News
FOR IMMEDIATE RELEASE
Adaptive Planning Pioneers Alternative to Spreadsheet-Based Budgeting, Planning, Forecasting and Reporting
Company Officially Launches and Expands Management Team
MOUNTAIN VIEW, Calif. — November 17, 2004 — Adaptive Planning, Inc. announced today that the company has pioneered an alternative to spreadsheet-based budgeting, planning, forecasting and reporting with a new hosted solution that enables companies to better respond to today's unprecedented financial and operational pressures and improve control over financial performance. Targeted at the mid-market, Adaptive Planning combines a flexible, easy-to-use, spreadsheet style interface with a hosted, easy-to-deploy application framework that is affordable, quick to implement and offers a low total cost of ownership.
Adaptive Planning was founded by financial professionals who were frustrated with the limitations of spreadsheet-based budgeting, planning and forecasting. Research shows that the biggest obstacles organizations face when budgeting, planning, and forecasting with spreadsheets are lack of collaboration, inefficient data management, slow response time to market changes and limited scalability. As a result, 60 percent of mid-market companies are looking to change the way they do budgeting and planning. Adaptive Planning is the first company to address this need with a hosted application that includes the powerful budgeting, planning, forecasting and reporting capabilities companies want, without additional IT requirements or lengthy implementation projects.
The Hosted Solution
Adaptive Planning has a spreadsheet-like interface that is easy to configure, with formula-based capabilities that allow for powerful yet simple model building. The formula-based modeling capability exists within a series of core financial model elements, including sales plans, personnel, expenses, capital, balance sheet, profit and loss, and other non-financial metrics. As a result, companies can quickly develop a complex budget or forecast model and can easily modify their model to adjust to changes in their business, such as the addition of a new product line, a new department or a new office.
The web-based architecture of Adaptive Planning provides anytime, anywhere access to real-time information while promoting greater collaboration among planning participants. The Relational Database Management System (RDBMS) data structure creates a single repository for all planning data, which eliminates the need to manage multiple spreadsheets and consolidate data. Adaptive Planning also includes an integrated reporting engine that allows for multi-dimensional reporting and analysis. The centralized reporting environment eliminates the need for cumbersome report distribution, and reports are always based on the most up-to-date data.
The Management Team
Founded in 2003, Adaptive Planning is led by seasoned executives who have considerable domain expertise and proven success in building companies from the ground up.
The company recently expanded its management team with the addition of Laureen Ryan, vice president of marketing, and Deborah Goslin, vice president of worldwide sales and services. Both hires reflect Adaptive Planning's dedication to bringing accomplished, talented and experienced individuals onboard.
Prior to joining the Adaptive Planning team, Ryan served as vice president of marketing at Softline Software and held senior marketing and strategic alliances positions at ACCPAC and SBT Accounting Systems. She also served in senior sales and marketing and software consulting roles at Forum Software and Ernst & Young. Her background includes 17 years in the technology industry, including eight years working in channel sales-oriented software firms.
Goslin comes to Adaptive Planning with 20 years experience in high-tech sales and marketing and has extensive experience in building sales and marketing organizations from the ground up. Prior to joining Adaptive Planning, she held numerous management roles in software and services companies; most recently, she held the positions of SVP of sales, marketing & business development at NetBrowser Communications, and executive vice president of worldwide business development for Platinum Technology, Inc.
For complete biographies of the senior management team, please visit the Adaptive Planning website at www.adaptiveplanning.com.
Adaptive Planning is well-funded by highly respected venture firm ONSET Ventures.
About Adaptive Planning
Adaptive Planning offers a powerful hosted solution for budgeting, planning, forecasting, and reporting. Built for mid-market companies, its easy-to-implement and easy-to-use web-based collaborative modeling environment provides greater visibility into financial and operational performance. Adaptive Planning helps businesses improve planning efficiency through enhanced collaboration, the elimination of errors, high user adoption, and rapid deployment - giving businesses the ability to react quickly to their changing environments. Unlike spreadsheet-based budgeting solutions, Adaptive Planning's centrally managed, database-driven architecture delivers enterprise-class performance in an affordable, low-risk model. Headquartered in Mountain View, CA, Adaptive Planning is sold direct, as well as through a channel of business partners focused on the mid-market. For more information on Adaptive Planning, please visit www.adaptiveplanning.com or call (650) 528-7500.
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