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Host Analytics, the leader in cloud-based corporate performance management (CPM) solutions, today launched Host Analytics Business Analytics, a new business intelligence (BI) tool for finance. Combining the best of CPM and BI in the cloud, the new application gives finance departments a complete understanding of their business drivers. Host Analytics delivers a holistic approach to managing financial performance, which helps businesses make faster and smarter decisions based on the facts that directly impact the bottom line.
“By bridging CPM and BI, Host Analytics empowers executive stakeholders with the confidence that they are making the most informed, strategic business decisions possible, based on facts,” said Jon Kondo, CEO of Host Analytics. “The promise of CPM and BI for business led to a consolidation in the on-premise market almost a decade ago. Technology innovation and the addition of new strategic partners makes Host Analytics the first and only cloud company that can deliver on the promise of cloud CPM and cloud BI. No other cloud CPM vendor goes beyond finance to bridge operational, financial and external data for a holistic view of business performance.”
More than ever, finance professionals make critical business decisions that must rely on integrating and rapidly analyzing growing volumes of data siloed in sales, marketing, operations, and other applications. Further, finance professionals realize that there is a proliferation of external driver-based data outside their company that they could take advantage of. With financial implications at the core of these decisions, finance executives in mid- to large-sized enterprises are particularly challenged by the relentless growth of internally generated and externally available data. Host Analytics recognizes finance executives as the managers of critical business reporting that depend on accessing quality data, and with today’s announcement, continues to deliver the technology they need to drive sound business decisions.
Unlike traditional CPM suites that lack operational data and are not designed for business users beyond finance and accounting, Host Analytics Business Analytics provides a standardized reporting and dashboarding interface for finance and business managers on operational and financial data. Different than traditional on-premise business intelligence tools, which can be complex to use and expensive to deploy, Host Analytics Business Analytics is cloud-based, which makes it easy to use and fast to deploy.
Gartner’s Magic Quadrant for Business Intelligence Platforms, Feb 6, 2012, written by John Hagerty, Rita L. Sallam, and James Richardson explored the need for business intelligence tools, noting:
“Organizations continue to turn to BI as a vital tool for smarter, more agile and efficient business. According to Gartner’s annual survey of CIO technology priorities, BI and analytics has once again been named the top priority for 2012, a position it has held in three of the last five years.”
The new application is optimized to work in conjunction with CPM with self-service reporting built for finance. For customers that already have an online BI tool in place, Host Analytics offers an open architecture strategy that enables customers to choose the best BI tool for their needs by using open database connectivity (ODBC) drivers that can access all CPM and non-CPM data. What’s more, Host Analytics customers will be able to enjoy viewing reports and dashboards “on the go” from their mobile devices like the iPad.
Reinforcing Host Analytics’ leadership in cloud CPM, today’s announcement builds on the company’s recent technology innovations, including dynamic reporting functionality, which combines financial and ad-hoc reporting to form a simple, comprehensive picture of finance. Host Analytics also recently announced advanced close and disclose functionality and a new user interface that allows finance executives to manage processes, such as financial consolidation and reporting, from an intuitive control panel.
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About Host Analytics
Host Analytics is the leader in cloud corporate performance management (CPM), driving financial decisions for over a decade. Host Analytics delivered the industry’s first and most complete cloud-based CPM suite, giving customers full visibility into business performance to reveal the implication of any decision – both risks and rewards. The company’s solution integrates internal and external data to improve budgeting, forecasting, financial consolidations, dashboarding, scorecarding, reporting and analysis for business stakeholders. Host Analytics serves midsize to large customer organizations including AT&T, Groupon, NexTag, Crocs, Thule, Otis Spunkmeyer, Schumacher and Red Roof Inn.
Host Analytics has received industry recognition including JMP Securities' Hot 100: The Best Privately Held Software Companies, AlwaysOn OnDemand 100, AlwaysOn Global 250, the Ventana Research Leadership Award, the Editors' Choice Award From TechWeb's Intelligent Enterprise and the Red Herring Top 100 North America Tech Startup Award.