Workday Adaptive Planning, formerly Adaptive Insights, is a

software as a service Software as a service (SaaS ) is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as "on-demand software" and Web-based/Web-hosted software. SaaS is con ...

company headquartered in

Palo Alto, California Palo Alto (; Spanish language, Spanish for "tall stick") is a charter city in the northwestern corner of Santa Clara County, California, United States, in the San Francisco Bay Area, named after a Sequoia sempervirens, coastal redwood tree kno ...

and founded in 2003. The company's acquisition by

Workday, Inc. Workday, Inc., is an American on‑demand (cloud-based) financial management, human capital management and Student information system software vendor. Workday was founded by David Duffield, founder and former CEO of ERP company PeopleSoft, al ...

was completed in August 2018.

History

In 2003, Robert S. Hull and Richard L. Dellinger co-founded Adaptive Planning to market enterprise budgeting, forecasting, and reporting software as an alternative to

spreadsheet A spreadsheet is a computer application for computation, organization, analysis and storage of data in tabular form. Spreadsheets were developed as computerized analogs of paper accounting worksheets. The program operates on data entered in cel ...

-based planning or larger,

on-premises software On-premises software (abbreviated to on-prem, and incorrectly referred to as on-premise) is installed and runs on computers on the premises of the person or organization using the software, rather than at a remote facility such as a server farm ...

. Adaptive Planning was an early user of the

(SaaS) model for

business intelligence Business intelligence (BI) comprises the strategies and technologies used by enterprises for the data analysis and management of business information. Common functions of business intelligence technologies include reporting, online analytical pr ...

and corporate performance management. The company was founded in late 2003 and incorporated in

Delaware Delaware ( ) is a state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacent Del ...

as Visus Technology and then renamed Adaptive Planning. It was incubated at Onset Ventures in

Menlo Park, California Menlo Park is a city at the eastern edge of San Mateo County within the San Francisco Bay Area of California in the United States. It is bordered by San Francisco Bay on the north and east; East Palo Alto, Palo Alto, and Stanford to the south; ...

. In September 2012 the company acquired the

Louisville, Colorado The City of Louisville () is a home rule municipality located in southeastern Boulder County, Colorado, United States. The city population was 21,226 at the 2020 United States Census. Louisville began as a mining community in 1877, experienced a ...

based company ' for an undisclosed amount. By October 2013, Adaptive Planning held a fourth round of funding, raising $45 million and added

salesforce.com Salesforce, Inc. is an American cloud-based software company headquartered in San Francisco, California. It provides customer relationship management (CRM) software and applications focused on sales, customer service, marketing automation, an ...

as a backer. In February 2014, Adaptive Planning was renamed Adaptive Insights and released a new version of the software with an updated user interface. In January 2015, the company appointed Citrix Chairman Tom Bogan as CEO. In June 2015 the company reported another investment round of $75 million with several investors, including

Norwest Venture Partners Norwest Venture Partners (Norwest) is an American venture and growth equity investment firm. The firm targets early to late-stage venture and growth equity investments across several sectors, including cloud computing and information technology, ...

, ONSET Ventures,

Bessemer Venture Partners Bessemer Venture Partners (Bessemer) is an American venture capital firm. The firm has over $19 billion under management and invests globally, with offices in San Francisco, Redwood City, New York City, Boston, Israel, India, and London. Bessemer ...

, Cardinal Venture Capital, Information Venture Partners, and others. In June 2016, Adaptive Insights appeared in the Leaders Quadrant of a Gartner Strategic CPM report and marked the first time a cloud-only vendor was in the leaders section of the Strategic CPM Magic Quadrant. In 2017, Gartner included only cloud companies in its 2017

Magic Quadrant Magic Quadrant (MQ) is a series of market research reports published by IT consulting firm Gartner that rely on proprietary qualitative data analysis methods to demonstrate market trends, such as direction, maturity and participants. Their anal ...

for Cloud Strategic Corporate Performance Management Solutions report. Adaptive Insights was placed highest in the Leader's quadrant for ability to execute. In December 2017, the company surpassed $100 million in annualized revenue, an accomplishment that fewer than 1% of software companies achieve. In April 2018, the company announced it added 500 net new customers in fiscal 2018 and currently has more than 3,700 customers worldwide. In June 2018, Workday agreed to acquire Adaptive Insights for approximately $1.55 billion. In August 2018, Workday completed the acquisition of Adaptive Insights, announcing that the company would operate as Adaptive Insights, a Workday company. In May 2020, Adaptive Insights rebranded once again and was renamed Workday Adaptive Planning.

Product

Workday Adaptive Planning covers the planning, consolidation, analytics and reporting functions with its Business Planning Cloud. The company offers Adaptive Insights for Finance, Adaptive Insights for Sales, and Adaptive Insights for Workforce planning as well as the capability to flexibly model virtually any kind of functional use, such as project, capacity and operational planning. The application is built on an

In-memory database An in-memory database (IMDB, or main memory database system (MMDB) or memory resident database) is a database management system that primarily relies on main memory for computer data storage. It is contrasted with database management systems that e ...

, has an in-browser

user interface In the industrial design field of human–computer interaction, a user interface (UI) is the space where interactions between humans and machines occur. The goal of this interaction is to allow effective operation and control of the machine f ...

similar to that of a spreadsheet, and the

drag-and-drop In computer graphical user interfaces, drag and drop is a pointing device gesture in which the user selects a virtual object by "grabbing" it and dragging it to a different location or onto another virtual object. In general, it can be used to ...

characteristics of a web-based consumer application. Adaptive Insights automates consolidations and integration of data from other systems and enables collaboration and real-time updates via its on-demand SaaS-based model.

Partners

In 2009, Adaptive Insights partnered with NetSuite, Inc. and currently is a member of the SuiteCloud Developer Network. The company also integrates with other cloud ERP solutions from

Sage Intacct Sage Intacct, Inc is an American provider of cloud-based Financial management and services available in five regions around the globe -- including the United States, Canada, the UK, Australia, and South Africa. Its products offer cloud-based ac ...

, Microsoft, and others. Adaptive Insights has partners in

Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

Japan Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the north ...

New Zealand New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island count ...

, the UK and the United States.

References

{{Reflist Software companies based in California Companies based in Palo Alto, California Software companies established in 2003 2003 establishments in California Organizational performance management Business intelligence companies 2018 mergers and acquisitions Defunct software companies of the United States

History

Product

Partners

See also

References