Adaptive Integration with Salesforce a “Tremendous” Benefit for Sift
Salesforce.com is the main sales projections data source for Sift business lines, making Adaptive’s pre-built Salesforce integration a significant benefit for the company.
“It has just been tremendous for us,” said Priscott of the Salesforce integration feature. “We’re pulling our weighted pipeline directly into our forecasts in Adaptive so we can better analyze pipeline precision and probability of order conversions. The outcome of that analysis affects plans and forecasts in other areas, like hiring. So our business is completely reflected in Adaptive, and everyone who needs to can see updated financial plans.”
Adaptive Productivity Delivers ROI
Sift has accelerated its monthly close and reporting cycles by thirty-six days over the course of a year by eliminating time spent aggregating, consolidating, and verifying data with the Adaptive Suite, a strong return on investment. “Adaptive is absolutely the right solution for us,” said Priscott. “It helped us to eliminate many repetitive tasks, giving our finance team more time for reflection and data analysis. We’ve cut our data validation and aggregation process by 3 days each month. And when considering an acquisition, we can understand the impact of a new combined entity and various scenario options we want to evaluate in minutes. Adaptive has really delivered a quick ROI in productivity improvement alone.”
New Effcient, Accurate Process for Financial Forecasting
Adaptive has helped Sift broaden planning and accountability down to every department.
“We create new forecasts every week at the push of a button; in fact the forecast is being update constantly. The cloud-collaboration aspect is also key because we can have 20 different department leaders working in 20 different areas of our financial process, simultaneously building to a greater whole. We now forecast through to 2017 with total visibility to all key stakeholders.”
Beyond forecasting, Sift business leaders are able to import cost and revenue numbers from the company’s general ledger system into Adaptive Planning, and then compare that data with the most current budgets and forecasts.
“Adaptive not only gives us a comprehensive view of business performance, but also allows us to drill into different areas of the business for more detailed analysis,” Priscott continued. “It’s like being able to put your hands on the key business levers to assess what is going on and where we stand financially, and suggest corrective action with evidence-based insight.”
Increased Understanding of Financial Performance
Today, each Sift business unit has also made use of Adaptive’s robust reporting features to create detailed operating statements, and conduct variance analysis of full year forecasts compared to budgets and actual performance. They can then analyze any new impact on the business at the division and corporate level.
“We have very complex revenue streams, so it’s important for people to have access to, collaborate on, and discuss key business metrics,” Priscott explained. “Adaptive helps our managers understand the drivers of financial performance. We’re all on the same page. For me personally, I’m able to confidently lead decision-making as a CFO because Adaptive is my insight generator.”