Real Estate Investment Trust



Budgeting, Planning, ReportingWorkday Adaptive Planning, Workday Adaptive Planning OfficeConnect

business challenge Challenge

This business is a vertically integrated, self-managed real estate investment trust (REIT) with decades of experience developing, building, acquiring and managing high-quality office, retail and multifamily properties. The REIT relied on Microsoft Excel for budgeting, planning and reporting. Like many top-performing companies, it decided to move away from Excel as a budgeting “solution.”

The REIT had some unique requirements for its new approach. It needed the solution to be easily integrated with Yardi, property management software. Yardi contains information on the REIT’s properties and actual and forecasted financials.

The company also wanted the solution to leverage its investment in existing Excel-based financial reports.


The REIT’s new Workday Adaptive Planning solution includes a custom personnel planning tool that allocates a percentage of employees’ time to capital projects and corporate overhead. The company can adjust allocations from month to month. This solution integrates with their in-house payroll system, Viewpoint, to pull real-time data such as benefit elections, state and federal withholdings, 401K contributions and more. The company can also forecast the total burden to the company by employee. The custom-built model enables the REIT to drill-down to the level of individual employee.

The solution relies on Workday Adaptive Planning OfficeConnect in the custom implementation. OfficeConnect enables the company to keep the formatting of its existing reports by simply importing the data from Adaptive Planning.



By working with Revelwood, which has significant experience in the REIT industry, this client gained “peace of mind.” More importantly, the Workday Adaptive Planning solution is easily handling the volume of data generated by this approach, with customized security options. The REIT can now allocate, forecast and budget based on individual employees.