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A company currently in the midst of a growth wave in corporate performance management (CPM) took a big step forward into the business intelligence (BI) market. Adaptive Planning, an innovative supplier whose cloud-based CPM solutions have gained wide acceptance by midsize and enterprise businesses, announced the acquisition of myDIALS, a specialty vendor of cloud-based data visualization solutions.
myDIALS provides everyone making operational decisions for a company with access to vital performance measures. Key Performance Indicator and Key Performance Driver (KPI and KPD) metrics are presented in an easy-to-use, interactive dashboard, allowing users to analyze and explore key data from all business units, making it quicker and easier to determine the best course of action. While myDIALS will continue to offer standalone solutions, Adaptive Planning will also release updated offerings integrated with their CPM solutions. Even before the acquisition, Adaptive Planning had been experiencing a 73% CAGR (compound annual growth rate), with 1500 customers –-200 of those new --in 65 countries, according to Greg Schneider, VP of Marketing.
Corporate Performance Management is a cycle that begins with budgeting, and continues with comparison of actual performance against that plan. Reports and dashboards are used to analyze real-time data, and compare results to what was planned. The solution has proven particularly valuable for midsize companies, whose needs have grown too complex to be met by spreadsheet-based planning and for larger firms seeking an alternative to replace expensive, unwieldy and IT-intensive legacy enterprise systems.
The ease of use, affordability and accessibility of Adaptive Planning’s SaaS CPM has helped a growing number of companies to decrease planning times, increase accuracy, improve companywide collaboration and alignment, as well as make better-informed decisions more quickly. The solution—which requires no professional services to implement –has been adapted in a broad range of verticals, including software, manufacturing, healthcare, non-profits, retail, financial services and more. In the contact center environment, the solution’s robust analytics, integrated with Salesforce and other CRM applications, provide snapshots of how the sales pipeline is changing, making it easier for companies to accurately forecast sales, analyze performance and determine staffing needs.
Adaptive Planning is operating in what Schneider described as “the center of a perfect storm.” The proliferation of data and need to better utilize big data, the increase in mobile and remote computing and social chat and the cost-effectiveness of cloud based solution all contribute to positioning the company to sustain growth. Adaptive Planning has a 95% renewal rate among existing customers, with expansions and upsells bringing that figure up to 120%, providing them.
The myDIALS acquisition adds new layers to Adaptive Planning’s core competencies, including visual discovery, collaboration, profitability management and functionality panning. The addition allows Adaptive Planning to move into the broader BI market where data visualization is the fastest-growing segment. “It’s a great cultural fit,” said Schneider. “Customer satisfaction is woven into the DNA of both organizations, with each rated near the top by independent groups.”