Adaptive Insights - an easy to use time saving solution
March 21, 2018
Adaptive Insights - an easy to use time saving solution
Score 8 out of 10
Vetted Review
Verified User
Overall Satisfaction with Adaptive Insights
We primarily use Adaptive Insights for financial planning and analysis. Administration is handled by finance but we have users in various departments across the business who are able to manage their budgets and view their cost reports through Adaptive.
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.
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.
- Reduction in man-hours for producing reports
- Allowing finance and budget owners to work together more closely
- Greater accuracy in multi-year forecasts
Improved accuracy - drill down functionality allows for quick and easy comparison between budgeted and actual spend - is key, as are a reduction in man hours in the time it takes to produce the reports. Scenario modelling is also extremely quick and easy using the many different versions in Adaptive.
My role was very much focused upon producing reports when I joined the team and Adaptive has definitely seen an improvement in my workload. With the system saving a lot of time when it comes to rolling forward and exporting the reports month to month, I've been able to spend a lot more time not only on analysing the meaning behind the reports, but also on business partnering and supporting cost owners.