Adaptive Planning Expands BI, CPM Cloud Services
Cloud-based business analytics services vendor Adaptive Planning is expanding its line of SaaS offerings in the hopes of providing finance organizations and management teams with full cloud-based business intelligence (BI) and corporate performance management (CPM) capabilities.
Launching today, Adaptive Consolidation was developed as an integrated cloud-based service that provides comprehensive close-and-disclose financial consolidations and analysis. According to the company, the new offering will provide customers with even more capabilities to automate budgeting, forecasting, reporting, consolidations and data visualization.
Adaptive Consolidation addresses the management of increasingly complex and changing business ownership structures, the company noted, but the real crux of the offering is taking geographically disperse financial information and general ledger system, and making it easier to manage from a single application.
A recent study of finance professionals conducted by the Business Performance Innovation Network and Adaptive Planning found the challenges for managing multiple geographies and currencies are creating challenges. Of those surveyed, 84 percent said they need to handle business units, two-thirds have multiple geographic entries and more than a third said they have merged and acquired businesses and deal in multiple currencies. Fifty-eight percent noted they would like to improve the accuracy and quality in their month-end consolidation and reporting processes.
John Herr, Adaptive Planning’s CEO, said in a statement that “our customers are increasingly facing complex business scenarios that require the robust consolidation features that our new product offers. Adaptive Consolidation is an ideal product to meet the demands of enterprise and international customers that are dealing with multiple currencies and business divisions.”
Usable as a standalone service or integrated with Adaptive Planning’s other offerings, Adaptive Consolidation was designed to be simple to set up while providing end-users with “intuitive definition rules” automatically applied to the consolidation process.
Some of the features being launched in Adapative Consolidation are also being ported over to the Adaptive Planning service. This includes Allocation Manager, which simplifies the process of reassigning values from one part of an organization to others. Additionally, several usability enhancements have been made that will affect Adaptive Discovery so it’s easier for end-users to create dials to compare versions, as well as a new Table Settings Editor for the configuration of table dials.
The services are available now, but some of the new features won’t be available until June.