Time is of the essence and financial firms know it

Time is of the essence and financial firms know it

Time is of the essence and financial firms know it AGF Management Limited has managed to save a lot of time when it comes to analyzing company information after becoming the latest financial firm to implement an Adaptive Insights product.

Adaptive Insights, a California based software company, produces programs that help companies monitor their business performance by using a cloud-based technology.  Calling themselves a ‘pioneer in cloud corporate performance management,’ the company is now servicing over 125 companies of all sizes providing them with a business intelligence platform that can analyze progress.
 
AGF is integrating the Adaptive Planning and Adaptive Discovery suites so they, as wealth professionals, can monitor their own financial performance and gain better insight into the company’s progress.
 
They say that by using the software they are saving a significant amount of time, which means they are able to spend more of their time offering a better quality of service to clients.
 
"In addition to cutting one full week out of the budgeting process, we're saving at least two days each month in FP&A work and can tell the story of what's happening with the business across all dimensions much sooner than before with Adaptive Insights," said Jenny Quinn, vice president of finance and controller at AGF.
 
Such software is becoming increasingly popular as reports reveal that the amount of data companies will need to analyze and keep track of will increase over the coming years. The recent CFO Indicator Q3 2015 report cited that nearly a third of CFOs are expecting a 26-50% increase in the amount of data their teams will have to manage over the next five years. More than a third saw this exceeding over 50%.

AGF currently has $33b in assets and so the size of their company requires a more substantive information system.