Case Study: Vermont Energy Investment Corp cuts budgeting and reporting time with Adaptive Insights and Carlson Management Consulting

Carlson and Adaptive Insights Enable More Accurate and Efficient Budgeting at VEIC

Vermont Energy Investment Corp (VEIC) needed a better way to manage budgeting and reporting because its annual budgets were being built in Excel spreadsheets, which had become unsustainable for its complex, bottom-up budget process. The company worked with Carlson Management Consulting and Adaptive Insights to replace spreadsheet-based budgeting with a central system that could handle many stakeholders and support detailed budget submissions.

With Carlson Management Consulting’s guidance, VEIC implemented Adaptive Insights for corporate budgeting, forecasting, and financial modeling. The company reported better, faster, and more accurate budgeting, company-wide actual-to-budget variance reporting, and stronger Board reporting, along with 50% time saved when producing Financial Results Packets, several days cut from the monthly reporting process, and at least two full weeks saved during annual budgeting.

Vermont Energy Investment Corp

Mark Lundquist

Budget & Financial Planning Analyst