The efficiency of Adaptive
Steve Paul, CPA profile photo
September 20, 2018

The efficiency of Adaptive

Score 9 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Adaptive Insights

It is being used across our entire organization. We are using it both for forecasting purposes and actuals reporting purposes. We were previously using an in-house built financial system and the implementation of Adaptive has saved us time both in our monthly reporting process as well as our planning/quarterly forecasting process.
  • It allows us to provide up to date information to senior management with the click of a few buttons.
  • It saves us time in our month-end close process as well as our budgeting/forecasting process.
  • Its dashboarding allows us to create visuals and monthly KPI's to report to senior management.
  • We would like to see the functionality of dates being added to web reports.
  • The month to month maintenance is sometimes cumbersome. This is more of a comment due to the fact that we are a construction company and our structure (jobs) changes on a monthly basis.
  • Month-end reporting has been reduced by two business days
  • Budgeting and forecasting completed with much less - I would estimate an average of 2 days is saved each budgeting/forecasting cycle per main user.
We have experienced fast reporting cycles, as mentioned previously, we have shortened our close schedule by a day or two in terms of the time it takes to complete the work. We are able to access "live" data much faster than before. We also have created KPI's/dashboards to report to senior management in our monthly financial packet.
The software is easy to maintain for a person with a non-IT background. I love the fact that I don't have to call our internal IT team every time there is a problem within the system. I have the knowledge and confidence to fix the problem myself. I also find it easy to develop reports, ad-hoc analysis within Adaptive.
It has made the month-end process and budgeting cycles much more efficient which has allowed me to focus on other tasks/projects that my position exposes me to.
We evaluated Oracle, Host Analytics, and Tagetik. Adaptive had a local team based in Chicago and seemed to fit our sweet spot in terms of the size of their company and the size of our company. The sales team pitched the product very well.
Adaptive Insights allows us to consolidate our reporting in a simple and efficient manner. The system is very user-friendly and a person with just an accounting background and no previous IT background can maintain the system with ease. Adaptive appeals to companies of all sizes as there are many tools each company can take advantage of.

Adaptive Insights, a Workday company Feature Ratings

Long-term financial planning
10
Financial budgeting
10
Forecasting
10
Scenario modeling
7
Management reporting
8
Financial data consolidation
9
Journal entries and reports
Not Rated
Multi-currency management
Not Rated
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
9
Detailed Audit Trails
8
Financial Statement Reporting
9
Management Reporting
9
Excel-based Reporting
9
Automated board and financial reporting
9
XBRL support for regulatory filing
Not Rated
Personalized dashboards
8
Color-coded scorecards
9
KPIs
9
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
8
Benchmarking with external data
8
Flat file integration
9
Excel data integration
9
Direct links to 3rd-party data sources
9