Adaptive Exceeded Expectations
March 23, 2018
Adaptive Exceeded Expectations
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Adaptive Insights
We use Adaptive across the whole group (5 operations in Africa and an HQ in the UK) for the monthly consolidation and reporting of actuals and as part of the annual budgeting process.
- 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.
- Has reduced our close period by 3 to 4 days.
- Has enabled us to integrate 5 acquisitions into our group reporting without the need for any additional central resource.
- Speeded up consolidation and reporting of annual budget.
- Has supported the due diligence requirements as part of two equity-raise processes.
The accuracy of financial data and consistency of measurement of KPI's has improved. Our accuracy and timeliness of variance reporting have improved.We have faster reporting and consolidation of actuals and budgets/forecasts. Gives us improved capacity to incorporate additional reporting lines and/or KPI's across the group relatively quickly. It has helped us provide financial information for due diligence required for equity-raising.
Adaptive Insights has freed up time that was previously spent checking the accuracy of numbers and has allowed more time to be spent on understanding and trying to improve the numbers. Overall as a result of implementing Adaptive Insights, we now spend less time on reporting and more time focussing on the business.