Cloud financial software company Adaptive Insights, which hired a new CEO just three months ago, is building on a strong first quarter with a tighter Salesforce partnership and an expansive product update.
The company now boasts more than 2,600 customers in 85 countries, which it claims is more than four times the number of accounts booked by other players in this category, which includes the likes of Tidemark, Anaplan, and Host Analytics. Its year-over-year bookings for the quarter grew 50%.
Roughly half of Adaptive Insights’ clients are midmarket businesses seeking faster insight into corporate performance management. But it has won over some pretty big brands, including Snap-on, Coca-Cola, Bridgestone, and Toyota.
“It’s really around the notion of getting toward faster planning cycles,” said CEO Tom Bogan, who is also chairman of Citrix Systems. “We need to allow finance teams to really be more responsive.”
To further fuel its momentum, Adaptive Insights is using its customer conference this week to roll out preconfigured frameworks, called Adaptive Solutions, that help automate and speed up this process. It works by making it far easier to pull sales, service, and other customer data into the planning dashboard. The first set in the series include models for corporate goal setting, quote planning, analyzing sales compensation, and so forth.
Adaptive Insights is also boasting a much closer relationship with Salesforce, one that enables “one-click integration” between the companies’ cloud business software applications. Adaptive Insights is now one of 75 partner companies represented in the Salesforce cloud analytics platform.
Two of its rivals, Anaplan and Host Analytics, officially joined the Salesforce analytics ecosystem in early April. Likewise, their goal is to better align business planning with real-time corporate performance management.
Anaplan, which boasts Coins2Day 500 customers including Intel, Procter & Gamble and Hewlett-Packard, puts a heavy emphasis on marrying forecasting and performance management functions.
“We think you should be able to do this with the exact same platform,” Anaplan CEO Fred Laluyaux told Coins2Day during a briefing in mid-April. The company likewise is creating preconfigured templates for various scenarios, such as territory planning. Its latest focus, supply chain planning.
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Correction April 22, 2015: This story was updated to reflect that Bogan remains Citrix chairman.