Adaptive Insights and OPEXEngine announced an agreement that underscores the companies’ joint commitment to providing best-in-class benchmarking data to software-as-a-service (SaaS) and software companies. AdaptiveInsights, the leader in strategic corporate performance management (CPM), and OPEXEngine, the principal independent benchmarking platform for software and SaaS companies, can now better serve their mutual customers’ needs. Under terms of the agreement, Adaptive Insights will resell OPEXEngine’s BenchmarkEngine™ as part of its Software Planning & Analytics Solution.
Adaptive Insights combines benchmarking from OPEXEngine, along with best-practice models and KPIs, with its Adaptive Suite integrated planning and analytics platform. The resulting Software Planning & Analytics Solution enables Adaptive Insights’ SaaS and software customers to leverage data from 400 GAAP and Non-GAAP benchmarks. Integrated into the planning and dashboard capabilities of the Adaptive Suite, OPEXEngine benchmarks provide guidance for companies mapping their growth strategies and setting targets, as well as course-correcting using industry-leading metrics as guideposts.
“Having announced the Adaptive Insights Software Planning & Analytics Solution at our recent user conference, Adaptive Live, we were able to engage directly with customers in standing-room only sessions dedicated to benchmarking and software,” said Tom Bogan, CEO of Adaptive Insights. “Expanding our collaboration with OPEXEngine, today’s announcement enables our joint customers to purchase the entire solution directly from Adaptive Insights.”
Finance teams increasingly rely on benchmarking for comparisons of how like-companies perform relative to key SaaS metrics, such as CAC, retention, sales productivity, etc. This view was validated in a recent CFO survey, where 63% of CFOs indicated that their board of directors or CEO measure performance against benchmarking data.
“Benchmarking gives CFOs the data to see if their key SaaS metrics are on target with peers and leadership companies, make course corrections, and improve company value,” said Lauren Kelley, CEO of OPEXEngine. “They can dig into the benchmarks and see where operating departments, like sales, are good, great, or average compared to peers and make necessary changes to improve results. We look forward to partnering with Adaptive Insights to expand the reach of our BenchmarkEngine.”
Comprehensive Solution to Model, Monitor, Report, Analyze, and Benchmark
Adaptive Insights’ 400+ software customers drive increased data and benchmark aggregates into the OPEXEngine BenchmarkEngine™. The anonymized data combines with OPEXEngine’s extensive public and private software and SaaS vendor benchmark data, enabling Adaptive Insights to offer customers to access the most comprehensive benchmarks available for SaaS and software companies.
“We are thrilled to see Adaptive Insights incorporate the OPEXEngine SaaS benchmarks in their new SaaS solution,” said Ken Goldman, SVP & CFO of Everbridge, Inc. a global SaaS-based company that provides critical event management and enterprise safety applications to help keep people safe and businesses running. “As an Adaptive Insights user and fast-growth SaaS company, we use the OPEXEngine benchmarks to manage top-line growth and bottom-line efficiency. OPEXEngine’s comprehensive benchmark comparisons for a wide range of SaaS business models help us continually plan and fine-tune our growth. Nothing else like it exists.”
To learn more about benchmarking for SaaS companies, read the blog “How Today’s Successful SaaS Companies Use Benchmarks.”
SaaS Benchmarking Platform: Data, Content & Community
OPEXEngine is an independent, 3rd party provider of benchmarking data, content and community. Its benchmarks help hundreds of software and SaaS companies plan better, manage operating risks and improve performance. It has informed leading public vendors, pre-IPO growth companies and early stage companies, as well as major venture and private equity investors to better manage and grow their companies. OPEXEngine’s paid subscription service is confidential and proprietary.
OPEXEngine’s management knows what it is like to make important operating decisions in a dynamic environment and has built that operational experience into the BenchmarkEngine™ platform. OPEXEngine’s benchmarking delivers actionable information to company management for decision-making and communication about performance and targets.
About Adaptive Insights
Adaptive Insights is the recognized leader in cloud corporate performance management (CPM). The company’s Adaptive Suite enables companies of all sizes to collaboratively plan and model, easily access real-time analytics, streamline complex financial reporting, and accelerate financial consolidation. With this best-practice active planning process, Adaptive Insights differentiates with easy, powerful, and fast software that empowers more than 3,300 customers in over 50 countries to drive business success.
Adaptive Insights is a privately held company with headquarters in Palo Alto, CA. To learn more, visit adaptiveinsights.com.