SOURCE: Adaptive Planning

March 08, 2010 08:00 ET

HOYA Lens Australia Sharpens Financial Vision With Adaptive Planning

HOYA Lens Australia Deploys Adaptive Planning to Automate Budgeting, Forecasting and Reporting

MOUNTAIN VIEW, CA--(Marketwire - March 8, 2010) -   Adaptive Planning, the worldwide leader in on-demand financial planning and reporting solutions for companies of all sizes, and ABM Systems, a leading enterprise performance management consulting firm, announced today that HOYA Lens Australia, a leader in lens manufacturing, has deployed Adaptive Planning to optimize their budgeting, forecasting and reporting processes. 

Established in 1941 as Japan's first manufacturer of optical glass, HOYA Lens has diversified globally into several business areas including electronics, optics, photonics, crystal and vision care, with establishments throughout Europe, America, Asia and Australia. Amidst a global recession, HOYA Lens Australia initiated an evaluation of their existing business and financial processes designed to identify areas for increasing efficiency and reducing costs. One clear opportunity was to automate their budgeting and forecasting processes, which would reduce budget cycle times and provide greater visibility into the key financial performance metrics necessary for managing their rapid growth.

The budgeting and forecasting process was originally driven within the finance department and constrained by the limits of spreadsheets. HOYA Lens Australia wanted a system which would alleviate the frustrations of Excel and engage stakeholders throughout the region. The company's previous spreadsheet-based processes took too long, were incomplete at times and resulted in significant consolidation and version control challenges. HOYA wanted a system which would give stakeholders input, be flexible, easy to use, secure, and deliver dependable results -- and which would be low cost, quick to implement and include payroll.

While analyzing budgeting and forecasting tools, Brad Weatherstone, CFO at HOYA Lens Australia, quickly saw how flexible and easy Adaptive Planning was to implement and use. He was impressed with the payroll function, the infrastructure and particularly the quick implementation. The cost/benefit analysis and the value Adaptive Planning delivers made it the stand out choice. "Even if Adaptive Planning only did 50 percent of what it can actually do, it would have stood out," remarked Weatherstone. "Now instead of spending time chasing down information, we can focus on value added activities, such as conducting analysis and making better, more informed decisions," stated Weatherstone. 

Adaptive Planning's award-winning financial planning and reporting solution represents an alternative to both manual, Excel-based processes and costly, complex enterprise software. Offered as a software-as-a-service (SaaS) model, the solution is particularly attractive in the current economic climate, starting at just $600 per user annually with no additional hardware or software required.

"Our Australian clients continue to recognize the immense value that Adaptive Planning provides," said Greg Clarke, President of ABM Systems. "The SaaS model of delivery allows our customers to quickly and easily deploy the solution and begin to more efficiently budget, plan and forecast."

"Current economic conditions are driving an increased need for timely re-planning, re-forecasting, and 'what-if' scenarios," said William A. Soward, CEO of Adaptive Planning. "We are pleased to be able to help companies of all sizes, worldwide, make better business decisions and execute with discipline as they manage through the downturn and recovery."

Adaptive Planning works with over 200 partners worldwide. This partner network is comprised of best-in-class solution providers in four key categories -- Value Added Reseller, Referral Advisory, Technology Platform and Strategic Solution Provider -- who resell, refer, or provide strategic consulting to finance organizations.

About HOYA Lens Australia

HOYA Lens Australia makes and supplies ophthalmic lenses to Opticians located within Australia and New Zealand. HOYA supplies a range of high quality products, including both plastic and glass lenses. We manufacture a wide range of lenses in single vision, bifocal and progressive designs, all of which are available in different materials and with different coatings and finishes, catering for a wide variety of budgets and lifestyles as well as cosmetic and comfort requirements.

About ABM Systems

ABM Systems provides companies with better business management and performance by delivering insight into the underlying processes, activities and drivers of business results and offering immediate actions to improve them. ABM Systems' solutions integrate concepts including Enterprise Performance Management, Balanced Scorecard, Driver Based Planning, Output Budgeting, Rolling Forecasting, Activity Based Costing, Process Management, Financial Consolidation, Risk Management, Reporting, and Business Intelligence. Founded in 1997, ABM Systems now has offices in Sydney, Melbourne, Brisbane and Wellington and has alliances with leading global solution providers to empower managers to achieve their best.

About Adaptive Planning

Adaptive Planning is the leader in on-demand budgeting, forecasting, and reporting solutions that streamline financial management, improve collaboration, and drive better business decisions in companies of all sizes. By offering affordable annual subscriptions and rapid implementations, and by eliminating the need for new hardware or IT support, Adaptive Planning makes it easy to move beyond spreadsheet-based processes without the cost and complexity associated with traditional business intelligence (BI) and business performance management (BPM) applications. Available both on-demand and on-premise, Adaptive Planning allows finance leaders and management teams to make better-informed decisions, execute with agility and discipline, and ultimately improve competitiveness. 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
    Email Contact

    Greg Schneider
    Adaptive Planning
    650.810.0525
    Email Contact