Adaptive Planning announced that 2010 was the strongest year in the company’s history. Adaptive Planning posted record bookings and revenue, significantly grew its customer base, successfully broadened and deepened distribution partnerships, introduced new product releases, and garnered substantial industry recognition. In 2010, Adaptive Planning grew bookings and revenue by over 50 percent, while increasing its overall customer base to over 900 clients.
The company’s new customers included companies of all sizes, from numerous industries. Particularly strong growth came from midsize companies and corporations in the business services, healthcare, insurance, manufacturing, retail and wholesale, software, and travel and transportation sectors.
New customers in 2010 include Access Community Health Network, Baxter Credit Union, Cincinnati Financial Corporation, Conservation Services Group, Craegmoor Group, DHL Global Forwarding, Hawai‘i Pacific University, Housing NSW, Hoya Lens, Ingram Marine, Konica Minolta Business Technology, McKinstry, Metro Health, Northwestern Mutual, Otsego Memorial Hospital, Porex Corporation, Qatargas, Star Gas Partners, Support.com, Varicent, and Vehicle Testing New Zealand.
In 2010, Adaptive Planning’s network of over 200 worldwide partners played an increasing role in the company’s overall business, influencing over 40 percent of new contracts and augmenting its professional services and support teams.
Of particular note, in 2010 Adaptive Planning established an agreement with ITOCHU, a Fortune Global 500 trading company based in Tokyo, to resell Adaptive Planning solutions in Japan.
This strong overall momentum results from investments Adaptive Planning has made, and is continuing to make, in creating a highly-attractive global partner program — a program that enables the company to rapidly expand its domestic and international presence by providing a growing team of partners with significant support and business benefits.
In September 2010, the company introduced Adaptive Planning 7.0, a major product release that delivered new capabilities for reporting, application management, and data integration. New features included report parameters, report segments, and time intelligence; refinements in the formula builder and administration interface; and new web services APIs for importing and exporting data. Taken together, these features significantly enhance the overall value of the Adaptive Planning solution, providing additional capabilities that enable finance and management teams to move beyond spreadsheet-based planning and reporting, so that they can manage their businesses with greater agility and discipline.
Awards and Recognition
In 2010, Adaptive Planning received multiple prestigious awards based on product innovation, corporate momentum, and customer satisfaction. Adaptive Planning was named an Always On Global 250 and a Red Herring Global 100 award winner, as well as one of the year’s leading business intelligence “Companies to Watch” by Intelligent Enterprise Magazine. Additionally, Adaptive Planning’s 6.5 solution was honored with the top new business intelligence product by Accounting Today.
The company also garnered recognition for its industry-leading customer satisfaction. In a recent report from a top industry analyst firm, Adaptive Planning ranked #1 among corporate performance management (CPM) vendors in overall customer satisfaction, satisfaction with implementations, ease of implementations, and ease of use. And in January 2011, Adaptive Planning ranked #1 in customer satisfaction in the annual industry survey conducted by analyst firm BPM Partners, which also named Adaptive Planning a “Core Vendor” for the fourth consecutive year.
The Software as a Service Advantage
Current economic conditions highlight the need for, and exceptional value of, Adaptive Planning’s software as a service solution. In a Q4 2010 survey of hundreds of finance professionals conducted by the BPI Network and Adaptive Planning, a majority of respondents expressed a positive outlook for the economy for the first time since the survey began in 2008. However, over 40 percent reported high levels of economic uncertainty, and the amount of re-planning, re-forecasting, and what-if analysis was at an all-time high. Respondents also revealed that their top challenges for 2011 include managing performance against key metrics, revenue planning/forecasting, expense planning/forecasting, streamlining processes, and improving business decisions.
In this economic environment, and with those top finance challenges, Adaptive Planning is an ideal solution. By transforming planning, reporting, and what-if analysis with Adaptive Planning’s powerful yet easy-to-use application, finance and executive teams can capitalize on new growth opportunities while maintaining tight control of expenses. And the software as a service (SaaS) model presents significant advantages over on-premise alternatives, including lower total cost of ownership (TCO), faster deployments, lower risk, and increased flexibility.
In May, the analyst firm Hurwitz Group validated the total cost of ownership advantages of Adaptive Planning’s SaaS model over traditional on-premise software, finding that the four-year TCO of Adaptive Planning is as much as 77 percent lower than that of comparable mid-market BPM solutions.