How law firms can take advantage of workday adaptive planning according to ICit
In today’s rapidly evolving legal landscape, your firm will benefit from a financial planning and analysis (FP&A) capability that not only meets stakeholders’ requirements, but also sets you ahead of your competition. Workday Adaptive Planning offers a robust, cloud-based platform designed to simplify and elevate your financial function. We’ve helped many law firms tackle a wide range of challenges including matter coding; fee arrangements and pricing models; multi-dimensional reporting; and revenue forecasting.
Helping you address the key legal sector FP&A challenges
Complex Matter Coding
Workday Adaptive Planning allows firms to create custom dimensions specific to matter codes, enabling better visibility and analysis of financial data related to different legal matters.
Fee Arrangements and Pricing Models
Workday Adaptive Planning allows firms to model different fee structures, track billing rates, and analyse profitability based on various pricing models, providing deeper insights into financial performance.
Multi-dimensional Reporting
Workday Adaptive Planning offers multi-dimensional reporting capabilities, allowing firms to slice and dice financial data based on different dimensions and generate reports to support strategic decision-making.
Revenue Forecasting Workday
Adaptive Planning makes forecasting a simple, continuous and fast process with connected, driverbased planning rules that can update a complete forecast whenever data, drivers or KPIs change. Long range plans can be run live alongside detailed, bottom-up forecasting in the same, consistent platform.
Why Workday Adaptive Planning is the Best Choice for your Law firm
- Industry-Specific Configuration: Unlike generic financial software, Workday Adaptive Planning offers configuration specifically designed for the unique needs of Law Firms.
- Ease of Integration: Seamlessly integrate with existing ERP, HRMS, and CRM systems, thereby providing a unified view of all business operations.
- User-Friendly Interface: With an intuitive, user-friendly design, onboard your team quickly – no specialised training needed.
- Secure & Reliable: Hosted on a cloud-based infrastructure fortified with industry-leading security protocols to ensure data integrity and confidentiality.
Workday Adaptive Planning: Solution Highlights
- Matter code/Partner planning
- Streamlined budgeting & forecasting
- Real-time analytics & reporting
- Compliance & audit trails
- Aged WIP reporting
- Cash flow management
- Unbilled revenue planning
- Collaboration & workflow
Now’s the time to start enhancing your FP&A capabilities
Elevate your firm’s FP&A with Workday Adaptive Planning. Streamline budgeting and forecasting with real-time data and collaborative tools. Make informed decisions quickly, adapt to market changes, and boost financial performance efficiently
Get in touch today
To find out more about the benefits of Workday Adaptive Planning, or to ask any questions about how it could improve your planning and reporting, please get in touch.
