-- A majority of respondents say the U.S. economy will not begin to
recover for at least a year, with 27 percent expecting recovery in 2010 or
beyond
-- 57 percent came in below their revenue plans last quarter
-- 47 percent expect revenues to decrease over the next six months
-- 44 percent plan to decrease capital spending and 43 percent will
reduce headcount
-- Nearly 50 percent expect margin erosion
-- Only 1/3 express confidence in hitting their financial plans in the
next year
-- 86% re-planned or re-forecast last quarter, with nearly half doing so
two or more times
-- Over 50% expect they will need to re-plan or analyze "what-if"
scenarios more frequently over the next six months
-- Yet over 50% of midsized and large companies (over $10 million in
revenues) say it is difficult or very difficult to create timely and
accurate plans and "what-if" analyses
"These survey results show that financial professionals are facing a level
of economic uncertainty that is unprecedented in recent times," said
William A. Soward, CEO of Adaptive Planning. "In today's unpredictable
environment, it's not enough to have a single plan of record -- companies
need to plan for multiple potential scenarios. While challenging, the
companies that are prepared to quickly and appropriately respond to
real-time information, across a variety of outcomes, will be best equipped
to survive the downturn and prosper when the economy rebounds."
The results of the Planning and Performance Index come on the heels of a
recently announced Recession Survival Kit released by Adaptive Planning to
help finance and executive teams quickly and successfully gain control over
their financial outlook, evaluate strategic and tactical actions and their
overall cash impact, and reset financial plans to deal with economic
volatility and a potential global recession.
The Planning and Performance poll will be conducted once per quarter and
the results tallied against those of previous quarters to identify trends
in overall economic conditions and planning practices. For more information
on the summary report of the findings, visit
http://marketing.adaptiveplanning.com/forms/ppindex.
About Adaptive Planning
Adaptive Planning is the worldwide leader in on-demand planning and
reporting solutions that streamline financial processes, strengthen
collaboration, and drive better-informed, more strategic business decisions
in companies of all sizes. Adaptive Planning makes it easy to move beyond
spreadsheets and automate budgeting, forecasting, and reporting, without
the cost and complexity associated with traditional business intelligence
and BPM software. With free software, free trials, and both on-demand and
on-premise deployment options, Adaptive Planning provides the fastest and
easiest approach to streamline and elevate your financial management.
Adaptive Planning is headquartered in Mountain View, Calif. and can be
reached at 650-528-7500 or www.adaptiveplanning.com.
About the BPM Forum
The Business Performance Management (BPM) Forum is dedicated to advancing
performance accountability, process improvement, operational visibility and
compliance in global organizations. It provides support to thousands of
senior executives and practitioners representing enterprises with more than
$500 billion in combined annual revenues. The BPM Forum's C-level members
engage in research, thought leadership, and knowledge exchange programs
around a variety of strategic issues and challenges. More information is
available at: www.BPMForum.org.
Contact Information: Media Contacts: Derek Kober GlobalFluency 650-433-4233 Greg Schneider Adaptive Planning 650-810-0525