Recognizes achievement in gaining widespread engagement of business stakeholders and senior executives in the planning process
Private liberal arts college—Lewisburg, PA
Find a software application to allow deans and managers to view and report on budgets holistically, reduce data integrity issues among managers, and align operational plans with the strategic plans of the university.
Adding Adaptive Insights to their Workday solution made it possible for over 150 users—ranging from academic assistants to deans to vice presidents to the president of the university—to collaborate more effectively. Using real-time budgeting and self-service reporting, the university’s deans can now make strategic planning decisions more readily and look to finance as a value-added partner in this process.
Deans and finance teams together evaluate the what-if scenarios of the future: What were we doing 15 years ago to serve our students that doesn’t make sense anymore? What must we implement to allow the students to thrive and to foster diversity and a creative learning environment? How much will all this cost? Allowing this look into the future with a solid plan has been a game changer at Bucknell.
Category: Functional Planning
Recognizes achievement in optimizing planning and performance management in functions such as operations, services, sales, marketing, workforce, and IT
Provider of construction management, design build, general contracting, and preconstruction services—Roanoke, VA
Simplify and streamline reporting between subsidiaries and the leadership of each (including controller, president, and operations vice president/director). Given the diverse nature of the subsidiaries, collaboration is key, and the combination of operational modeling details that drive financial modeling made it difficult for users to engage across the organization.
Using Adaptive Insights New Orders and Work-In-Progress cube models, each subsidiary can now collaborate and report to other groups at a project level with geographic, product, and subsidiary dimensionality. For example, sales and operational managers collaborate frequently on the sales funnel and forecast new sales. These models drive operational data through to revenue and gross margins for the business and are combined with detailed personnel modeling, capex modeling, and overhead costs to derive complete financial statements including cash flow.
With the improved efficiency gained through use of Adaptive Insights, the company is now driving multiple 24-month forecasting cycles throughout the year. Operational and financial KPIs are reported to managers using Discovery dashboards. Operational decision-makers now have better planning, reporting, and analytical insights, and finance has become a more strategic partner to these managers.
Category: Dashboards and Analytics
Recognizes achievement in creating a data-driven decision-making culture based on self-service reporting and visual insights for business stakeholders
Provider of home- and community-based case management for people who are disabled and developmentally delayed—Cincinnati, OH
Like many Adaptive Insights users, the CareStar finance team lived in a spreadsheet nightmare of slow and cumbersome workbooks, sheets, and formulas that were driven by the executive team. This in turn created a siloed, top-down planning process that didn’t always engage managers.
CareStar adopted Adaptive Insights to automate and simplify budgeting and reporting processes. It converted all its financial statements and many operational metrics to Adaptive Insights reports and dashboards. Financial reporting now enables all managers to drill down into transactional details, something not previously possible. Operational data from multiple source systems is integrated into Adaptive Insights to create a holistic operational view and includes diverse operational details such as mileage, assessments completed, patient census, time reporting, caseloads, IT call center metrics, and software development productivity.
With all this data available to managers and the ability to collaborate more readily, what used to be a top-down planning process is now a bottoms-up process that involves all the managers and directors. CareStar’s planning engagement has greatly improved, and its knowledge of the financial impact of operational decisions has also improved thanks to the addition of specialized dashboards and analytics.
Recognizes achievement in creating a highly accurate, efficient forecasting process, reducing uncertainty in times of rapid change
Canadian national telecommunications company—Vancouver, B.C.
A potential disruption of the rolling forecast process for a crucial multi-billion dollar project. The project size increased the need for accuracy and transparency, with a financial planning team that was heavily dependent on individual knowledge and multiple Excel spreadsheets, which often took up to a full week to consolidate data in response to a request. The potential for inaccuracy or errors potentially jeopardized the program’s credibility in front of the board.
With Adaptive Insights, the team is now able to quickly answer the senior executive team’s questions and drive operational and strategic decisions. The team’s level of accuracy increased significantly to less than 0.5% variance per year, which for a multi-million dollar annual budget is an amazing level of accuracy.
Category: Business Impact
Recognizes achievement in improving operational efficiency, increasing sales and production results, and an overall positive business impact
A corporation that helps manufacturers and automation solution providers engineer linear and rotary motion products—Pittsburg, CA
Reporting and analysis was costly, with key finance team members spending 40-50% of their time collecting, validating, and formatting data versus analyzing and providing actionable insights.
Bishop-Wisecarver adopted Adaptive Insights because it was easy, powerful, and fast and enabled nonfinance, non-tech users to achieve self-service reporting and analytics, which improved productivity. With Adaptive Insights, Bishop-Wisecarver estimates that they have reduced a total of 600 hours in the accounting and finance department alone. They’ve gained a deeper understanding of business performance, resulting in significant operational improvements including the manufacturing shop floor in the assembly increased efficiency by about 30% and improving returns by 60%, sales improving its quote-to-close ratio by 10% year over year, and accounting reducing its month-end close cycle by 10 business days to a mere three days total.
Category: Outstanding Business Planning
Recognizes the team that has elevated the planning process to a strategic level, driving important business planning decisions and addressing emerging challenges
Provider of a technology platform for the fitness, beauty, and wellness services industries—San Luis Obispo, CA
Since MINDBODY is a public company, its finance team felt the obligation to ensure tighter controls on budgeting and reduce the human error associated with the manual work of financial planning.
Using Adaptive Insights has helped MINDBODY evaluate scenarios and models for multiple acquisitions, resulting in the company’s growth from $70 million to $250 million in annual revenue. It integrated Adaptive Insights with NetSuite and does extensive reporting using OfficeConnect. It built out extensive operational and financial models that include detailed top-line modeling supported by quota and commissions models. It now creates weekly rolling forecasts and has created long-term plans as well. The finance team is now able to highlight and spot trends in the business. Adaptive Insights allows the team to respond quickly when issues arise by providing data and strategic advice that supports overall business objectives.
Category: Torchbearer of the Year
Torchbearers is the Adaptive Insights private online customer community where current customers can connect to ask questions, learn tips and tricks, and more. Torchbearer of the Year recognizes the individual who has gone above and beyond to carry the torch for Adaptive Insights over the past year.