MOUNTAIN VIEW, CA--(Marketwire - Nov 14, 2012) - Adaptive Planning, the worldwide leader in cloud-based corporate performance management (CPM) solutions for companies and nonprofits of all sizes, today announced that the University of Central Florida (UCF) College of Medicine, which utilizes the company's cloud based Adaptive Planning solution, was recognized by Ventana Research with the Business Collaboration Leadership Award as part of the 2012 Ventana Research Leadership Awards. This honor recognizes the UCF College of Medicine for leveraging Adaptive Planning's solution to innovate in business collaboration technology and improve the effectiveness and efficiency of the organization.
"We are honored to accept this award for our work with Adaptive Planning," said Steve Omli, Director of Finance for UCF College of Medicine. "Their software has allowed us to improve the way we do our budgeting and financial planning by streamlining the process and enhancing its accuracy. The reporting capabilities allow quick turnaround on information requests that can be tailored to an individual's needs."
With the help of Adaptive Planning, The UCF College of Medicine was able to dramatically improve their financial budgeting, planning and forecasting, enabling them to better manage their programs and staff and compete effectively for top students in medical education. Adaptive Planning's solution made it simple to consolidate plan data across departments and quickly and easily conduct what-if analysis and develop reports. The solution's features helped to improve planning across multiple areas, including personnel, revenue, capital asset allocation, and expenses, as well as their balance sheet and cash flow. Adaptive Planning makes it easier to manage different funding streams, including state support, research grants, clinical services, and foundation gifts, which were very difficult to consolidate into a unified plan in the previous Excel process.
"We congratulate the UCF College of Medicine and their impressive work to improve financial operations, enhance collaboration, and increase productivity," said Greg Schneider, Vice President of Marketing at Adaptive Planning. "At Adaptive Planning we are dedicated to helping CFOs and other business leaders more successfully understand, plan, and manage their businesses so they can deliver better results and ultimately drive a competitive advantage."
Adaptive Planning fundamentally changes the world of financial planning and reporting, and has become the de facto solution for cloud-based CPM, with more customers and more partners than all other cloud CPM providers combined. Adaptive Planning's software as a service (SaaS) delivery model presents significant advantages over traditional on-premise corporate performance management software, including 75 percent lower total cost of ownership, greater ease of use, and deployments that take just weeks instead of months. Adaptive Planning recently announced record year-over-year growth, $22 million in new funding, a breakthrough new visual discovery solution, a #1 ranking in customer satisfaction among all leading CPM vendors, and the acquisition of myDIALS, the leading provider of cloud data visualization solutions.
"UCF College of Medicine's work with Adaptive Planning is a great example of how important the collaborative process is for a company and its financial management," said Mark Smith, CEO and Chief Research Officer, Ventana Research. "We are thrilled to honor both the college and Adaptive Planning with the Business Collaboration Leadership Award."
The Ventana Research Technology Innovation Awards are an annual event. As part of the Innovation Awards scoring process and methodology, Ventana Research examined submissions and nominations from the research team to assess, score and select the technology that had the best impact for each category. The Leadership Awards presented the UCF College of Medicine with an award at the Ventana Research Business Technology Innovation Summit on November 8th at The Tech Museum in San Jose, CA.
About Adaptive Planning
Adaptive Planning is the worldwide leader in cloud-based corporate performance management (CPM) 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 Planning enables finance, sales, and other business leaders to make better, faster, more collaborative decisions that drive a true competitive advantage.
Adaptive Planning is used by over 1,400 organizations 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 8th fastest growing company in Silicon Valley on the Deloitte Technology Fast 500™ list; has the #1 brand in midmarket CPM; and ranks #1 in customer satisfaction in independent industry surveys. With customers and partners in 65 countries worldwide, the company has the strongest channel ecosystem in the cloud CPM space, with over 200 worldwide partners including Armanino McKenna, Intacct, IntuitiveTek, Plex Systems, SAP, and NetSuite, which offers a specialized version of Adaptive Planning as the NetSuite Financial Planning module. Adaptive Planning is headquartered in Mountain View, Calif. and is funded by Norwest Venture Partners (NVP), Royal Bank of Canada (RBC), ONSET Ventures, Monitor Ventures, and Cardinal Venture Capital.