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2016 Adaptive Insights Torchie Award Winners

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The Torchie Awards reveal the stories of finance teams who are using cloud-based corporate performance management (CPM) software to pioneer new forms of finance transformation.
These awards were presented at Adaptive Insights' annual user conference Adaptive Live held in April 2016.

Published in: Business
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2016 Adaptive Insights Torchie Award Winners

  1. 1. 1 1 Adaptive Live 2016 Torchie Awards Winners
  2. 2. 2 2 The Torchie Awards reveal the stories of finance teams who are using cloud-based corporate performance management (CPM) software to pioneer new forms of finance transformation. They demonstrate finance operating as strategic partners to the business. They reflect finance empowering their organizations to be agile. And they reveal the power of quickly garnering insights to make effective, data-driven decisions that drive competitive advantage.
  3. 3. 3 3 5 Winners of Finance Transformation The customer award winners reflect excellence in planning, collaboration, forecasting, operational planning, and performance management.
  4. 4. 4 4 Excellence in Planning Creates best-in-class accessories that protect and enhance mobile devices for consumers around the globe. Publicly traded with revenues over $250M InvisibleShield is the #1 selling screen protection
  5. 5. 5 5 Inaccurate demand forecasting impacted profit margins, frequently incurring large freight expenses for priority shipping from China Two years ago, there wasn’t a data-driven process in place for forecasting, and the company missed its sales forecast by 33% Challenge
  6. 6. 6 6 Enabled flexible management reporting: Production and shipping now closely tied to demand and sales forecasts, reducing shipping costs, and improving the bottom line Built dashboards for the executive staff and sales and product managers to track core KPIs on a daily basis Reduced costs: In first year of forecasting, reduced freight costs by $8 million by improving demand forecasts $
  7. 7. 7 7 By understanding product demand at SKU level, better decision-making on product pricing and promotions improved the overall product portfolio profit margins by nearly 5%. Outcome
  8. 8. 8 8 Excellence in Forecasting The largest grower and producer of olive oil in the United States. Growing olives using time-honored farming techniques while embracing modern technology. Revenues over $100M Apps chart the history of each orchard
  9. 9. 9 9 Needed a new solution to optimize pricing and distribution model within the constraints of a single olive harvest Company had been growing rapidly in a competitive market and needed to move out of Excel to improve pricing and distribution optimization Challenge
  10. 10. 10 10 Implemented multi-dimensional forecasting using Adaptive cube sheets: increased visibility for units sold through cogs to net profit on a product SKU and customer basis Launched detailed rolling forecasts, maintained and updated monthly by sales and operational teams Created dashboards for every sales representative to see their own sales trends by product, by channel, and by end customer
  11. 11. 11 11 Emerged with a five-year plan that supports modeling scenarios on capital investments, hiring plans, and potential acquisitions. Outcome
  12. 12. 12 12 Excellence in Operational Planning Provides innovative video job interview technologies combined with recruitment screening and evaluation tools for employers. Helps companies hire 17% faster Cuts recruiting costs by 44%
  13. 13. 13 13 Finance team set out to transform its sales planning process Company needed a better way to manage its rapid growth and improve top line forecasting Challenge
  14. 14. 14 14 Created a sales rep- based, bottoms up sales planning model Provided CFO with rapid access to metrics Implemented monthly, rolling forecast model—leading to more accurate bookings forecast: bookings forecast variances reduced from 20% to 2%
  15. 15. 15 15 Using their new driver-based sales model, the finance and sales teams are able to collaboratively perform scenario analysis based on various sales team growth and productivity assumption drivers. Outcome
  16. 16. 16 16 Excellence in Business Partnering and Collaborative Planning The largest voluntary health organization dedicated to funding research, finding cures, and ensuring access to treatments for blood cancer patients. 900 employees Across 54 chapters in North America
  17. 17. 17 17 Planning process was long, not very collaborative, and reporting minimal Finance generally viewed as tracking historical transactions Challenge
  18. 18. 18 18 Deployed solution to 400+ managers and employees (nearly half of employee base), enabling cross-functional corporate performance management Raised transparency for operational metrics (chapter-level cash flow, campaign-specific returns, donor contributions) Introduced monthly rolling forecast process at chapter level to closely monitor cash flow
  19. 19. 19 19 Longer-term plans were created, with workforce plans to anticipate organizational structure changes, assess cash flow, and evaluate strategic opportunities Outcome
  20. 20. 20 20 Excellence in Performance Management Exclusive radio broadcast partner to leading sports and entertainment brands including the NFL, Olympics, Grammys, and Country Music Awards. Reaches 245M people each week 454 owned-and-operated stations across 90 U.S. media markets
  21. 21. 21 21 A growing need to decentralize planning and reporting to put more control and responsibility out to the general managers in 90 markets Reporting was cumbersome, Excel planning processes were not scaling, and the majority of reporting had to be delivered out to market managers via email Challenge
  22. 22. 22 22 Automated and decentralized the annual budgeting process Implemented self-service drag-and-drop reporting that brought information into the hands of business managers in seconds, not days Created browser- based access to real-time information— creating ownership Allowed each market to update their forecast every Friday; programming investments are then driven based on forecasts
  23. 23. 23 23 Senior management can now easily monitor market performance across 90 markets—reallocating programming dollars to markets that are most profitable and reducing spend in lower performing markets. Outcome
  24. 24. 24 24 We know there are many inspiring customer stories within organizations that are embracing Adaptive Insights. We want to hear your story! And we encourage all customers to join our Torchbearers Community, where you can access learning materials and best-practice resources, and knowledge share among peers. Share Your Story of Finance Transformation
  25. 25. 25 25 For more stories of Adaptive Insights transforming teams, companies, and industries, check out www.adaptiveinsights.com/customer-stories and follow Adaptive Insights via blog, LinkedIn, Twitter, and Facebook

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