- Financial Reporting - financial statements are done instantaneously once the books are closed. There is no processing required. Recipients of the reports can obtain everything they need self-service. There is no distribution process required.
- Budgeting/forecasting - We converted our Excel process (which used 30 linked workbooks, 20 sheets each, and 50+ formulas each sheet, for a total of 30,000 formulas) to Adaptive. Now that the model is set up, new forecasts can be set up in minutes, rather than hours/days. The whole model is driver-based and easy to manage. It is much more intuitive for our directors, too. All they need to supply are updated drivers to run a new budget or forecast.
- Dashboard - We now have a company-wide mechanism for communicating KPIs, and both financial and non-financial data. Data can be presented both visually or in numeric formats.
- The Adaptive Planning portion of the suite is very mature and has few short-comings. The biggest improvement I can think of is the ability for formulas to cross versions.
- The Adaptive Discovery (dashboard) portion of the suite is much less mature. There are many chart types not available that are in Excel. For example, I would like to have an X-Y scatter chart to use. Also, some of the dial (chart) types have very little formatting options (like pie charts).
- While the object of the web-based product is to eliminate paper printing, there are times when it is necessary to print financial statements. It would be nice to print directly to pdf with the ability to format the reports.
Adaptive is well suited to present data (both financial and non-financial) in the form of financial statements, reports, budgets, forecasts, and dashboards to a distributed audience. That is, any data that can be accessed, and then summarized and presented for analytical and reporting purposes. The web-based platform allows for end-user access anywhere.
Where it is less appropriate, and often mistakenly so by those not directly involved in administering the product, is to try to use it as a replacement for an operational database and operational report writer. For example, in a SQL database, it would be better to write operating level reports directly in that database as SQL reports.
Adaptive Insights is not used by the whole organization; I believe only the Finance and Accounting departments have access to it since those departments spend the most time in Adaptive Planning. We do have certain people from other departments use Adaptive Planning during budget season, but their use is limited.
Adaptive Insights helps address broad finance, accounting, and budgeting related questions and serves as an informational resource in that way. My current job is my first time working in an FP&A (Financial Planning and Analysis) department, and the "FP&A Glossary" on Adaptive Insights is very helpful. It is full of terms you hear on a day-to-day basis and provides short definitions so someone can look up a term quickly and continue to perform their job responsibilities.
- Adaptive Insights has so many good resources and easy filtering capabilities with active searching. When you go to a section of Adaptive Insights, you will see filters at the top of the page. As you change them, the contents of the page change to suit what you're looking for. This makes it easy to find the resources you need!
- As previously mentioned, the FP&A Glossary is a great feature due to its concise definition of many common terms in FP&A.
- I have not had much experience with the eBooks section of Adaptive Insights, but there are is a wide variety of topics to explore, such as rolling forecasts, and best practices for controllers.
- On the Infographics page, I would love to see a thumbnail of the infographic before clicking on it. In general, I love that when you hover over a box, you get a more detailed description, but I would also love the ability to hover and then click to see a thumbnail before opening the full page.
- Similarly, I think the Videos page should have the length of each video somewhere on the squares. This would help people judge how much time they would need to watch each one all the way through, and be able to make an informed decision about how many they could watch in between meetings.
- There is no free text search bar.
The key business problems we have addressed by using Adaptive are:
- significantly improved budgeting and forecasting cycles (in terms of time and quality).
- Improved transparency with the rest of the business.
- Adaptive handles the concept of "versions" very well. This makes budgeting, forecasting, and scenario planning particularly easy. You can compare actuals vs budget, vs budget @ different rate, vs forecast or vs prior year all at the quick click of a button.
- Multi-user, multi-location, multi-currency handled with ease within the system.
- Adding or removing GL codes, levels or dimensions is really easy and is updated across the entire model.
- The reporting writing part of the solution is excellent. Once the data is in, you can report any parameter against any other.
- For reforecasting (e.g. doing 3 + 9 or 6 + 6), it would be useful to do constant currency analysis for versions that are "hybrid" (i.e. contain actual and plan data). At the moment, the virtual version functionality only works properly for actual or plan only versions.
- We are a company going through a process of changing financial years and trying to plan over multiple financial periods of different lengths. I have found it very difficult to handle this in the system elegantly.
- It would be good if there were more "template" models for various common business scenarios (e.g. sets of standard modeled sheets available for personnel and fixed assets) or sets of standard cubes for revenue or projects.
For very small companies, Adaptive may be too much. For a very large organization, there may be other solutions that are more suitable.
All the grumbling about budget season has stopped and I'm actually hearing people say that they "love Adaptive."
- Discovery - monitoring KPIs. The new Discovery interface is the easiest dashboard I've ever used. I can have a new report on a Dashboard in under a minute.
- Reporting - the click and drag graphical user interface makes it easy to design reports to answer almost any financial question. It also makes it easy to adapt a single report for 100 different users.
- Planning - having multiple versions and multiple levels allows us to compare, contrast, monitor and manage with ease.
- The in-house consultants who originally set up Adaptive were poor listeners - and as a result built a model that didn't work for my organization. I had to hire an outside consulting firm with more experience with nonprofits to redo my model. I lost about 1 year of usefulness as a result.
- Mastering attributes for reporting takes time. The system can do many things, but not without lots of time and effort. I ended up hiring a consultant to build initial reports I needed. I'm comfortable enough now to edit and update, but still have some hesitancy building new reports. One difficulty I have is not knowing the impact a single change, such as the name of a field, can have on everything else associated with that named field or dimension or attribute. It would be nice to have a map showing the links between everything.
Not as well suited for: neophyte programmer, software is complex and difficult to set up. Once it's set up it's much easier to use, however single changes can have multiple domino effects on other reports or sheets, or dashboards.
- Adaptive allows for more detailed budgeting.
- Adaptive allows managers to have more control over and take ownership of their budgets.
- Adaptive integrates fairly easily to most ERP and CRM systems.
- Through integration and the use of Office Connect, monthly and ad hoc reporting is quick and almost painless.
- Users need more visibility for external reporting. If this already exists, then I would suggest more training or webcasts that cover this topic.
- On the sales side of things, I would suggest ensuring that your NEW users are aware of the amount of training involved in learning to be an ADMIN for Adaptive Insights. Users need to be able to move beyond the implementation to active use. Yes, Adaptive makes things easy, but only if you know how to write the formulas and set things up correctly to run in the background. Hands-on training is a must! Our implementation was 3 years ago, though, so maybe things have improved somewhat since then.
- More problem/solution-specific forums for users to interact with each other and find new and better ways of handling unique issues. Since Adaptive is so flexible, it often takes bouncing ideas off others to figure out the best way to plan for certain types of revenue or expenses.
- It is very visually appealing
- As long as the hierarchy is built out right it's very efficient
- Security access is great
- The user experience could be better. Its difficult to get up to speed.
- It could be more visually appealing
- Send report feature in the tool needs to be improved
- Forecasting and Budgeting. We went from Quarterly forecasting to Monthly.
- Ease of use. Adoption was very from users that are familiar with Excel.
- Reporting and Variance Analysis.
- Dashboarding and KPIs
- Reporting. Could use a little more functionality, Pivot tables are an example. And Formatting of Reporting. Although, they do offer Office Connect which we use to circumvent these shortfalls.
- Versioning levels. It would be much easier if we could activate or deactivate a level within a version. Right now a level is global.
- Formulas have a quick way to see where a formula is applied and be able to add or change it across all instances. They have a way of doing this but it is a little time-consuming.
- With built-in and developed assumptions, it produces a very efficient beginning point for planning. It takes out most of the leg work of analysis on a line by line, and level by level basis.
- Producing reports from the budget sheets is quick and effective, literally at the click of a button. Also, developing reports is fairly straight forward and easy to create.
- Integration of data is well connected throughout Adaptive Planning.
- It may just be how our model is constructed, but I've had feedback that our customers would like to be able to plan using an average interest rate function, rather than by product.
- Would love chart integration in the sheets, to see trend analysis better.
- Adaptive is easy to use. It enables direct manual input to the spreadsheet and also direct file upload for bulk input. It also has multiple accounts, version, level, and dimensions which give more flexibility to the user in customizing the reporting layout. It adapts to the current business needs which requires multiple various lookout angle of to the data presentation.
- There are various online trainings provided to get an insight and knowledge on how Adaptive works, and the support team has also been very helpful. They are always ready and attend to my query for all of the problems which I encountered in using Adaptive.
- I use Office Connect for Excel and it has performed tremendously well. Once the formula is set up in the Excel file which is linked to Adaptive, I am able to just do a quick change to the criteria and refresh my monthly reporting file, and the file is ready! As simple as that. It saves me a great deal of time and enables me to perform my reporting process efficiently.
- There are many things that can be improved in cube sheet. Here and below are the examples : There is no tools to direct upload accounts GL data to cube sheet. It's currently available for standard sheet but not for cube sheet an it has to be created manually one by one.
- The numbers in cube sheet cannot be linked to standard sheet by formula or vice versa.
- Currently there's no connection between office connect and adaptive website report. Love to see any improvement in this area for example : office connect file can be saved as a one of the report in Adaptive website and vice versa. It's stand alone at the moment and there's no flexibility around it as the user have to stick either way in office connect or Adaptive website report once they create it.
- Provides boundary controls on the budget process to avoid formula errors experienced in Excel
- Has audit trail to track who made which input
- Provides significant history (currently 6 years) with fast processing time.
- Has flexible reporting capabilities.
- The time filter can't be set as a default so when you navigate through various sheets looking at one particular period you often have to adjust the time filter from the one previous used on any given sheet.
- GL account order can not be easily modified (e.g. to get to numerical order after adding a new account) and in some cases is impossible.
- Training can be expensive.
- Adaptive has great, knowledgeable and responsive support consultants.
- Adaptive along with the report tool OfficeConnect is very user-friendly and allows you to forecast and report easily.
- Our company has constant GL/Dept/Product structure changes but making those adjustments in Adaptive is easy.
- Being able to have a consolidated view of all split level detail regardless department or account.
- Automatic GL/Department/Product structure updates from Oracle.
- Giving the businesses the ability to model scenarios without having an admin to create a separate version.
- There's a lot of flexibility in how you implement the tool.
- It saves time on areas like allocations and other re-calculations as things change in your planning process.
- After implementation, it can be challenging to understand all of the design elements.
- Every once in a while you'll come across a place where you'll say "boy, that doesn't work the way I would have hoped", but Adaptive is always making improvements.
- Adaptive Insights makes it easy for multiple users to work on their forecast at the same time. In the past, we had each sales manager submit their monthly forecast via Excel and then all the files needed to be consolidated. This is no longer needed with Adaptive Insights.
- Adaptive Insights allows for real-time sales forecast updates.
- When we originally implemented Adaptive Insights, the system was very slow and almost unusable. After working with Adaptive Insights we were able to get the issue resolved. Moral of the story is to be careful how you implement the system.
- Adaptive is great at building a budget model, and providing reports around that model.
- Adaptive allows me to build our budget in various currencies for our global entities.
- Adaptive is great at allowing me to take a scenario, or version of our budget, and then tweaking it as we consider various business decisions, to determine the financial impact.
- I think Adaptive has room for improvement regarding the ability to use various sheets from an updated version - I'd like to be able to take a sheet that I've updated - say the Personnel sheet - and then have that information integrated back into a previous version. Hard to explain - and it may be something that I can already do but just haven't figured it out yet.
- I'd like to have more formatting options with the Discovery tools.
- The security is simple to use. We can restrict users to only see certain departments or sheets. We can also limit who sees salary information.
- Reports are easy to create and can be exported in a clean format to Excel or PDF.
- The systems allow you to enter data directly into the software or you can upload data from an external source.
- The programming of new sheets and formulas can be created with limited programming knowledge but you need to bounce around to a few different windows to get some formulas to work. I think it's easier to create formulas in Excel, but once the formulas are created they work well.
- Data Structure - The use of dimension attributes is a huge help to our organization. As an example, you can list the brand for each item that you currently sell. You can then run a report to summarize sales by brand.
- User-friendly - Adaptive Insights is the easiest system I've ever worked with. The layout of the user interface made it very easy for me to teach myself on how to navigate and use the system.
- Speed - Everything in Adaptive Insights is very quick. Updates made to the system, uploads, excel exports, and calculation updates. This is crucial to the success of our organization and has helped us in more ways than one.
- On a cube sheet, there should be an option to eliminate totals if you list different accounts for a single dimension.
- Enabled us to reduce monthly closes by 3 to 4 days. Now we report our group results 1 to 2 days after the operations have submitted.
- Provides one version of the truth for both actuals, forecasts, and budgets. Facilitates variance reporting against these versions.
- We use Office Connect for Excel extensively for our reporting of both operating results and group results. Once the standard template has been developed we refresh and report each month literally at the press of a button.
- We have found Adaptive to be very user-friendly and was very quick and easy to implement. Most of the implementation and development work was done by ourselves without the need for external consulting.
- Adaptive provides strong ongoing support. Whenever we spot a bug or have an issue we always get a quick response.
- As mentioned above, I would like to be able to use it to model our long-term (10 year) annual plans, but we are forced to work in monthly rests (which we need for our actuals and budgets).
- We use Office Connect for excel extensively for our reporting. Whilst it is a good tool, if I compare it with Hyperion Retrieve which I used many years ago it is not as easy to use, you can't copy formulae across and you can't use it to push data back to the database.
- I would like to have a bit more contact with Adaptive in the UK. Whilst we are very happy with the product and very self-sufficient it would be good to have a bit more frequent contact with Adaptive other than when they require a customer reference or when our license needs renewing.
- We like the flexibility of reporting and being able to drill into the detail and both a customer/item level for sales and account level for expenses. It gives much more information available to the user in a single sign on.
- The budget process is very nice. You have the ability to roll over budgets from year to year and make modifications to them. You can go back to a previous version and see exactly how things were budgeted. You have the ability to see prior year actuals by account when budgeting for the next year.
- We are starting to use Adaptive for a rolling forcast/projection tool as well by using a second version of the budget and making that more adaptable to how things are performing throughout the year as well as what is still to come.
- We wish some of the dashboard reporting had some more options in terms of formatting to better show actuals vs. budget or prior year in the charts. There are a lot of color options but not as much in terms of lines or other markings.
- You can drill into the account detail to see the transactions for the monthly information but you cannot not drill into the account detail for the year-to-date columns. This would be a useful feature to have available.
- The system interface is quite easy to use for financially-oriented employees.
- The versioning tools are excellent and minimize confusion as we roll through versions of the budget and forecast.
- The reporting tools are flexible and clear.
- Working with businesses using data sets of many dimensions and high cardinality can be difficult - our organization had to shoehorn multiple dimensions in by using some system hacks which were less than optimal.
- While reporting is flexible, the in-environment reporting tool has limited formatting capabilities. It would be nice for it to look more polished.
- Office Connect, the tool to import data into Office documents, can be a bit tetchy and not always update particularly well.
- Adaptive is good for cross-collaboration. The ability to see updates real-time expedites the budgeting process. Afterall, in coming up with a consolidated P&L forecast, there are inter-dependencies. For example, some departments' spend is allocated out.
- Adaptive is good for looking at the intersection of subsidiaries, departments, and expense accounts. The ability to pivot a one line item is business critical.
- Sometimes it takes a while to load.
- I would like to change the time scale shown in a simpler way. I need to take several steps to change views such as on a monthly, quarterly, or yearly basis. I change views so often that I wish it was just one click of a button.
- Adaptive eliminates the need for Excel sheets for budgets.
- Adaptive uses the cloud to share similar data and have data updated simultaneously, where with spreadsheets you might have to wait for someone to enter data into a spreadsheet or someone manually copy data into a master file. Adaptive becomes the master file.
- It helps store history quite well when wanting to compare things from previous periods or to look at trends.
- When looking at totals on average selling prices, the sheet tries to average all of the selling prices instead of calculating total sales dollar and volume.
In finance, we produce the management reports (i.e Company P&L statement, cash flows etc.) for our board pack in Adaptive Insights - rolling forward these from month to month is much quicker and easier than in previous years, when we would have to export all the data from our accounting system into Excel and spend hours producing graphs and charts.
- Allows the user to easily slice their data in many different ways.
- Simple to set up allocation formulae (i.e for overheads) that save a lot of time and complex calculation.
- Easy to give various budget owners different licences with distinct levels of permissions and access.
- Sometimes support responses can be a bit generic which is a little frustrating, having been a customer for a couple of years now.
- It's still tricky to exclude accounts/levels from reports - it's normally then a case of having to drag in each specifically.
- Drill-down functionality can be a little illogical/confusing at times.
Adaptive Insights Scorecard Summary
Feature Scorecard Summary
About Adaptive Insights
Adaptive Insights, a Workday company, aims to power a new generation of business planning, and drive business agility in a fast-moving world. The Adaptive Insights Business Planning Cloud offers powerful modeling for organizations of any size, and helps people in companies to collaborate, gain insights, and make smarter decisions faster.
More than 3,800 organizations across 50-plus countries use Adaptive Insights. The vendor says the product is easy, powerful and fast, and enables "active planning". Recognized for the solution's ease of use, Adaptive Insights ranks #1 in customer satisfaction in independent industry surveys from leading market analysts such as Gartner, Forrester, and BPM Partners.
According to the vendor, Adaptive Insights helps mid-size & enterprise organizations’ leaders better manage their business:
- Adaptive Insights enables organizations to break free from static planning, to active planning
- Active planning is collaborative, comprehensive, and continuous
- Active planning requires a solution that’s easy, powerful, and fast
- Automated Budgeting and Forecasting to increase productivity
- Self-Service Financial Reporting allowing users to create, share and personalize reports
- Seamless Integration with Salesforce.com, NetSuite, Intacct, & MS Dynamics
Adaptive Insights Screenshots
Adaptive Insights Video
Adaptive Insights Integrations
Adaptive Insights Competitors
Adaptive Insights Customer Size Distribution
|Small Businesses (1-50 employees)||%|
|Mid-Size Companies (51-500 employees)||60%|
|Enterprises (> 500 employees)||40%|
Adaptive Insights Support Options
|Free Version||Paid Version|
|Video Tutorials / Webinar|
Adaptive Insights Technical Details
|Mobile Application:||Apple iOS, Android, Windows Phone, Mobile Web|
|Supported Countries:||United States, Canada, United Kingdom, Ireland, Australia, New Zealand, and many more!|
|Supported Languages: ||English, Spanish, French, Japanese, Portuguese (Brazilian), Russian, Polish, Dutch|