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CohnReznick LLP and Adaptive Insights Team up to Offer Technology-based Financial Consulting Services around Budgeting, Planning and Forecasting


ROSELAND, NJ — CohnReznick LLP, the 10th largest accounting, tax, and advisory firm in the United States, and Adaptive Insights, a leader in cloud-based corporate-performance-management solutions, are teaming up to offer technology-based consulting services designed to enhance clients’ budgeting, forecasting and reporting capabilities.

The companies entered into an agreement through which CohnReznick will leverage Adaptive Insight’s cloud-based development tools in order to help clients automate and improve their processes for budgeting, planning and forecasting.

“We are enthusiastic about our new agreement with CohnReznick and the value it will provide our joint customer base,” said Carolee Gearhart, Vice President, Global Channels & International Sales, Adaptive Insights. “Our worldwide partner ecosystem plays a vital role in our company’s rapid growth. CohnReznick stands out for its commitment to helping clients identify and implement effective solutions that optimize profitability and growth and improve workflow and performance.”

“We are very selective in our teaming relationships with technology companies. We only work with organizations that we believe provide a unique approach that can help our clients manage risk and improve their EBITDA performance,” said David Rubin, Principal, CohnReznick Advisory Group and National Director, Risk & Business Advisory. “After assessing the corporate-performance solutions market, we believe that Adaptive’s solution presents a unique approach that can help our clients improve the effectiveness and productivity of their financial management function,” said Rubin.

John Macrae, Principal, CohnReznick Advisory Group, said he was especially drawn to Adaptive Insight’s Corporate Performance Management technology suite, which supports the concept of continuous planning—the antithesis of “once-and-done” budgeting processes.

“For far too many companies, budgeting is an inefficient annual event built around a static, manually created Excel™-driven process,” said Macrae, who leads the Firm’s Accounting and Financial Advisory service. “In fact, one consistent experience in most companies is that by the time the budget is complete, it is already outdated and obsolete.”

CohnReznick consultants have long been proponents of continuous planning and rolling forecasts, where the original budget, tied to the company’s strategic plan, is augmented by driver-based forecasts, Macrae noted, explaining that the forecasts are developed collaboratively and used as a performance-management tool to guide decision-making to drive achievement of the plan. That’s because in most industries, markets and the competitive landscape can change rapidly, and a company’s financial planning processes need to be agile enough to respond to these changes, he said. In a continuous-planning scenario, Macrae pointed out, performance is evaluated against plan on a monthly or quarterly basis, and rolling forecasts are developed and maintained based on real-time information to guide the business.

“We help our clients develop and implement both the processes and systems that enable the development of such driver-based forecasts and continuous planning processes,” said Macrae. “And in order to even further streamline the process and improve its effectiveness and efficiency, we chose to team with Adaptive Insights.”

Consistent with its teaming relationship with Adaptive, CohnReznick consultants undergo an extensive certification program and are subject to rigorous standards and ongoing evaluation to ensure a high degree of quality and customer satisfaction.   

About Adaptive Insights
Adaptive Insights is a leader in cloud-based corporate performance management 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 Insights enables finance, sales, and other business leaders to make better, faster, more collaborative decisions that drive a true competitive advantage. Adaptive Insights is used by over 2,000 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 #1 fastest growing cloud business analytics and CPM software company on the Deloitte Technology Fast 500™ list; and ranks #1 in customer satisfaction in independent industry surveys. Adaptive Insights is headquartered in Palo Alto, Calif. and is funded by Bessemer Venture Partners (BVP), Norwest Venture Partners (NVP), Royal Bank of Canada (RBC), ONSET Ventures, Monitor Ventures, and Cardinal Venture Capital.

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