Adaptive Insights Empowers Cochlear to Consolidate Financial Process, Achieve Business Growth
Adaptive Insights, the leader in cloud corporate performance management (CPM)for the biggest brands and the hottest companies, today announced global leaders in implantable hearing solutions, Cochlear Limited (ASX: COH) has chosen its software suite to enable faster and more reliable budgeting, planning, forecasting, and analytics.
Established in 1982 and based in Sydney, Cochlear holds over two-thirds of the global hearing implant market and was named one of the world’s most innovative companies by Forbes in 2011. Working with its dedicated service provider GK Horizons, Adaptive’s APAC Partner of the Year, Cochlear was seeking to streamline its 3 year planning process and selected Adaptive Insights based on its intuitive cloud technology, ease of use and experience with similarly sized global customers.
Prior to deploying Adaptive Insights, Cochlear relied on Hyperion Planning and Excel spreadsheets to manage its budgeting and business planning. Since implementing the Adaptive suite of solutions, the company is now saving a significant amount of time from the manual entry process and planning errors. Additionally, using Adaptive solutions alongside existing tools, the company is now able to centralise budget information and reduce cycle times spent on consolidating data - important to making rapid, strategic decisions.
Cochlear Group Planning & Analysis Manager John Plummer said, “We work in an environment which is constantly evolving, and therefore it’s essential we have access to accurate monitoring and forecasting. Before deploying Adaptive Insights there was too much time spent on combining spreadsheets, consolidating, and collating data. With Adaptive Planning we can now easily incorporate our financial and operational data, actuals, budgets and forecasts into one centralised place – saving us a considerable amount of time and allowing greater visibility across the business.”
Cochlear is also currently working towards implementing Adaptive OfficeConnect enabling the production of high-quality reports based on the latest data, in any desired presentation format.
Fintan Diviney, area vice president Australia and New Zealand for Adaptive Insights, said “Empowering companies with enhanced financial capabilities is one of our key objectives, and we are thrilled to work with innovative companies like Cochlear, which truly make a difference in people’s lives. We look forward to helping Cochlear achieve greater business visibility and a more collaborative, better-informed environment, and ultimately achieve their overall business goals.”
About Cochlear Limited
Cochlear Limited is the global market leader in implantable hearing solutions and is a top 100 global medical device company. The global product range includes the world’s leading Cochlear implant systems and the most advanced bone conduction hearing solutions. Cochlear BAS is a division of Cochlear Ltd and the world leader in bone conduction hearing solutions. Situated in Mölnlycke, outside Gothenburg, Sweden, the head office employs approximately 200 people to develop, manufacture and support Baha® and Vistafix® products.