Contact Information: Media Contacts: Derek Kober GlobalFluency 650-433-4233 Greg Schneider Adaptive Planning 650-810-0525
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
| Source: Adaptive Planning
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.