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Adaptive Insights: A Trailblazer in Budgeting and Forecasting

CIO VendorTom Bogan, CEO For any business that is thriving amid the competitive economic climate, deciding on the year’s revenue budget can either be a rewarding or a risk decision regardless of the methods or tools implemented. Today’s enterprises are readily embracing informal and ad-hoc planning, budgeting, and forecasting processes while eliminating the unmanageable spreadsheets-driven traditional budgeting techniques to evolve in the increasingly data-driven world. These trends have consecutively changed the Chief Financial Officers’ (CFO) role, driving them to seek data integrity to derive accurate insights for business transformation. “Faced with a challenging macroeconomic environment and the need to provide a more holistic view of the business, CFOs are donning the role of ‘knowledge executive’ in the organization,” reveals Tom Bogan, CEO, Adaptive Insights. “As both the volume and sources of data increase, they are working across departments, driving toward a single source of truth that gives them a more consistent, comprehensive view of the organization in real time.

Heading into this scenario, Adaptive Insights is a pioneer in Cloud Performance Management (CPM) providing a Software as a Service (SaaS) enabled platform for budgeting, forecasting, reporting, consolidation, dashboards, and analytics that empower business leaders to gain the insights to add true competitive advantage. “By giving customers the tools they need to effectively analyze corporate performance, we are putting them on the fast track to uncover the key aspects that will accelerate and manage growth,” says Bogan.

With an industry presence of more than a decade, Adaptive Insights’ mission is to provide powerful, budgeting and forecasting solutions that aid companies to plan smarter, report faster, and analyze better, ultimately transforming business performance. The firm has helped organizations improve their balance sheet, cash flow plans, revenue forecasts, headcount analysis, budgets, while ensuring agility and improving business process. “Adaptive Insights had the vision to bet early on the CPM landscape could be reshaped by a cloud-based solution, providing new opportunities both to Excel users and companies that still relied on legacy on-premises solutions. That bet is paying off as finance and management teams everywhere now rely on Adaptive Insights to make faster, better-informed decisions,” asserts Bogan. Adaptive Insights’ forecasting software enables rolling forecasts with integrated driver-based scenarios that can be tuned in real time.

Boosting Finance with Cloud-Based CPM

Delivering breakthrough insights into business with CPM in the cloud is Adaptive Insight’s business performance management suite, Adaptive Suite. The suite helps organizations visualize performance, plan effectively, and monitor results regardless of the location. With Adaptive Suite in place, enterprises can accelerate and streamline financial close and gain powerful financial insights into business.


Adaptive Insights had the vision to bet early on that the CPM landscape could be reshaped by a cloud-based solution


As part of the Adaptive Suite, Adaptive Planning enriches planning processes with dynamic, interactive reports, and visual dashboards—eliminating the need of coding and bestowing a view of the corporate metrics, operational performance, and functional Key Performance Indicator (KPI). The cloud-based planning software unshackles budgeting, planning, and forecasting from risky spreadsheet-centric processes and accelerates productivity by more than 70 percent.This helps integrate revenue and expense planning, power rolling forecasts, and analyze performance with immediate adjust plans and forecasts based on visual exceptions and trends. The highly flexible planning software centralizes actuals, plans, forecasts, calculations, and cell notes to ensure integrity—from summary to detail. This is done by establishing a common data foundation that fuels trust and accountability, and ensures that the planning processes scale with business, moving beyond wrangling spreadsheets and fixing broken calculations.

From budgeting expenses to creating financial statements and forecasting revenue, Adaptive Planning accommodates all types of modeling—workforce, capital, and revenue— across all industries and sizes. Adaptive Planning’s financial and currency logic feature eliminates the complexities of departmental and global planning and the integrated planning maintains transparency throughout the organization. With the latest actuals, assumptions, and modules always at hand, along with truly responsive calculations and reports, Adaptive Planning enables organizations to proactively manage change, model outcomes, and course-correct at the pace of business demands. The software’s intuitive, web-based planning sheets make it simple to move from manual planning in Excel. They provide centralized data entry, instantly calculated results, organizational security, and workflow, eliminating duplicated effort and time wasted consolidating the plan. Further, the software has a built-in workflow that allows managers to review and approve plans, and the finance to visualize what has been submitted and approved, ultimately improving the art of audit trail.

For instance, the finance team of the San Francisco Ballet, an 83-year old fine art organization was facing financial challenges in terms of ticket sales and revenue. Being a non-profit organization, SF Ballet steadily relied on donations that could decrease significantly during economic downturns. In the midst of this difficult situation, the finance team was facing challenges in figuring out how to pirouette out of a budgetary conundrum without missing a step. Conveying financial data in the context of furthering an artistic vision, SF Ballet deployed Adaptive Planning to track profit and loss statements of individual performances. Upon implementing Adaptive Planning, the finance team of SF Ballet was able to craft actionable data stories using revenue planning and forecasting analytics. Adaptive Insights’ data-driven visibility empowered SF Ballet to stretch its resources without affecting what it does best—artistry on stage.

Automating Financial Consolidation

Designed for accounting, an important part of the Adaptive Suite, Adaptive Consolidation accelerates financial close with real-time financial consolidation and intercompany eliminations, while automating currency translations, reclassifications, and reporting cycles.A single system of record provides clients with the much needed transparency; from complete audit trails to journals. Adaptive Consolidation provides a single database for financial consolidation and planning, making it easy to track the budget. The software’s automated currency conversion and cumulative translation adjustment simplifies complex multi-currency financial consolidations and automatically calculates user-defined minority interest and ownership percentages.

Built for a better collaboration, Adaptive Consolidation enables employees to work together, prepare journal entries, import trial balances, and distribute financial reports with real-time status update, ensuring that all the stakeholders are on the same page. The Adaptive Consolidation allows organizations to close the extra mile with powerful reporting and analytics, with dashboards providing visibility and key variances from prior pirouettes. The consolidation software drills down into the details behind consolidated figures and possesses a built-in rule intelligence that automates intercompany eliminations, reclassifications, and allocations.

Changing the Finance Game Plan

With Adaptive Insights’ market share escalating across enterprise and midsize companies, it now has over 3,000 customers, more than three times the customers of all other cloud CPM competitors combined. The company’s intuitive solutions are powering the fastest growing and biggest brands like Applied Micro, BDO Canada, Cal Poly San Luis Obispo, and Epcor Utilities.

With Adaptive Suite in place, enterprises can accelerate and streamline financial close and gain powerful financial insights into business

Steered by a group of highly talented leaders, Adaptive Insights plans to continue its corporate and industry leadership with key milestones. “Looking ahead, we anticipate continued demand, particularly in the enterprise where cloud solutions are replacing on-premises software. As a result, we are scaling our global teams and operations to meet this demand and move into our next phase of growth,” says Bogan. In addition to becoming a Workday certified solutions partner, Adaptive Insights has also expanded globally with 19 new partners in six countries, including Canada, Singapore, and South America. “The finance game has changed, and Adaptive Insights’ products and services are empowering customers to gain a holistic view of their organizations in order to drive strategic outcomes. This move from tactical to strategic finance is a huge—but necessary—shift for organizations of all sizes in our data-driven world,” concludes Bogan.

- Urmi Sengupta
    March 14, 2016