SOURCE: Adaptive Planning

Adaptive Planning

Adaptive Planning

March 30, 2010 08:00 ET

Pep Boys Implements Adaptive Planning's On-Demand Budgeting and Reporting Solution

MOUNTAIN VIEW, CA--(Marketwire - March 30, 2010) -  Adaptive Planning, the worldwide leader in on-demand financial planning and reporting solutions, today announced that The Pep Boys -- Manny, Moe & Jack (NYSE: PBY), the nation's leading automotive aftermarket service and retail chain, has implemented Adaptive Planning's solution for managing the budgeting process across multiple divisions and 580 stores.

"We are delighted to partner with Pep Boys to provide financial planning and reporting solutions," said William A. Soward, Adaptive Planning's CEO. "As a service suite, our software is designed to help companies of all sizes more easily and quickly compare actuals to plan, conduct 'what-if' analyses, make strategic decisions and take action. We are pleased to have been able to deploy a complete budgeting and reporting solution that supports Pep Boys' extensive network of stores -- and in just six weeks."

Some other benefits of the Adaptive Planning solution include:

  • Better access to information, improving Pep Boys' ability to adjust to shifting consumer spending trends
  • Flexible modeling environment that supported the creation of sophisticated driver-based financial models
  • Intuitive interface that allowed non-technical users to be trained quickly and remotely
  • Rapid implementation and training times enabled an immediate impact on the business
  • Significant savings in license fees and IT costs compared to on-premise alternatives resulted in greater cost effectiveness
  • Access to online training and Adaptive Planning's team of financial planning experts, together with a "no IT required" solution, allowed Pep Boys to go live without pulling IT or finance resources off other important projects

"With Adaptive Planning, we were able to save approximately 600 man hours in the first budgeting cycle alone, which allowed our team to spend more time on high-value analysis rather than lower-value process management," said Phil McAllister, director of budgeting and internal reporting for Pep Boys. "We've had exceptional buy-in from our users because we were able to keep our familiar templates while improving the distribution, collection and analysis processes. This overall approach results in greater accuracy, improved ownership and accountability throughout the organization and a more strategic financial management process."

Since switching over to Adaptive Planning, Pep Boys received the BeyeNETWORK 2009 Vision Award for Business Impact in the software-as-a-service business intelligence category and a finalist designation in the Ventana Research Leadership awards category.

About Pep Boys
Pep Boys has approximately 6,000 service bays within over 580 retail stores located in 35 states and Puerto Rico. Along with its full-service vehicle maintenance and repair capabilities, the Company also serves the commercial auto parts delivery market and is one of the leading sellers of replacement tires in the United States. Customers can find the nearest location by calling 1-800-PEP-BOYS or by visiting http://www.pepboys.com

About Adaptive Planning
Adaptive Planning is the worldwide leader in on-demand financial planning and reporting solutions that increase efficiencies and drive agile decision making in midsized companies and divisions of corporations. 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 streamlining and elevating your financial management. Adaptive Planning is headquartered in Mountain View, Calif. and can be reached at 650-528-7500 or www.adaptiveplanning.com.

Contact Information

  • Media Contacts:
    Derek Kober
    GlobalFluency
    650-433-4233
    Email Contact

    Greg Schneider
    Adaptive Planning
    650-810-0525
    Email Contact