BEST CPM software out there!!
September 25, 2018
BEST CPM software out there!!
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Adaptive Insights
Adaptive Insights is used across our organization. It has addressed many business problems, such as more streamlined budgeting and forecasting, including income statements, balance sheets, cash flow statements, and capital expenditures. We recently completed our first 5-year forecast, which would not have been possible without Adaptive Insights. We use Adaptive Insights for all of our financial reporting. We also utilize the Dashboard capability for executives.
Pros
- Financial Reporting - Building financial statements in OfficeConnect is a breeze! They are quick and easy to update on a monthly basis! The HTML reporting within Adaptive Insights is also particularly useful for department and adhoc reports!
- Budgeting/Forecasting - Being able to budget/forecast within Adaptive Insights has significantly cut down on the time it takes to budget by utilizing formulas and assumptions within the model! We reforecast quarterly, and with Adaptive Insights, it's painless when compared to the Excel forecasting we did previously.
- Cash Flow Statement - Creating this for the annual audit was painful before Adaptive Insights! Now, it's a simple export from Adaptive Insights.
- Dashboards - The dashboards that can be created are endless and provide valuable insight for our executives in real-time!
Cons
- Model - It takes a little bit of time to get familiar with how the model works.
- Month-end reporting: It's hard to say how much time Adaptive Insights has provided, but I can say we no longer have formula errors in Excel reports and refreshing financial statements every month only takes a couple of clicks.
- Budgeting/forecasting: We have saved a tremendous amount of time in our budgeting cycle. After importing a budget in Adaptive Insights and setting up the model with formulas, we are able to copy the most recent budget version into the next budget version and review. Being able to budget in Adaptive Insights also removes the possibility of formula and linking errors that come with Excel.
Since implementing Adaptive Insights, we cut 5 days from our month-end reporting cycle! We are also able to provide intuitive dashboards in real-time to our executives. We recently created a quick what-if analysis in Adaptive Insights we otherwise would not have been able to do in Excel. Adaptive Insights also has a fantastic drill-through capability to see journal entries, which has helped tremendously when doing variance analysis.
Since implementing Adaptive Insights, I have been able to spend more time on strategic analysis, creating longer-term forecasts, cash flow modeling, and capital expenditure forecasting to name a few. It saves a significant amount of time for month-end reporting.
For us, it came down to Adaptive Insights and Host Analytics. The benefits seemed very comparable. We ultimately decided on Adaptive Insights because it cost less to implement and the time to implement was less compared to Host Analytics. We are VERY happy with our decision to go with Adaptive Insights.
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