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Finance Accelerates Migration to the Cloud with the Enterprise Cloud-based EPM Leader
Redwood City, CA, April 24, 2014 – Host Analytics, the leader in cloud-based enterprise performance management (EPM), today announced record new recurring revenues in the company’s most recently-closed first quarter. The company’s spectacular year-on-year growth was driven by rapidly-accelerating Cloud adoption in large organizations as Host Analytics’ industry-leading cloud-based EPM platform continued to deliver unmatched success for customers.
Industry Leaders Embrace the Cloud as Existing Users Expand
In the first quarter, Host Analytics added a number of large, industry-leading new customers including Allflex Holdings, Bureau of National Affairs, Graham Holdings, Kronos, Ollie’s Bargain Outlets, Raven Industries, Sparton Corporation, Synopsys, Unidine, and others. Fast-growing organizations also turned to Host Analytics, including new customers like AHALife, Refinery 29, and Rhapsody. These high-growth companies joined the ranks of existing customers like Marketo, Splunk, Tableau Software, Tesla Motors, and many others who chose Host Analytics to automate key financial processes ahead of their Initial Public Offerings. Filtration Group joined the long list of companies who chose Host Analytics after outgrowing lower-end cloud EPM alternatives. Customers choosing Host Analytics as the replacement for legacy on-premises EPM applications, particularly Oracle Hyperion, are also fueling growth among larger enterprises.
Record growth in subscriptions among existing customers was also a key to Host Analytics’ first quarter success, highlighting the company’s continued high satisfaction levels among users. Host Analytics customers gave the company the highest combined overall ratings for reported measures in each of the Vendor, Product, and Implementation experience categories in Gartner’s most recent “User Survey Analysis: Customers Rate Their CPM Vendors, 2012.” [i] The user survey asks customers to rate their CPM vendors across multiple areas including overall value, responsiveness of telephone support, total cost to date, improved ability to meet compliance requirements, and more. For a complimentary copy of the report, please visit: http://ow.ly/lTsaW
A Commitment to Trust and Data Security
Recognizing that customer data security and system availability are of the utmost importance to customers of any size, the company continued to invest aggressively in infrastructure to ensure the security of customer data and maximize system availability. In the first quarter, Host Analytics was recognized as the only cloud-based EPM vendor to achieve the Enterprise-Ready security rating from SkyHigh Networks as part of the SkyHigh CloudTrust™ program. Host Analytics also again exceeded its contractual Service Level Agreement (SLA) for availability, delivering more than 99.9% SLA uptime.
In March, Host Analytics was positioned by Gartner, Inc. in the Visionaries quadrant of the 2014 Magic Quadrant for Corporate Performance Management (CPM) Suites. [ii] Having evaluated 16 different software vendors across multiple areas of functionality, Gartner analysts placed Host Analytics in the Visionaries quadrant based on the company’s ability to execute and on its completeness of vision. This is the fifth year in a row that Host Analytics has been recognized in the Gartner Magic Quadrant for CPM Suites and the 2nd consecutive year being positioned in the Visionaries quadrant. For a complimentary copy of the report, please visit http://ow.ly/uNakK
March also marked the publication of a new Ovum SWOT assessment* focused on Host Analytics and the continued emergence of cloud-based alternatives in the EPM market. The report from Ovum, a global research and consulting firm, provides in-depth analysis and a balanced assessment of Host Analytics Cloud EPM Suite. In reference to the company’s market position, Ovum described Host Analytics as “One of the largest Cloud EPM vendors in terms of size, with a mature offering and a large roster of reference-able enterprise customers.” For a complimentary copy of the report, please visit http://ow.ly/v0hxd
Continued Ecosystem Growth
Host Analytics added numerous partners throughout the first quarter as more service delivery organizations saw the opportunity to build businesses around cloud-based EPM by partnering with Host Analytics. Host Analytics partners deliver unique expertise in specific technologies, business processes, and industries to maximize the value that joint customers get from their Host Analytics solution. New partners in the first quarter included Acando, AgilityWorks, Bakerfield Solutions, KPI Partners, Lydon Group, MorganFranklin, and Sense Corp.
“Our strategy is working spectacularly well,” said Dave Kellogg, CEO of Host Analytics. “EPM buyers are increasingly saying that now is the time for finance to move to the Cloud and when they do so, they want to work with a proven leader that consistently makes customer successful even in large, sophisticated deployments. Host Analytics is the clear choice and we couldn’t be in a better position to capitalize on the transformation of the EPM category.”
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* Ovum’s SWOT reports are an independent assessment of a specific solution or service, examining features and capabilities, SWOT analysis, enterprise deployment considerations, and vendor’s product strategy
About Host Analytics
Host Analytics is the leader in cloud-based financial applications for planning, consolidation, reporting and analytics. Host Analytics enterprise performance management (EPM) customers benefit from improved business agility, improved security, and lower overall cost compared to legacy on-premises alternatives. World-class companies like NEC, Burlington Coat Factory, and Crocs trust Host Analytics to power their strategic financial processes. Host Analytics is a fast-growing, private company backed by leading venture capitalists and is headquartered in Silicon Valley with offices around the globe.
For more information about Host Analytics, please visit www.hostanalytics.com
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Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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[i] Gartner “User Survey Analysis: Customers Rate Their CPM Vendors, 2012” by Christopher Iervolino, John E. Van Decker, [06/04/2013].
[ii] Gartner "Magic Quadrant for Corporate Performance Management Suites, 2014" by Christopher Iervolino, John E. Van Decker, Neil Chandler, 19 March 2014.