Budgeting, Planning & Forecasting

Budgeting, Planning & Forecasting

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September 28, 2012

The Container Store Unpacks Adaptive Planning to Improve Planning & Forecasting



Adaptive Planning recently announced that The Container Store successfully brought in Adaptive Planning's services in terms of planning expenses and forecasting future sales and costs. The addition of Adaptive Planning's services provides The Container Store with a previously unrealized level of flexibility and efficiency in developing future forecasts.

The Container Store, the United States' leading retailer in storage products as well as organizational products, turned to Adaptive Planning to help them grow beyond their previous system of Excel spreadsheets. This in turn left The Container Store's finance department spending a lot of its time organizing and consolidating their spreadsheets, but thanks to the new approaches from Adaptive Planning, they've got a lot more functionality that they didn't previously.

The Adaptive Planning systems allow them to not only roll-up their plans automatically to provide a larger overall view of the business' processes, but also engage in expense planning activities, conduct monthly forecasting activities, and easily collect budget data, to the point where even data from the general ledger can be imported to provide actual results to compare against forecasts and plans. Since the system runs, at least in part, from a Web-based interface, that makes things even easier overall to work with, as well as access from outside the system for remote workers and other stakeholders and offers a reduced need for hardware to run those systems on premises as well.

Streamlining a system, where possible, generally pays dividends in the form of improved efficiency, which leads commonly to reduced costs. Better yet, having an improved ability to forecast provides bonuses to future planning, which can also reduce costs by helping to prevent waste. It's not surprising that The Container Store wanted to step up its own efficiencies by going to an Adaptive Planning system, because it helps to offer all these things in the confines of one system. Better planning, less waste, and systems that are easier overall to work with add up to a smart idea for businesses looking to improve their finance departments.

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Edited by Rachel Ramsey
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