Founded in 2006, Alliance Health Networks owns and operates a growing portfolio of condition-specific social networks that today connect over 1.5 million registered patients and caregivers with supportive peers, personalized information, and relevant products and services. As its health networks evolved and expanded, the company's Excel-based planning and reporting grew increasingly complex and cumbersome to manage.
"We needed a flexible web-based system to efficiently create a clear budget, feed in the forecast, gain insight into cash flow, and simplify financial reporting," said
"For me, budgeting, forecasting, and cash flow are mission critical, no matter the business. Adaptive enables us to make updates and generate new plans that cascade throughout our financial model with the press of button," said Letendre. With Adaptive, Alliance was also able to set up margin reports to evaluate the overall effectiveness of its pricing model in a much more efficient manner. Alliance also leverages Adaptive to generate clearer monthly reports for board members with the following information included:
•Financial highlights for the month •Budget vs. actuals for the month, quarter, and year •Cash flow •Balance sheet budget vs. actuals •Rolling forecast through the end of the year •Detailed reporting on revenue by line of business and revenue type
"The time it takes to generate reports has decreased dramatically, and we have more accurate information at our fingertips than ever before," said Letendre. "We've been able to leverage Adaptive Planning to make quicker, data-driven decisions which have paid off in improved profit margins."
As Alliance continues to expand its social healthcare group, Letendre is also expanding use of Adaptive Planning throughout the company, to areas such as HR and Sales.
"We have much clearer visibility into the sales pipeline and better insight into payroll and margins by line of business. Adaptive is the one solution I have found that can do more than I ever thought it could do," Letendre explained. "With the success we have had on the financial planning side, we are eager to see how Adaptive Planning can help us in other areas of our business."
"We are thrilled to help Alliance Health Networks improve the company's operational efficiency by providing a pain free solution that enables visibility, collaboration and reporting in a more complete and easy-to-use way," said
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