Improve Budgeting and Planning Productivity with Adaptive Insights
As a leading Austin-based consulting firm, 9Gauge Partners continues to utilize its partnership with Adaptive Insights to leverage innovative CPM and business intelligence solutions to help leaders make better business decisions faster. Below is a detailed look into how Adaptive Insights can help your company’s forecasting needs:
Challenge: Did you know that..
- 64% of annual budgets and plans are out of date by the beginning of the fiscal year, and for 23%, the budgets aren’t even finalized until months into the New Year.
- 75% of the effort spent in budgeting and planning is wasted combining spreadsheets, consolidating, and rekeying data from managers and corporate data sources to drive the budget (Source: Ventana Research).
- 61% of spreadsheets used at the heart of most budgeting and planning processes contain data and formula errors (Source: Ventana Research).
- The top challenge organizations report with their planning process is that it simply takes too long (Source: BPM Partners).
You and your team are spending a significant amount of time and resources in spreadsheets or configuring hard to use budgeting and planning solutions that are extending cycle times and creating risk due to planning errors.
Opportunity: What if you could…
- Spend less time on the budget process, and actually accelerate it?
- Connect all stakeholders in a single environment?
- Roll up all data automatically from multiple managers and sources – and not have to worry about errors?
- Have a clear view of who submitted budgets and what has been approved?
- Immediately navigate anywhere in the budget / plan to answer questions and gain insight?
- Centralize calculations, with data integrity that you can trust?
- Move from managing the planning process to analyzing the plan?
Solution: Adaptive helps by…
- Saving effort: Adaptive can accelerate your budgeting and planning process by 70% by automating it with the latest up-to- date actuals, automated roll ups and calculations, workflow and approvals.
- Strengthening collaboration: Adaptive provides organizational workflow, process and task management – no more having to track down emails or chase down managers.
- Driving up-to-date data: Adaptive ensures data and business logic is up-to-date, making it simple to start with a solid set of actuals, ensure everyone is working from the same data, and continually refresh to see variances from plan.
- Reducing manual entry and errors: Adaptive customers report reducing their time spent reconciling spreadsheets from 80% to 20% (DocuSign). Adaptive customers are able to reduce time in spreadsheets 75%+ by centralizing budget information, plans and calculations (Source: Nucleus Research).
- Enabling companies to continuously plan and forecast based on the latest information.
Need Evidence? Check out these Adaptive Insights Case Studies:
- “It used to take us 3 weeks to finalize our budget, and now we can finalize in minutes. Instead of spending 95% of our time gathering data, we can spend critical time analyzing and optimizing our business.” – CDPHP
- McKinstry: Replaced 50 Excel spreadsheets with Adaptive and reduced budgeting time by 65%
- CollabNet: Accelerates Planning and Reporting Process by 25-40%
- Konica Minolta: Reduced budget process by 33%
- Docusign: Saves $269K annually by moving from spreadsheets