SOURCE: Adaptive Insights

Adaptive Insights

June 21, 2017 10:00 ET

Adaptive Insights Honors "Torchie" Award Winners at Adaptive Live

Recognizes Excellence in Strategic Finance, FP&A, and CFO Leadership

PALO ALTO, CA--(Marketwired - Jun 21, 2017) - Adaptive Insights, a leader in cloud corporate performance management (CPM), has announced the winners of its annual Torchie Awards, recognizing customers who have achieved excellence in strategic finance categories such as Business Partnering and Collaborative Planning, Strategic Impact, and CFO Leadership. Torchie Award winners include Blue Cross Blue Shield of Rhode Island, CallidusCloud, Clarke, Comvita NZ Limited, Fastems, EPCOR Utilities, Room to Read, and Sioux Steel. Named for the Adaptive Insights logo, the "Flame of Insights," the Torchie awards were presented at Adaptive Live 2017, the company's annual global user conference attended by more than 1,400 finance professionals.

"Our customers are leading the industry with best practices for finance and FP&A, which, in turn, results in their ability to impact corporate performance," said Robert S. Hull, founder and chairman of Adaptive Insights. "For me, this is the highlight of our user conference: recognizing customers that have implemented Adaptive Insights' solutions to achieve -- and exceed -- their business goals. They are leading the way in helping finance and business users adopt a more agile, analytics-driven planning and reporting process. Congratulations to all the winners."

Adaptive Insights proudly presented Torchie Awards to the following customers:

Blue Cross Blue Shield of Rhode Island: Planning Beyond Finance Award
A leading provider of health insurance products and services, Blue Cross Blue Shield of Rhode Island leveraged the Adaptive Suite to help manage pricing impact, timeline impact, and the expense and capital requirements of strategic IT projects being implemented in its organization. With the Adaptive Suite, Blue Cross Blue Shield of Rhode Island was able to drive better ownership and richer, data-driven analysis by operational managers and manage resource utilization.

CallidusCloud: Modeling and Planning Accuracy Award
CallidusCloud is a global leader in cloud-based sales, marketing, learning, and customer experience solutions. The finance team was focused on improving both topline and bottom line accuracy. Using the CallidusCloud Territory and Quota solution for operational planning and the Adaptive Suite for financial modeling, the FP&A team developed a sales productivity-based bookings model and a services capacity model that significantly improved financial accuracy.

Clarke, Sarah Sebby: Torchbearer of the Year Award
Sarah Sebby, FP&A manager at Clarke, which pioneers, develops, and delivers environmentally responsible solutions for public health mosquito control and lake and pond management, was recognized for her consistent contribution to the community discussion forums. Participating in the Adaptive Insights early software access program and with a certification on the Adaptive Suite, Sebby was lauded for her involvement with the growing community of Adaptive Suite users.

Comvita New Zealand: Modeling Ingenuity Award
Comvita is a New Zealand-based manufacturer of natural products including its flagship product, Manuka honey. Its growth strategy involves continuously introducing new product innovations to extend its core honey business. The Comvita finance team used the Adaptive Suite to model product expansions and helped the Comvita Innovation team evaluate the business case for proposed innovations, incorporating these into a bottom-up rolling forecast as well as a top-down, five-year forecast.

EPCOR, Guy Bridgeman: CFO Leadership Award
EPCOR is a utility company in Edmonton, Alberta with about 2,700 employees managing diverse businesses across multiple geographies. EPCOR's CFO had a vision for his organization: to standardize, to simplify, and to automate traditionally labor-intensive and costly processes. Using the Adaptive Suite, Bridgeman did just that, improving accuracy and efficiency, creating a collaborative environment and elevating the role of finance to that of strategic partner to operational managers. Overall, these outcomes, in turn, are expected to reduce EPCOR's regulatory risk and improve financial results.

Fastems: FP&A Efficiency Award
Based in Finland, Fastems is the leading independent manufacturer of factory automation systems. Challenged with complex monthly, quarterly, and annual rolling forecasts across 12 countries and three separate business units, the team at Fastems needed to streamline their finance approach. Using the Adaptive Suite, Fastems was able to significantly reduce its consolidated close and reporting to just four days and produce monthly rolling forecasts that each include three scenarios.

Room To Read: Business Partnership and Collaborative Planning Award
Room To Read is a leading non-profit focused on girls' education and children's literacy in Asia and Africa. With a worldwide organization of over 1,400 people, the Room to Read finance team is small, but mighty. They spread across 12 different time zones and have 300 people contributing to planning and forecasting. Using the Adaptive Suite, they are able to ensure there is alignment and ownership to support decision-making, exemplifying collaborative planning.

Sioux Steel: Strategic Impact Award
Sioux Steel manufactures and markets commercial bins and farm grain storage systems. Managing daily, weekly, and monthly financial and operational metrics, the finance team created executive dashboards, rolling forecasts, and enabled self-service reporting using the Adaptive Suite. With greater measurement and accountability, the resulting ongoing strategic discussions helped improve the bottom line of the organization even while top line growth stagnated.

For more information about the winners, read the blog "Top Six Takeaways from Adaptive Live 2017."

About Adaptive Live 2017
This year's Adaptive Live user conference marked the largest gathering of finance and business leaders to-date, attracting over 1,400 participants from 580 organizations in 35 industries on five continents who gathered in San Francisco to share strategies, best practices, and valuable insights. The event featured an industry-leading lineup of nearly 100 finance luminaries, keynote speakers, and customer leaders, including guest keynote Adam Steltzner, NASA engineer, and cloud expert Byron Deeter, partner at Bessemer Ventures.

Adaptive Insights
Adaptive Insights is the recognized leader in cloud corporate performance management (CPM). The company's Adaptive Suite enables companies of all sizes to collaboratively plan and model, easily access real-time analytics, streamline complex financial reporting, and accelerate financial consolidation. With this best-practice active planning process, Adaptive Insights differentiates with easy, powerful, and fast software that empowers more than 3,500 customers in over 50 countries to drive business success.

Adaptive Insights is a privately held company with headquarters in Palo Alto, CA. To learn more, visit adaptiveinsights.com.

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