Not long ago, the majority of enterprise organizations weren’t just reluctant to put their data in the cloud, they insisted such a thing would never happen. Our founder, Rob Hull, remembers those days well. It was a time when he went against the grain and established Adaptive Insights, the first company to take corporate performance management (CPM) to the cloud and beyond. Since then, organizations of all sizes have indeed adopted cloud CPM software—and 3,000 of them use Adaptive Insights.
Gartner estimates that 30% of organizations have already moved financial components to the cloud or will do so in 2016. According to an article in TechTarget, Gartner analyst Chris Iervolino believes that “organizations see the value of the agility and flexibility provided by the cloud. They are taking advantage of cloud capabilities—faster time to value, painless upgrades, more intuitive interfaces, ease of use, new functionalities, and better analytics.”
Ease of use is a top criteria for CPM software
Certainly, ease of use is at the top of the selection criteria for CPM software and a key attribute that analysts repeatedly acknowledge. Nucleus Research, for example, rated the Adaptive Insights offering No. 1 in usability. Ease of use has a direct impact on deployment, as there can be no growth without organizational adoption. Clearly, ease of use is a key factor in CPM’s coming-of-age. Its ability to disrupt outdated forecasting processes is a factor, too.
And with that coming-of-age are some changes in how CPM vendors are tracked. This year, Gartner elected to expand its CPM coverage, breaking vendors into two categories. According to TechTarget, the firm distinguished strategic CPM solutions from financial CPM solutions, saying that “budgeting, forecasting and financial modeling are strategic and they are responsibilities of the office of finance, but they are most beneficial for the organization as a whole. Financial CPM is more about the accounting process, which, once again, is in the realm of the office of finance but is more exclusively for the benefit of the office of finance.”
CPM software is transforming organizations
Hull’s vision has always been to be a strategic partner to customers. He wanted to develop software that didn’t simply automate accounting tasks, but truly empowered organizations to glean insights from data, change how they do business, and enable what he often refers to as a “financial transformation.” Indeed, CPM software is transforming organizations—enabling growth, sustainability, and agility that simply wasn’t possible before. The proof is in the hundreds of customers who have publicly stated the astounding results their organizations have realized since moving their FP&A function to the cloud. And we do mean astounding—there’s no other way to characterize ROI numbers that in some cases total over 800%.
“Adaptive Insights’ solutions directly target productivity and visibility for finance teams, enabling those teams to take on a much more strategic role within their organizations,” says Krishna Roy, senior analyst, data platforms and analytics, 451 Research, a firm that has recognized Adaptive Insights for data visualization advances, data integration capabilities, and continued expansion into the enterprise.
Adaptive Insights in the Leaders Quadrant for CPM software
But probably the best testament to the maturity of cloud CPM software has come with the recent placement of Adaptive Insights in the Leaders Quadrant of the Gartner 2016 Magic Quadrant for Strategic CPM Solutions report. This is the first year a cloud-only vendor has been put in the Leaders Quadrant of any Gartner CPM report, alongside heavyweights IBM, Oracle, and SAP. In addition, BPM Partners placed Adaptive Insights in its Established category—the only pure-play cloud vendor to be named to the category, primarily due to our success with 3,000-plus customers. Joining other leaders such as IBM, Oracle, and SAP, Adaptive Insights also received the highest customer satisfaction in that category.
“It’s already quite an accomplishment that Adaptive Insights has been named to the highest customer satisfaction bracket, but when you consider that the company has been in the top ranks for years and can maintain that performance even with more than 3,000 customers, it makes the achievement that much more impressive,” says Craig Schiff, principal, BPM Partners.
Customer success, satisfaction, ease of use, and support have always been, and will continue to be, the cornerstones of our company. As our momentum continues—just today we welcomed large, high-profile enterprises in Fletcher Jones Motorcars, First West Credit Union, and the New York Mets, among others—we are also scaling and growing our executive team. Today, we welcome Michael Schmitt, our new chief marketing officer. Schmitt’s track record in executing strategic marketing programs in fast-growing companies will be an invaluable asset to our expanding executive leadership team as we enter this next phase of growth in the rapidly expanding CPM market.