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Workday Inc. a leader in enterprise cloud applications for finance and human resources announced availability of Workday Accounting Center and machine learning ML-driven predictive forecasts for Workday Adaptive Planning as well as additional functionality across its finance offerings to drive insights agility and efficiency. These innovations transform the way customers engage with data bringing new levels of visibility and control to the office of the Chief Financial Officer CFO.Todays finance teams are challenged to achieve greater agility amidst the ever-changing business landscape heightened by the pandemic. Real-time data and insights are key to agility yet many finance organizations have disconnected data sources and legacy accounting systems which can no longer keep pace in todays changing world. Valuable time is spent collecting reconciling and validating data instead of delivering trusted insights to the organization. To address these critical challenges Workday continues to advance its cloud planning and financial management solutions with ML and data management capabilities.Creating Agility with an Intelligent Data FoundationWorkday is going beyond the boundaries of traditional ERP systems to solve a problem that has plagued the industry for decadeskeeping up with the ever-increasing volume of operational data and turning it into accounting and insight faster and more efficiently. Now commercially available with early adopters such as CNA and Shelter Insurance currently in production Workday Accounting Center represents a fundamental change in the way finance manages operational data.Workday Accounting Center enables customers to ingest operational data enrich it with meaningful attributes and transform it into accounting. This allows customers to manage operational and financial data from multiple sources with a single point of control across the enterprise.For example with Workday Accounting Center an insurance company is able to load its operational transactionssuch as claims or policy datainto the system create accounting journal entries for those transactions and then report and analyze on those transactions with full drill down and visibility into the source transactions which is called data lineage. This eliminates the need for finance teams to rely on information technology IT with cost savings estimated to be upwards of 50 percent to maintain accounting rules. Combining Workday Prism Analytics and Workday Financial Management creates an intelligent data foundation that also fuels ML-enabled transactions and processes.Machine Learning Powers Intelligent Planning Delivers Predictive ForecastsPlanning has become even more critical for organizations managing through the pandemic with forecasting activity increasing up to 30X from pre-pandemic operations. To enable forecasting with even greater accuracy Workday continues to evolve its intelligent planning capabilities which allows planning without limits and anticipates whats next with greater accuracy and confidence harnessing ML at the core.Using time series predictionthe process of modeling events over a period of time to make more accurate predictionsWorkday applies the power of ML to enable predictive analytics with Workday Adaptive Planning. The ML algorithms use historical and current data to predict likely outcomes for revenue expenses and other critical business variables creating a predictive forecast. Predictive forecasts are created based on thousands or even hundreds of thousands of data points aggregated from across the enterprise including sales HR marketing and manufacturing data for example. Using anomaly detection in Workday Adaptive Planning anomalies are identified and automatically flag a planner about a potential issue. New reporting capabilities make it easy to compare an ML-driven forecast against a planners forecast to detect potential problems before either forecast is acted on so organizations can make better decisions with confidence.With predictive forecasting embedded in the analytics engine of Workday Adaptive Planning it will continue to learn over time and the more data is added even greater insights will be gained. The predictive forecasting capability is available now to all Workday Adaptive Planning customers.Continuous Innovation for the Office of FinanceThe latest release from Workday also includes key advances for customers in the office of the CFO focused on enabling deeper insight and accountability for performance. Notable advancements includeEmbedded ad hoc analysis on real-time data. The availability of Discovery Boards reflects Workdays enduring focus on embedding analytics in core finance applications. With Discovery Boards accounting and finance teams are able to easily see and analyze data in real time on live Workday transactionsall in one system. With access to nearly 200 data sources across core financial management and spend management customers can easily and securely perform ad-hoc analysis with an embedded drag-and-drop visualization tool.Unified planning and execution. Workday customers can now publish plans from Workday Adaptive Planning directly to Workday Financial Management and vice versa making it easy to compare actuals to plan in the same system further streamlining finance processes. This provides easier access for real-time analysis and compresses the planning and execution cycle for greater agility.