Table of contents
- Adaptive Planning vs. Pigment: Unveiling the Differences
- User Experience and Interface
- Data Security and Compliance
- Cut your financial planning cycle times by 70% with Workday Adaptive Planning
- Tips and Tricks for Choosing Between Pigment and Adaptive Planning
- Choosing Between Workday Adaptive Planning and Pigment
- FAQs
Today we focus on Adaptive Planning vs. Pigment.
Financial planning technology can revolutionize the way you manage your organization’s fiscal data. However, it’s vital that you choose the right solution. It’s not just about managing numbers — it’s about finding a platform that aligns with your strategic goals, enhances efficiency, and scales with your business. Two leading options that can help you achieve these benefits are Workday Adaptive Planning and Pigment.
Workday Adaptive Planning is one of the top Pigment competitors. As such, these integrated business planning tools are often mentioned in the same breath. The question is, which one offers better value and functionality?
In this deep dive into the similarities and differences between Workday Adaptive Planning and Pigment, we’ll compare the two platforms’ user interfaces (UI), features, capabilities, and customization options.
You can leverage these insights to make an informed decision and drive your business forward with integrated business planning tools.
Adaptive Planning vs. Pigment: Unveiling the Differences
Before we explore and compare Pigment and Workday Adaptive Planning, it’s important to familiarize yourself with the financial management technology landscape. The ecosystem is filled with options, from simplistic tools like Microsoft Excel to all-in-one solutions that bring all of your key business processes under one roof.
When venturing into this market, consider both your current needs and your future vision for your organization. The ideal platform will be able to adapt and evolve with your company.
Here’s how Pigment and Workday Adaptive Planning fit into the tech landscape and what they bring to the table.
Want to see these solutions in action? Request a live demo to explore how Adaptive Planning and Pigment work and ask questions specific to your organization’s needs.
Understanding the Landscape
The financial planning software market is crowded, with Pigment and Workday Adaptive Planning standing out among a sea of competitors. Both platforms are mid-market solutions designed for small to medium-sized organizations. They’ve also both garnered positive reputations for user-friendliness, support, and ease of administration.
Pigment shines as one of the most simplistic and easy-to-use financial planning programs on the market, while Workday Adaptive Planning stands out for its abundance of integrations and extensive vendor support network. Overall, each platform promises to greatly improve your financial management processes.
Pigment Planning Unveiled
Pigment is one of the leading Workday Adaptive Planning competitors, and for good reason. It offers a wealth of features and functionalities, including:
- Budget creation
- Budget management
- Forecasting
- Analytics
- What-if modeling
Pigment users praise the platform for its customizability, user-friendly layout, and high level of control. Their primary complaint about the system is that it slows down significantly when processing large datasets.
Navigating Adaptive Planning Software
Workday Adaptive Planning is a feature-laden solution that includes forecasting, reporting, analytics, and data management tools.
Its key value proposition is its ability to deliver real-time updates and facilitate collaboration across your entire team. Multiple staff members can collaborate on documents and projects to maximize efficiency and tap into the power of your financial data.
User Experience and Interface
The best way to decide between Workday Adaptive Planning and Pigment is to compare each platform’s user experience (UX) and interface. After all, what good are dynamic features if they’re difficult to use?
Choosing a platform that’s easy to implement and use will maximize team buy-in and accelerate your time to value. A clunky or frustrating system, on the other hand, will diminish your return on investment (ROI) and drive up implementation costs.
Fortunately, both Workday Adaptive Planning and Pigment have a reputation for being user-friendly. But which one comes out on top? You decide.
UI Comparison
Both Workday Adaptive Planning and Pigment have no-nonsense UIs that offer intuitive layouts and easy-to-reach menus. The platform’s respective developers prioritized accessibility in their designs, ensuring that even your least tech-savvy employees will be able to find their way around the applications.
Both platforms scored an 8.1 in ease of use on G2. However, Pigment outperformed Workday Adaptive Planning in terms of ease of administration (8.5 vs. 8.0) and ease of setup (7.8 vs. 7.2).
That said, there are some back-end administration and setup issues that need to be addressed. For instance, Workday Adaptive Planning offers a huge selection of integrations, which can alleviate your administrative burden and help you get the most out of the platform.
While each solution enjoys stellar reviews on G2 and other third-party review platforms, a few complaints about Pigment are worth noting. For instance, one user called Pigment’s out-of-the-box apps and reporting capabilities “limited.” Another reviewer said the platform has a steep learning curve.
Most users gave Workday Adaptive Planning high praise. One stated that it’s “much more versatile than most planning software.” Another said Workday Adaptive Planning makes it “incredibly easy to pivot through data.”
Collaboration Features
Pigment has some basic collaboration features designed to help you and your team easily share information. For instance, you can set up custom notifications and email workflows. When certain triggers occur, Pigment will automatically email designated team members reports and updates.
Pigment also tracks metrics in real-time. It frequently updates data, ensuring that you’re working with timely, relevant metrics. Having access to reliable information can accelerate your decision-making processes and help your business seize fleeting opportunities.
Workday Adaptive Planning pulls away from Pigment in terms of collaboration features. Thanks to its integrations, it can accumulate and centralize data from various platforms. It can also export data and reports to other business management tools.
Workday Adaptive Planning’s integration and automation features can save you time, help your team get more done, and give your company a definitive edge.
Customization Options
Pigment is highly customizable. According to G2 reviews, you can customize standard budget periods, reporting timetables, and notification triggers. You can also create custom formulas for modeling purposes and financial forecasting.
Workday Adaptive Planning also offers lots of customization options. One G2 review stated that the platform allows for abundant customization to “support planning dimensions and scenarios.”
Among its many features, Workday Adaptive Planning enables you to run different what-if scenarios to determine how various market conditions or developments might impact your company’s bottom line.
If you’re ready to make a decision, schedule a consultation with our experts to discuss your financial planning requirements and find the right solution for your business.
Data Security and Compliance
In an era where data breaches are increasingly common, data security and compliance are paramount. While no platform or application will offer a standalone solution to all your data security challenges, the best platforms will strengthen your security posture, not weaken it.
From a compliance standpoint, you need a platform that will mitigate the risks of fines and regulatory penalties, especially if you operate in a tightly monitored industry. Financial data is subject to some of the most stringent reporting requirements, which is all the more reason to have a secure yet user-friendly financial planning platform.
Pigment’s Security Measures
Pigment’s commitment to cybersecurity is evident in its advanced encryption protocols, which are meant to ensure the integrity of your financial data. Pigment encrypts data during transmission and while at rest, which offers more comprehensive protection against hackers.
Pigment also offers role-based access control. When configuring Pigment and adding users, you’ll be able to assign each person a role. Their role will dictate what data they can access and what they can do with that data (view only, delete, modify, etc.).
In addition to offering role-based access control, Pigment allows for access customizations. For instance, you could assign two people the same role and then adjust what information each can view and edit based on the demands of their position.
The platform is also designed in accordance with relevance compliance standards, which guarantees that your data will remain confidential and protected.
Adaptive Planning’s Secure Infrastructure
Workday Adaptive Planning uses robust encryption that protects data at rest and in transit. By encrypting your data while at rest, Workday Adaptive Planning drastically reduces your exposure to hacking and other criminal activities.
The solution also leverages multi-factor authentication, adding an extra layer of security. This safeguard requires users to provide at least two forms of verification before they can access sensitive data. For instance, users may have to enter a password and then scan their ID badge to log into their accounts.
One of Workday Adaptive Planning’s most important features is its audit trails. The platform maintains comprehensive audit trails, allowing you to track user activities, prioritize compliance, and proactively address suspicious or unsafe behavior.
Disaster Recovery and Business Continuity
Despite your best efforts, disaster can still strike your business. It’s how you respond that matters. When the worst-case scenario occurs, you need to know that your financial data is safe and recoverable. Fortunately, both Workday Adaptive Planning and Pigment do a great job of supporting business continuity.
Pigment uses the principle of “availability zones” to minimize downtime and help you bounce back after a critical incident. The provider uses its cloud infrastructure to reroute computing resources and data from other geographical areas outside the affected region.
Workday Adaptive Planning is also a cloud-based solution, meaning your data is safe and secure, even if your business falls victim to disruption.
Furthermore, the provider offers recovery and business continuity support, meaning they’ll help you recover your financial data in the event of a cyber attack. This kind of external support is priceless when navigating the chaos of a data breach.
Cut your financial planning cycle times by 70% with Workday Adaptive Planning
Let QBIX Analytics show you how to make smarter financial decisions, faster.
Tips and Tricks for Choosing Between Pigment and Adaptive Planning
Implementing a new financial planning solution can be taxing on your team, resources, and budget. As such, it’s imperative that you get it right the first time.
With that in mind, here are some practical tips and tricks for choosing between Pigment and Workday Adaptive Planning.
Strategic Platform Evaluation
The best way to evaluate a platform is to try it for yourself. Both Pigment and Workday Adaptive Planning offer free demonstrations. During a demo, developers will showcase the platform’s features, capabilities, and interface.
Before scheduling a demo, make a list of features and tools you want to see. Demos should be customized, meaning the provider should focus on the functions that are most relevant to your purchasing decision.
Workday Adaptive Planning also offers a free trial period, which gives you an opportunity to learn the system and explore its strengths. Pigment doesn’t offer a trial.
When setting up your demo and taking advantage of Workday Adaptive Planning’s trial, make sure to include employees from different levels of the organization. People with different roles will be able to provide a unique perspective on the benefits and drawbacks of each platform.
You’ll also need to establish clear financial planning goals and use benchmarks to assess your options. Compare these goals with the capabilities of each solution and see which is a better match.
Cost-Effective Decision-Making
When tallying up the cost of a particular platform, consider the initial expenses, ongoing upkeep and administration, and support. If you plan on customizing, don’t forget to factor in those costs as well. You should also perform ROI projections on each platform to determine the true value of each option.
Still not sure if Workday Adaptive Planning or Pigment is the right fit for your business? It’s time to take a closer look at both platforms. Check out free resources like Workday Adaptive Planning — Tips and Tricks Webinar Recap to get a better understanding of the capabilities of these solutions.
Choosing Between Workday Adaptive Planning and Pigment
As one of the top Pigment competitors, Workday Adaptive Planning is a dynamic platform that can meet many of your organization’s financial planning and management needs. However, Pigment boasts exceptional user-friendliness and plenty of customization options.
In light of this, you’ll want to perform an exhaustive comparison of these platforms and how well they might serve your organization’s unique needs.
Before you start your search, clearly define your goals and ask yourself what you hope to achieve by adopting integrated business planning tools. Once you’ve got a clear objective in mind, you’ll be well on your way to choosing a platform that helps your business meet its full potential.
Pigment ensures advanced data security through encryption protocols and role-based access control, while Workday Adaptive Planning secures data via encryption, multi-factor authentication, and audit trails.
Contact QBIX now to get personalized advice and assistance in choosing between Adaptive Planning and Pigment. We’re here to guide you through the decision-making process.
FAQs
Workday Adaptive Planning and Pigment have unique features and interfaces. Pigment offers a high degree of customization and an intuitive UI, while Workday Adaptive Planning prioritizes collaboration and real-time updates.
Among other perks, Pigment users have enjoyed a 75% reduction in data preparation time, an 80% decrease in time spent on data aggregation, and a 90% reduction in time spent on what-if analysis.
Pigment offers versatile reporting capabilities and the ability to format any type of table. Users can generate visually appealing content and create all manner of charts with ease.
Pigment integrates seamlessly with existing tech stacks, including Workday. These integrations allow organizations to visualize financial and headcount plans in one convenient platform.
Pigment ensures advanced data security through encryption protocols and role-based access control, while Workday Adaptive Planning secures data via encryption, multi-factor authentication, and audit trails.