Cloud-based business analytics company Adaptive Planning has released an integrated cloud-based product for comprehensive close-and-disclose financial consolidations and analysis, as well as enhancements to its Adaptive Planning and Adaptive Discovery applications.
The new product, Adaptive Consolidation, was designed for finance and management teams to automate budgeting, forecasting, reporting, consolidations, and data visualization. Users can automate the import data that needs to be consolidated, as well as calculations for intercompany eliminations, minority interest, allocations, currency exchange and cumulative translation adjustment.
Adaptive Consolidation also offers Process Tracker, which provides ways to define and monitor one-time and repeating processes. Users can define specific deliverables, assign them to users, monitor their status, and track their closure. The Adaptive Process Tracker is not limited to just the close process, but is broadly applicable to the other areas of CPM including budgeting, planning, and forecasting.
“Adaptive Planning continues to be pulled up market into large enterprises and global deals,” said Adaptive Planning chief executive John Herr. “As such, our customers are increasingly facing complex business scenarios that require the robust consolidation features that our new product offers. Adaptive Consolidation is an ideal product to meet the demands of enterprise and international customers that are dealing with multiple currencies and business divisions.”
A number of new features included in Adaptive Consolidation are also available as enhancements to Adaptive Planning for budgeting, forecasting, reporting, and analysis including a new Allocation Manager, enhanced currency support and new options for managing versions.
The new Allocation Manager is designed to streamline the process of reassigning values from one part of an organization to others. It has a new interface designed to facilitate the creation of balanced allocations based on source and target departments and accounts, and an allocation method.
The new release also delivers numerous usability advancements for Adaptive Discovery administrators and end users, including enhancements to make it easier than ever to create dials to compare versions and a new Table Settings Editor to configure the display of table dials.
The enhancements to Adaptive Planning and the Adaptive Consolidation are both currently available, with certain features to be delivered in June.
