Adaptive Planning announced that SourceForge has implemented its software to automate their financial planning and reporting. A leading online portal for the IT professional, software development, and open source communities, SourceForge has deployed Adaptive Planning and integrated it with their Oracle Financials system in order to accelerate their budgeting and forecasting processes and simplify reporting on both actual and plan information.
Within a five year span that began in 2002, SourceForge has transformed itself from a hardware company to the global technology communityâ€™s hub for information exchange, goods for geeks, and open source software distribution and services. The companyâ€™s network of web sites serves more than 32 million unique visitors each month and includes SourceForge.net, Slashdot.org, ThinkGeek.com, Linux.com, and ITManagersJournal.
â€œSourceForge and our network of sites bring the global technology community together, but internally we found that certain financial processes were still very manual,â€ said Jeffrey Chalmers, corporate controller, SourceForge. â€œSince standardizing on Adaptive Planning, weâ€™ve been able to streamline our budgeting and forecasting processes. By integrating Adaptive Planning with our general ledger system, Oracle Financials, we have made it easier for business users throughout the company to receive more accurate information on a more timely basis, and to better analyze both historical and forward-looking information.â€
Prior to implementing Adaptive Planning, SourceForgeâ€™s financial planning system revolved around 17 interconnected Excel spreadsheets. The process of reporting to department heads involved another eight spreadsheets.
â€œDepartment heads had little say in the planning process because they lacked visibility into the information,â€ said Chalmers. â€œThe situation came to a head when we were faced with presenting our annual plan to our board of directors. With our deadline fast approaching, we knew we needed a more efficient and reliable system.â€
After implementing Adaptive Planning, the SourceForge team was able to create an annual plan, review it with senior management, and revise it in a brief two-day period. As a result of the applicationâ€™s intuitive, spreadsheet-like interface and browser-based access, business unit owners and department heads from across the company were able to login and begin collaborating on the planning process.
Using Adaptive Planning, the company now revises its forecasts on a monthly basis, enabling key stakeholders to work with the most current actual and plan information in a single, easily-accessible online application.
â€œPeople who had never participated in the planning process are now creating their own budgets and managing monthly forecasts, which increases their financial accountability and gives department heads greater visibility for better decision-making,â€ added Chalmers.
SourceForge chose to deploy Adaptive Planningâ€™s on-demand, software as a service option, allowing them to implement the solution quickly and easily, without placing any burden on IT resources. Another benefit of the on-demand model is that they receive automatic upgrades to new versions of the application, such as the recently-released Adaptive Planning 4.0.
SourceForge has integrated Adaptive Planning with their Oracle Financials system, enabling the company to more easily create reports and perform analyses that compare actuals to plan or forecast data. This integration will also help streamline month-end closing and SEC reporting.
â€œAutomating our integration with Oracle eliminates manual uploading and report generation tasks during the month-end close process, when time is very valuable,â€ added Chalmers. â€œWith Adaptive Planningâ€™s latest 4.0 release, our department managers now have an extremely easy-to-use drag and drop reporting tool that incorporates actual data, allowing them to view their performance against plans and up-to-the-month forecasts.â€