Adaptive Insights Extends Its Cloud CPM Leadership With Strong Q1 2015
Rapid Growth, New Customers, Innovation, and Industry Accolades Reinforce Momentum
Adaptive Insights, the leader in cloud corporate performance management (CPM) for the biggest brands and the hottest companies, today announced business highlights and an expanded leadership position for its first fiscal quarter of 2015. Adaptive grew its customer base to more than 2,600 customers in 85 countries—over four times the customer count of all other cloud CPM vendors combined. The company achieved over 50% YoY growth in total annual recurring revenue (ARR) bookings for Q1 as the company continued to win new midsize and enterprise customers and expand deal sizes globally. Notable new Adaptive customers in Q1 2015 include: California State Parks Foundation, The Humane Society, Make-a-Wish Australia, Oxford International Education Group, Suffolk University, and XO Communications.
“Unwavering performance in a crowded cloud CPM market paired with new innovation and consistently top-ranked customer experience explains why Adaptive is in a leadership position today,” said Craig Schiff, analyst at BPM Partners. “The company has distinguished itself with a broad suite of integrated cloud planning and analytics solutions that are powerful, intuitive, and widely deployed across thousands of mid-size organizations and enterprises.”
Adaptive continues its impressive track record of corporate and innovation leadership, including:
- New executive leader: In January 2015 Adaptive Insights announced a new CEO, Thomas F. Bogan. An experienced enterprise software executive and venture capital investor, and chairman of the board at Citrix Systems, Bogan brings a 25-year success record in building and growing large, publicly-traded enterprise and cloud software companies.
- Enhanced product suite and new Adaptive Solutions strategy: Adaptive announced over 20 enhancements to its flagship Adaptive Suite via the 2015.1 release, along with the introduction of Adaptive Solutions, a new approach that jumpstarts more sophisticated use of the Adaptive Suite for specific goals such as managing revenue. Adaptive Solutions leverage a combination of model templates, packaged content, and best practice professional services gained through thousands of successful customer implementations. Adaptive Revenue is the first of the Adaptive Solutions, and is the first and only solution that brings together sales, finance, and service stakeholders on a unified cloud CPM and BI platform.
- Partner momentum: Adaptive’s partner ecosystem continues to help supercharge the company’s global growth. In Q1, half of all of Adaptive’s new ARR involved partners, who were active in bringing customers into the Adaptive community in 16 different countries. Adaptive also added 11 new partners in the quarter.
- Industry recognition: Adaptive’s momentum continues to gain industry analyst recognition. Adaptive was positioned as the highest “Ability to Execute” score of any vendor in the Visionaries Quadrant in Gartner’s 2015 CPM Magic Quadrant; was rated third out of 13 vendors in the Dresner 2015 Cloud Business Intelligence Market Study; and scored the highest in customer experience of any extended vendors on BPM Partners' most recent Vendor Landscape Matrix.
“Leading finance executives play a central role in driving business strategy and increasingly driving business growth. As Adaptive helps to power this industry trend and our customers’ success, we’re seeing outstanding growth as a result,” said Tom Bogan, CEO of Adaptive Insights. “Adaptive is in an unparalleled position to help modern finance leaders leverage the best in cloud CPM to take a more strategic and value-added role in the organization.”
Adaptive CFO Indicator
Founded by a CFO, Adaptive delivers innovation specifically built to meet the needs of today’s finance leaders. Tapping into this community it knows so well, Adaptive recently unveiled its inaugural Q1 2015 CFO Indicator, which unveiled top-of-mind concerns for CFOs along with key attributes of the modern CFO. The study outlined the ways in which modern CFOs can build upon the opportunity to achieve high levels of value creation, strategic decision-making, and business transformation.
Adaptive Insights is once again hosting the largest gathering of finance customers in cloud CPM for a premier industry conference focused on maximizing companies’ performance management journeys. This annual user conference, Adaptive Live, is filled with engaging keynotes, innovative content, and product-specific breakout sessions, all custom-built for modern finance leaders. Adaptive Live features the highest level of customer presentations and panel participation in the industry, with nearly 50 customers, finance leaders, and premier CFOs speaking; keynote presentations from Adaptive executives and a guest keynote from Stephen Dubner, co-author of Freakonomics, on the power of data-driven insights. Attendees will gain valuable insights with informative breakouts and Wizard Bar sessions, learn how to optimize and extend the use and value of the Adaptive Suite in their businesses, and participate in two dedicated training days with easy access to product specialists.