When software businesses think about accelerating their growth, the first thing that usually springs to mind is customer acquisition. Sure, that’s a big part of growing a company. But an equally important—if not immediately obvious—factor is having a modern finance solution.
That’s because financial planning and analysis for high-growth SaaS companies must go deep—granular, even. This, of course, isn’t a job for spreadsheets. Tech FP&A teams need the ability to quickly assess whether investments and resources are targeted on areas that hold the most potential for higher growth.
Think about it. Simply managing cash can be daunting without a solution that engages business owners in the planning process so everyone’s accountable. And how about coordinating all aspects of your business, from deciding the impact of launching a new product to running what-if scenarios to assess new markets. Good luck with that using 1980s technology.
What’s the answer? SaaS companies need rapid scenario planning and course-correction combined with a best-practice model for accurate topline planning, KPI management, and benchmarks. Then, you have a way to not only better manage high growth, but also remain agile in what often is a rapidly changing industry.
To better understand the impact of technology on software company growth, look no further than Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences, and energy tech companies in North America.
Adaptive Insights customers represent wide range of technology segments
Adaptive Insights customers across a wide range of technology industry segments were included on the list. In addition to being named ourselves for the seventh consecutive year, 66 of the companies in the largest industry segment (software) are Adaptive Insights customers, representing 23% of the software segment. In all, 93 customers on the Fast 500 use the Adaptive Suite to fuel their growth.
These businesses have deployed the Adaptive Suite to gain valuable financial and operational insights so they can grow faster and smarter. Using the Adaptive Suite to measure and forecast corporate performance helps fast-growth companies mitigate risk, take advantage of opportunities, and course-correct as needed to ensure agility and success over the long term.
Hortonworks manages global expansion
Take Hortonworks, for example. The Palo Alto-based company uses Adaptive Planning to do everything from managing employee growth to generating weekly financial forecasts. “We’re a high-growth company and we’re still adding headcount, expanding globally, and handling more types of currencies,” said Dan Bradford, vice president of finance for Hortonworks. “Adaptive is key to keeping up with our growth. If Adaptive fell off the earth, it would be like cutting off my arm.”
Tealium runs what-if scenarios
Another customer on the list is Tealium, whose marketing technology helps customers take control of their data. Tealium uses the Adaptive Suite for all of its budgeting, forecasting, and reporting needs. All business unit owners have access to both Adaptive Planning and Adaptive Discovery. Today, Tealium can run what-if scenarios about its largest possible unknowns.
ServiceTitan implements active planning
Then there’s ServiceTitan, which provides cloud-based business management software to many of the country’s top residential plumbing, electrical, and HVAC service businesses. Facing the enviable challenges of booming sales and hiring across all of its teams, the FP&A team at ServiceTitan struggled with static planning and forecasting processes that were disconnected from data within key business systems—making it difficult to forecast sales, precisely gauge customer acquisition costs, and accurately predict when to bring on new personnel to meet growth expectations.
To overcome this challenge, ServiceTitan implemented the Adaptive Suite. Today, with the ability to create powerful financial models—combined with automated forecasting, reporting, and financial consolidation—ServiceTitan has gained huge benefits from active planning processes that are collaborative, comprehensive, and continuous. Executives can access analytics to identify new insights for smarter decision-making and track business performance daily to ensure that the company continues to successfully serve its growing customer base.
“With active planning, we’re constantly iterating all the drivers in our model,” said Russell Nicholls, vice president of finance. “It becomes smarter and smarter as you feed in actuals down at the driver level, so the level of predictability becomes better and better. It’s one of the biggest benefits that we continually see with Adaptive Insights.”
Congratulations to all
Adaptive Insights is super excited about being named once again to the Tech Fast500 list. But more important: Congratulations to all of our customers on their tremendous success. Your achievements serve as proof that modern, cloud-based software offers real benefits for the world’s most successful companies!
Visit the Customer Success section of our website to see how other customers are using Adaptive Insights to move fast and stay nimble.