Pep Boys Implements Adaptive Planning's On-Demand Budgeting and Reporting Solution
March 30 2010 - 8:00AM
Marketwired
Adaptive Planning, the worldwide leader in on-demand financial
planning and reporting solutions, today announced that The Pep Boys
-- Manny, Moe & Jack (NYSE: PBY), the nation's leading
automotive aftermarket service and retail chain, has implemented
Adaptive Planning's solution for managing the budgeting process
across multiple divisions and 580 stores.
"We are delighted to partner with Pep Boys to provide financial
planning and reporting solutions," said William A. Soward, Adaptive
Planning's CEO. "As a service suite, our software is designed to
help companies of all sizes more easily and quickly compare actuals
to plan, conduct 'what-if' analyses, make strategic decisions and
take action. We are pleased to have been able to deploy a complete
budgeting and reporting solution that supports Pep Boys' extensive
network of stores -- and in just six weeks."
Some other benefits of the Adaptive Planning solution
include:
- Better access to information, improving Pep Boys' ability to
adjust to shifting consumer spending trends
- Flexible modeling environment that supported the creation of
sophisticated driver-based financial models
- Intuitive interface that allowed non-technical users to be
trained quickly and remotely
- Rapid implementation and training times enabled an immediate
impact on the business
- Significant savings in license fees and IT costs compared to
on-premise alternatives resulted in greater cost effectiveness
- Access to online training and Adaptive Planning's team of
financial planning experts, together with a "no IT required"
solution, allowed Pep Boys to go live without pulling IT or finance
resources off other important projects
"With Adaptive Planning, we were able to save approximately 600
man hours in the first budgeting cycle alone, which allowed our
team to spend more time on high-value analysis rather than
lower-value process management," said Phil McAllister, director of
budgeting and internal reporting for Pep Boys. "We've had
exceptional buy-in from our users because we were able to keep our
familiar templates while improving the distribution, collection and
analysis processes. This overall approach results in greater
accuracy, improved ownership and accountability throughout the
organization and a more strategic financial management
process."
Since switching over to Adaptive Planning, Pep Boys received the
BeyeNETWORK 2009 Vision Award for Business Impact in the
software-as-a-service business intelligence category and a finalist
designation in the Ventana Research Leadership awards category.
About Pep Boys Pep Boys has approximately
6,000 service bays within over 580 retail stores located in 35
states and Puerto Rico. Along with its full-service vehicle
maintenance and repair capabilities, the Company also serves the
commercial auto parts delivery market and is one of the leading
sellers of replacement tires in the United States. Customers can
find the nearest location by calling 1-800-PEP-BOYS or by visiting
http://www.pepboys.com
About Adaptive Planning Adaptive Planning
is the worldwide leader in on-demand financial planning and
reporting solutions that increase efficiencies and drive agile
decision making in midsized companies and divisions of
corporations. 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
streamlining and elevating your financial management. Adaptive
Planning is headquartered in Mountain View, Calif. and can be
reached at 650-528-7500 or www.adaptiveplanning.com.
Media Contacts: Derek Kober GlobalFluency 650-433-4233 Email
Contact Greg Schneider Adaptive Planning 650-810-0525 Email
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