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Workday Adaptive Planning

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Workday Adaptive Planning
Company typepublic
IndustrySoftware, CPM, Analytics
Founded2003
FounderRobert S. Hull, Richard L. Dellinger
Headquarters
Palo Alto, California
,
US
Key people
Tom Bogan, CEO
ProductsCloud-based Enterprise Planning Management (EPM) software solutions, In-memory technology platform, Company-wide business planning, and Built-in analytics
Number of employees
461
ParentWorkday, Inc.
Websitewww.adaptiveplanning.com

Workday Adaptive Planning, formerly Adaptive Insights, is a software as a service company headquartered in Palo Alto, California and founded in 2003. The company's acquisition by Workday, Inc. was completed in August 2018.

History

In 2003, Robert S. Hull and Richard L. Dellinger co-founded Adaptive Planning to market enterprise budgeting, forecasting, and reporting software as an alternative to spreadsheet-based planning or larger, on-premises software. Adaptive Planning was an early user of the software as a service (SaaS) model for business intelligence and corporate performance management. The company was founded in late 2003 and incorporated in Delaware as Visus Technology and then renamed Adaptive Planning. It was incubated at Onset Ventures in Menlo Park, California. In September 2012 the company acquired the Louisville, Colorado based company myDIALS for an undisclosed amount.[1] By October 2013, Adaptive Planning held a fourth round of funding, raising $45 million and added salesforce.com as a backer.[2]

In February 2014, Adaptive Planning was renamed Adaptive Insights and released a new version of the software with an updated user interface.[3]

In January 2015, the company appointed Citrix Chairman Tom Bogan as CEO.[4] In June 2015 the company reported another investment round of $75 million with several investors, including Norwest Venture Partners, ONSET Ventures, Bessemer Venture Partners, Cardinal Venture Capital, Information Venture Partners, and others.[5]

In June 2016, Adaptive Insights appeared in the Leaders Quadrant of a Gartner Strategic CPM report and marked the first time a cloud-only vendor was in the leaders section of the Strategic CPM Magic Quadrant.[6] In 2017, Gartner included only cloud companies in its 2017 Magic Quadrant for Cloud Strategic Corporate Performance Management Solutions report. Adaptive Insights was placed highest in the Leader's quadrant for ability to execute.[7]

In December 2017, the company surpassed $100 million in annualized revenue,[8] an accomplishment that fewer than 1% of software companies achieve.[9] In April 2018, the company announced it added 500 net new customers in fiscal 2018 and currently has more than 3,700 customers worldwide.[10]

In June 2018, Workday agreed to acquire Adaptive Insights for approximately $1.55 billion.[11]

In August 2018, Workday completed the acquisition of Adaptive Insights, announcing that the company would operate as Adaptive Insights, a Workday company.[12]

In May 2020, Adaptive Insights rebranded once again and was renamed Workday Adaptive Planning.[13]

Product

Screenshots of Adaptive Insights for Finance
Screenshots of Adaptive Insights for Finance

Workday Adaptive Planning covers the planning, consolidation, analytics and reporting functions with its Business Planning Cloud.[14]

The company offers Adaptive Insights for Finance, Adaptive Insights for Sales,[15] and Adaptive Insights for Workforce planning[16] as well as the capability to flexibly model virtually any kind of functional use, such as project, capacity and operational planning.

The application is built on an In-memory database, has an in-browser user interface similar to that of a spreadsheet, and the drag-and-drop characteristics of a web-based consumer application. Adaptive Insights automates consolidations and integration of data from other systems and enables collaboration and real-time updates via its on-demand SaaS-based model.[17]

Partners

In 2009, Adaptive Insights partnered with NetSuite, Inc. and currently is a member of the SuiteCloud Developer Network. The company also integrates with other cloud ERP solutions from Sage Intacct, Microsoft, and others.[18]

Adaptive Insights has partners in Australia, Canada, Europe, India, Japan, New Zealand, the UK and the United States.[19]

See also

References

  1. ^ "Adaptive Planning Acquires myDIALS". finance.yahoo.com. Yahoo Finance. 2012-09-10. Retrieved 2017-01-04.
  2. ^ "Venture capital deals".
  3. ^ "Adaptive Planning Gets New Brand - Enterprise Apps Today".
  4. ^ "Citrix chairman joins cloud financials pioneer as CEO". Fortune. Retrieved 2018-04-30.
  5. ^ Lunden, Ingrid (2015-06-30). "Cloud Finance Intelligence Startup Adaptive Insights Gets $75M, Reportedly At A Unicorn Valuation". techcrunch.com. TechCrunch. Retrieved 2017-01-05.
  6. ^ "Adaptive Insights Labeled Leader in Corporate Performance Management". www.adaptiveinsights.com. Retrieved 2018-04-30.
  7. ^ "Adaptive Insights Positioned as a Leader in Magic Quadrant for Cloud Strategic Corporate Performance Management Solutions | Adaptive Insights". www.adaptiveinsights.com. Retrieved 2018-04-30.
  8. ^ "Seasoned Silicon Valley exec leads Adaptive Insights across $100M mar". www.bizjournals.com. Retrieved 2018-04-30.
  9. ^ "Adaptive Insights Surpasses $100M in Annualized Revenue as Cloud Planning Market Expands | Adaptive Insights". www.adaptiveinsights.com. Retrieved 2018-04-30.
  10. ^ "Adaptive Insights announces a stellar year for FY18". Retrieved 2018-04-30.
  11. ^ "Workday Announces Acquisition of Adaptive Insights". GlobeNewswire News Room. Retrieved 2018-06-11.
  12. ^ "Workday Completes Acquisition of Adaptive Insights". GlobeNewswire News Room. Retrieved 2018-11-12.
  13. ^ company, Formulate-A. Kainos. "Adaptive Insights Rebrands as Workday Adaptive Planning". www.formulate.group. Retrieved 2020-07-06. {{cite web}}: |last= has generic name (help)
  14. ^ "Adaptive Insights: Adaptive Insights introduces Business Planning Cloud". Accounting Today. 14 February 2018.
  15. ^ "Adaptive Insights spreads out into business and sales planning - SiliconANGLE". SiliconANGLE. 2018-02-15. Retrieved 2018-04-30.
  16. ^ "Adaptive Insights adds strategic workforce planning to platform". Accounting Today. Retrieved 2018-11-12.
  17. ^ http://www.technologyreview.com/business/26929/?p1=BI,Technology Review by MIT,12/29/10
  18. ^ "Salut Adaptive Insights - Enterprise Times". Enterprise Times. 2018-04-27. Retrieved 2018-04-30.
  19. ^ "Salut Adaptive Insights - Enterprise Times". Enterprise Times. 2018-04-27. Retrieved 2018-04-30.
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