As a company that built its business upon agility, open source platform provider CollabNet needed the same flexibility for managing its financial performance. That meant it needed a solution better than a single Excel spreadsheet, which grew to 150 tabs and the links stopped working. CollabNet found reliability with Adaptive Planning, part of the Adaptive Suite. Ease of reporting boosted efficiency in the budget planning process up to 40% and increased the frequency of forecast reports. The improved reporting allowed the accounting staff to spend more time strategically analyzing data rather than meticulously checking spreadsheet formulas.
- Needed a budgeting and planning solution that enables ongoing innovation
- As the company grew, spreadsheets developed into an unreliable budgeting solution
- Required a performance management solution with minimal implementation and technical maintenance requirements
- Efficiency of the planning process increased up to 40%
- Ease of reporting increased forecasting frequency from semi-annually to quarterly
- What-if scenario planning shed light on key investments for strategic decision-making