Adaptive Insights Announces Annual 'Torchies' Award Winners to Record Customer Attendance at Adaptive Live 2015
Awards Honor Customers’ Innovation, Collaboration, and Strategic Use of Adaptive’s Cloud CPM Suite
Adaptive Insights, the leader in cloud corporate performance management (CPM) for the biggest brands and the hottest companies, has announced the winners of the annual Torchie Awards, which honors Adaptive customers for excellence across key implementation and business categories. Named for the Adaptive Insights logo, the “Flame of Insights,” the awards were presented at Adaptive Live 2015, the company’s annual global user conference.
This year's Adaptive Live user conference marked the largest gathering of finance and business leaders to date, attracting 1,200 participants from across the globe who gathered to share strategies, best practices, and valuable insights. The event featured an industry-leading lineup of nearly 50 finance luminaries, keynote speakers, and customer leaders, including guest keynote Stephen Dubner, co-author of the New York Times best-selling Freakonomics series.
Adaptive Insights proudly presented Torchie Awards to the following 10 customers:
Best Sales and Revenue Analytics: A10 Networks
A10 Networks is a leader in application networking, helping organizations to ensure that their data center applications and networks remain highly available, accelerated, and secure. The company has implemented a daily data flow between its ERP system and Adaptive Planning and Discovery Enterprise that automatically inputs bookings, shipments, and margins into the team’s financial Adaptive Discovery dashboards. These daily updates help management understand where bookings and gross margins are trending versus targets early in the quarter, allowing sales executives around the world to optimally structure transactions throughout the quarter.
Best Intuitive Experience: Active Interest Media
Founded in 2003, Active Interest Media is a publisher specialized on "niche enthusiast magazines.” The team completely self-implemented Adaptive Planning, Discovery, and OfficeConnect. Starting with 1 seat and building out its model and dataset from the ground up, they now have rolled out to 60 users and the executive team. With Adaptive Planning, departmental managers are more active in updating plans and forecasts, and all reports and metrics are automatically rolled back up to executives who use this information to make better decisions.
Additionally, Discovery has given the team powerful visual analytics to help people outside of finance better understand performance scorecards. This allows the leadership team to set new goals for general managers to understand and to track to, which they couldn’t do easily before.
Best Planning Success: Blue Cross Blue Shield Rhode Island
Blue Cross Blue Shield Rhode Island is part of the 37 Blue Cross Blue Shield federations nationwide, helping to provide health insurance to more than 100 million Americans. By using a comprehensive view of historical data in Adaptive to produce more well-informed financial forecasts and detailed what-if scenarios, they’re benchmarking against competitors’ financial performance in the same field and heavily influencing future strategy. They’ve modeled core planning drivers for personnel, customers, and revenues, and are automatically updating forecasts according to changes in these business drivers so that company leaders are constantly making decisions using the most current analytics.
Best Suite Success: Bonneville International
Bonneville International Corporation is a media and broadcasting company. Their use of Adaptive is empowering its people to have more control with self-service analysis of performance across past, present, and future plans and strategies. Bonneville has integrated Adaptive Planning and Discovery Enterprise with all of the company's data sources necessary to keep up with the velocity of new information from its multi-faceted businesses and markets. The team is automatically refreshing a broad set of high-volume, weekly reports with Adaptive OfficeConnect, and plans to move to quarterly rolling forecasts next year.
Best Dashboard Success: Engine Yard
Engine Yard is a San Francisco, California-based company that offers a cloud orchestration platform and support that allows customers to rapidly deploy, monitor, optimize, and scale their applications. They are using Discovery dashboards beyond financial data to analyze metrics from multiple source systems such as Zuora for recurring billing, Zendesk for Support metrics, and Amazon Web Services. They’ve automated dashboards for Financial KPI’s, Customer Analytics, Trial Statistics, Support Metrics, and Web Services Usage, which has saved the team more than 2 days per month and allowed them to focus more time on understanding what’s driving the business. On an annual basis, with more than 15 people making decisions, this equates to more than 3,000 hours that the team has to focus on strategic analysis and making better, data-driven decisions.
Best Enterprise Deployment – International: Etihad Airways
Etihad Airways is the national airline of the United Arab Emirates. By using Adaptive, Etihad Airways has transformed its financial planning and analysis method from a finance specific process to performance management ownership organization-wide, with more than 350 stakeholders across several continents. The deployment of six Adaptive Planning instances culminated in a comprehensive five-year plan that is ‘business-owned’ with each unit focusing on how to advance over the next five years. This includes the company’s first ever five-year manpower plan that drives medium-to-long-term facilities and IT plans. Etihad Airways eliminated three months of data aggregation, validation, and reporting work annually.
Best Reporting Success: Fairfield Residential
Fairfield Residential is a leader in offering quality apartment living across the nation. By using Adaptive they can manage their extensive set of monthly presentation-quality reports, each with a branded look in a consistent format. This includes reporting for all managers, members of the leadership team, board of directors, and ownership group. Today they are using OfficeConnect and seeing spectacular benefits, with reports only taking 15 seconds to produce and 30 minutes of formatting and validating for each report now reduced down to seconds. This has eliminated days of building reports and validating work, allowing managers and businessleaders to see their performance reports several days sooner.
Best On-Premise Replacement: Gentiva
The Gentiva family of companies has been in the home healthcare business for 40 years, providing care for more than 350,000 patients. Gentiva needed to replace its ineffective budgeting software across 400 operating locations in the U.S. By using Adaptive, the team has gained a higher degree of budget manager collaboration and engagement. Users are reporting significant time savings, the finance team’s workload has been reduced by more than two months annually, and there is a heightened level of productivity across finance, IT, and among individual budget managers at each location. The quantified annual ROI of replacing on-premise software with Adaptive is 751%. Adaptive paid for itself within the first two months of use, and the average annual financial benefit is $1M.
Financial Planning & Analysis Excellence: Mayo Clinic
Mayo Clinic is a nonprofit clinical practice, education, and research group. It is the largest integrated nonprofit medical group practice in the world, employing more than 3,800 physicians and scientists, and 50,900 staff members.
Best Business Impact: Montclair State University
Montclair State University is a public research university located in New Jersey. By using Adaptive Planning, they have reduced overall application support, infrastructure costs, and provided greater flexibility and visibility of the budgeting process for all stakeholders. The team has transitioned from annual budgeting & planning with 225 participants to a more continuous planning process. The business impact of eliminating IT overhead related to a previous approach, along with increased productivity among finance team members and and department managers, has yielded significant results. The company's investment in Adaptive paid for itself within 7.1 months, and each year Montclair is achieving a 211% return on investment.