The Container Store® Selects Adaptive Planning For Streamlined Financial Management

MOUNTAIN VIEW, CA--(Marketwire - Sep 26, 2012) - Adaptive Planning, the worldwide leader in cloud-based corporate performance management (CPM) solutions for companies and nonprofits of all sizes, today announced that The Container Store, the nation's originator and leading retailer of storage and organization products, has successfully implemented Adaptive Planning to improve its expense planning and forecasting processes.

As The Container Store evaluated its current technology infrastructure, the company identified the need to automate its expense planning and forecasting processes. After carefully evaluating traditional on-premise software solutions, The Container Store realized that Adaptive Planning's cloud-based solution could offer equivalent functionality at a fraction of the cost. Now with Adaptive Planning, The Container Store can roll-up plans automatically, conduct expense planning and produce monthly forecasts much more easily than with their previous Excel-based approach.

"Adaptive Planning has saved our team a considerable amount of time which was previously spent consolidating spreadsheets," said Michael Lambeth, Director of Finance. "Now we have real-time consolidation where all of our plans roll-up to a single view of the business." 

"We also have the ability to easily collect budget data from operational stakeholders through a web-based interface. Adaptive Planning is very user-friendly and has streamlined the expense planning process for our team," confirms Lambeth. "We now can compare actual results to plan by importing data from my general ledger into Adaptive Planning."

"We are pleased that we have been able to help The Container Store replace its spreadsheet-based process with a truly robust expense planning, forecasting, and reporting solution," said Greg Schneider, VP Marketing, Adaptive Planning. "One of the benefits of using Adaptive Planning is reducing the manual effort spent on the planning process, so our customers can focus their efforts on improved forecasting, what-if analysis and reporting."

About The Container Store

Visit containerstore.com for more information about store locations, the product collection and services offered. The Container Store's employee-first culture has landed the retailer on FORTUNE magazine's annual list of the "100 Best Companies to Work For" for the past 13 years. Sales for fiscal year 2012 are expected to exceed $700 million. The Container Store is privately held.

About Adaptive Planning

Adaptive Planning is the worldwide leader in cloud-based corporate performance management (CPM) solutions for companies and nonprofits of all sizes. The company's software as a service (SaaS) platform allows finance and management teams to work together to plan, monitor, report on, and analyze financial and operational performance. With capabilities for budgeting, forecasting, reporting, consolidation, dashboards, and business intelligence, Adaptive Planning enables finance, sales, and other business leaders to make better, faster, more collaborative decisions that drive a true competitive advantage.

Adaptive Planning is used by over 1,400 organizations worldwide, from midsized companies and nonprofits to large corporations, including AAA, Boston Scientific, CORT, Konica Minolta, NetSuite, Philips, and Vail Resorts. The company is the 8th fastest growing company in Silicon Valley on the Deloitte Technology Fast 500™ list; has the #1 brand in midmarket CPM; and ranks #1 in customer satisfaction in independent industry surveys. With customers and partners in 65 countries worldwide, the company has the strongest channel ecosystem in the cloud CPM space, including over 200 worldwide partners such as Armanino McKenna, Intacct, IntuitiveTek, Plex Systems, SAP, and NetSuite, which offers a specialized version of Adaptive Planning as the NetSuite Financial Planning module. Adaptive Planning is headquartered in Mountain View, Calif. and is funded by Norwest Venture Partners (NVP), Royal Bank of Canada (RBC), ONSET Ventures, Monitor Ventures, and Cardinal Venture Capital.