Adaptive Planning Surpasses 1,000 Active Customers and Posts Record Results for First Half of 2011
28/07/11 Filed in:Adaptive
MOUNTAIN VIEW, CA—July 28, 2011—Adaptive Planning, the worldwide leader in on-demand corporate performance management (CPM) solutions for companies and nonprofits of all sizes, today announced that it had achieved a major corporate milestone, surpassing 1,000 active customers. This achievement comes as the company posted record financial results for the first half of 2011, a period in which it also introduced breakthrough new product releases and gathered industry awards and recognition.
With these accomplishments, Adaptive Planning continues to set the standard as the leader in on-demand corporate performance management, with the most customers, most users, most partners, most awards, and highest customer satisfaction of any company in its segment.
In the first half of 2011, Adaptive Planning grew total bookings by 50 percent year over year. Additionally, the company grew its overall client base to over 1,000 customers.
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, financial services and insurance, healthcare, manufacturing, nonprofit, retail and wholesale, and software sectors.
New customers in 2011 include American Academy of Pediatrics, Arizona State Credit Union, Association for Financial Professionals (AFP), Bridgestone Industrial Products America Inc., Capital District Physicians’ Health Plan, CARE USA, Carle Foundation, DHL Global Forwarding, IntegraMed America, McCormick & Schmick’s Seafood Restaurants, Navis LLC, NorthStar Financial Services Group LLC, Santen Pharmaceutical, Standard Motor Products, and State Auto Insurance Companies.
New Channel Growth
In 2011, Adaptive Planning’s network of over 200 global channel partners continues to play a major role in the company’s new sales, influencing over 40 percent of new contracts and augmenting its professional services and support teams. The company’s strategic partnership with NetSuite has proven to be a highly successful and synergistic channel, as the companies now share more than 100 joint customers.
Powerful New Features and New Solutions
In April 2011, Adaptive Planning introduced its Spring 2011 Release, a major product release that supports complex, multi-organization planning and reporting requirements, increases options for integrating with other cloud-based systems, enables “white label” distribution by channel partners, and delivers numerous enhancements designed for both end-users and administrators. The new release takes full advantage of the revolutionary software as a service (SaaS) model to introduce a breakthrough new multi-instance capability that allows organizations ranging from midsized companies and nonprofits to large corporate enterprises to streamline and enhance complex, multi-division planning and reporting processes.
Alongside the Spring 2011 release, the company introduced two major new solutions in its applications portfolio, Sales Planning & Analysis and Multi-Entity Planning & Analysis. The solutions leverage the powerful new multi-instance capability available in the Spring 2011 Release and make it even easier for new types of users – corporate sales teams and complex corporations with multiple entities – to completely transform the way they plan and manage their businesses.
The Sales Planning & Analysis Solution allows sales and management teams to streamline and enhance revenue forecasting and sales expense planning, dramatically improve pipeline and sales analysis, and seamlessly integrate sales and financial plans. As a result, the solution helps companies of all sizes drive more accurate forecasts with more predictable revenues, increase overall revenues, improve sales and marketing productivity, and strengthen organizational alignment around top-line performance. The Multi-Entity Planning & Analysis Solution is ideal for larger companies that need to coordinate planning, reporting, and analysis among a complex set of organizational entities such as different geographic divisions, autonomous business units, or multiple operating companies.
Awards and Recognition
In the first half of 2011, Adaptive Planning received multiple industry awards and accolades based on product innovation, corporate momentum, and customer satisfaction. Adaptive Planning was honored as an OnDemand Top 100 winner by AlwaysOn, a Top 40 Vendor to Watch by Information Management, a “Hot Technology” winner by Network Products Guide, and a “Core Vendor” by analyst firm BPM Partners. Additionally, Adaptive Planning ranked #1 in customer satisfaction in BPM Partners’ 2011 survey of performance management customers, echoing the #1 in customer satisfaction ranking it received from Gartner.
About Adaptive Planning
Adaptive Planning is the worldwide leader in on-demand corporate performance management (CPM) solutions for companies and nonprofits of all sizes. Adaptive Planning’s solutions allow finance and management teams to obtain real-time visibility into performance metrics, streamline financial planning and reporting, and drive better business decisions. By offering affordable annual subscriptions and rapid implementations, and by eliminating the need for new hardware and IT support, Adaptive Planning makes it easy to move beyond spreadsheet-based processes without the cost and complexity associated with traditional on-premise CPM applications. Adaptive Planning is headquartered in Mountain View, Calif. and can be reached at 650-528-7500 or www.adaptiveplanning.com.
In the first half of 2011, Adaptive Planning grew total bookings by 50 percent year over year. Additionally, the company grew its overall client base to over 1,000 customers.
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, financial services and insurance, healthcare, manufacturing, nonprofit, retail and wholesale, and software sectors.
New customers in 2011 include American Academy of Pediatrics, Arizona State Credit Union, Association for Financial Professionals (AFP), Bridgestone Industrial Products America Inc., Capital District Physicians’ Health Plan, CARE USA, Carle Foundation, DHL Global Forwarding, IntegraMed America, McCormick & Schmick’s Seafood Restaurants, Navis LLC, NorthStar Financial Services Group LLC, Santen Pharmaceutical, Standard Motor Products, and State Auto Insurance Companies.
New Channel Growth
In 2011, Adaptive Planning’s network of over 200 global channel partners continues to play a major role in the company’s new sales, influencing over 40 percent of new contracts and augmenting its professional services and support teams. The company’s strategic partnership with NetSuite has proven to be a highly successful and synergistic channel, as the companies now share more than 100 joint customers.
Powerful New Features and New Solutions
In April 2011, Adaptive Planning introduced its Spring 2011 Release, a major product release that supports complex, multi-organization planning and reporting requirements, increases options for integrating with other cloud-based systems, enables “white label” distribution by channel partners, and delivers numerous enhancements designed for both end-users and administrators. The new release takes full advantage of the revolutionary software as a service (SaaS) model to introduce a breakthrough new multi-instance capability that allows organizations ranging from midsized companies and nonprofits to large corporate enterprises to streamline and enhance complex, multi-division planning and reporting processes.
Alongside the Spring 2011 release, the company introduced two major new solutions in its applications portfolio, Sales Planning & Analysis and Multi-Entity Planning & Analysis. The solutions leverage the powerful new multi-instance capability available in the Spring 2011 Release and make it even easier for new types of users – corporate sales teams and complex corporations with multiple entities – to completely transform the way they plan and manage their businesses.
The Sales Planning & Analysis Solution allows sales and management teams to streamline and enhance revenue forecasting and sales expense planning, dramatically improve pipeline and sales analysis, and seamlessly integrate sales and financial plans. As a result, the solution helps companies of all sizes drive more accurate forecasts with more predictable revenues, increase overall revenues, improve sales and marketing productivity, and strengthen organizational alignment around top-line performance. The Multi-Entity Planning & Analysis Solution is ideal for larger companies that need to coordinate planning, reporting, and analysis among a complex set of organizational entities such as different geographic divisions, autonomous business units, or multiple operating companies.
Awards and Recognition
In the first half of 2011, Adaptive Planning received multiple industry awards and accolades based on product innovation, corporate momentum, and customer satisfaction. Adaptive Planning was honored as an OnDemand Top 100 winner by AlwaysOn, a Top 40 Vendor to Watch by Information Management, a “Hot Technology” winner by Network Products Guide, and a “Core Vendor” by analyst firm BPM Partners. Additionally, Adaptive Planning ranked #1 in customer satisfaction in BPM Partners’ 2011 survey of performance management customers, echoing the #1 in customer satisfaction ranking it received from Gartner.
About Adaptive Planning
Adaptive Planning is the worldwide leader in on-demand corporate performance management (CPM) solutions for companies and nonprofits of all sizes. Adaptive Planning’s solutions allow finance and management teams to obtain real-time visibility into performance metrics, streamline financial planning and reporting, and drive better business decisions. By offering affordable annual subscriptions and rapid implementations, and by eliminating the need for new hardware and IT support, Adaptive Planning makes it easy to move beyond spreadsheet-based processes without the cost and complexity associated with traditional on-premise CPM applications. Adaptive Planning is headquartered in Mountain View, Calif. and can be reached at 650-528-7500 or www.adaptiveplanning.com.