MLB Finance Teams Open the 2017 Season with a New Active Planning Solution for Winning Budgets, Forecasts and Analysis in the Cloud
Adaptive Insights Works with Five MLB Teams to Accelerate Planning and Drive Organizational Success, Collaboration Throughout the MLB
Adaptive Insights, the only pure-play cloud vendor to be named a leader in strategic corporate performance management (CPM), is working with five Major League Baseball (MLB) teams to help up-level their finance teams’ games.
While today is Opening Day for most teams, for an MLB team’s finance leader it is just one day in the life of their deep, ongoing analysis of how to optimize ticket pricing, secondary markets, concessions, parking, operating expenses, TV ads, and more, in addition to player contracts and multi-million-dollar player compensation budgets. A challenge inherent in this process, for which any finance leader at the helm of an organization with multiple business units, locations, and divisions can relate, is the constantly changing business landscape.
Stats-Driven Baseball Culture Ideal for Analytics-Driven Cloud Planning
Baseball is one of the most statistics-driven sports in the world, and the expectation for real-time data on demand is high. MLB finance organizations are following suit, with teams throughout the league embracing cloud technology to plan faster, smarter, and more profitably.
“Adaptive Insights has been a game changer for me,” said Rob Gagliardi, Chief Financial Officer, Tampa Bay Rays. “Although finance departments don’t have a direct impact on the outcome of games, providing better, more timely financial information to club owners has positive, indirect results. I’m constantly evaluating ticket sales, pricing strategies, ballpark costs, and team expenses. With this powerful and easy-to-use cloud-based solution to budget, plan, and collaborate, I’m able to course-correct faster than before and provide the strategic value our club needs.”
MLB teams are rivals on the field, but collaborators when it comes to finances that unify the league. Cloud-based CPM software drives efficiency for individual teams, which are franchises that roll-up into the overarching MLB organization. In addition to budgets and financial plans for the major league team, each team has 6-7 minor league teams, including A, AA, AAA, and Dominican Republic leagues, and training facilities that fall under the MLB umbrella.
“While our franchises compete on the field, as a finance organization we are aligned across the MLB in terms of best practices to deliver the greatest return for our owners and the MLB at large,” said Peter Woll, vice president of financial planning & analysis, New York Mets. “Working with Adaptive Insights has significantly advanced our planning approach, streamlining more than 60 departments into a single system with visibility that allows us to maximize our performance.”
Moving from on-premises solution to the cloud ensures greater accuracy, unification, and speed for all layers of the business, thanks to a shared perspective and ability to adjust to changing circumstances in a unified fashion. These teams use the cloud-based Adaptive Suite, which includes planning, budgeting, reporting, and analytics capabilities.
To learn more about how MLB teams are using the Adaptive Suite for active planning, read the blog “Planning to Win: MLB Teams Embrace Cloud CPM.”