NetSuite + Adaptive Insights Makes Planning Easy for HireVue

When it comes to financial planning and forecasting, however, HireVue has undergone a transformation of its own. Before enhancing NetSuite with Adaptive Insights, HireVue developed plans just once a year, and sales growth forecasts amounted to a series of educated guesses. “While they weren’t wild guesses, they certainly weren’t as tight as we would have liked,” said Thom Keyes, director of FP&A at HireVue. “We knew we had to make some changes.”

HireVue knows a thing or two about the importance of getting an accurate picture of the future. The company’s software uses digital video interviews and predictive analytics to transform how companies make hires and build effective teams.

When it comes to financial planning and forecasting, however, HireVue has undergone a transformation of its own. Before enhancing NetSuite with Adaptive Insights, HireVue developed plans just once a year, and sales growth forecasts amounted to a series of educated guesses. “While they weren’t wild guesses, they certainly weren’t as tight as we would have liked,” said Thom Keyes, director of FP&A at HireVue. “We knew we had to make some changes.”

Keyes and his team deployed Adaptive Insights to create a detailed bottom-up sales planning model based on the performance metrics of each sales rep. Plans now are grounded in reality thanks to its use of actuals from NetSuite, the result of a tight integration that allows HireVue’s FP&A team to instantly drill through to a NetSuite transaction record directly from Adaptive Insights.

Happy NetSuite customers

Today, HireVue is one of the many happy customers who have used Adaptive Insights to extend the power of NetSuite for a comprehensive financial management solution that allows FP&A teams to spend less time collecting, validating, and formatting data, and more time on strategy and true financial analysis.

Indeed, the combination has worked wonders for HireVue. Forecast variances have plummeted from 20% to 2%, and the company’s driver-based sales planning model now weighs traditional drivers like quota attainment and sales ramping level along with variables like seasonality and customer size targets.

The result is a fluid yet logical approach to anticipating sales growth, with plans forecasting upticks in revenue during times of the year when analyses show new customer acquisitions are strongest, and different expectations for reps selling to large versus midsize customers.

Armed with a more accurate picture of the future, finance and sales teams can also perform scenario analysis to determine, say, when and where to grow the sales team or how each new hire will impact top-line revenues and bottom-line earnings. According to Keyes, Adaptive Insights makes scenario analysis “a piece of cake.”

Since rolling out Adaptive Insights, HireVue’s FP&A team has seen a healthy improvement in another crucial metric, though it’s one that can be tough to measure in numbers. “The executive team is leaning on us more and more,” said Keyes, “and my team and I are an integral part of this forward view of the business.”

Visit Adaptive Insights at SuiteWorld in Las Vegas, NV, from April 23-26, 2018.

Share this: