Adaptive Insights is a US-based company that says it is a leader in cloud corporate performance management (CPM), and business intelligence (BI), using a software as a service (SaaS) model ‘to provide local companies with powerful and intuitive cloud analytics and planning solutions.’
It backs up these claims with ‘record results’ in Australia and New Zealand during 2014.
The company says its BI and CPM solutions help customers make ‘strategic decisions that accelerate growth, improve performance, and drive success’, and through penetration of mid-sized and enterprise companies on a global scale, Adaptive claims it has earned the business of four times more customers than all cloud CPM competitors combined.
Impressively, the company proudly boasts a 100%+ revenue renewal rate, including upsells, with its newest innovations in the Adaptive Suite including the Adaptive OfficeConnect reporting product and Adaptive Integration, add to a new Adaptive Revenue solution and a new user experience also announced in 2014.
The company does roadshows for over 300 days a year, bringing together customers, partners and prospects at networking-style events that it says are well attended and successful events, and works with very well-known big brands.
Indeed, its first Australian and New Zealand tour for 2015 began last week, covering Perth, Auckland, Sydney and Melbourne, hosted by Adaptive’s President and CRO or Chief Revenue Officer, Keith Nolan, and Carolee Gearhart, SVP of Global Channels, who presented ‘on the emerging role of the CFO as a business leader, the death of legacy systems and new trends in the Financial Planning and Analysis industry.’
Our interview with Keith Nealon is below, which is followed up by the rest of this article.
The company’s success has seen the company grow its staff to 400 globally, which includes a near-doubling of its team across Australia and New Zealand, which it says displays ‘its commitment to the region.’
Because of the local and global growth, Adaptive says it is ‘rapidly scaling its business to meet market demand, not only from companies that are implementing CPM for the first time, but also from those that are choosing to replace or augment their existing legacy CPM solutions,’ with its SaaS model ‘empowering and fundamentally changing the way finance leaders fulfil their roles and influence their organisations.’
The company has over 2500 customers in 85 countries, signing on 51 new customers in Australia last year (2014) and 15 in New Zealand, with big names such as ‘Coca Cola Amatil, Thiess Mining, Roy Hill, Yalumba and Engineers Australia among others, bringing the overall customer base in ANZ to over 140.’
Adaptive has also enjoyed great partner support, counting 200 worldwide, including GK Horizons and Forpoint Solutions Australia, and signed up nine more in Australia, including ‘KPMG, Fusion5, Quantalytic Pty Ltd among others’, while promising it is ‘on track for another strong year in 2015,’ although you wouldn’t expect a company in Adaptive’s position to claim anything different.
The company’s new CEO is Thomas Bogan, which should endear him to his Australian and New Zealand customers, as in Australian slang, a bogan is an ‘unsophisticated person’.
However, we can safely assume that Thomas Bogan is definitely no bogan, for as former president of Rational Software where he grew the business to $750 million prior to IBM buying it.
Mr Bogan said: “It’s exciting to see how Adaptive has become a trusted, strategic partner to thousands of finance leaders across the globe. It’s these finance customers who inspire us to innovate and deliver solutions that help make them successful.
“In addition, our partner incentive programs and awards such as the APAC Partner of the Year award, won in 2014 by GK Horizons, is a great source of inspiration to existing business partners who are globally recognised in having the most success in delivering Adaptive Insights products to their customers. We look forward to continuing our momentum in 2015.”
Other global Adaptive partners include Accenture, Armanino, Cohn Reznick, Intacct, KPMG, McGladrey, Plex Systems and Netsuite, while some of its global customers include AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Siemens, among many others.