Adaptive Insights - a real gem!
March 20, 2018
Adaptive Insights - a real gem!
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Adaptive Insights
Adaptive Insights (AI) is being used for budgeting and forecasting and for financial reporting. It is used across the organization. The budgeting/forecasting solution is used primarily by the treasury team and the financial reporting solution is used by the accounting team, however, all departments are encouraged to use AI to view current expectations and to see budget and actual details.
- 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.
- Has increased the accuracy an timeliness of the budget.
- Has reduced the amount of staff time required to prepare the financial statements for the Board package.
- Has increased the timeliness and accuracy of the forecasting process and reduced the amount of effort required.
Analysis has been automated to greatly reduce the amount time required to prepare and has improved accuracy.
Yes, I can spend more time on actual planning rather than on data collection and manipulation.
- Profitstars Budget Manager
We have used Profitstars Budget Manager. I understand that it has been somewhat upgraded, however, at the time it was very slow, did not provide a full financial statement, on import/export functionality, no audit trail. Basically totally inadequate, just one step up from Excel which has the boundary control and audit issues that make Excel unworkable.