What do you like best?
The tool itself is very quick with updating and there are many features that allow you to check your work along the way (sheets, formula validation, etc.) I also like the ability to version control,; by creating new versions during crucial parts of the budget process, it allows us to reference prior submissions and be more smart about finding variances between what we are submitting and what we submitted.
What do you dislike?
The planning tools are poor and are difficult to effectively utilize without the ability to upload data. Planning also seems very counter-productive in Adaptive since it requires you to view the income statement of the smallest department in every single hierarchy. By requiring that, it essentially precludes the user from doing a top-down forecasting approach, which a lot of start-up companies end up doing. Additionally, Office Connect has an abysmal time integrating with Excel, and often slows down or crashes the program entirely. I think it would behoove Adaptive to try and emulate what Hyperion is doing with their Microsoft Excel add-in.
Recommendations to others considering the product
One of the worst parts about Adaptive is the integration between Adaptive and Excel. Since most companies operate primarily within Excel, it is difficult to get many tasks done seamlessly without having some manual intervention between exporting out of Adaptive and into Excel.
What business problems are you solving with the product? What benefits have you realized?
- Automated reporting
- Department heads are inputting their own budgets
- Accountability across departments
- Quick and easy month close variance analysis