|By Marketwired .||
|December 5, 2012 08:00 AM EST||
MOUNTAIN VIEW, CA -- (Marketwire) -- 12/05/12 -- Adaptive Planning, the worldwide leader in cloud-based corporate performance management (CPM) solutions for companies and nonprofits of all sizes, today announced that NorthStar Financial Services Group, LLC ("NorthStar"), a holding company for several subsidiaries that offer unique services including professional money management, integrated technology applications, and compliance with state and federal regulations, and manage more than $80 billion in financial assets, selected Adaptive Planning to improve their reporting capabilities and management of their business.
NorthStar faced numerous data integrity issues with its previous budgeting and planning system, and experienced difficulty running reports and comparing actuals to plan. The company would import actual financial data from their general ledger and HR data from their HR system, but had trouble managing a comprehensive view of the financial picture of the organization. After evaluating a number of solutions, Adaptive Planning rose to the top due to its robust reporting features, easy-to-use interface, and rich workflow capabilities. In addition, because the solution is hosted, NorthStar does not need to rely on its IT group to manage the system.
"We needed a better reporting tool to improve our management of the business," explains Andrew Rosenberg, Financial Analyst for NorthStar. "Since we manage a complex set of companies, each with their own unique service offering, customers, and assets under management, it was important that we find a solution that could allow us to better track, measure, and optimize our organizational budget. We liked the Adaptive Planning solution because it is easy to use and we could pre-define formulas and customize the model to match our business requirements."
The implementation process went smoothly, and NorthStar achieved an immediate return on investment from its purchase of Adaptive Planning by reducing the time spent consolidating data during the budget process. Today, NorthStar conducts capital planning using Adaptive Planning. In addition, NorthStar runs quarterly reforecasts across four versions of the 12 month plan. Finally, it relies on Adaptive Planning for all of the financial reporting in the company.
"Everyone is really happy with Adaptive Planning," confirms Rosenberg. "Our staff can log-in from wherever they want because it is web-based. Now people are logging into Adaptive Planning frequently because it is easier to make changes. The ability to drill-through into a cell gives people the background detail they need. And the ability to run real-time reports and trust the data is a huge benefit for our organization."
"NorthStar is a great example of a customer who was up and running with minimal support," said Greg Schneider, VP Marketing, Adaptive Planning. "The ability to quickly implement Adaptive Planning and achieve immediate return on investment is a testament to the value our customers are getting relative to time-consuming and costly alternatives."
About NorthStar Financial Services Group, LLC
Established in 2003, NorthStar is a holding company for several subsidiaries that administer and manage more than $80 billion in financial assets. Each company offers unique services within the financial industry -- including professional money management, integrated technology applications, and compliance with state and federal regulations. Together, this synergy helps investment advisors enhance their service to clients, increase their operational efficiencies, and expand their business. As the parent company, NorthStar provides accounting, human resources, marketing, legal, IT, and sales leadership for all its subsidiaries. The NorthStar companies employ more than 450 individuals. They operate the following subsidiaries including CLS Investments, LLC, Gemcom, LLC, Gemini Fund Services, LLC, Northern Lights Compliance Services, LLC, Northern Lights Distributors, LLC, and Orion Advisor Services, LLC. They also operate an affiliate, Constellation Trust Company, and a division, Advisor Studios.
About Adaptive Planning
Adaptive Planning is the worldwide leader in cloud-based corporate performance management (CPM) solutions for companies and nonprofits of all sizes. The company's software as a service (SaaS) platform allows finance and management teams to work together to plan, monitor, report on, and analyze financial and operational performance. With capabilities for budgeting, forecasting, reporting, consolidation, dashboards, and business intelligence, Adaptive Planning enables finance, sales, and other business leaders to make better, faster, more collaborative decisions that drive a true competitive advantage.
Adaptive Planning is used by over 1,400 organizations worldwide, from midsized companies and nonprofits to large corporations, including AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Vail Resorts. The company is the 8th fastest growing company in Silicon Valley on the Deloitte Technology Fast 500 list; has the #1 brand in midmarket CPM; and ranks #1 in customer satisfaction in independent industry surveys. With customers and partners in 65 countries worldwide, the company has the strongest channel ecosystem in the cloud CPM space, with over 300 worldwide partners including Armanino McKenna, Intacct, IntuitiveTek, Plex Systems, SAP, and NetSuite, which offers a specialized version of Adaptive Planning as the NetSuite Financial Planning module. Adaptive Planning is headquartered in Mountain View, Calif. and is funded by Norwest Venture Partners (NVP), Royal Bank of Canada (RBC), ONSET Ventures, Monitor Ventures, and Cardinal Venture Capital.
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