Baxa Finds the Cure for Financial Reporting and Consolidation with Host Analytics' Saas Corporate Performance Management
REDWOOD CITY, Calif. — June 21, 2011 — Host Analytics, the industry’s leading provider of SaaS-based corporate performance management, today announced that Baxa Corporation, a leading medical device company that provides innovative, solution-based technologies for medication handling and delivery, is using Host Analytics’ Corporate Performance Management (CPM) suite to speed its financial reporting process and gain better visibility into both budgeting and business decisions.
Baxa develops and manufactures products for administering medications that enable healthcare providers to treat patients safely and effectively. The company is best known for its fluid-delivery automation solutions used in hospital pharmacy and nursing environments.
“Life in the finance department before Host Analytics could best be summed up in one word – tedious,” said Irene Krysiak, finance director, Baxa Corporation. “Running stand-alone financials in Microsoft® FRx® and data manipulation with multiple spreadsheets was the norm, which meant monthly financial reporting processes could take up to three and half days simply to build the global financials. Using Host Analytics’ CPM suite, we now spend more time analyzing the data than we do collecting and inputting it, which ultimately gives us better visibility into business performance and allows us to make smarter business decisions.”
In less than one month, Baxa implemented the first module of Host Analytics’ suite, Host Analytics Consolidator, and saw immediate simplification and time savings. The company allocates overhead costs to each product line, which historically was a tedious, manual process, involving multiple reports and spreadsheets. Using Host Analytics Consolidator, the work is automated, transforming the process from hours to mere minutes. Overall, the company has cut roughly two days off the consolidation process each month, providing their financial analysts the tools and bandwidth necessary to provide more value to the business.
“Host Analytics has done wonders for our company because their solutions provide precise information that business leaders require,” continued Krysiak. “The SaaS-based suite allows decision-makers easy access to the system and provides visibility into their budgets, which means they are able do more for themselves and have a deeper understanding of their data and its impact.”
To view a case study outlining Baxa Corporation’s use of Host Analytics’ CPM suite, Click Here.
About Host Analytics
The Host Analytics Decision Platform™ reveals the full implications of decisions – both risk and reward. As the industry’s first cloud-based corporate performance management (CPM) suite, Host Analytics improves budgeting, forecasting, financial consolidations, dashboarding, scorecarding, reporting and analysis to drive fact-based decisions for finance executives. Host Analytics serves midsize to large customer organizations including JP Morgan Chase, Procter & Gamble, Crocs, Thule, Otis Spunkmeyer, Schumacher and Red Roof Inn. Founded in 2000, Host Analytics was named among JMP Securities' Hot 100: The Best Privately Held Software Companies and the AlwaysOn OnDemand 100. The company has also received industry accolades such as the 2010 Ventana Research Leadership Award and the 2010 Editors' Choice Award From TechWeb's Intelligent Enterprise.
About Baxa Corporation
Baxa, a customer-focused medical device company, provides innovative, solution-based technologies for medication handling and delivery. Its systems and devices promote the safe and efficient preparation, handling, packaging and administration of medications. Key products used worldwide in hospitals and healthcare facilities include: the Abacus® Order Entry and Calculation Software, the DoseEdge® Pharmacy Workflow Manager, ExactaMed® Oral Syringes, ExactaMix® Automated Compounding Devices, InFuse™and MicroFuse® Syringe Infusers, Repeater™ Pharmacy Pumps, NeoThrive® Enteral Syringes, the PadLock® Set Saver and the RapidFill™ and IntelliFill® i.v. Automated Syringe Fillers. Privately held, Baxa Corporation has subsidiaries and sales offices in Florida, Canada and the United Kingdom; direct representation in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, The Netherlands and Switzerland; and distribution partners worldwide. Further information is available at www.baxa.com.