New Release Builds Upon Tremendous Adoption of Adaptive Consolidation and
Discovery, with Team Collaboration and Operational Analytics that Drive More
Agile Plans
PALO ALTO, CA, September 9, 2013 Adaptive Planning, the worldwide leader
in cloud-based business analytics solutions for organizations of all sizes,
today announced its Fall 2013 release, including the new Process Tracker
that brings the power of advanced collaboration to the financial
consolidation process. New innovations in Adaptive Discovery integrate
operational insights with financial plan analytics enabling financial
professionals to get a broader view of the overall state and key metrics of
their business. Further innovations bring the ability for business users to
create freeform dashboards, and turn them into presentation-quality reports
simply and easily. These new innovations add to the momentum of Adaptive
Plannings latest products, including more than 200 customers on Adaptive
Discovery in its first year and more than 20 customers choosing Adaptive
Consolidation in its first four months.
Making Financial Consolidation a Team Sport
With Adaptives new functionality, accounting teams can now be more engaged
and effective in collaborating on the complex distributed processes of
financial consolidation through the use of an intuitive, graphical, social
Process Tracker.
The Process Tracker for Adaptive Consolidation is a robust, flexible, and
visually intuitive workflow solution, optimized for both desktop and tablet
form factors, which provides easy ways to define and monitor one-time and
repeating processes. Users can define specific deliverables, assign them to
users, monitor their status, and track their closure. It features social
media-like visual display including avatars of individuals assigned to each
process, rich functionality, simple usability, and ease of management to
allow much more collaborative, streamlined, and accountable consolidation
processes.
Were looking forward to Adaptives new innovations to further drive
collaboration in our consolidation process, said Paul Crawley, CFO at
DayMen, a leading manufacturer and distributor of Lowepro, Joby, and a dozen
other consumer brands that uses Adaptive to consolidate across 11 countries,
22 subsidiaries, and eight currencies. We needed a cloud system that is
accessible 24/7 and provides consistent financial and operational reporting
around the world. Choosing Adaptive has accelerated our financial
consolidation close, and eliminated days of work, which has freed up our
finance team to focus on more strategic initiatives to further our growth.
Adaptive Consolidation was announced in April of 2013, and introduced
powerful new capabilities, coupled with an intuitive user interface, that
make incredibly complex and time-consuming processes easy. Businesses can
close their books accurately, quickly, and painlessly, with intuitive
definition of rules that are automatically applied to the consolidation
process each period. They can automate the import of data that needs to be
consolidated, as well as calculations for intercompany eliminations,
minority interest, allocations, currency exchange and cumulative translation
adjustment.
Financial and Operational Analytics. Unified.
The new release also brings powerful new analytic capabilities to Adaptive
Discovery, the companys visual analytics and business intelligence
solution, and now enables business users to further benefit from its
unification of Adaptives cloud suite with financial and operational
analytics.
Adaptive Discovery has always enabled visualization of customers planning
and consolidation data straight out of the box with no setup required.
Now customers can add to that the visualization of virtually any operational
data and metrics from around the organization, including large volumes of
data. Customers can thereby get a holistic view of the overall company
performance, finance and operational data together.
All of this data can be reflected on the same dashboard, providing decision
makers with a 360-degree view to turn insight into action, with just a few
clicks. With operational insights from sales performance, to marketing
performance, to billing and project performance, and more decision makers
can now quickly compare whats happening in the broader business with
existing financial plan, actuals, forecasts and assumptions, and take
immediate corrective action. The result is truly agile decision making
without having to log into multiple systems or rely on IT.
Adaptive Discovery elevates self-service with a completely new freeform look
and feel to dashboards for customized resizing, moving, and display of
analytics and other dashboard elements to the exact business needs all in
the hands of the business user, with no coding required. And new snapshot
capabilities provide the ability to take dashboards and convert them into
presentation-quality reports, quickly and easily.
NorthStar Financial Services manages over $170 billion in assets, across 9
subsidiaries, so business intelligence is key to driving our business. With
Adaptive Discovery weve already reduced our time to see key metrics by over
70 percent, and more timely insightful data visualization is enabling us to
drive more agile planning, said Andrew Rosenberg, Financial Analyst at
NorthStar Financial Services. The new enhancements in Adaptive Discovery
will enable us to incorporate an even broader range of operational data into
our dashboards and thereby enable us to further drive business performance.
The new release by Adaptive Planning continues the companys innovation in
terms of intuitive ease of use, collaboration, and a social cloud
environment that is transforming the way organizations plan and analyze.
And unlike expensive to run and maintain legacy CPM systems such as Oracle
Hyperion, Adaptives new functionality is delivered automatically and
seamlessly to customers without them having to struggle with costly, risky
and onerous IT-intensive upgrades.
Bringing Innovation to Corporate Performance Management
New innovation in consolidation and analytics capabilities allows us to
continue our exceptional customer momentum, as companies across the globe
harness the power of our integrated, cloud CPM and BI suite to transform
their business performance, said John Herr, CEO of Adaptive Planning. The
traction we are seeing for the latest Adaptive Consolidation and Adaptive
Discovery is a testament to the tremendous demand for better visibility and
transparency with the unparalleled ease of delivery that only the cloud can
provide.
Adaptive Discovery has quickly provided value to users and gives Adaptive
Planning a unique value proposition as a cloud based solution for providing
BI and CPM in a single platform, according to Hyoun Park, Principal Analyst
at Nucleus Research.
The Fall Release builds upon strong product and market momentum for Adaptive
Planning. 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. The company consistently
ranks #1 in customer experience and usability in third party industry
surveys, including BPM Partners and Nucleus Research.
Lets put Adaptive Plannings recent product evolution on a timeline. In
the last year or so, the company has added a material analytics/BI
capability to its core financial planning toolset. It added a very robust
consolidation tool that compares favorably to products that on-premises
vendors took years to build, said Brian Sommer, founder of TechVentive.
Now, the company has added expanded analytics, collaboration capabilities,
new reporting tools and more to the product suite. For a space that some
on-premises vendors have let languish, Adaptive has put energy, products and
speed into the performance management arena.
The Fall Release is available on September 13.
Click to Tweet: @AdaptivePlans Advances Financial Consolidation w/
Innovative Collaboration & Unified Financial&Operational Analytics
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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 companys 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.
