New OfficeConnect Reporting Product and Partnership Help Companies Automate Financial and Management Reporting and Cut Complexity versus Legacy CPM Solutions
SAN FRANCISCO – May 20, 2014 – – Adaptive Insights, the worldwide leader in cloud business analytics solutions for companies and nonprofits of all sizes, today announced at its Adaptive Live 2014 user conference new products and partnerships that reinvigorate reporting processes from financial and board reporting to disclosure management. By combining reporting power traditionally only available to the world’s largest enterprises with the incredible ease of use and delivery of Adaptive’s cloud, organizations can transform their reporting processes with unprecedented speed, efficiency and flexibility.
Adaptive OfficeConnect, part of the Adaptive Suite, is a robust new reporting product that injects new power into Excel, Word, and PowerPoint with dynamic, always up-to-date data from the Adaptive cloud — accelerating reporting cycles and eliminating cost and risk. Additionally, a new partnership with regulatory compliance leader Vintage Filings, a division of PR Newswire, provides complete disclosure management – from XBRL tagging and filing, to EDGAR HTML submissions – enables the world’s largest public enterprises to close with Adaptive and disclose with one of the world’s most trusted financial printers.
Traditional reporting processes are often mired with extremely high costs, risk of error, and time-intensive tasks. Organizations with one billion in revenue can spend more than half a million dollars in reporting (Source: APQC) and allocate ten or more full-time employees for financial reporting alone (Source: Aberdeen Research). Organizations looking to drive enterprise-class reporting processes have often been required to spend millions on costly, inflexible and hard to maintain legacy CPM solutions. For public companies needing to submit their financial reports to regulatory agencies, the process can be tedious, taking days to aggregate multiple spreadsheets from across the business, manually tag and update values across all filing documents, and validate that data is from the same version of the truth.
Adaptive OfficeConnect brings the power and efficiency of the Adaptive cloud to Microsoft Office, saving organizations time and money by transforming static Excel, PowerPoint, and Word reports into live, dynamic and connected reports in minutes. Organizations now get the best of both worlds – enterprise-class financial and board reporting, with data sourced from Adaptive’s easy to deploy and use cloud CPM suite.
“Adaptive OfficeConnect is a game-changer. We can transform all of our existing Excel reports and connect them to Adaptive, combining the distinctive power of Adaptive and Excel,” said Paulo Castro, Manager of Accounting, Embraer Defense and Security, Inc.
Adaptive’s new partnership with industry leading printer Vintage Filings empowers organizations to leverage Adaptive OfficeConnect reports throughout the disclosure process and beyond the walls of the enterprise. Liam Power, President of Vintage Filings, commented, “We are excited to be partnering with the #1 cloud CPM and BI suite to provide complete disclosure management. Thousands of public companies trust us with their regulatory submissions, and we look forward to bringing our deep expertise to Adaptive’s customers to streamline their filing processes.” Now the Adaptive cloud can extend throughout the complete financial reporting lifecyle for the world’s largest public companies with Vintage’s superior service.
Beautiful Reports Built On-the-Fly: Adaptive OfficeConnect easily and quickly creates presentation-quality reports based on up-to-date data from Adaptive’s cloud CPM, creating engaging board books, financial reports, management reports and more. Adaptive OfficeConnect embraces the complete control of Microsoft Office formatting, calculations and charting, eliminating the ongoing costly and complex maintenance with live, accurate data.
One-Click Intelligent and Dynamic Reports: Only Adaptive OfficeConnect enables business users to transform their existing static Excel reports into live, connected dynamic Excel reports, in just minutes. Adaptive OfficeConnect’s intelligent linking ensures that data is accurate and always up-to-date, eliminating errors and time traditionally spent copying, pasting and reformatting. Reports are refreshed with a simple click—delivering yet another boost in productivity.
Comprehensive Support for Microsoft Excel, Word, and PowerPoint: Adaptive OfficeConnect seamlessly weaves report information into Excel, Word and PowerPoint for board books and executive presentations. Infused with the same dynamic connection to data in Adaptive Planning and Consolidation, updates are seamlessly incorporated throughout all documents with a simple refresh.
Unified Close to Disclose Reporting: Adaptive OfficeConnect extends dynamic and connected reporting beyond the enterprise, enabling organizations to file their public financials in Microsoft Word with simplicity and ease, all with full support from industry filing and printing organizations.
Adaptive OfficeConnect builds on Adaptive Suite’s leading cloud CPM solution that is powerful, yet incredibly easy to deploy and run. “Increasingly, enterprises are on the march from expensive legacy CPM solutions, and are looking to transform the speed and flexibility of their aging planning processes with the agility of the cloud. With OfficeConnect, it’s easier than ever for them to make the move, and migrate their existing reports and processes to Adaptive,” said Connie DeWitt, Vice President of Product Management at Adaptive Insights. “These new innovations enable enterprises to accelerate their reporting processes by 70 percent, while tapping the Adaptive cloud to slash costs by 95+ percent versus traditional solutions. Enterprises can realize time and money savings to accelerate growth and drive success.”
Adaptive’s powerful global partner ecosystem is equally excited about Adaptive OfficeConnect.
“Adaptive makes an ideal partner because the company is so in tune with customer and partner needs and delivers innovations based upon them,” said Brian Storrs, founder and president, IntuitiveTek. “Each new feature and product added to the Adaptive Suite enables us to meet the most demanding enterprise needs, and enables us to take legacy and unmanaged spreadsheet-driven processes to the cloud with ease.”
About Adaptive Insights
Adaptive Insights is the worldwide leader in cloud-based business and financial analytics 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 analyze financial and operational performance. With capabilities for budgeting, forecasting, reporting, consolidation, dashboards, and business intelligence, Adaptive Insights enables finance, sales, and other business leaders to make better, faster, more collaborative decisions that drive a true competitive advantage.
Adaptive Insights is used by over 2,000 organizations 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 #1 fastest growing cloud business analytics and CPM software company on the Deloitte Technology Fast 500™ list; and ranks #1 in customer satisfaction in independent industry surveys. With customers and partners in 85 countries worldwide, the company has the strongest channel ecosystem in the cloud CPM space, with worldwide partners including Armanino, Intacct, IntuitiveTek, Plex Systems, SAP, and NetSuite, which offers a specialized version of Adaptive Insights as the NetSuite Financial Planning Module. Adaptive Insights is headquartered in Palo Alto, Calif. and is funded by Bessemer Venture Partners (BVP), Norwest Venture Partners (NVP), Royal Bank of Canada (RBC), ONSET Ventures, Monitor Ventures, and Cardinal Venture Capital.