What is Anaplan? Overview of Anaplan

Anaplan is a cloud-based application. It is used for business planning, budgeting, forecasting and performance management. 

Several multinational companies like Coca-Cola, HP, Unilever and many others have adopted the software. It has helped to increase flexibility and integration in their processes.

It offers high flexibility and extensibility and allows for development various models and real-time data processing. Now, let’s know more about it in this blog below:

Introduction to Anaplan

Anaplan is an application that can be hosted in the cloud for the improvement of the planning and management of business operations and performance across functions. The platform captures information from various sources and assists in coordinating the plans, and apprises users instantly. 

Anaplan is very flexible in this regard and can be used to model various market conditions, short-term plans, long-term outlooks, and the best way to work in each circumstance. Get Anaplan Training to know in detail about it. 

Core Features of Anaplan

Anaplan covers many features that will help with planning and decision-making functions in an organization. Some of the core features include:

1. Connected Planning: 

With Connected Planning, Anaplan delivers an efficient and effective means of unifying disparate business processes to reflect unison in the organization. It helps in the direction of all the departments in order to meet the objectives and aims that are set within the organization.

2. In-Memory Modeling: 

It is also noteworthy that the platform integrates an in-memory modeling engine called Hyperblock, which allows data to be processed and analyzed in real-time. It makes it possible to build intricate models or experiment with certain scenarios with no slowdown in performance, therefore delivering real-time insights and data-driven decision-making.

3. Scalability: 

The application is scalable, and it can be effectively implemented in organizations of all sizes. This is possible because of its capacity to process and analyze large amounts of data as well as periodic computations. Its architecture is cloud-based; this makes it easy to scale up to cater to the needs of the business.

4. User-Friendly Interface: 

Through a web-based application, Anaplan simplifies modeling, and it does not involve extensive use of programming languages. It is simple to use and even operates with drag-and-drop features. This makes its application across departments easy without necessarily having to involve IT specialists.

5. Collaboration Tools: 

It also allows commenting, notification of multiple users, and managing different workflow features. These tools make it easier to share information and to coordinate with others in order that everyone is kept informed.

6. Advanced Analytics: 

Anaplan has rich analysis features such as predictive analysis and insights, building models for different scenarios, and what-if analysis. All of these specifications allow individuals to consider various possibilities, evaluate the results with the help of prognosis, and make decisions based on the results.

7. Integration Capabilities: 

Anaplan can easily reconnect with different data sources like ERP, CRM and more enterprise solutions. This integration ensures that its users have easy and reliable access to the right information.

8. Security and Compliance: 

Anaplan offers various compliance features such as RBAC, data encryption, and audit trail. They both help to keep user data secure and to follow compliance laws and rules to which the platform must conform.

 Anaplan Architecture

Anaplan is a state that has an architecture that accommodates its stability, scalability, and flexibility in planning. The key components of its architecture include:

1. Hyperblock Technology: 

The key component of Anaplan’s system is the hyperblock, which is an in-memory calculation engine that enables the company to process and analyze data in real-time. Hyperblock’s architecture always updates as soon as the data is modified and discloses knowledge of the models and scenarios to the users.

2. Cloud-Based Infrastructure: 

Anaplan has developed its infrastructure on cloud technology, and hence, the benefits associated with cloud computing are realized, starting with scalability, flexibility, and accessibility. This architecture enables users to be able to attend and access the platform from any part of the world and at any time through any device that has an internet connection.

3. Data Hub: 

Data Hub is also a central data location of all information within the Anaplan environment. It aggregates data from different sources such that information received is uniform and credible for users. It also performs data ETL and transformations to clean and standardize data for use in planning models.

4. Modeling Layer: 

In Anaplan, the modeling layer is used in the modeling and operational planning of plans in an organization. This layer is versatile and applicable in financial, sales, supply chain, and HR models. It allows users to include calculations, business rules, and relationships between models that give a correct model of the planning process of the organization.

5. User Interface: 

The user experience in Anaplan includes an interface that is easy to understand and navigate. It forges dashboard, report, and other elements that can be used to help the users appropriately engage with the software and personas for data analysis.

6. Integration Layer: 

Anaplan, the integration layer, encourages the sharing of information between the company’s system and other systems. This layer consists of many integration options and is based on APIs, connectors, and data import/export capabilities. It also ensures that data processed within Anaplan and other enterprise applications are optimally shared within the organizations.

7. Security Layer: 

Security is an important aspect of the architecture of any cloud solution like Anaplan. The security layer consists of facets like encryption, access and entry to the data, and audit trails. These steps make it possible to guarantee the safety of the data collected and the ability of only some selected individuals to retrieve it.

 Benefits of Anaplan

1. Data-Driven Decision Making: 

With the help of Anaplan analytics and a planning engine, corrective actions and effective strategies can be developed from intuitive data. Taking these various options and identifying the likely consequences that may arise from the actions will enable organizations to make the right decision in business.

2. Scalability: 

Anaplan is a cloud-based solution that the company can depend on to scale correctly with the business. Anaplan is a flexible platform, and it can cater to a small start-up company as it can for a large company.

3. Cost Savings: Integrating planning processes on one platform means that the organization will be relieved of the burden of coming up with many expensive systems. The cloud-based architecture of Anaplan also means no costly hardware and other IT assets are required.

4. Improved Accuracy: Integration enhances data quality by making it easier to have a proper flow of data across the planning models at Anaplan. This accuracy is important in business since it assists in decision-making processes that are fundamental to running a business.

5. Increased Productivity: The easy-to-use design of this platform, coupled with automation of some tasks, leads to time and effort savings geared towards achieving plans. Such optimization leads to new general improvements that permit teams to work on more valuable things.

Implementation of Anaplan

Implementing Anaplan involves several key steps to ensure a successful deployment:

1. Needs Assessment: 

The first of these is the establishment of needs analysis in order to determine the degree and type of planning and decision-making the organization needs. This requires consultation with the relevant stakeholders, assessment of existing processes, and evaluation of the current status.

2. Solution Design: 

The following procedure after the needs assessment is to develop the solution on the Anaplan platform. This means understanding the planning models and the data integration specification, as well as the user and permissions structure. Here, the elements of the solution design should improve the organization’s alignment with strategic goals and objectives.

3. Data Integration: 

Data integration is an important phase in the implementation of solutions to support the overall goals. This encompasses the integration of Anaplan with incumbent systems such as the ERP, CRM and HR systems, among others. Data integration enables the platform to work with the latest and correct information that is acquired in the database.

4. Model Building: 

The next step is to actualize the planning models in Anaplan that were already developed in the previous step. This involves declaring the formulation of computations, rules of operations on the models and their inter-relations. Similarly, the models used in the organization’s planning processes should be developed in consultation with the organization in question.

5. User Training: 

One key aspect that is particularly important towards the implementation of Anaplan is ensuring the provision of training to its users. This includes stock entries, accounts entries, general training on the use of the platform, and reporting training. Training for the users should be handled based on the class of users that require the special training.

6. Testing and Validation: 

As soon as the Anaplan solution is developed, it is crucial to conduct back-testing and pilot the project. This entails that constant testing is done to check whether the planned models are working efficiently, the various data integration points are harmonious, and the users’ access and roles are fit for the purpose intended. Whenever testers detect any problem, the problem has to be resolved before the solution is released.

7. Go-Live and Support: 

The implementation of the Anaplan solution is possible after testing is done. Users need to be supported throughout the process for any issues that may transpire during the go live process. This includes offering technical assistance and tutorial materials necessary for the users.

8. Continuous Improvement: 

While implementing an Anaplan solution, it is crucial to have a post-go-live plan in place as well as subsequent enhancement activities. This means physically seeking feedback from the users and quantitatively monitoring and tweaking the planning models and data integrations. A principle of perpetual enhancement guarantees that the usage of the platform adapts to the needs of the organization.

Challenges and Considerations

While Anaplan offers numerous benefits, there are also several challenges and considerations that organizations should be aware of when implementing the platform:

1. Change Management: 

It is normal to see that the process of working on Anaplan usually requires a lot of organizational changes with regards to the existing approaches towards planning. To avoid issues slowing down the process and to avail of the benefits of the new platforms, it is crucial to have a strong change management plan for users to embrace the change.

2. Data Quality: 

Data accuracy and reliability are paramount since the cogs of Anaplan functionality heavily rely on the information fed into the platform. In this case, organizations are tasked with making their data clean, accurate and current. This may require cleaning and restructuring of data prior to loading the information into the Anaplan system.

3. Complexity of Models: 

Solving complex planning tasks in Anaplan presents certain difficulties due to the possibilities of its creation of multi-tiered planning models, which are most relevant for organizations with elaborate business processes. A key point that should be taken into consideration is to have professional model builders with profound knowledge of the platform and the planning needs of the organization.

4. User Adoption: 

One of the most Acute issues that businesses face in embracing new technology relates to users’ acceptance. Like other users, new and existing users will require guidance to learn how to use Anaplan effectively and how to gain maximum benefit out of the system.

5. Integration with Existing Systems: 

Numerous challenges may arise when determining how to connect Anaplan with other systems in a business, one of which pertains to the nature of other existing systems. Communication with the IT teams is essential in implementing data integration, and having a clear integration plan is essential.

6. Cost Management: 

On the same note, Anaplan may mean long-term cost savings, but its implementation and plan subscription fees can dent one’s pocket in the initial stage and the future successively. The last few years have seen increased focus on organizations’ ability to manage their limited resources to effectively get a ROI on the platform.

7. Security and Compliance:

It is vital to ensure that any data within the Anaplan environment is adequately secured and protected from compliance violations. Companies have to follow strict privacy measures and have to incorporate basic security features like role-based access control, data encryption etc to ward off any intrusion and to meet the compliance necessary for regulatory purposes.

 Conclusion

Anaplan is an analytic tool that can significantly enhance work in the sphere of enterprise planning. It transformed into a connected planning approach, real-time data processing, and enhanced analytics. 

These make Anaplan an ideal tool for organizations to facilitate accurate decision-making, increase the efficiency of collaboration, and support the concept of organizational flexibility. 

Certainly, the implementation of Anaplan can be construed as rife with problems; nonetheless, the range of opportunities it opens for various businesses makes it a highly valuable tool across industries.