Five Ways FP&A is Fueling the Finance Revolution

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On this day—May 10—way back in 1773, the British Parliament passed the Tea Act, which taxed all tea in the U.S. colonies and ultimately sparked the American Revolution.

At Adaptive Insights, we can relate. We like to think that we are playing a key role in another, modern-day, global revolution—the Finance Revolution that is transforming the way financial planning & analysis (FP&A) and its partners do business. Adaptive Insights users are increasingly shifting from back-office tactical support roles to essential strategic partners, positioning organizations to be more nimble, competitive, and successful. Simply put, there’s never been a better time to be in finance.

While we provide the tools, technology, and ongoing support in this insurgency, it is really our customers who are on the front lines of this dramatic movement toward operating more strategically, and with greater efficiency and accuracy.

These customers often share their victories, both big and small. We heard a lot of great feedback recently at our annual Adaptive Live user conference and also receive a continuous stream of insight and suggestions from online reviews. In hopes of furthering the momentum of this revolution, here are five ways that our customers say they are reaping benefits from Adaptive Insights.

Keeping things rolling: The once-a-year budget isn’t realistic with the pace of change in business these days. Rolling forecasts provide much better insight into the business and offer the opportunity to adapt quickly to changing market conditions. “Adaptive Insights has been the backbone of our organization’s transition to quarterly rolling forecasts,” writes one customer. “I started with less than five active users and two years later we now have 70-plus users imputing budgets and taking responsibility for their forecasts.”

Peer into the future: At Adaptive Live, many users talked about the benefits of using Adaptive Insights to develop a range of “what-if” scenarios. One user said that her organization now routinely forecasts two years out, including assessing the impact of a potential recession. Others take an even longer view, with one reviewer stating his organization, “is using Adaptive to plan our 10-year forecast. It’s a step up from the old budget software we were using and the cloud features are really extraordinary.”

Numbers without borders: At organizations using Adaptive Insights, it’s no longer just the finance team that has access to key information, data, and insights. Designated users from throughout the organization can access Adaptive in real time, creating “self-serve” capabilities as well as greater collaboration and consensus. “This year we have rolled out Adaptive Suite to 80-plus users,” writes another reviewer. “It’s used by finance, sales, operations, and the executive team for planning and reporting … Managers are seeing real-time data sooner, and we’re able to do a lot more analysis with our data than we ever have before. Adaptive Suite is giving more visibility to the organization to see how all components impact each other.”

The truth sets you free: Adaptive Insights users love that they can finally settle on a single source of truth. As one user shared, “No longer do I hear ‘those are finance’s numbers.’” Yet that source of truth also emerges from Adaptive Insights’ version control capabilities that assure that the numbers being viewed are the right ones, every time. “Another important distinction of Adaptive is version control,” writes a reviewer. “You don’t have to be concerned that someone is looking at the wrong version of ‘the truth’ when using Adaptive Suite.”

Fringe benefits abound: There are benefits to Adaptive Insights solutions beyond those that are immediately obvious from a finance and planning perspective. For instance, one reviewer notes that communication with executive leadership has shifted to a more strategic tone since implementing Adaptive Insights. “The suite of products has completely changed the way we inform our leadership of the state of our operations each month.” Another user highlighted how Adaptive Insights engages the finance team in deeper ways—and can be a tool for retaining and attracting talent: “I will seek out companies using or considering Adaptive whenever I make my next career move,” he writes.

Want to learn how a best-practice, active planning process can help you drive business success? An active planning process is collaborative, comprehensive, and continuous—one that results in a better business plan. Better budgeting and forecasting. You’ll get greater visibility into business performance, build confidence in the numbers, make data-driven decisions, and increase buy-in and accountability throughout the organization. Learn more here.

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