-- The stakes for financial planning and reporting are higher than ever
before.
-- Companies need to budget, re-forecast, and create "what-if" scenarios
more frequently, more quickly, and more accurately.
-- In this environment, spreadsheet-based processes are no longer
adequate -- they are far too slow, error-prone, and non-collaborative.
-- During times of uncertainty, finance teams need to spend less time
managing the planning process, and more time managing the business.
-- There is an increased need to manage to metrics (e.g., keeping
expenses in-line with plans) -- even when companies are growing and as the
economy begins to recover.
These responses reinforce findings from other recent surveys. A BPM Forum
and Adaptive Planning survey of financial professionals taken in Q2 2009
revealed a sea-change in companies' planning activities, with over 50
percent re-planning, re-forecasting, or creating what-if analyses two or
more times in the previous quarter, and over 50 percent expecting to do
more what-if analysis going forward.
The recent customer interactions also shed light on why companies are
choosing Adaptive Planning. Frequent responses included:
-- Affordable subscriptions, starting as low as $600 per user per year,
fit within current budget constraints.
-- Rapid implementation times and low implementation costs, with average
deployments taking just two weeks of consulting time, allow companies to
make an immediate impact.
-- Easy to use, web-based interface makes it easy to train staff and roll
out to users of all levels throughout the company.
"We are pleased to provide a valuable solution that enables companies to
address their increased needs for planning in a challenging economy," said
William A. Soward, CEO of Adaptive Planning. "Given the ongoing uncertainty
around the timing and strength of a recovery, this year's budgeting season
will be particularly challenging. We look forward to helping many more
companies successfully plan for and manage through 2010 and beyond."
Customer Quotes:
"As we've continued to grow, we've needed to shift from focusing on the
logistics of the planning process to the strategies and tactics required to
continue scaling the business. Adaptive Planning's TCO convinced us that it
was the right tool at the right time." Scott Bennion, CFO, Jaspersoft --
provider of the market leading open source business intelligence software.
"My frustration with Excel drove me to an automated budgeting and planning
solution. I simply didn't have excess staff hours to allow for the
continuation of inefficient processes -- and in this economy couldn't
afford to add to staff. I decided to move forward with Adaptive Planning
because it was priced right, had impressive functionality, and was easy to
configure and roll out to the team." Jerry Caruso, Corporate Controller,
Konarka -- a clean tech company that manufactures solar plastic films for
converting light to energy.
"Budgets are all the more crucial in the current economy, considering the
need to re-forecast more often. Rolling up budgets from 40 different cost
centers in Excel was a huge pain point for us. Adaptive Planning allows us
to do this much more easily, and also improves our ability to report on and
analyze our results on a monthly basis." Shyam Desigan, CFO, Volunteers of
America Chesapeake -- a nonprofit human services agency.
"In this economy, speed and accuracy of budgeting are of critical
importance -- the cost of a 'budgeting error' is multiplied given the
current environment. With a dynamic landscape, a planning process of weeks
is not acceptable -- we needed to be able to create accurate what-if
scenarios on a weekly basis, with low overhead. We chose Adaptive Planning
based on the attractive ROI -- particularly the low implementation costs --
and ability to go live in just 5 days." Adrian King, CFO, CIMTEK -- a
provider of Quality Lifecycle Management test solutions for the medical
electronics, aerospace, automotive, high-tech and industrial control
industries.
"Excel had become too cumbersome for a company of our size, with a $20
million budget and multiple departments. I liked the affordability of
Adaptive Planning's per user subscriptions. In addition, I appreciated the
fact that it was easy to implement and use, since I was on a short time
frame to get a solution in place and rolled out to our staff." Stephanie
Murphy, CFO, Air-Conditioning, Heating, and Refrigeration Institute (AHRI)
-- the trade association representing more than 300 manufacturers of air
conditioning, heating and commercial refrigeration equipment.
"The process of budgeting, forecasting, planning and reporting, even in a
small organization, can be perilous. Inconsistent assumptions,
misunderstandings and lack of alignment can undermine the credibility of
your numbers. Adaptive Planning allows us to translate our vision to paper
without worrying if our formulas are correct and our assumptions are
consistent. It's a powerful technology, backed up by a strong, experienced
organization." Grant Young, President & CEO, ProVerify -- a provider of
professional employment screening services.
About Adaptive Planning
Adaptive Planning is the worldwide leader in on-demand financial planning
and reporting solutions that improve operational efficiency, strengthen
companywide collaboration, and drive better business decisions in companies
of all sizes. Adaptive Planning makes it easy to move beyond spreadsheets
and automate budgeting, forecasting, reporting, and "what-if" analysis,
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 is the
fastest and easiest way for finance organizations to enhance their agility
and strategic value. Adaptive Planning is headquartered in Mountain View,
Calif. and can be reached at 650-528-7500 or www.adaptiveplanning.com.
Contact Information: Media Contacts: Derek Kober GlobalFluency 650.433.4233 Greg Schneider Adaptive Planning 650.810.0525