Technology -> Applications
Released: 8th January 2013
London – January 8th, 2013 — Adaptive Planning, the worldwide leader in cloud-based corporate performance management (CPM) and business intelligence (BI) solutions for companies and nonprofits of all sizes, has expanded its international presence with the launch of a new UK and Ireland operation targeting sales of the company’s software as a service (SaaS) CPM, data visualisation, and BI solutions. The new resources and initiatives reflect growing demand and opportunity in the UK and Ireland markets for the better, cloud-based alternatives for budgeting, forecasting, reporting and business intelligence that Adaptive Planning offers.
Last year Adaptive Planning secured $22 million in new venture funding with a goal of extending into new global channels and markets. Direct expansion in Europe reflects the company’s commitment towards this goal, with initial activities focused on the UK and Ireland. Adaptive Planning now has over 1,500 active cloud CPM customers – five times more than any other vendor – with 300 partners and 45,000 users in 65 countries around the world.
Adaptive Planning drove more than 90 percent year over year growth in new software bookings in 2012, and is the #5 fastest-growing software company in Silicon Valley over the last 5 years according to Deloitte. With more than 300 customers outside the US, international business was up 150 percent year over year for 2012. Adaptive Planning is used by some of the world’s most recognised brands such as Siemens, Philips, and Konica Minolta, as well as high-growth companies such as Jive Software, DocuSign and NetSuite.
“We’re seeing exceptionally strong demand for our cloud-based CPM solutions this year, and the opportunity in the UK and Ireland is enormous, particularly given the growing number of businesses and nonprofits looking for an alternative to time-consuming manual spreadsheets and expensive enterprise software,” commented John Herr, Adaptive Planning’s CEO.
“As organisations across Europe look to implement more frequent and accurate planning, forecasting and analysis, our dedicated operation supporting the UK and Irish markets will help us to extend our reach to address these demands,” he added. “Adaptive Planning already has an established network of Value Added Resellers across the UK and Ireland, and we look forward to working closely with these partners as the company expands its offering to provide customers with access to powerful yet intuitive cloud-based visualisation and business intelligence capabilities.”
Adaptive Planning’s cloud delivery model presents significant advantages over traditional on premise CPM software, including a total cost of ownership that is 75 percent lower, a web-based user interface that is intuitive for all types of users, and deployments that take just weeks instead of months. In the past year Adaptive Planning has extended its cloud-based CPM offering with the introduction of Adaptive Discovery, a powerful new visual discovery system. The company also launched its Adaptive myDIALS cloud-based business intelligence application following its acquisition in September of myDIALS, the leading provider of cloud data visualisation solutions.
Adaptive Planning’s new UK and Ireland operation will be headed by Ian Preston, who joins the company as Vice President of Sales for UK & Ireland. Ian brings in-depth enterprise performance management and business intelligence expertise to Adaptive Planning, having spent 12 years at SAP/Business Objects and six years at Hyperion.
According to Ian: “Adaptive Planning’s rapid growth is evidence of the real need for the kind of cloud-based CPM solutions that can provide finance professionals with the information they need to make quick, intelligent decisions in today’s volatile economy. It’s a great opportunity, and I look forward to driving the company’s growth, and establishing Adaptive Planning as the clear market leader across the UK and Ireland.”
About Adaptive Planning
Adaptive Planning is the worldwide leader in cloud-based corporate performance management (CPM) and business intelligence (BI) solutions for companies and nonprofits of all sizes. The company’s software as a service (SaaS) platform allows finance and management teams to work together to plan, monitor, report on, and analyse financial and operational performance. With capabilities for budgeting, forecasting, reporting, consolidation, dashboards, and business intelligence, Adaptive Planning enables finance, sales, and other business leaders to make better, faster, more collaborative decisions that drive a true competitive advantage.
Adaptive Planning is used by over 1,500 organisations worldwide, from midsized companies and nonprofits to large corporations, including AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Vail Resorts. The company is the 5th fastest growing software company in Silicon Valley on the Deloitte Technology Fast 500™ list; has the #1 brand in midmarket CPM; and ranks #1 in customer satisfaction in independent industry surveys. With customers and partners in 65 countries worldwide, the company has the strongest channel ecosystem in the cloud CPM space, with over 300 worldwide partners including Armanino McKenna, Intacct, IntuitiveTek, Plex Systems, SAP, and NetSuite, which offers a specialised version of Adaptive Planning as the NetSuite Financial Planning module. Adaptive Planning is headquartered in Mountain View, Calif. and is funded by Norwest Venture Partners (NVP), Royal Bank of Canada (RBC), ONSET Ventures, Monitor Ventures, and Cardinal Venture Capital.
Published by: IT Analysis Communications Ltd.
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