SOURCE: Adaptive Planning

October 14, 2008 08:00 ET

Adaptive Planning Announces Significant UK Customer Traction and Momentum

On-Demand Financial Planning and Reporting Solutions Leader More Than Triples Its UK Customer Base in 2008 With Major Customer Wins in Multiple Industries

MOUNTAIN VIEW, CA--(Marketwire - October 14, 2008) - Adaptive Planning, the worldwide leader in on-demand financial planning and reporting solutions for companies of all sizes, today announced significant business momentum in expanding its customer base and reach in the United Kingdom. The company more than tripled its UK customers in just the first three quarters of 2008 and has also signed seven new partners, including planning, reporting, and analytics specialists Brovanture and Clear Plan.

"We are delighted with our customer and partner growth in the UK this year," said William A. Soward, President and CEO of Adaptive Planning. "We're seeing that there is a global demand for affordable, rapidly-deployable, and user-friendly budgeting, forecasting, and reporting solutions. We look forward to continuing to grow our UK and other international business aggressively as we move ahead."

As the first pure software as a service (SaaS) solution in the business performance management (BPM) space, Adaptive Planning provides powerful, flexible, and easy-to-use software without the exorbitant costs or lengthy installations associated with enterprise BPM and business intelligence packages. No new hardware, software, or IT support is required; deployments average less than 2 weeks of consulting time; and business users require under an hour of training. This model of delivery, along with its robust features and functions, have proved attractive to numerous UK companies and organizations, including August Equity LLP, Chesapeake PLC, Sense, Thomas Miller, U4EA Technologies, and Willerby Holiday Homes.

Adaptive Planning UK customers range from under $2 million dollars to over $2 billion in annual revenues and include both privately-held and publicly traded companies. These companies also hail from wide variety of industries, including banking and financial services, business services, charities, consumer packaged goods, healthcare, manufacturing, retail and wholesale distribution and software.

"With Adaptive Planning, we are transforming our annual budgeting exercise into a rolling process that is light to use and focused on our key business drivers," said Guy Faller, Controller, Chesapeake Corporation, an Adaptive Planning customer with activities mainly in the British Isles and Continental Europe. "We aim to involve more people throughout the organization to improve the alignment of financial goals and objectives with operational processes, and to ensure that we maintain an up-to-date picture of where we are heading. Adaptive Planning was chosen for its forecasting rigor combined with an intuitive feel that makes it quick to learn and easy to use, enabling the production of regular high quality forecasts with relative ease, which is particularly important in an uncertain economic environment."

Adaptive Planning plans to significantly expand its UK and European sales channel and sales efforts in the coming year, aided by strong partners like Clear Plan and Brovanture.

"We are experiencing strong demand for the Adaptive Planning solution in the UK," said Brian Rumbles, Director of Clear Plan. "The need to be more agile and adept in planning and budgeting in today's economic environment, combined with a need for affordable software solutions, is driving significant inquiries and opportunities."

Adaptive Planning will be exhibiting at Softworld in London on 14 and 15 October 2008 at Stand AF201a and the company's executives will be conducting a series of executive seminars in Manchester, Birmingham, and London on October 21, 22, and 23. To register, and for more information, please visit http://www.adaptiveplanning.com/news/events.php.

About Adaptive Planning

Adaptive Planning is the worldwide leader in on-demand planning and reporting solutions that streamline financial processes strengthen collaboration, and drive better-informed, more strategic 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.

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