Adaptive Planning customers affirm on-demand planning and reporting is an essential requirement for current economy
MOUNTAIN VIEW, CA — September 16, 2009 — Adaptive Planning, the worldwide leader in on-demand financial planning and reporting solutions for companies of all sizes, announced today that in-depth conversations with a sample of the company's hundreds of new customers revealed that increased needs for re-planning and what-if analysis, coupled with the affordable total cost of ownership delivered by the Adaptive Planning solution, are among the key drivers for the company's rapid customer adoption. Since July 1, 2008, in one of the most challenging economic periods in history, Adaptive Planning has more than doubled its customer base, adding over 350 customers and now counting over 560 companies as clients.
Commentary from customers that signed up with Adaptive Planning in 2009 highlights the increased importance of planning during uncertain economic times. When asked why they moved to an automated planning and reporting solution, common responses included:
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.”
“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 financial agility, strengthen collaboration, and drive better-informed, more strategic business decisions in companies of all sizes. Adaptive Planning makes it easy to move beyond spreadsheets and automate budgeting, forecasting, and reporting, 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 provides the fastest and easiest approach to streamline and elevate your financial management. Adaptive Planning is headquartered in Mountain View, Calif. and can be reached at 650-528-7500 or www.adaptiveplanning.com.
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