Caleb Hill, Director of FP&A at Trustpilot, shares how their organization leverages Adaptive Insights, with Carlson’s services and support, to focus on the value-added side of analysis through robust workforce planning and reporting capabilities.
Please provide a description of your organization and mission.
Trustpilot is the place where merchants and consumers go to build trust online. It was founded 11 years ago in Denmark with the mission of bringing transparency to anyone doing business online.
Trustpilot’s open review platform connects merchants with consumers. Merchants can gain access to premium software tools that allow them to automate feedback collection, give them a better understanding of their reviews and help them leverage reviews to drive better consumer awareness. They can feature their Trustpilot scores on their websites, thereby increasing confidence with consumers.
As a global business, Trustpilot has about 700 employees in offices all over Europe, the United States, and Australia.
Please provide a description of your role and responsibilities within your organization.
I’m the Director of Financial Planning and Analysis. Our FP&A team of five, in New York City, supports the business globally.
The FP&A team leads management reporting, decision support, planning and interfacing with the board of directors and investors. We lead the forward-looking planning as well as day-to-day operational support to ensure we’re making the right decisions as an organization.
Please describe the challenges that your organization faced which led you to seek out a new cloud-based CPM solution.
We faced challenges from using spreadsheets to transform raw ERP data into meaningful insights for reporting and planning. For our planning, we were building all models in fragmented spreadsheets. While spreadsheets are great for an ad-hoc analysis, they’re not a good solution to aggregate all plan components for a global organization like ours. Additionally, the processing of data was very manual, cumbersome, and not scalable.
What factors made you decide that Adaptive Insights was the right solution for your organization? Did you look at other solutions?
We evaluated Adaptive Insights and Host Analytics most closely. Ultimately, we decided on Adaptive Insights because it’s a more dynamic solution in which we can easily configure models. We also wanted to build out our models with commercial KPIs for our SaaS business model. Adaptive Insights is a more flexible solution that accommodates the buildout of those components in addition to our core financial model.
Additionally, many of our peers in the industry highly recommended Adaptive Insights to us. Their experiences gave us an extra measure of confidence that Adaptive Insights is the best solution.
Which systems are you using Adaptive Insights with? What are the key benefits?
We’re using Adaptive Insights with our ERP system. With that integration, we can view up-to-date numbers for balances and transactions. That’s currently the only integration we have established.
In the future, we’d like to explore the possibility of integrating Adaptive Insights with our HRM system to evaluate HR data. We may also integrate our subscription management platform and Salesforce.
For now, integrating our ERP system with Adaptive Insights is very valuable to our organization.
The Results and ROI:
With Adaptive Insights, what abilities do you now have that you didn’t prior to implementation?
As a global business, there’s a lot that goes into planning the salaries for 700 employees (and growing) and ensuring those numbers are being reflected appropriately in the plan. For business planning, being able to make the most of Adaptive Insights' workforce planning capabilities saves us so much time.
For our reporting, we now have dynamic and customized reports in which we can easily refresh values in a matter of seconds. We also have dynamic PowerPoint presentations linked to values in Adaptive Insights. We can create up-to-date presentations a lot faster for our management team and board of directors.
Adaptive Insights enables our FP&A team to increase our effectiveness by about 10-20%, helping us focus our efforts on the value-added side of analysis. We spend far less time manually processing data in Excel models. We can depend on Adaptive Insights to complete all the data aggregation processing for us.
What are some of the other benefits you have experienced that may be less quantifiable?
The confidence in knowing we have high-quality data and an up-to-date plan that reflects our performance makes my days easier. In Adaptive Insights, it’s easy to drill down into the real drivers of the plan and find information that gives me a deeper understanding of our business. Introducing rolling forecasts will also have a meaningful impact on how we operate the business.
The Carlson Experience:
Can you please describe the customer experience you enjoy at Carlson that makes the most difference for you?
The lead on our engagement is Joe Lane who is great at helping guide and coach us. His expertise in Adaptive Insights is very complementary to our team. He helped us climb the learning curve quickly. Specifically, he’s walked us through the training, providing hands-on support that made tasks, which seemed daunting at first, a lot more approachable.
Joe’s expertise on best practices in the industry gives us confidence in knowing the models we’re building will be as effective as possible. It’s great to have that outside perspective and expertise in Adaptive Insights.
Why do you recommend Carlson Management Consulting?
A Carlson consultant’s expertise during the implementation phase will pay many dividends in the future. Getting the process right is one of the most important steps. Having a third-party, outside perspective on your business, as well as an understanding of industry best practices to inform on your Adaptive Insights system’s design and build, is an investment that will be very helpful in the long-run.
Why do you recommend Adaptive Insights?
You will find Adaptive Insights’ usability to be flexible and dynamic. It’s a very intuitive solution that makes it easy for you to make changes to models. If you have a desire to build a core financial model as well as expand your planning capabilities that fit your business, Adaptive Insights is for you.