Adaptive Insights’ Participation at NACUBO Underscores Growing Demand for Cloud CPM at Higher Education Institutions
Long-term planning, collaboration drive colleges and universities to implement cloud CPM
Adaptive Insights, the only pure-play cloud vendor to be named a leader in strategic cloud corporate performance management (CPM), today announced it will participate in the annual meeting of the National Association of College and Business Officers (NACUBO), an association that represents chief business and financial officers from more than 2,100 colleges and universities across the country. Adaptive Insights will demonstrate how its Adaptive Suite software solutions can be used to enable collaborative planning across schools, colleges, and departments, while engaging users across the organization in the budgeting, planning, and reporting processes. The annual meeting takes place July 16-19 in Montreal, Canada. Adaptive Insights will demonstrate in booth #622, in conjunction with partners Armanino LLP and Carlson Management Consulting.
The use of cloud CPM software by higher education institutions continues to expand due to the complexity of data gathering, the need for access by non-power finance users, and the desire to engage in multiple scenario planning. Higher education financial plans and budgets must account for such things as enrollment, revenue, expenses, endowments, and long-term capital expenditures. In addition, because financial decision-makers usually include both the deans of various colleges and administrative support personnel, it is critical that financial software be accessible and useable by non-power financial users.
Regularly outperforming competitors in ease-of-use and deployment, Adaptive Insights software solutions enable higher education institutions to track critical business drivers and involve all key decision makers in the financial planning and analysis process. Moreover, because the software accelerates customers’ planning and consolidation cycles by up to 70%, finance teams have more freedom to conduct in-depth financial analysis, ultimately driving more strategic decision-making.
College of the Holy Cross, which recently received an A+ rating in financial fitness from Forbes Magazine, has implemented Adaptive Insights software for planning and budgeting. “Adaptive Insights has allowed our finance team to engage in operational and strategic decision-making that simply wasn’t possible before,” said Elizabeth Dionne, director of finance for the College of the Holy Cross. “The tools have significantly reduced the time we spend on strategic tasks like scenario planning. In a matter of minutes, we can analyze how large capital projects or assumption changes impact cash flows and operating margin—tasks that would have previously taken multiple days to fully perform can now be accomplished in only minutes. Further, the tools have facilitated increased interest and engagement in the planning and budget process across the organization.”
Over the past 12 months, Adaptive Insights has both rapidly expanded its customer base and made significant enhancements to its product offerings. The company’s Adaptive Suite is now used by more than 3,000 companies in over 85 countries around the world.
“Our presence at the NACUBO annual meeting provides us with an opportunity to demonstrate how first-class organizations, like the College of the Holy Cross, implement CPM software to truly transform the FP&A function,” said Maneesh Chhabra, director of value engineering and enterprise marketing, Adaptive Insights. “Together with our partners and customers, we are helping higher education institutions move from tactical to strategic finance.”
NACUBO, founded in 1962, is a nonprofit professional organization representing chief administrative and financial officers at more than 2,100 colleges and universities across the country. NACUBO's mission is to advance the economic viability, business practices and support for higher education institutions in fulfillment of their missions. For more information, visit www.nacubo.org.