SOURCE: Adaptive Planning

Adaptive Planning

September 23, 2013 08:00 ET

Adaptive Planning Receives Top Rating for Customer Experience in Financial Performance Management Evaluation by Independent Research Firm

Adaptive Wins Highest Praise From Surveyed Customers Who Cited Ease of Use and Fast Time to Value

PALO ALTO, CA--(Marketwired - Sep 23, 2013) - Adaptive Planning, the worldwide leader in cloud-based business analytics solutions for organizations of all sizes, today announced that Forrester Research, Inc. gave Adaptive the top rating, a 5, for Customer Experience -- the highest of any vendor in its financial performance management report. According to "The Forrester Wave™: Financial Performance Management, Q3 2013" report, "Adaptive Planning won the highest praise from customers in our reference survey, citing ease of use and fast time-to-value."

According to the report, Financial Performance Management (FPM) is a big and growing market. "The FPM market is growing because more finance professionals see these solutions as a way to address their top challenges in planning, compliance, and management reporting. This growth is largely due to the fact that finance pros can no longer rely solely on Excel for planning, reporting, or more sophisticated forecasting and analysis."

At the same time, Forrester acknowledges the challenges faced by finance professionals in deploying and maintaining on-premises solutions for Financial Performance Management (FPM). As a result, "As on-premises applications become outdated and difficult to maintain, SaaS becomes more attractive to firms seeking faster implementation, lower cost, and easier upgrades." The report also states, "FPM buyers place a premium on flexibility, easy upgrades, and usability." 

In describing the company, the report states: "Adaptive Planning makes planning and analysis quick and easy. Adaptive Planning is a rapidly growing SaaS FPM vendor with strong financial backing. Its product offers intuitive capabilities for planning and performance analysis and a maturing offering for financial consolidations."

According the report: "Today's generation of FPM systems are designed to be set up and managed by business professionals and updated more frequently -- and less disruptively -- by the vendors. Usability continues to advance in delivering graphical visualizations of FPM data." 

Adaptive addresses this need for more graphical and visual analytics with a much more intuitive cloud interface. With its broad suite of business analytics and performance management solutions, including Adaptive Planning, Adaptive Discovery, and Adaptive Consolidation, Adaptive Planning provides the most comprehensive and integrated set of cloud applications on the market. 

With more than 1700 customers and 50,000 active users in 82 countries, Adaptive is the clear leader in cloud business analytics. With new software bookings growth of 90 percent in 2012, Adaptive ranked as the fifth fastest growing software company in Silicon Valley on the Deloitte Fast 500 and appeared on the JMP Hot 100 list. In addition to receiving the top ranking for Customer Experience by Forrester in this report, the company consistently ranks #1 in customer experience in third party industry surveys, including those by BPM Partners, Nucleus Research, and other leading analyst firms. 

"We believe that the Adaptive Planning recognition in the Forrester Wave report echoes much of what we are hearing in terms of the intuitive usability, rapid time to insight, financial stability, and growth that we uniquely offer," said John Herr, CEO of Adaptive Planning. "Financial professionals need a cloud-based alternative to Excel at the low end and cumbersome on-premises technology at the high end, and we provide the best experience and solution to address these market shortcomings. In our first appearance in a Forrester Wave report, we believe we have established clear leadership in terms of the customer experience, market presence, and reach in a fast-growing market for business analytics and performance management."

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About Adaptive Planning
Adaptive Planning is the worldwide leader in cloud-based business 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 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 1,700 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 5th fastest growing software company in Silicon Valley on the Deloitte Technology Fast 500™ list; has the #1 brand in midmarket CPM; and ranks #1 in customer satisfaction and usability in independent industry surveys. With customers and partners in 82 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 a specialized version of Adaptive Planning as the NetSuite Financial Planning module. Adaptive Planning 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.

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