PALO ALTO, CA, Aug 16, 2016 – Adaptive Insights, the only pure-play cloud vendor to be named a leader in strategic cloud corporate performance management (CPM), today announced it is continuing to scale its business with the addition of new customers and an expanded management team, while at the same time maintaining top ratings in customer satisfaction and ease-of-use—qualities critical to the adoption and deployment of CPM software.
Adaptive Insights has secured customers with recognized names across industries including software as a service (SaaS), manufacturing, nonprofit, and retail. Customers include large, global enterprise organizations, indicating that cloud-based CPM solutions have gone mainstream as financial planning and analysis (FP&A) becomes the critical function to enabling maximum corporate performance. Some of the new customers include First West Credit Union, Fletcher Jones Auto Group, MaxLinear, and New York Mets.
To support its ongoing growth and scale, Adaptive Insights also announced it has expanded its executive management team with the addition of strategic visionary Michael Schmitt in the role of chief marketing officer (CMO). Schmitt joins recent executive appointments Jim Johnson, chief financial officer, and Bhaskar Himatsingka, chief product officer, as part of the company’s leadership expansion plan announced in January.
Schmitt has held executive-level positions at a range of software and financial services companies, including JD Edwards and Ariba. While at JD Edwards, he helped the company grow to over $1 billion annually. He also helped Ariba execute a dramatic turnaround, repositioning the company to become a market leader in spend management.
Most recently Schmitt was CMO of E2open, a provider of cloud-based supply chain management solutions to the enterprise market. During his tenure, E2open nearly doubled its revenue and established its position as the market leader in collaborative planning and execution.
“CPM is being embraced by companies of all sizes as the way forward in strategic finance and business agility, putting Adaptive Insights on a fast growth trajectory,” said Tom Bogan, CEO, Adaptive Insights. “Michael’s track record in executing strategic marketing programs in fast-growing companies will be an invaluable asset to our expanding executive leadership team as we enter this next phase of growth.”
Analyst Firms, Industry Accolades Recognize Adaptive Insights as Cloud CPM Leader
In addition to experiencing rapid and sustained growth, Adaptive Insights continues to be recognized by market analyst firms as a leader in its space.
The company emerged for the first time in the Leaders Quadrant of the Gartner 2016 Magic Quadrant for Strategic CPM Solutions report. This is the first year that a cloud-only vendor has been placed in the Leaders Quadrant of the Gartner Strategic CPM report.*
Other firms to recognize Adaptive Insights include 451 Research, BPM Partners, Dresner Advisory Services, and Nucleus Research. Nucleus Research rated the Adaptive Insights offering #1 in usability, and Dresner Advisory services gave the solution top marks for scalability, ease-of-customization and technical support.BPM Partners placed Adaptive Insights in its Established vendor category—the only pure-play cloud vendor to be placed in the category. Adaptive Insights also received the highest customer satisfaction in that category. Analyst 451 Research has recognized Adaptive Insights for data visualization advances, data integration capabilities, and continued expansion into the enterprise.
“Technology and product momentum have continued for Adaptive Insights, as the company innovates its cloud CPM platform and gains traction with enterprises far and wide,” said Krishna Roy, senior analyst, data platforms and analytics, 451 Research. “The new capabilities delivered by Adaptive Insights’ solutions directly target productivity and visibility for finance teams, enabling those teams to take on a much more strategic role within their organizations.”
Adaptive Insights’ leadership has also been acknowledged for its pioneering achievement in cloud CPM. Founder and Chairman Robert S. Hull was named a finalist for the EY Entrepreneur Of The Year® 2016 Award in the Northern California Region. He also received a 2016 Stratus Award for Cloud Innovator of the Year by Business Intelligence Group.