Knowledge Universe, an education provider, has moved from Excel-based budgeting and has implemented the Adaptive Planning solution at its Singapore headquarters and across its other global offices. Around 300 users will benefit from the optimized planning, forecasting and reporting processes.
Adaptive Planning is a specialist in cloud-based corporate performance management (CPM) solutions which serve the needs of companies and not-for-profits of all sizes.
Reg Singh, global CFO at Knowledge Universe said, “After implementing an Oracle (News - Alert) solution in our Singapore business, we decided the investment needed for a wider roll-out was cost prohibitive.”
Knowledge Universe has over 3,000 education centers and schools functioning under its wings around the world. It employs more than 30,000 educators and education professionals. These large numbers made it difficult for the finance team to manage the budget process across its network.
As the financial team was using spreadsheets to collect budget data, it had to consolidate hundreds of spreadsheets into a single view making it a time consuming process.
“We now use NetSuite’s (News - Alert) OneWorld platform for accounting and CRM and learned about its integration with Adaptive Planning. Adaptive Planning stood out for its ease of use and strong forecasting and reporting capabilities,” added Singh.
It also enables automation and provides a richer budgeting environment allowing for planning and strategizing in order to provide a thought-driven budget to the organization. It also helps deliver management reporting in the organization.
John Herr, CEO, Adaptive Planning said, “Adaptive Planning is proud to support the world-class education innovation that Knowledge Universe represents; it has eliminated a lot of manual effort for the finance team and delivered improved consolidation and enhanced visibility to the organization, enabling better collaboration and a more comprehensive budgeting process.”
In related news, Adaptive Planning announced that the American Academy of Pediatrics (AAP), an organization of 60,000 primary care pediatricians, pediatric medical subspecialists and pediatric surgical specialists, implemented Adaptive Planning to replace an outdated legacy system and automate forecasting.
Edited by Brooke Neuman