SOURCE: Adaptive Planning

January 19, 2010 08:00 ET

Adaptive Planning Reports Record 2009 Results and Strong Momentum in the Face of a Challenging Economy

Rapid Revenue and Customer Growth, NetSuite Relationship, Innovative Product Introductions and Significant Industry Recognition Represent Major Company Milestones

MOUNTAIN VIEW, CA--(Marketwire - January 19, 2010) - Adaptive Planning, the worldwide leader in on-demand financial planning and reporting solutions for companies of all sizes, today announced that 2009 was the strongest year in the company's history. Adaptive Planning posted record revenues, significantly grew its customer base, announced a major distribution relationship with NetSuite, introduced several new product releases, garnered substantial industry recognition, and extended its executive team.

In 2009 Adaptive Planning grew revenues over 70 percent compared with 2008. A remarkable 70 percent win rate in qualified deals helped the company increase its total customer base to over 660 clients.

Recent Adaptive Planning customers range from pre-revenue start-ups to multi-billion dollar corporations, and hail from a variety of industries, including the business services, energy, healthcare, financial services, insurance, manufacturing, nonprofit, and software sectors. International companies represented 18 percent of new clients.

Notable new customers in 2009 include Bunzl Distribution, Catholic Charities USA, CORT -- A Berkshire Hathaway Company, Embraer Aircraft Holding Inc., International Power America, Jigsaw Data Corporation, NANA Management Services LLC, Odyssey Healthcare, San Francisco Ballet, Teradyne and Vail Resorts.

The challenging economic environment over the past year highlighted Adaptive Planning's unique value proposition for companies of all sizes. The extremely high level of economic uncertainty has increased finance organizations' requirements for more frequent and accurate re-planning and what-if analysis, which allow them to make better-informed business decisions with greater agility. In this environment, Adaptive Planning's affordable, quick to implement and easy to use planning and reporting solution is an ideal option. It fits companies' budget realities and goes live quickly -- requiring just 2 weeks of consulting time on average -- which allows teams to have an immediate impact on managing their businesses.

Strategic Partnerships

Of particular note, in June Adaptive Planning announced that it had signed an agreement with NetSuite that significantly extends the company's distribution capabilities. NetSuite is now making Adaptive Planning available to its base of 6,600 existing on-demand customers, as well as new prospects, as its NetSuite Financial Planning module.

In addition, Adaptive Planning continued to strengthen relationships with other industry leaders, including ADP, Intacct, Intel, and Multiview. All told, partners influenced approximately one-third of Adaptive Planning's business in 2009.

Over 200 firms in North America, Europe, Asia and South America now work closely with Adaptive Planning to drive joint marketing and sales activities and deliver services.

Innovative Product Introductions

In 2009, Adaptive Planning introduced several new product releases and offerings. In June, the company announced Adaptive Planning 6.0, a major new product release that delivered powerful multi-dimensional planning features and best-in-class integration with NetSuite. Concurrently, the company announced a new benchmarking initiative to give finance organizations access to previously unavailable information, including both backward- and forward-looking comparative metrics. Taken together, the new product features and benchmarking initiative established a new standard for business performance management solutions, delivering comprehensive data and information that allow companies of all sizes to make better, more agile business decisions and enhance their overall competitiveness.

The company also introduced two minor releases, Adaptive Planning 5.5 and 6.5. These releases delivered multiple enhancements to the solution's planning, reporting, and collaboration capabilities, extended data integration capabilities, and expanded local language support. Adaptive Planning is now available in English, French, German, Spanish, Japanese, Chinese, and Russian.

In October, Adaptive Planning introduced new QuickStart Bundles to address the significant time and resource challenges facing many companies. These offerings, which combine software licenses and QuickStart services packages at discounted prices, are designed to make it even faster and more affordable for companies to transition from outdated, spreadsheet-based planning and reporting processes to Adaptive Planning's award-winning, web-based solution.

Finally, in February the company introduced a rescue package for organizations adversely affected by Microsoft's announcement that they are discontinuing sales and development of PerformancePoint, their financial planning solution. The program features a 75 percent discount off Adaptive Planning's subscription fees for Microsoft PerformancePoint and Forecaster customers.

Industry Awards and Awareness

In 2009 Adaptive Planning won numerous industry awards for product innovation and overall company success. These prestigious awards included the Software and Information Industry Association's CODiE Award for Best Business Intelligence Solution, the Red Herring 100 North American Award, the Technosium Hot Company Award, the BeyeNetwork Vision Award for SaaS BI, and Think Strategies' Best of SaaS Showcase Award. Additionally, the company was named a CRN Emerging Vendor, and was the only multi-tenant software as a service (SaaS) provider to be awarded Core Vendor status in BPM Partners' annual Pulse Survey, where it also achieved top-tier customer satisfaction marks.

Adaptive Planning also received significant media attention, receiving coverage from Forbes.com, Investor's Business Daily, CFO Magazine, CIO Magazine, Business Finance, ZDNet, Intelligent Enterprise, InformationWeek, BeyeNetwork, San Jose Business Journal, CRN/ChannelWeb, AccountingWeb, and Accounting Today/WebCPA, among others.

Executive Leadership

In January 2009 Adaptive Planning announced that it had further strengthened its experienced leadership team with the appointment of Hamid Bahadori as Vice President of Engineering and Hosted Operations. Bahadori has a long history of defining and delivering world-class software in both traditional on-premise and hosted environments. Previously, Bahadori served as Vice President of Engineering and Hosted Operations at WebTrends, Vice President of Engineering at Coremetrics, and Senior Vice President of Engineering at Actuate.

About Adaptive Planning

Adaptive Planning is the worldwide leader in on-demand financial planning and reporting solutions that improve operational efficiency, strengthen companywide collaboration, and drive better business decisions in companies of all sizes. Adaptive Planning makes it easy to move beyond spreadsheets and automate budgeting, forecasting, and reporting, without the cost and complexity associated with traditional business intelligence and BPM software. With free software, free trials, and both on-demand and on-premise deployment options, Adaptive Planning provides the fastest and easiest approach to streamline and elevate your financial management. Adaptive Planning is headquartered in Mountain View, Calif. and can be reached at 650-528-7500 or www.adaptiveplanning.com.

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