Adaptive Insights Delivers 211% ROI to New Jersey-Based University
Nucleus Research ROI Report Details New Visibility and Decision-Making Benefits Montclair State University Achieved With Adaptive Deployment
Adaptive Insights, the worldwide leader in cloud corporate performance management (CPM) and business intelligence (BI) for the biggest brands and the hottest companies, announced a Nucleus ROI Report on Montclair State University that shows the University achieved 211% ROI and 7.2 month total time to value payback while using Adaptive’s CPM solutions. Montclair State University, a New Jersey-based public university, deployed Adaptive Insights to replace an outdated and cumbersome planning and budgeting solution that was unable to meet its needs. Nucleus found that Adaptive enabled Montclair State to provide the robust reporting and analysis needs its user community was looking for, while simultaneously increasing staff efficiencies and clarity into the budgeting process.
“We considered other solutions, but the cost, ease of use, and easy access to our legacy systems were key factors that drove our decision to switch to Adaptive,” said Brian Teets, office of budget & planning, Montclair State University. “Our users now have much greater visibility into the budget process and are able to incorporate other data that they didn’t previously have access to, greatly improving their decision making.”
A bustling university with over 20,000 students, Montclair State was looking for a more robust financial reporting solution that would integrate into existing systems, allow for easier deployment through a SaaS base, reduce application support, cut infrastructure costs, and provide greater flexibility than their existing tool. Their internally-generated solution provided static reports but lacked financial reporting and analysis capabilities, and required significant IT involvement. As a result, they were seeking a cloud-based solution to free up any dependencies on the IT department.
By the numbers: compelling ROI
Deploying Adaptive Planning eliminated the need for external consulting to support the internal solution, as well as cut the need for manual report generation. It also created a dramatic increase in manager, IT, and general employee productivity, resulting in:
ROI: 211% annual ROI
Payback: 7.2 months of total time to value
Three months to deploy
Addressing the planning needs of higher education
As higher education institutions face unique planning and budgeting challenges around issues like enrollment, retention, grants, and variable growth rates, they are increasingly searching for stronger solutions to address planning & budgeting requirements. Adaptive provides a solution that simplifies and streamlines the financial processes and provides complete understanding and visibility into the budgeting process. Montclair State joins other higher education institutions running Adaptive such as: Babson College, Barry University, Duke University, Florida International University, Hawai’i Pacific University, Stanford University, University of California Davis, University of California San Diego, University of Central Florida, Vassar, and Yeshiva University.
The initial phase was rolled out to 150 users and demand is growing for more access within their user community. Montclair State currently runs its financials/HR on legacy systems, but it is in the process of implementing PeopleSoft financials and Workday human capital management. With Adaptive, the university is able to include other sources of data, such as personnel and student enrollment data, that were not part of the original solution, and can now access and generate the reports and analysis their users were looking for.
“Montclair State’s compelling results are a great representation and validation of the value our higher education customers are seeing,” said Paul Turner, vice president of product marketing at Adaptive Insights. “Adaptive’s innovative and intuitive cloud-based approach aids educational organizations with stronger analysis capabilities and better informed decision-making, all within a solution that is much more efficient to adopt and deploy.”
The complete ROI Report from Nucleus Research can be viewed here.
Download the Adaptive Acceleration report to get an inside look at the experience of the Adaptive customer as well as an overview of compelling statistics, success stories, and industry inroads and benefits.
About Montclair State University
Building on a distinguished 106-year history, Montclair State University is proud to be a leading institution of higher education in New Jersey. The University’s six colleges and schools serve over 20,000 undergraduate and graduate students in more than 300 doctoral, master's and baccalaureate level programs. Situated on a beautiful, 250-acre suburban campus just 14 miles from New York City, Montclair State delivers the instructional and research resources of a large public university in a supportive, sophisticated and diverse academic environment. montclair.edu.