SOURCE: Adaptive Insights

Adaptive Insights

December 16, 2015 11:00 ET

Adaptive Insights Brings the Art of Financial Planning and Visualization to San Francisco Ballet

Simplifies Planning and Enables Profitability Analytics by Show

PALO ALTO, CA--(Marketwired - Dec 16, 2015) -  Adaptive Insights, the leader in cloud corporate performance management (CPM) for the biggest brands and the hottest companies, today announced that the San Francisco Ballet, America's oldest professional ballet company, has implemented Adaptive Planning for advanced revenue planning and forecasting analytics. The ballet company required tools that would enable it to gain a holistic view of its finances, reduce planning cycle times, and better understand the financial implications of programming decisions. 

"Adaptive Insights software has given us a new way of seeing the numbers so that we can gain insights into how our decisions on the artistic side impact our finances," said Kim Ondreck Carim, chief financial officer (CFO) of the San Francisco Ballet. "In addition to being able to conduct profitability analysis by show for the first time, we have reduced our planning cycles from over a month to just under one week. This makes us much more financially agile and allows us to focus on our true passion-bringing the joy of dance to a global community."

Known for performing the first American productions of Nutcracker and Swan Lake, the San Francisco Ballet today presents over 100 shows annually and is one of the 3 largest ballet companies in the U.S. Throughout its 83-year lifespan, the non-profit organization has worked to determine the best way to apply donor dollars through economic ups and downs. It has relied on a complex process of maintaining data in spreadsheets which has lengthened planning time and inhibited the ability to perform forecasting analytics. By using Adaptive Planning, part of the Adaptive Suite, it can now track profit and loss statements by performance -- a level of detail that the general ledger simply couldn't handle. Since each performance's profitability can vary by as much as $3 million, the ability to analyze profitability by show is critical to the ballet company's success.

"Non-profit organizations always face the dilemma of how to do more with less," said Carolee Gearhart, senior vice president, international sales & global channels at Adaptive Insights. "Our software not only ensures that dollars are allocated wisely, but also makes the best use of the financial team's time. Using Adaptive Insights software, San Francisco Ballet budget managers can easily input data, create reports, and gain data-driven visibility into the company's finances."

To read more about the San Francisco Ballet's finance team, visit Adaptive Insight's blog.

About Adaptive Planning

Adaptive Planning enables users to move away from risky spreadsheet-centric processes and conduct budgeting, planning, and forecasting in the cloud. As a result, organization can integrate revenue and expense planning, power rolling forecasts, and analyze performance -- all while accelerating productivity by more than 70%.

San Francisco Ballet
As America's oldest professional ballet company, San Francisco Ballet has enjoyed a long and rich tradition of artistic "firsts" since its founding in 1933, including performing the first American productions of Swan Lake and Nutcracker, as well as the first 20th-century American Coppélia. San Francisco Ballet is one of the three largest ballet companies in the United States. Guided in its early years by American dance pioneers and brothers Lew, Willam, and Harold Christensen, San Francisco Ballet currently presents more than 100 performances annually, both locally and internationally. Under the direction of Helgi Tomasson, the Company has achieved an international reputation as one of the preeminent ballet companies in the world. In 2005, San Francisco Ballet won the prestigious Laurence Olivier Award in the category of "Outstanding Achievement in Dance" and in 2006, it was the first non-European company elected "Company of the Year" in Dance Europe magazine's annual readers' poll. In 2008, the Company marked its 75th anniversary with a host of initiatives including an ambitious New Works Festival. In October 2013, the Company performed at New York's David H. Koch Theater at Lincoln Center, where The New York Times declared San Francisco Ballet "a national treasure." 2015 marks the 30th anniversary of Helgi Tomasson's tenure as artistic director of San Francisco Ballet.

Adaptive Insights
Adaptive Insights is the leader in cloud corporate performance management (CPM). Via its software as a service (SaaS) platform, the company offers capabilities for budgeting, forecasting, reporting, consolidation, dashboards, and business intelligence that empower finance, sales, and other business leaders with insight to drive true competitive advantage. The Adaptive Suite is sold direct or is available through Adaptive Insights' robust cloud CPM channel ecosystem of 200+ partners, including Accenture, Armanino, BDO, Cohn Reznick, Intacct, KPMG, McGladrey, Plex Systems, and Workday, Inc. NetSuite also offers Adaptive Insights as its NetSuite Financial Planning Module.

More than 2,800 companies in 85 countries use Adaptive Insights. These range from mid-sized companies and nonprofits to large corporations, including AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Siemens. Adaptive Insights is headquartered in Palo Alto, Calif. For more information, visit www.AdaptiveInsights.com, the Adaptive Insights Blog, and follow Adaptive Insights on LinkedIn, Twitter, Facebook, and YouTube.

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