As a financially driven company, International Power America placed heavy emphasis on the business planning cycle including annual budgets and monthly re-forecasts. Adaptive Planning (now Adaptive Insights) was elected to streamline the process and improve results. With excellent product knowledge provided by Stephen, a model was developed and implemented that was quickly assimilated by the 40 operational and financial users. The project was implemented on budget, on time with results that exceeded expectations.
- Reduced budgeting time 40%
- Shortened monthly close and reforecast cycle by 2 days
- Focused efforts on desired budget results, not budget preparation
- Allowed for continuous planning environment removing the need to regenerate the budget template
- Seamless integration with existing financial systems improved accessibility and reporting of data
- After merging with GDF Suez, the model was expanded to include 70 power plants, 7 times original scope.
- Additional model developed to report, consolidate and analyze plant metrics
The company was pleasantly surprised at how quickly we were able to implement expense forecasting in Adaptive Planning (now Adaptive Insights) with Stephen’s help. And, this was in the midst of ongoing organizational changes. That is, Adaptive was a tool that allowed us to change the structure on the fly and keep up with the planning, reporting, and dash-boarding requirements of a rapidly growing company.
- Rolled out to 10 users in first phase, up to 30 users projected by final phase
- Reduced budgeting time by 50%
- Eliminated countless weekend work previously allocated to consolidating the budget with allocations
- Dramatically increased visibility to expenses, and facilitated what-if scenarios
The biggest benefit of using Adaptive Planning (now Adaptive Insights) has been the ability to improve financial planning and reporting efficiency leveraging its multi-entity and multi-currency features. With Stephen’s assistance and his FP&A and Adaptive knowledge and experience, we created a full financial model with real-time visibility into our results.
- Streamlined financial planning process
- Better visibility into consolidated, multiple-entity business
- Delivered more accurate financials with consistent formulas