For years, Hagerty endured cumbersome, spreadsheet-dominated budgeting and reporting processes. The company wanted better forecasting and analytical capabilities.
Hagerty can now automate the process of importing financial actuals into Workday Adaptive Planning, saving time and providing a unified and trusted view of data across the organization. This allows staff to plan better, budget faster, and forecast more strategically.
Benefits and results.
FP&A’s new fuel: consolidated real-time data.
Hagerty’s financial plan is an automated roll-up of real-time actuals from its Workday Financial Management system and better reflects the company’s situation. This frees the financial planning and analysis (FP&A) team from time-consuming data prep so they can focus on value-added work.
reduction in forecast cycle times
7% -> 40%
FP&A team’s time spent on strategic work
Better visibility of the road ahead.
Data unified from Hagerty’s financials, HR, and many diverse enterprises enables the FP&A team to deliver more flexible, relevant, and trusted reporting and analysis to management and business users so they can make more informed decisions about steering the business forward.
3 -> 12
On-ramp to a bright future.
Previously disconnected planning processes are now linked in one easy-to-use system that covers revenue and expense planning, personnel and wage models, and more. What-if scenarios help Hagerty assess new acquisitions, different revenue models, and foreign exchange rates.
the number of active, informed planning participants