Adaptive Planning, a provider in on-demand financial planning and reporting solutions for companies of all sizes, recently announced 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.

“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.”

To read the full press release, click here.

This BeyeNETWORK news item contains information from a recent press release by the company mentioned.