IRT’s mission, to improve housing and care for older Australians, requires the ability to react quickly to fluctuating occupancy and funding and to optimize resources. However, as the organization grew, forecasting and reconciliation for 100 cost-centres became increasingly labour-intensive and left limited time for strategic planning. The only way for the finance team to deliver increased insight was to completely transform its planning and forecasting processes.By implementing Workday Adaptive Planning, with the help of ABM Systems, IRT has streamlined planning and eliminated the pain of consolidating data from cost centres. The finance team has increased forecast frequency, which helps IRT react faster to change, all while enabling more visibility into key drivers like funding. In addition, monthly reporting, which caused late nights and headaches, can be done with a simple click.
- Siloed data and planning—Reliance on spreadsheets for planning and collaboration made it difficult to maintain a single source of truth
- Labour-intensive forecasting—Manual, error-prone consolidation limited forecast frequency and accuracy
- No time for analysis—The finance team worked long hours to complete essential tasks like reporting
- Streamlined and collaborative planning—IRT now has a single source of truth, which is updated in real time for faster, more accurate budgeting
- Increased forecast frequency—More detailed, accurate forecasts can be prepared in just three weeks and are produced twice per year
- Strategic insights—Reports can be produced with a single click in OfficeConnect, and the impact of changes to occupancy or funding can be analysed almost immediately