Frequently Asked Questions: Adaptive Planning
- Budget Office
- Reporting Services
How did the UF Budget Office determine this change was needed?
More than 100 UF financial partners throughout campus were surveyed to determine what Hyperion was doing well and where it was falling short. Several in-person focus groups were held to conduct a comprehensive SWOT analysis of our existing processes and tools. A smaller team of finance officers met to map and analyze the existing business process to identify and prioritize system requirements that informed the selection of the new tool.
Will Adaptive Planning be capable of providing me budget-to-actual comparisons?
Yes, the system will operate real-time or near real-time integrations with PeopleSoft and Cognos to allow for this type of analysis.
Will Adaptive Planning allow me to track and manage funding by position?
Yes, in addition, you will be able to analyze salary savings or deficits created as a result of employee turnover and differentiate positions units have identified resources for and intend to fill from positions that may be active but have no immediate plans for fulfillment.
Position management will also provide the ability to see distributions spread over multiple funding sources
What types of reports will be available in the new system?
There will be several options to obtain and share information from a common dataset, in different ways for different stakeholder audiences – this capability will come directly from Adaptive Planning and will not require using shadow systems to facilitate report generation.
In addition, the system will be equipped with dashboards that provide the most relevant and commonly sought-after information
Will the new system allow me to manage soft commitments?
Yes, for those commitments not yet formalized in the university’s accounting system, Adaptive Planning will provide the ability to report how funds are spent on these commitments
Is this system only open once or twice a year to enter budget information?
No, the system will be open and available year-round so units can create an adjusted budget that doesn’t change the actual/approved budget. This will provide forecasting and ‘what-if’ capabilities.
I prefer to use Excel, will I be able to upload Excel data to the new system?
Yes. In addition, the Adaptive Planning web-based planning sheets deliver an Excel-like experience with all the benefits of collaborative cloud modeling.