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Prior to Adaptive Insights, the budgeting process was labor-intensive. Now that we’ve streamlined the process we can provide needed results within minutes which allows us to focus our business.

Kelly Wall, Vice President, Accounting

Legendary Entertainment is responsible for some of your favorite popcorn flicks, including MonsterVerse films Godzilla and Kong: Skull Island as well as the Dark Knight trilogy and 300. However, its finance team struggled with a budgeting process that kept them from playing a leading role. “Life before Adaptive Insights was similar to the dark ages as far as the budgeting goes,” says Kelly Wall, vice president, accounting, at Legendary Entertainment. “Trying to get actuals that you could compare to your budget was a very tedious process. I was always manually having to update those actuals; by the time all the updates were made, two months had passed, and so it wasn’t really accurate, up-to-date data.”

With the Adaptive Insights Business Planning Cloud, finance was finally able to take their place on center stage. By significantly reducing the amount of time they spent reporting, they were able to increase their collaboration with department heads throughout the business. “The role of finance at Legendary has changed since using Adaptive Insights because now we’re more collaborative,” says Wall. “We have an active dialogue with people in different areas of our company, and we’re working together and solving issues and problems as a team, as we should.”

Challenges

  • Lacked access to up-to-date actuals due to massive Excel spreadsheets with multiple tabs that required two months to manually update
  • Unable to work on more interesting, valuable activities because of the tedious, time-consuming process of updating the actuals in the budget
  • Struggled with business managers unable to take ownership of their budgets and actuals
  • Results

  • Reduced the budgeting and reporting process from two months to a few weeks
  • Reduced the MD&A reporting process from several days to a single day
  • Improved the ability to make better business decisions using up-to-date data to compare actuals to the plan, analyze variances, and adjust as necessary
  • Introduced real-time dashboards to give department heads more ownership of the results and the ability to better manage their groups to the budget
  • About:
    Legendary Entertainment is a global media company that produces films, television shows, comics, and digital content for audiences around the world. In aggregate, its productions have realized grosses of more than $16 billion worldwide at the box office.
    Location:
    Burbank, CA
    Industry:
    Other