Nav Level 1 - Customer Success

While Adlens improves sight with its line of adjustable eyewear, the company needed help from Adaptive Insights to gain greater visibility into financial performance across its expanding overseas operations. With the cloud-based Adaptive Suite, the Adlens finance team can now provide performance insights at every departmental level and more effectively handle the complexities of global, multi-currency operations. Reports that took days to create in Excel are now processed within hours, and that faster processing and consolidation cycle enables Adlens executives to make decisions using real-time analytics. With access to financial performance data from anywhere, Adlens' line-of-business managers can confidently set their sights on expanding in a global market.

Challenges

  • Business growth introduced new complexities to the financial planning, reporting, and analysis process
  • Needed to accelerate use of key performance data to make decisions in an international, multi-currency environment

Results

  • Able to effectively analyze worldwide sales force productivity to create comprehensive plans and budgets
  • Dramatically accelerated corporate-wide planning and reporting processes
  • Instituted greater financial accountability among line-of-business managers worldwide
About:
Adlens develops adjustable focus eyewear, a new category of vision correction that closely models the eye’s natural dynamic behavior for better vision quality and control. This revolutionary technology opens new possibilities for anyone with vision correction needs.
Location:
United Kingdom
Industry:
Manufacturing

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Handling Complexities of Multi-National Growth

As Adlens moved from research and development to a successful product line launch, scaling its operations became paramount. The company opened new offices worldwide, ramped up staffing, and developed new product lines. Adlens growth and success introduced new complexities for developing plans and measuring performance, and it became clear that Excel was no longer suitable for its financial planning and reporting.

"Although Excel was user-friendly, it had become obvious that we were outgrowing its functionality," said Ash Mehta, Chief Financial Officer of Adlens. "We needed a solution that would accelerate how we utilize our data to make decisions in an international, multi-currency environment, and help us analyze our business as a whole as well as on a departmental basis. We did a full market comparison and Adaptive Insights was head and shoulders above others in versatility for our business today, and a solution we could grow with."

"One of the key benefits for us was how quickly the solution could be implemented," continued Ash. "We were extremely happy that implementation was completed within six weeks and that even the training didn’t hold us up; in just an hour the budget holders had
grasped the essentials of Adaptive! The familiar and friendly user interface was a key factor in budget holder acceptance."

Greater Analysis and Visibility of Global Business in Real Time

Adaptive has drastically shortened the whole planning process for Adlens. Not only has it eliminated the time spent aggregating and consolidating spreadsheets, but it has also increased the throughput of reporting from several days to just hours. As a result, Adlens has been able to analyze the productivity of its sales teams worldwide to create comprehensive plans and budgets to scale the business and make better decisions.

"We can now do in-depth analysis for each territory where we have a presence – whether that’s cutting the data by revenue, product, or sales channel to better understand costs and margins across different dimensions," said Ash. "The resulting data has proved invaluable, as it has afforded us a greater understanding of the business internationally, including where funds could be invested or costs reduced for better investment returns."

Single Version of the Truth for Better Decision Making

Adaptive has helped the finance department gain greater responsibility within the company. Adlens now has a more detailed budget, resulting in greater accountability to plans and budgets with managers worldwide. Ultimately with one pool of data that can be viewed in real time, Adlens is able to have informed discussions and make decisions based on the real numbers. "With Adaptive, we have clear insight to make business-wide decisions," concluded Ash.

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