Budgets in Future State

The Adaptive Team has been continuing to meet daily to prepare for the build of Adaptive 3.0, the new version of Adaptive Planning that will integrate with Workday Financials when we go live on July 1, 2022.

The team has collected almost 400 user stories from UVA schools and units so they have the clearest understanding possible of UVA's needs going forward.

There was a huge range of user stories and the team is currently in the process of reviewing and refining them and is reaching out to schools and units to provide additional clarity or details as needed. Take a look at the graphic below to see all of the budget processes the team will be taking into account as they design Adaptive 3.0.

Click the image for a larger view

Speaking of Go-Live, and Adaptive Planning integrating with Workday Financials, you may be wondering what parts of the budget will live in Adaptive vs. Workday. At the recent Customer Confirmation Session focused on Budget, Team Lead Elissa Morton broke it down like this:

• Adaptive Planning: used for budget development activities and strategic planning. Adaptive will contain detailed budget models with additional budget information, including commentary, current-year forecasting capabilities, multi-year planning capabilities, and scenario modeling capabilities. In short, Adaptive Planning is our source for past, current, and future budget data.
• Workday Financials: where you go for day-to-day operational activities. Workday will house source transaction details (purchase order information, worker-related information, etc.), and it will only consume the original budget and the latest forecast version for the current year.

You'll be able to access the annual budget and actuals in both places. Workday will only have the approved version of the annual budget along with transactional details. Adaptive will have multiple versions of the budget that you can compare/contrast.

For more information on Adaptive Planning, visit the FST website's Adaptive Planning page.