a trustworthy source of information within the organisation. The availability of accurate data and insightful analysis becomes the standard, which helps to foster greater organisational trust in the FP&A process.

Final Thoughts 

Timing holds the key to success. That is why timing is everything in making decisions. Workday Adaptive Planning goes beyond just providing data; it actually improves the quality and accuracy of it. It isn’t just a software solution; it’s a transformative force that redefines the landscape of FP&A. With its powerful scenario modelling capabilities, businesses are empowered to make faster and more informed decisions. With that being said, you are not just adapting, you are thriving in the era of intelligent financial planning.

Experience Workday Adaptive Planning Today.

Defining Enterprise Performance Management (EPM) 

Since businesses have unequivocally embraced cloud computing, it became evident that the era of on-premise enterprise performance management (EPM) software was numbered, and the future of EPM would reside in the cloud.

This has presented a formidable challenge for legacy EPM providers as they grapple with transitioning themselves and their clients away from their on-premise roots. In recent years, they’ve experienced a seismic shift in the landscape, driven by enterprises seeking the cloud’s benefits, such as seamless deployment, scalability and cost-efficiency.

EPM is often referred to as the compass of business excellence. By meticulously comparing actual results with forecasts and goals, it acts as your guiding star, illuminating the path to greater success.

So, why should businesses pay heed to the importance of cloud-based EPM? Let’s dive into it and explore how it can be your ultimate game-changer.

What is EPM Software?

EPM (Enterprise Performance Management) and CPM (Corporate Performance Management) are closely related concepts, each offering unique focus and benefits. While they share a common foundation, CPM zeroes in on enhancing performance management for finance teams across organisations, whereas EPM casts a broader net. It encompasses the entire enterprise — spanning from finance to sales, human resources, marketing, and other departments. Moreover, EPM doesn’t just end at implementation; it calls for periodic adjustments through rolling forecasts to keep budgeting assumptions up to date throughout the year.

But what really amplifies the value of EPM? The secret sauce lies in its modern planning features and functionality. Many businesses might hesitate to part ways with their ageing EPM solutions, fearing the process would be costly and complex. However, the reality is that today’s modern planning systems have transformed the upgrade journey into a cost-effective and easily manageable endeavour.

EPM is the key to enhancing an organisation’s financial performance and operational efficiency through data-driven planning. Encompassing all facets of an organisation, from systems and processes to day-to-day activities and insightful reports.

Are EPM and CPM Similar to ERP?

These two terminologies can often get a bit tangled. You might have heard it mentioned alongside CPM, or Corporation Performance Management, and, on occasion, mistaken for ERP (Enterprise Resource Planning). 

Let’s start with EPM and CPM. They are two peas in a pod, often working hand in hand. When these two powerhouses come together, they create a dynamic duo. But don’t be fooled; distinctions between them are crucial to understand.

CPM is your go-to for managing the day-to-day operations. It’s the engine that fuels your business, capturing transactional data and handling those essential daily tasks. On the other side of the spectrum, we have EPM, the strategic visionary of the business world. EPM zooms out to focus on the bigger picture, diving deep into business analysis and reporting.

In short, while EPM and ERP may seem confusing, they each have their unique role in your organisation. Understanding their differences and harnessing their synergy can lead to more accurate reports and forecasts, ensuring your business is set up for success.

How EPM Adds Benefits to Your Organisation?

It’s surprising that some organisations still rely heavily on Microsoft Excel for data collection, validation, budgeting, forecasting, and reporting. The keyword here is “heavily relies on”. These legacy processes are time-consuming and riddled with errors, sometimes forcing employees into a perpetual reactive mode and leaving them with little time for strategic initiatives.

The Question Remains, Is it Time to Adopt EPM? 

So, what’s the real impact? Here’s why you must embrace modern, cloud-based EPM solutions to transform your operations and financial outcomes.

Efficiency in Decision-Making

Imagine your organisation making swift, data-informed decisions without the hassle of managing intricate spreadsheets. Modern EPM solutions streamline data collection, validation and analysis, enabling your team to focus on value-adding activities like monthly forecasts and strategic partnerships.

Eliminate Errors and Save Time

Bid farewell to the days of spreadsheet-induced errors that derail your financial plans. EPM software reduces errors and significantly cuts down the time spent on routine tasks, liberating your team for more productive pursuits.

Unlock Strategic Potential

Cloud-based EPM solutions let you explore the “what-if” scenarios, uncover insights, and build strategic partnerships. The ability to model various scenarios and make data-driven decisions ensures your organisation remains agile and forward-thinking.

The Workday Adaptive Planning Platform 

Not all solutions are created equal. Let’s delve into the compelling reasons why business leaders and financial experts are opting for Workday Adaptive Planning.

Rapid Deployment for Swift ROI (Return-on-Investment)

Workday Adaptive Planning outpaces the competition with its remarkable deployment speed. In as little as 4.5 months, even the largest global corporations witness a substantial return on investment. This means you can start reaping the benefits of Workday Adaptive Planning’s capabilities faster than you ever thought possible.

Managing Large Amount of Data

Data is the lifeblood of modern financial planning and analysis (FP&A), but it can become a double-edged sword when it overwhelms your team. Workday Adaptive Planning steps in to handle the ever-expanding data volumes, transforming information into actionable insights. 

User-Friendly Visual Analytics

Workday Adaptive Planning paves the way for a more collaborative and insightful environment. Visual analytics provide accessible insights through self-service enterprise reporting and dashboards. This easy-to-interpret data is readily shareable, allowing anyone to view the dashboard. 

Elevating Business Agility

Adaptability is the cornerstone of successful businesses, especially in times of economic uncertainty. Workday Adaptive Planning equips FP&A teams with scenario planning capabilities. Quickly craft what-if scenarios, build iterative models, and report results with precision. This dynamic approach ensures your organisation can navigate change, budget using real-time data, and make informed decisions. 

Streamlining Critical Planning Processes

Workday Adaptive Planning automates these crucial financial planning processes, accelerating reporting cycles while guaranteeing accuracy. Automated updates and security patches enhance the user experience and adoption. With Workday Adaptive Planning, your finance teams can focus on high-value analysis and strategic decision-making.

Unparalleled Data Security

Security is non-negotiable, and Workday Adaptive Planning delivers world-class encryption and compliance. Rest easy knowing that your sensitive data is safeguarded around the clock in a proven multi-tenant environment. It continuously monitors systems, providing peace of mind in an age of data breaches.

In a nutshell

It has become imperative for businesses to give a final goodbye to legacy or subpar EPM solutions. The road to sustainable success now lies in adopting a genuine cloud-based planning solution, exemplified by Workday Adaptive Planning. This cutting-edge solution equips you with the tools you need to effortlessly adapt. In doing so, you are not merely compiling numbers but actively steering the ship toward strategic excellence. 

Experience Workday Adaptive Planning Today.

As we continue to support our customers’ digital transformation journey, we are constantly seeking ways to help them understand the value of an Enterprise Resource Planning (ERP) system. At the same time, we strive to adequately showcase our product’s capabilities and our ERP implementation team’s expertise so that customers prioritise us when making decisions on selection and project initiation.

But, how can we effectively communicate the advantages of ERP to our clients?

Picture this scenario: My boss frequently tells me that our messaging should be clear, professional, and interesting and convey what value we can provide our customers. Otherwise, customers might not find it appealing.

You see, my boss has quite a lot of expectations.

Like constructing effective copywriting, a management system like an ERP must also meet numerous business demands. It needs to be:

a. Flexible

b. Expandable or scalable 

c. Customisable

d. Have a comprehensive functionality

e. Empower business growth 

f. Embedded business intelligence 

g. Satisfy financial needs 

h. Cater to sales and operational requirements

i. Can support logistics and supply chain demands and even cross-border international requirements. 

From this perspective, businesses have even more requirements for a high-quality ERP than my boss has for quality copywriting. 

As a business decision-maker, you must be able to comprehend why deploying ERP is a crucial step. Consider the following points: 

a. The challenges of integrating finance and operations

b. The lack of real-time visualised business data

c. The errors and time-consuming manual processes

d. The demanding audit requirements and, 

e. The high risks associated with international tax compliance and budget planning.

However, implementing an ERP system can be tricky. Think about your outdated ERP system with scanty features, poor user experience, and inaccurate data — all these can severely hinder your ability to make informed business decisions. 

This is why choosing the appropriate product and having a skilled project implementation team are critical factors that every business leader must consider to make sound decisions. What’s more, without a proficient team to implement the project, you will be left with high maintenance costs, outdated technology, and subpar operational services that significantly impact the value of your ERP implementation project.

You may now realise the significance of high-quality software and a competent project implementation team to address these challenges. These issues require a reliable solution, and a skilled team can provide precisely that.

Businesses not only have a multitude of demands for selecting and deploying a high-quality ERP but very high expectations, too. 

Yes, it’s as high as our boss’s demands 😉

Let’s compare this situation in crafting good copywriting. 

There was a time when we immersed ourselves in the sea of refining promotional copy and packaging proposals. We took it very seriously, ensuring every word and sentence conveyed the reading experience and tangible value our target customers needed. 

Throughout this process, the sales, implementation, and even customer support teams joined in this copywriting effort. Gradually, everything we accomplished, from small copywriting tasks to launching every single project, was results-oriented and efficient. It improved the quality of our work and delivered the value that customers urgently needed.

Choosing a highly skilled implementation team is essential. Settling for the best quality ERP solution is even more critical. 

Here are our recommended solutions to consider whether you seek to implement ERP or EPM systems

Oracle NetSuite

Oracle NetSuite helps organisations streamline critical business processes, focus on the things that matter, and create more value while responding quickly to market changes and capturing future business opportunities with agility. From financial management to supply chain management to billing management, NetSuite Enterprise Cloud ERP software empowers businesses with powerful momentum to accelerate growth and ongoing innovation.

BlackLine

It is a cloud-based financial and accounting software that helps unify systems and data on a single cloud platform and modernises the bookkeeping process for businesses by automating bank reconciliation and other manual procedures.

Workday Adaptive Planning

Providing budgeting, forecasting, reporting, and analysis solutions for businesses of various sizes. It boasts industry-leading accessibility along with the security, scalability, and flexibility required for complex planning. It seamlessly connects to any ERP/GL or other data sources, allowing business teams to easily access financial information, enhance data analysis, and make faster decisions.

Final Words

Taking a strategic and well-structured approach is crucial to ensure that every stage focuses on achieving results and maximising efficiency. Ultimately, the success of your ERP project hinges on making two key decisions: selecting a highly skilled implementation team and choosing the best ERP solution. These choices cannot be overemphasised as they will dictate your ERP project’s impact on your business.

The selection and implementation of an ERP system bear striking similarities to crafting good copywriting. Both endeavours carry high expectations, demanding precision and attention to detail. Businesses grapple not only with various demands but also with lofty expectations. Well, much like the exacting standards set by our bosses.

Get a Quick Estimate on the Cost of ERP Investment.

Finding the right partners to implement ERP is important for a successful integration of enterprise management systems. With over 14 years of experience, our team has a strong track record in consulting, planning, implementing and developing these systems. Our presence extends across countries, including Singapore, China, Taiwan, Indonesia, Japan, Malaysia, Thailand, and South Korea. Get in touch with our local team to get an estimated cost for our solutions.

Large organisations in today’s fast-paced business environment require a robust planning platform to navigate economic fluctuations, shifting consumer behaviour, and market volatility without compromising user experience. Forward-thinking financial leaders understand that effective planning leads to enhanced agility, but outdated financial planning and analysis (FP&A) processes can hinder progress. Lengthy decision-making cycles, organisational silos, and manual tasks drain productivity, leaving many corporations struggling to keep pace. Enter cloud-based modern planning solutions and strategic tools, empowering entire organisations to adapt rapidly to changing circumstances, even amidst radical instability and disruption.

However, not all planning solutions are created equal. Large businesses, in particular, need a planning platform capable of handling complex, multidimensional models without sacrificing speed while supporting a wide range of users. Workday Adaptive Planning stands out as a meticulously designed solution to meet the evolving demands placed on businesses, especially as they navigate intricate scenarios and incorporate input from various functional areas within their organisation.

Unlock Deeper Insights with Large, Complex Models

Organisations are employing planning models to gain deeper insights into revenue, workforce projections, and various scenarios. They are also harnessing more operational data, both internally and from external benchmarks to improve plan accuracy. The integration of cross-functional data from human resources, sales, marketing, project management, labour, and other sources has become crucial to evaluating the impact of strategic plans and scenario analyses.

As organisations increasingly leverage artificial intelligence (AI) and machine learning (ML) to enhance forecast accuracy, finance departments are incorporating novel external datasets, including labour statistics and marketing insights.

These factors have led to more extensive planning templates and reports. Workday Adaptive Planning enhances value by automatically scaling memory and computing power when needed, ensuring rapid response times for analytics, calculations, and data updates. It supports virtually limitless dimensions and complex planning and scenario analytics versions.

Scale Seamlessly to Meet Your Needs

Furthermore, it allows a large number of concurrent users to access and analyse data during critical periods while maintaining essential data and dimensional security for individual planners. This is especially critical as stakeholders from across the organisation actively participate in enterprise planning, such as workforce planning, which involves collaboration between HR, finance, operations, and IT to create adaptable workforce plans.

Seize the Opportunity for Transformation with Modern Planning

With the right planning technology, FP&A, HR, and operational teams can elevate their organisation’s planning by gaining multidimensional insight, utilising operational data, and collaborating with stakeholders for optimised business forecasting. A modern planning solution that prioritises performance and scalability incorporates modelling intelligence and lays the foundation for future capabilities like AI and ML, guaranteeing success in managing planning complexities. In summary, the gap is widening between top-performing businesses that proactively plan for change and those that merely react.

Make the smart choice today and empower your organisation to thrive in an ever-changing business landscape with Workday Adaptive Planning’s advanced cloud planning solutions.

Experience Workday Adaptive Planning Today.

In today’s fast-paced and unpredictable business environment, the ability to stay nimble, foster innovation, and control costs has become the defining factor for companies. To achieve our goals, we must embrace scenario planning, continuous planning, and rolling forecasts. These powerful tools allow us to stay ahead of the curve and make informed decisions based on real-time data. Let’s explore their pivotal role in driving success.

Embracing Modern Finance: A Digital Transformation Imperative

In response to ongoing economic uncertainties, forward-thinking finance leaders are increasingly prioritising finance digital transformation to empower their organisations with rapid adaptability. Traditional planning solutions no longer suffice, lacking the flexibility required to navigate today’s dynamic business landscape. The rigidity and isolation inherent in yesterday’s financial planning and analysis (FP&A) tools have become a significant disadvantage in today’s world.

Acknowledging this paradigm shift, CFOs and finance leaders are placing a greater emphasis on scenario planning and what-if analysis. The role of finance has evolved significantly, particularly in the wake of the pandemic. Traditional approaches are no longer adequate to address current challenges.

Scenario planning emerges as a strategic approach that equips organisations with the ability to prepare for uncertainty. It empowers finance teams to visualise potential future scenarios and build the agility necessary to navigate these scenarios effectively. The capacity to anticipate various outcomes and assess their financial implications is a game-changer in the modern business landscape.

Scenario Planning and What-Ifs Analysis: A Strategic Vision

Scenario planning emerges as a strategic approach to prepare organisations for uncertainty, enabling finance teams to visualise the future and build agility to drive the company forward effectively. The ability to anticipate various scenarios and their financial implications is a game-changer in the modern business landscape.

Continuous Planning and Rolling Forecasts

In addition to scenario planning, continuous planning and transitioning from annual planning to rolling forecasts are pivotal in achieving business agility. Unlike static and outdated planning methods, rolling forecasts operate on a regular basis, ensuring that plans remain up-to-date. This allows organisations to maintain a constant competitive edge by adapting to changing circumstances.

From Yearly Plans to Rolling Forecasts: A Paradigm Shift

The traditional notion of creating a yearly plan is evolving into a more dynamic rolling forecast approach. This shift enables organisations to understand real-time demands, risks, and opportunities. CFOs and finance leaders must recognise the growing importance of shorter-term forecasting as an integral part of strategic analysis.

Surviving in an Ever-Changing Environment

In an ever-evolving world that demands constant adaptation, the imperative is clear: swift and flexible action is not just an option but the foundation of success. Countless businesses have already uncovered the transformative power of embracing a culture of modern planning, and it’s time for us all to recognise that this is the key to not only surviving but thriving in the relentless waves of change that define our era.

So, let’s actively engage in the journey towards agility and innovation. In this culture of adaptability, we’ll discover our greatest opportunities for growth and resilience. Unlock the potential of scenario planning, business agility, and continuous forecasting in today’s business landscape. Stay ahead of the curve and navigate uncertainty with confidence. These strategies are the key to sustained success in our ever-evolving world.

Experience Workday Adaptive Planning Today.

Running a business, be it of any size, small or big, is not easy at all. You have so much to manage, and for that, you stay involved in dealing with a large number of Excel spreadsheets, leaving no time to spend on analysing your performance. Not anymore, as Workday Adaptive Planning helps with all, be it intuitive budgeting, forecasting, planning, reporting, and dashboards.

Here is a sneak-peak into Workday adaptive planning main functions:

1. Consolidation

2. Budgeting and forecasting

3. Reporting

4. Process Tracker

5. Dashboards

6. Integration

Many organisations from various industries leverage the benefits of Workday, such as technology, manufacturing, healthcare, finance, education, and retail, and make the most out of their work. It is a perfect choice when you require top workforce management tools, especially if you own a company with 250 to 1,000 employees.

What makes Workday adaptive planning functions enables you to quickly model the most intricate scenarios so you can keep up as your company grows — all without keeping your performance at stake.

A few benefits of Workday Adaptive Planning

1. Smooth Workforce Management

2. Easy Revenue Management

3. Flawless Expense Management

4. Manages Expenses & Revenues

5. Improve Cash Flow

Shearwater can be your helping hand if you are looking for ways to operate your business smoothly and hassle-free. The best part is, if you use Workday Adaptive functions with Shearwater, your data is always up-to-date and relevant, and the interactive dashboards you make and share are updated, too.

Through unique solutions and resources, the platform offers all you need to get more functionality in your industry and make the most of your data by

• Helping you save time by automating planning and execution functions
• Allowing you to make better decisions
• Empowering you with easy-to-use technology

Being a leading and popular platform, it offers consulting and technology solutions while contributing to the growth and development of customers. Its adaptive functions make working easy for companies, and no more juggling with Excel spreadsheets is required, which means you can easily contribute your time analysing your performance and growth.

Experience Workday Adaptive Planning Today.

Running an organisation successfully is not easy. You need the right planning with an absolute pace to keep up with business priorities and discover new opportunities. However, relying on spreadsheets and old planning platforms may not let you adapt to the dynamic nature of your business.

Besides, you’ll have a plan that’s way out of sync with corporate and finance plans. That’s the reason most people are using workday adaptive planning solutions. It allows finance, HR, and business leaders to plan collaboratively — and rapidly put those plans into motion.

With Workday Workforce Management, one can model the optimal workforce, standardise plans over business units, plan for any situation, and team to make workforce plans that blend with your corporate plans.

Use Shearwater to keep your project, financial, and people data in one place, making you easily adapt in real-time and make the most of every project. It can help you raise your business workforce planning and forecasting journey to the best level. An appropriate data core makes it easy to determine project dependencies and constraints so you can find out about the business impact of every decision.

Make Planning Easy With Shearwater-

1. Headcount, cost, and resource planning — Work on hiring, transfer, salary, bonus, salary growth, and staff resources to satisfy operational needs. Optimise the organisational structure.

2. Strategic workforce planning — Strategic workforce planning offers the ability to identify demand gaps and measures to fill the gaps.

3. Talent Planning — Get insights to optimise talent sources.

4. Take the manpower plan to a new level — It allows one to view or manipulate manpower data to plan without limitations.

5. Integrate real-time data from ERP & HCM systems — Strategize, optimise and revise your present workforce plans.

3 Main Advantages of Using Workday –

1. Workforce Management

2. Revenue Management

3. Expense Management

Many organisations from diverse sectors, like technology, healthcare, etc., utilise Workday and ensure the success of their projects. It is an outstanding option when you require top workforce management tools and when you have a company with employees ranging from 250 to 1,000.

Shearwater is a reliable platform that contributes to the development of consumers by providing consulting and tech solutions. Its adaptive functions ensure there are no complications in working. You are no longer occupied with juggling with Excel spreadsheets, and you can consume your time investigating your growth and performance.

Experience Workday Adaptive Planning Today.

Workday provides a comprehensive solution for medium to large-sized businesses, particularly those with multiple locations, to manage payroll, benefits, human resources, and employee data. 

Workday Adaptive Planning helps businesses in:

1. Better managing their staff, information and processes through real-time reporting, analytics, integrated workforce scheduling and a centralized HR database

2. Individuals can use it to track their own time, while businesses can use it to remotely manage team members on a daily basis.

3. Offers a secure SaaS platform that businesses can use to manage all areas of human resources (HR), including payroll, compensation, benefits, learning management, talent management, recruiting and talent retention

How To Use Workday Adaptive For Your Business-

While day-to-day usage will vary depending on the company, preparing to launch a new system requires careful planning. These steps are critical for a successful Workday software implementation in your organization:

Identify Existing HR Procedures and Techniques

Every Workday application has default options that may or may not be optimal for your business. Before beginning implementation, it is critical to assess current procedures to determine what is and isn’t working. Gaining a solid understanding of optimal operations will assist you in identifying any need for software customization, which may result in an increase in planned expenses.

Test Workflow Before Implementing

How things will work and what improvements may be required before implementing changes or functionality. When testing, consider the effect your actions will have on your organization. Developing testing scripts and evaluating automation tools may be required, so having a team in place with the necessary technical knowledge is critical.

Prepare for Data Migration

Transferring and converting data from your current systems to Workday is an important step in the implementation process. The problem with Workday is that your current data format may not be compatible with the data format used by the application. You must ensure accurate data entry, avoid data duplication and locate data points to manage this.

Discover the Ideal Implementation Partner

Working with the right implementation service provider is critical because Workday affects critical organizational staff processes. These independent partners with Workday experience will add enormous value by recommending best practices to ensure a smooth and successful transition.

Thousands of organisations across sectors such as healthcare, education, manufacturing, finance, technology and retail use Workday and make full use of the HCM suite of tools, from mid-sized businesses to Fortune 500 firms. Workday is an excellent choice if you own a company with 250 to 1,000 employees and need workforce management tools.

Shearwater makes working on Workday Adaptive Planning Software easy for companies.

In the dynamic landscape of modern business, success necessitates more than just reacting to changes – it’s about foreseeing and preparing for them. What’s more, seamlessly aligning current and future employment needs is not just a practice; it’s a strategy that propels companies toward seamless efficiency and resounding success. Thus, workforce planning has a bigger impact than one’s assumption.

Imagine a future where your company’s growth is unhindered by staffing inadequacies. Envision a workforce that seamlessly evolves with your goals, adapting to challenges and opportunities alike. This is the promise of robust workforce planning – a means to guarantee a reservoir of talent that keeps your operations finely tuned. However, it’s not a feat achieved alone; the path to excellence is paved with innovative solutions.

With the right tools, workforce planning becomes an orchestra of optimisation. Every note resonates with purpose; every move is calibrated towards efficiency. The result? A harmonised workforce strategy that transcends the boundaries of mere management.

The benefits are profound. Imagine automating complex calculations, effortlessly projecting future talent requirements, and allocating budgets with precision. This is more than software; it’s a symphony of streamlined processes. Your human resources become a tapestry of excellence, woven together by technology and vision.

Elevate your business beyond the ordinary. Let workforce planning software be your light, guiding you through intricate workforce management, budgeting challenges, and talent pool expansion.

Here are a few of the advantages of workforce planning:

Rapid Talent Replacement

Having the ability to quickly identify positions that are vacant due to unexpected (or unavoidable) employee turnover so that production or services do not suffer.

A Smooth Business Cycle

Cultivate procedures to flexibly scale your talent pool, enabling operational efficiency during prosperous and challenging periods.

Lower Turnover Rates

Constantly nurture employees for fresh prospects aligning with their skills and interests, fostering swift and smooth adaptation.

Lower Labour Costs

When the right people are hired at the right time, in the right place, and properly managed, labour costs are rapidly reduced without the need for large-scale layoffs.

Fewer Future Layoffs

Monitoring headcount guarantees optimal talent utilisation, averting surplus workforce conundrums.

Increased Internal Opportunities

Efficient workforce planning frees up HR professionals to take advantage of talent-sourcing opportunities from a competitor to find exceptional talent during difficult economic times.

Revamp Your Business Strategy with Effective Workforce Planning

Effective workforce planning directly enhances productivity, reduces labour expenses, and significantly minimises time-to-market. These benefits are maximised by ensuring optimal staffing levels with the right competencies at the right locations. A key asset of this approach is its integration of talent acquisition and employee skill development within a unified framework.

The power of workforce planning empowers managers to meticulously prepare and explore all conceivable scenarios. Though workforce planning might initially seem daunting, there’s a remedy.

Fortunately, software tools are at your disposal to streamline and even automate various stages of this process. Take, for example, Workday Adaptive Planning, a pioneer workforce planning solution offering a pathway to success.

Experience Workday Adaptive Planning Today.