Carlson Thought Leadership in Finance & Technology

How Finance Teams Impact Profitability with Workday + Adaptive Insights

February 21, 2019 / by Lauren Strohmeier

 

 The path to success is to take massive, determined action. (3)What makes a profitable organization?

Naturally, exceptional products and services, as well as a commitment to customer satisfaction, are all key contributors to the revenues that drive profitability. But, it’s also a question that must be answered if your finance team is to be a driving force behind the organization’s profitability. The right team, technology, and processes can help ensure a positive bottom line. When you focus your energy on these key elements, you create synergies that yield improved financial results.

To impact profitability, it’s key to do finance differently in these ways:

Implement Best-In-Class Financial Technology Solutions

Best-in-class financial technology solutions can help you bring your organization to the next level. When you implement these solutions, you provide your team with the capabilities that enable more effective processes. With effective processes, your team works smarter and productively.

Working smart leads to better results. First, automation handles many previously-manual tasks. You now have time to focus on strategic initiatives that drive momentum and growth. Second, systems integration creates a team of technology that unifies your data for the full financial picture. Third, cloud-based solutions are made for collaboration. Users throughout the organization can access information and engage with other users. People in finance, product development, administration, marketing, sales, and more can exchange insights and ideas. This unity creates an integrated culture.

Thankfully, pioneering solutions are answering the call for a better way in finance. Workday + Adaptive Insights is transforming business by helping organizations achieve goals faster. These cloud-based financial technology solutions are the fuel for the high-performing finance team.

You’ve decided to implement a financial technology solution. You’re excited about its possibilities. You’re also wondering how to make the most of the solution. How do you get the highest return on investment from its capabilities?

Find a Partner for Finance Transformation

During a collaborative partnership with a consultancy, you benefit from highly-specialized expertise in financial solution implementations. Carlson delivers its award-winning Carlson Implementation Methodology that accelerates delivery and ensures project success. Experience increased profitability and improved business performance that comes with smooth implementations and exceptional support. You also get custom solutions that help you thrive in your industry.

To discover how your organization can experience greater profitability through the Carlson Implementation Methodology, please take a moment to read The Carlson Guide to Implementing Adaptive Insights.

Think Big Picture

In finance, details matter. However, the big picture is where informed, strategic decisions are made. That’s why it’s important to look beyond your data to its meanings. Evaluating your organization using a holistic view gives you a deeper understanding of causes and effects. What’s causing certain outcomes to happen?

By making those connections, you can see how events are interrelated. The patterns become clear. Those patterns are your insights for sound plans of action. You now understand more than what’s happening; you understand why it’s happening. The Adaptive Insights Business Planning Cloud provides teams with the analyses, dashboards, and reports that enable that understanding, as well as the ability to dive deeper into the underlying data.

With the joining of Workday and Adaptive Insights, organizations can now think big picture to drive greater growth and performance. Workday + Adaptive Insights gives you an all-in-one cloud solution for business planning and analytics, financial management, and human resources. You can see how all the pieces fit together.

With this visibility across your organization, you have strategic foresight. You have forward-looking perspective. That perspective is where data and forward-focused planning enable profitability.

Collaboratively Plan

Accomplishments happen when teams plan collaboratively. When minds meet, creative ideas give rise to innovation. A team that works well together will be more productive and prolific.

To foster collaboration, build processes that make it easy for people to collaborate. That means progressing from Excel to a more sophisticated system.

With Workday + Adaptive Insights, teams throughout the organization can access financial and operational information. The platform serves as a single source of Truth, where all users can evaluate business performance. Teams plan together, empowered with data-driven insights to advance the organization’s mission.

Actively Plan

When you collaboratively and actively plan, your organization can prepare for the future. Agility is necessary to adapt to evolving business conditions. Smart preparation can lead to better performance and profitability in the long run.

Workday + Adaptive Insights is designed for professionals who are proactive with planning. Its advanced budgeting, analysis, modeling, and forecasting capabilities give users a big-picture view of historical, current, and projected future business performance.

This transparency illuminates the way forward. Business users can make informed decisions confidently that propel the organization to greater growth and profits.

Read Your Data’s Story

What story does your data tell? Read the numbers, and you’ll learn what’s driving your business. You’ll discover strengths and areas for improvement. You can make strategic decisions that turn the page to the next chapter of growth.

As your organization evolves, so do your numbers. That’s why it’s important to always be collecting, analyzing, and evaluating data. Workday + Adaptive Insights’ automation manages many core processes, so you can stay in the know while focusing on the areas where you add value.   

Workday + Adaptive Insights also has intuitive forecasting capabilities. What happens years from now often depends on what you do in the present. Visibility into the future can help you make effective decisions. What will it take to achieve your goals? Rolling forecasts answer those questions. Even better, you have that clarity always working for you.

By reading your data’s story, you can act with purpose to make your vision happen.

Outsource Finance Functions

There may be a time when you solely want to focus on your core business. Perhaps, your organization is in its early growth stages. Or, you simply want a more cost-effective way to manage your finances. Whatever the reason, outsourcing finance functions can help you stay nimble and scale.

Carlson’s certified financial consultants serve as key members of your accounting and finance leadership. Their deep expertise in finance and cloud technology solutions can optimize your FP&A. With their collaborative support, you save time and money, work smart, and get in front of growth.

Know What Drives Your Business Forward

With driver-based budgeting and planning, you can steer your business forward, faster. As this post emphasizes, success begins with strategy. You have set actionable goals. But, what will it take to achieve them?

Making the most of your organization’s strengths can make it even stronger. By identifying which value drivers are instrumental to success, you can develop plans that incorporate them. It could be high-performing departments, people, technologies, and processes. Making them an integral part of your budgeting and planning can increase profitability.

Workday + Adaptive Insights features in-depth analytics and interactive dashboards that paint an illuminating picture of what’s driving your business forward. You can proactively plan and adapt in real-time to realities. It’s the solution for the forward-thinking finance team and CFO.

These strategies differentiate high-performing finance teams. Doing things differently can lead to something exceptional. Want to discover more about how to increase profitability with a cloud-based technology solution? Please contact us for a consultation.

 

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