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NeoSystems Corporation


Unlock the Secrets of FP&A Transformation with NeoSystems

June 27, 2024 | BY: Caitlin Bognar
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How We Transformed Our Financial Planning & Analysis (FP&A) Process with Workday Adaptive Planning

In the fast-paced world of finance, staying ahead of the curve is essential. That’s why many finance professionals are turning to innovative tools and strategies to optimize their Financial Planning and Analysis (FP&A) processes. NeoSystems has recently shared their success story in an on-demand webinar, revealing the key lessons learned from their FP&A transformation. This blog post will explore these insights and show you how you can achieve similar success with Workday Adaptive Planning.

NeoSystems’ transformation in FP&A is a testament to the power of the right tools and strategies. Hosted by Don Cornovale, Marketing Director at NeoSystems, and moderated by Kathy Gibbs, Vice President of Partners and Alliances, the webinar features expert insights from Susan Mitchell, COO and CFO, and Shawna Burgoyne, Senior Director of Finance and Planning. They discuss the challenges they faced, the lessons they learned, and the benefits of implementing Workday Adaptive Planning.

Challenges Faced

The Limitations of Excel

NeoSystems initially relied on Excel for budgeting and forecasting, but this approach had significant drawbacks:

  • Complexity and Inefficiency: Merging multiple versions of budgets led to broken shared documents and skepticism about data accuracy.
  • Time-Consuming Processes: Producing forecasts and consolidating data took over a week, resulting in outdated information.
  • Difficulty in Variance Analysis: Performing variance analysis and drilling into transactional costs was cumbersome and error-prone.

The Need for Better Tools

Recognizing the limitations of Excel, NeoSystems sought a more efficient solution. They selected Workday Adaptive Planning for its seamless integration with Deltek Costpoint and user-friendly interface. The tool allowed them to create rolling forecasts, maintain budget integrity, and improve variance analysis.

Key Lessons Learned

Lesson 1: The Dark Days of Excel

NeoSystems’ reliance on Excel highlighted the need for a more robust and reliable tool. The challenges they faced with broken shared documents and inaccurate data underscored the importance of choosing the right solution.

Lesson 2: Choosing the Right Tool

Workday Adaptive Planning was the game-changer NeoSystems needed. Its integration capabilities and ease of use made it the ideal choice for streamlining their FP&A processes.

Lesson 3: The Power of the Rolling Forecast

Creating a new rolling forecast in Workday Adaptive Planning now takes about five minutes, compared to over a week with Excel. This efficiency has revolutionized their ability to keep financial data up-to-date and relevant.

Lesson 4: Reporting & Dashboarding

Timely and accurate reporting is crucial for informed business decisions. Workday Adaptive Planning’s reporting and dashboarding capabilities provide quick updates and comprehensive insights, allowing users to drill down into data and create custom dashboards.

Lesson 5: User Acceptance

The user-friendly interface of Workday Adaptive Planning has led to high user adoption at NeoSystems. Custom dashboards and reports empower users to manage their business effectively, enhancing overall productivity and satisfaction.

Benefits for Government Contractors

For government contractors, the integration of Workday Adaptive Planning with Deltek Costpoint provides additional benefits:

  • Forward Pricing Rate Agreements: Supports forward pricing rate agreements and indirect rate calculations.
  • Accurate Revenue Forecasting: Ensures accurate revenue forecasting and rate calculations for complex contracts like TNM and CPFF.
  • Handling Complexities: Builds models to handle the intricacies of government contracting, ensuring compliance and accuracy.


NeoSystems’ FP&A transformation showcases the power of the right tools and strategies in overcoming financial challenges. By implementing Workday Adaptive Planning, they achieved greater efficiency, accuracy, and user satisfaction. If you’re ready to take your FP&A processes to the next level, watch the on-demand webinar to learn more about NeoSystems’ success story.

By following the insights and strategies shared by NeoSystems, you can unlock the full potential of your FP&A processes and drive your organization towards greater success. Don’t miss this opportunity to learn from industry leaders and discover the benefits of Workday Adaptive Planning.

Watch the On-Demand Webinar

Interested in transforming your FP&A processes? Contact us for our Workday Adaptive consulting and implementation services. Our experts are here to help you achieve your financial planning goals. Contact us today.

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