Adaptive works for us.
October 20, 2017
Adaptive works for us.
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Adaptive Suite
Adaptive is used across the entire organization to deliver weekly and monthly operating results. Users include small contract managers up to Division Vice Presidents. Forecasting updates vary by contract but can be as often as monthly; the annual budget process sees heavy use across the 100 users. Our analysts work as a team to review individual contracts each month against budget and KPI's. In monthly meetings, the analysis team and operations meet to review specific results, these meetings use HTML reports in Adaptive to facilitate the reviews. Drill down capabilities in the system allow for answering questions down to the accounts payable voucher descriptions. The Office Connect tool is used each month to produce financial reports for the parent organization, board review committee, and senior management.
In some areas, we used Adaptive to collect operating data that would otherwise require emailing of files into the accounting group. This data collection then is turned into data imports into the ERP system.
In some areas, we used Adaptive to collect operating data that would otherwise require emailing of files into the accounting group. This data collection then is turned into data imports into the ERP system.
- Bottoms Up budgets are built using flexible models that can be customized at the contract level. Our operating divisions vary in their drivers and KPI, and Adaptive has let us tailor specific sheets to specific requirements. The different models then roll up into the corporate reports and budgets.
- Adaptive Office Connect has become a valuable tool in producing monthly reports in Word and PowerPoint. We are able to rapidly update reports as budgets and forecasts are modified.
- Using the multiple versions available in Adaptive has allowed us to create and compare various 'What If' scenarios without losing sight of the differing assumptions.
- Adaptive has been adopted by many different levels of users who do not need heavy IT or Financial backgrounds. These users, with some basic instruction have been able to gain ownership of the budgets and modify reports as needed.
- Recent introduction of multiple time periods (e.g. days and weeks) vs. months only is still under review to see if we can properly adopt it to our needs.
- In the reporting functions, it would be nice to be able to create scheduled reports or trigger specific report delivery.
- Budget process has been shortened, while at the same time allowing greater detail. Visibility of prior activities across multiple years has provided greater understanding of the budget/forecast at the lower levels of the company.
- Month End reporting cycles have been simplified and shortened. Reliability is increased as errors in data transfer between spreadsheets and/or files have been eliminated.
- Weekly reporting to operating groups is now provided with significantly less resources in the accounting group. Accounting team members are able to concentrate more on accuracy in the accounting entries and less on data entry into reports.
Overall accuracy in the financial reporting has been increased while at the same time reducing the amount of time needed to create the reports. In our weekly reporting we have seen savings of hours if not days, previously lost to cutting and pasting in reports. Our analysis team is able to review and discuss in great detail specific contract results nearly immediately after entry into the ERP. Review meetings with operations can now go into specific items and costs to get better answers as to budget variances.
In our analysis and reporting role, we have been able to spend significantly less time on the reporting and more time in the analysis. This has allowed for a greater understanding of the key business drivers. In some ways, we have been able to expand our influence in other areas of the company as we have been able to use the flexibility of Adaptive to provide tracking and analysis in areas that we not specifically financial. This includes HR, Sales and Safety.
I was not involved in the selection process, but have interfaced with TM1 to our parent company. My personal experience has found Adaptive to have greater responsiveness.