SOURCE: Adaptive Insights

Adaptive Insights

July 16, 2014 08:00 ET

Adaptive Insights Unveils Corporate Financial Impact & Technology Trends Data

Financial Pros Cite Climbing Gas Prices, Healthcare Reform and Mid-Term Elections as Key Business Disruptors for 2014, but 73% Lack Ability to Quickly Replan Around Them

PALO ALTO, CA--(Marketwired - Jul 16, 2014) - Adaptive Insights, the worldwide leader in cloud business analytics for the biggest brands and the hottest companies, today issued financial impact & trends benchmark research on corporate performance, spotlighting trends and new findings from a survey of finance professionals. The report found that healthcare has dominated worries in the past year, followed closely by the U.S. government budget crisis. While healthcare is predicted to remain a top concern for 2014, spikes in gas prices rank even higher this year. The report includes findings from a survey of more than 300 finance professionals to better understand key concerns, technology trends and adoption, and future directions within financial planning.

Less than one-third say they could replan in a matter of days in response to business disruptors such as stock market volatility or severe weather events. The majority, 73%, wouldn't be able to adjust and adapt their financial plan for weeks (47%) or even months (26%).

Cloud-Based Financial Solutions Gain Traction, Legacy Market Waning

Today's financial professionals are beginning to believe bigger risks come into play if cloud-based financial planning solutions aren't in place. Seventy-one percent of recent post-IPO companies would prefer to use cloud-based solutions for financial planning, followed by the majority of the Fortune 500 companies surveyed. Ease of use was reported as the biggest advantage of cloud-based solutions by Fortune 1000 companies, while Fortune 500 companies saw less reliance on IT to be the biggest benefit of the cloud. Emerging companies and those with recent IPOs looked to the cloud's cost savings as a key factor.

When it comes to financial planning and forecasting, 86% would prefer not to use legacy on-premises solutions. And of those companies currently using legacy solutions, three times more would prefer a cloud solution to their current system. Similarly, 82% feel that legacy systems are inefficient for financial planning.

Lifting the Burden of Excel

The majority (65%) of financial professionals have strong feelings about what they would rather be doing than refreshing and reformatting Excel reports. Unpleasant alternatives such as reporting to jury duty, sitting in bumper-to-bumper traffic, waiting in line at the DMV and getting a cavity filled were all cited as preferable to dealing with Excel.

The survey's findings around the current and future adoption of cloud-based financial planning services are consistent with the rapid market adoption and growth of Adaptive Insights' solutions. With more than 2,200 customers, Adaptive experienced more than 100% year over year growth in new software bookings in the second quarter of 2014.

A summary of report findings is available at blog.adaptiveinsights.com.

About the Adaptive Insights Financial Impact and Trends Survey

The financial impact and trends survey data spotlights trends and new findings from a global survey of financial professionals regarding the external and internal factors impacting their businesses and how they prepare for, and react to, them. In addition, the report sheds light on financial professionals' attitudes towards the technologies they can use for financial planning and analysis. Three hundred and twenty-five financial professionals were polled via an online survey between April 21 and April 28, 2014. The margin of error is +/-5.29 percentage points.

About Adaptive Insights

Adaptive Insights is the worldwide leader in cloud business and financial analytics solutions for companies and nonprofits of all sizes. The company's software as a service (SaaS) platform allows finance and management teams to work together to plan, monitor, report on, and analyze financial and operational performance. With capabilities for budgeting, forecasting, reporting, consolidation, dashboards, and business intelligence, Adaptive Insights enables finance, sales, and other business leaders to make better, faster, more collaborative decisions that drive a true competitive advantage.

Adaptive Insights is used by over 2,200 customers worldwide, from midsized companies and nonprofits to large corporations, including AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Vail Resorts. The company is the #1 fastest growing cloud business analytics and CPM software company on the Deloitte Technology Fast 500™ list; ranks #1 in revenue and market share growth among Gartner Top 10 CPM providers; and is #1 in customer satisfaction in independent industry surveys. With customers and partners in over 85 countries worldwide, the company has the strongest channel ecosystem in the cloud CPM space, with worldwide partners including Armanino, Intacct, IntuitiveTek, Plex Systems, SAP, and NetSuite, which offers Adaptive Insights as the NetSuite Financial Planning Module. Adaptive Insights is headquartered in Palo Alto, Calif. and is funded by Bessemer Venture Partners (BVP), Norwest Venture Partners (NVP), Royal Bank of Canada (RBC), ONSET Ventures, Monitor Ventures, and Cardinal Venture Capital.

For more information, visit www.AdaptiveInsights.com, the Adaptive Insights Blog, and follow Adaptive on LinkedIn, Twitter, Facebook, and YouTube.

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