Case Study: University of Central Florida achieves cohesive financial planning with Workday Adaptive Planning

University of Central Florida creates cohesive financial plans

The University of Central Florida faced the challenge of creating a single fiscal year plan across three very different areas: the university, research grants, and the UCF Health physician practice. Using spreadsheets made it difficult to reconcile budgets, manage timing differences, and get 30 stakeholders aligned on trusted data. Workday Adaptive Planning was selected to help bring all of the information together.

Workday Adaptive Planning gave UCF a single source of budget and reporting data, improved visibility across missions, and made it easier to manage budgeting year over year. The solution helped the finance team integrate the three businesses into one income statement, align physician practice planning with the broader university plan, and spend less time verifying data and more time on strategy. Despite budget growth from $4 million in 2009 to $130 million in 2020, the team did not need to expand, thanks largely to efficiencies from Workday Adaptive Planning.

University of Central Florida