Adaptive Planning is kicking off the Fall season with major enhancements to Adaptive Consolidation. Consolidation is the cloud-based solution for comprehensive financial consolidations and analysis. It was added to our CPM & BI software suite in April 2013. Here are the details below. You can also register to view our updated video featuring the new capabilities within Adaptive Consolidation.
Simplifying Financial Complexities
Adaptive Planning Director of Product Management Bob Anderson explained it best in his two-part series on Adaptive Consolidation. The solution was created to simplify the inherent complexity of financial consolidation.
The allocations Manager, intercompany eliminations, multi-currency and other Adaptive Consolidation features are designed to help automate the consolidation process and improve accuracy by minimizing user intervention. As result, finance has more time to devote to financial analysis for improving the bottom line. Now, we’re taking financial consolidation to a new, more collaborative level.
Corporate finance teams have changed since legacy corporate finance tools were developed in the mid
1990’s. They’re much more disparate, geographically, than they were before. The consolidation process has changed as well; requiring more people and communication to get it done efficiently.
But legacy consolidation tools have not changed along the same trajectory.
They don’t include any of the technological innovations of the last decade, i.e. the cloud, social networks, and mobile applications. That’s where Adaptive Planning comes in.
We’ve already brought collaboration tools to the financial planning process.
Now we’re bringing it into financial consolidation and close. In effect, we’re making consolidation a team sport.
Adaptive Consolidation has already earned rave reviews from customers like DayMen, a leading manufacturer and distributor of consumer brands such as Lowepro and Joby.
“Choosing Adaptive has accelerated our financial consolidation close, and eliminated days of work, which has freed up our finance team to focus on more strategic initiatives to further our growth.” – Paul Crawley, CFO, DayMen
Whereas some of today’s collaboration tools leave people unsure about how to best leverage them, we’ve eliminated that uncertainty by pulling Cloud-based collaboration around a specific process. In this case, the close process. This allows people to get involved regardless of their physical location. This latest release will only further accelerate the close process.
Adaptive Consolidation Process Tracker
For example, the new Process Tracker is a robust, flexible, and intuitive workflow solution that will help users to, among other things:
- Define specific variables
- Assign variables to specific users
- Monitor variable status and track their closure
Adaptive Consolidation’s Process Tracker also features a visually intuitive dashboard that looks similar to many social media tools we use today. Its combined ease-of-use, collaborative design, and rich functionality will streamline financial consolidation processes, while allowing more input from people outside of finance.
Check out our product press release for more details about our latest CPM & BI product update. And stay tuned for part two of our series on Adaptive’s latest CPM & BI software release, during which we will discuss the new visual analytics capabilities within Adaptive Discovery.