Adaptive Planning Reports Record First Half 2010 Results

MOUNTAIN VIEW, CA — July 22, 2010 — Adaptive Planning, the worldwide leader in on-demand financial planning and reporting solutions for companies of all sizes, today announced record results for the first half of 2010. The company continued to grow extremely rapidly, increasing bookings by 56 percent over 2009 and expanding its active customer base to over 750 clients.
With these record results, Adaptive Planning continues to set the standard for on-demand budgeting, forecasting, and reporting, with the most customers (750+), most partners (200+), most awards (15 in 2009 and 2010), and highest customer satisfaction.
New Adaptive Planning clients in the first half of 2010 varied from small businesses to multi-billion dollar corporations, and included companies from numerous industries, such as business services, energy and utilities, healthcare, manufacturing, nonprofit, and software sectors, among others.
New customers included Actividentity, American Licorice, Bristlecone, DHL Global Forwarding, The Dwyer Group, Hoya Lens, New South Wales Land and Housing, Otsego Memorial Hospital, Porex Corporation, Qatargas, SAIT Polytechnic, Star Gas Partners,, Tang Industries, Total Longterm Care, and Vehicle Testing New Zealand.
Superior Planning and Analysis Essential in Current Economy
A key contributor to Adaptive Planning’s rapid growth is the exceptional value its solutions provide in a challenging economic environment. According to a Q2 2010 survey of finance professionals conducted by the Business Performance Innovation Network and Adaptive Planning, 60 percent of respondents describe economic uncertainty as high or very high, and as a result, 56 percent expect to do more re-planning and what-if analysis going forward. Similarly, the survey found that the top challenge for finance organizations is improving planning, reporting, and analysis.
In this environment, Adaptive Planning’s affordable, quick to implement, and easy to use planning and reporting solution is an ideal option. It fits companies’ budget realities and goes live quickly – requiring just 12 days of consulting time on average – which allows teams to have an immediate impact on managing their businesses.
The Software as a Service Advantage
One of Adaptive Planning’s key advantages over traditional software is its software as a service (SaaS) model, which delivers low costs, quick implementations, intuitive ease of use, rapid innovation, and automatic upgrades – without requiring IT investment or support.
In May, the analyst firm Hurwitz Group validated the total cost of ownership (TCO) 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 corporate performance management (CPM) solutions. The study also noted that the SaaS model delivers benefits beyond TCO savings, through decreased risk, faster deployment and productivity, increased flexibility, higher customer satisfaction, and improved reliability and performance.
Awards and Recognition
In the first half of 2010, Adaptive Planning received multiple prestigious industry awards and recognition for product innovation and overall company growth and momentum. The company won a Red Herring Global 100 award, which honors the leading private companies in North America, Europe and Asia, and was named one of the year’s leading business intelligence “Companies to Watch” by Intelligent Enterprise magazine as part of its 2010 Editors Choice Awards. Additionally, the Adaptive Planning 6.5 solution was named the top new business intelligence product by Accounting Today as part of the publication’s “2010 Top New Products.” And for the third year in a row, the company was the only software as a service (SaaS) provider to be named a Core Vendor by BPM Partners, a leading authority on business performance management solutions.
Additionally, in July Adaptive Planning was selected by AlwaysOn as an AlwaysOn Global 250 winner. The company was the only corporate performance management vendor to receive this prestigious award, which is based on game-changing technologies and leadership across five criteria: innovation, market potential, commercialization, stakeholder value, and media buzz.