Companies ink reseller agreement for GAAP and non-GAAP benchmarks
Adaptive Insights and OPEX Engine announced an agreement that underscores the companies' joint commitment to providing best-in-class benchmarking data to software-as-a-service (SaaS) and software companies. Adaptive Insights, the leader in strategic corporate performance management (CPM), and OPEX Engine, the principal independent benchmarking platform for software and SaaS companies, can now better serve their mutual customers' needs. Under terms of the agreement, Adaptive Insights will resell OPEX Engine's Benchmark Engine as part of its Software Planning & Analytics Solution.
Adaptive Insights combines benchmarking from OPEX Engine, along with best-practice models and KPIs, with its Adaptive Suite integrated planning and analytics platform. The resulting Software Planning & Analytics Solution enables Adaptive Insights' SaaS and software customers to leverage data from 400 GAAP and Non-GAAP benchmarks. Integrated into the planning and dashboard capabilities of the Adaptive Suite, OPEX Engine benchmarks provide guidance for companies mapping their growth strategies and setting targets, as well as course-correcting using industry-leading metrics as guideposts.
"Having announced the Adaptive Insights Software Planning & Analytics Solution at our recent user conference, Adaptive Live, we were able to engage directly with customers in standing-room only sessions dedicated to benchmarking and software," said Tom Bogan, CEO of Adaptive Insights. "Expanding our collaboration with OPEX Engine, today's announcement enables our joint customers to purchase the entire solution directly from Adaptive Insights."
Finance teams increasingly rely on benchmarking for comparisons of how like-companies perform relative to key SaaS metrics, such as CAC, retention, sales productivity, etc. This view was validated in a recent CFO survey, where 63 percent of CFOs indicated that their board of directors or CEO measure performance against benchmarking data.
"Benchmarking gives CFOs the data to see if their key SaaS metrics are on target with peers and leadership companies, make course corrections, and improve company value," said Lauren Kelley, CEO of OPEX Engine. "They can dig into the benchmarks and see where operating departments, like sales, are good, great, or average compared to peers and make necessary changes to improve results. We look forward to partnering with Adaptive Insights to expand the reach of our BenchmarkEngine."
Comprehensive solution to model, monitor, report, analyse, and benchmark
Adaptive Insights' 400+ software customers drive increased data and benchmark aggregates into the OPEXEngineBenchmarkEngine. The anonymised data combines with OPEXEngine's extensive public and private software and SaaS vendor benchmark data, enabling Adaptive Insights to offer customers to access the most comprehensive benchmarks available for SaaS and software companies.
"We are thrilled to see Adaptive Insights incorporate the OPEXEngine SaaS benchmarks in their new SaaS solution," said Ken Goldman, SVP & CFO of Everbridge, Inc. a global SaaS-based company that provides critical event management and enterprise safety applications to help keep people safe and businesses running. "As an Adaptive Insights user and fast-growth SaaS company, we use the OPEXEngine benchmarks to manage top-line growth and bottom-line efficiency. OPEXEngine's comprehensive benchmark comparisons for a wide range of SaaS business models help us continually plan and fine-tune our growth. Nothing else like it exists."
To learn more about benchmarking for SaaS companies, read the blog "Why Today's Successful SaaS Companies Use Benchmarks."