SOURCE: Adaptive Planning

Adaptive Planning

August 26, 2013 08:00 ET

Alliance Health Networks Aligns With Adaptive Planning for Healthier Financial Visibility, Collaboration, and Reporting

Leading Healthcare Social Networking Company Finds and Answer to Traditional Complex and Cumbersome Solutions for Corporate Performance Management

MOUNTAIN VIEW, CA--(Marketwired - Aug 26, 2013) -   Adaptive Planning, the worldwide leader in cloud-based business analytics solutions for companies and nonprofits of all sizes, today announced that Alliance Health Networks, the leading social networking company serving consumers and the healthcare industry, has implemented Adaptive Planning to drive better business performance through mission critical cash flow management, budgeting, and forecasting with greater efficiency, visibility, and accuracy.

Founded in 2006, Alliance Health Networks owns and operates a growing portfolio of condition-specific social networks that today connect over 1.5 million registered patients and caregivers with supportive peers, personalized information, and relevant products and services. As its health networks evolved and expanded, the company's Excel-based planning and reporting grew increasingly complex and cumbersome to manage. 

"We needed a flexible web-based system to efficiently create a clear budget, feed in the forecast, gain insight into cash flow, and simplify financial reporting," said Randi Letendre, Alliance Health Networks VP of Finance. "In the end we needed a solution that provided more time for the finance team to analyze the financial state of the company. Adaptive gave us what we needed and then some."

"For me, budgeting, forecasting, and cash flow are mission critical, no matter the business. Adaptive enables us to make updates and generate new plans that cascade throughout our financial model with the press of button," said Letendre. With Adaptive, Alliance was also able to set up margin reports to evaluate the overall effectiveness of its pricing model in a much more efficient manner. Alliance also leverages Adaptive to generate clearer monthly reports for board members with the following information included:

  • Financial highlights for the month
  • Budget vs. actuals for the month, quarter, and year
  • Cash flow
  • Balance sheet budget vs. actuals
  • Rolling forecast through the end of the year
  • Detailed reporting on revenue by line of business and revenue type

"The time it takes to generate reports has decreased dramatically, and we have more accurate information at our fingertips than ever before," said Letendre. "We've been able to leverage Adaptive Planning to make quicker, data-driven decisions which have paid off in improved profit margins."

As Alliance continues to expand its social healthcare group, Letendre is also expanding use of Adaptive Planning throughout the company, to areas such as HR and Sales.

"We have much clearer visibility into the sales pipeline and better insight into payroll and margins by line of business. Adaptive is the one solution I have found that can do more than I ever thought it could do," Letendre explained. "With the success we have had on the financial planning side, we are eager to see how Adaptive Planning can help us in other areas of our business." 

"We are thrilled to help Alliance Health Networks improve the company's operational efficiency by providing a pain free solution that enables visibility, collaboration and reporting in a more complete and easy-to-use way," said Greg Schneider, Vice President of Marketing at Adaptive Planning. "We are excited about Alliance's expanded use of our solution into areas such as HR and sales for improved planning, forecasting, and reporting."

Click to Tweet: @Alliance_Health picks @AdaptivePlans for Healthier Financial Visibility, Collaboration & Reporting #CFO #Budgeting http://bit.ly/19MERkp

About Alliance Health Networks:
Alliance Health Networks is building a free and independent social engagement platform that gives people the power to navigate their personal health journey. The company owns and operates more than 50 social networks and 20 mobile versions serving over 1.5 million registered members. Alliance Health leverages social networks to help consumers more actively manage their care through personal connections, powerful tools, and deeper insights. The company's investors include New World Ventures, Physic Ventures, Highway 12 Ventures, and EPIC Ventures. For more information, visit: www.alliancehealthnetworks.com

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 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 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 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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