Host Analytics, the leader in Cloud-based corporate performance management (CPM) apps, today announced record corporate, customer, and partner growth in 2011. Innovation around products and features allowed the company to grow revenues by well over 100 percent in 2011 over 2010, adding well-known customer names to its client roster. Host Analytics continued to garner many industry accolades in 2011 as well.
"Improving the efficiency of business processes around finance and operations requires a unique set of applications,” said Mark Smith, CEO and chief research officer at Ventana Research. “These applications must support the planning and decisions of a business, while providing insight into the best outcomes with the least amount of risk. Host Analytics is achieving what our research has confirmed as critical, using cloud computing based methods. The cloud allows them to provide timely access to applications and information without the hassle of internal IT or long implementation cycles—at a fraction of the cost."
Notable customer names added by Host Analytics in 2011 included Groupon, Nextag, Morningstar, and Zep, Inc. The company also expanded its global footprint with the addition of many customers in the United Kingdom, India and Canada.
“The market is accelerating in its preference for cloud CPM solutions,” said Jon Kondo, CEO at Host Analytics. “Our success is making a clear point—businesses are weary of overly complex on-premise CPM software because it simply cannot deliver the rapid implementation time, lower total cost of ownership, and overall return on investment that cloud CPM can deliver. Only by having a complete view into finance can businesses plan, grow, and make strategic decisions that will pay off in both the short and long term. We are honored to be leading in an industry whose solutions have become a vital part of enabling smarter business decisions. Our record customer and revenue growth is a testament to our dedication for delivering the most comprehensive, best-in-class cloud CPM suite for businesses. We had the vision of cloud based CPM solutions early on and have invested heavily in building the most comprehensive cloud CPM suite. Last year was great validation of that work and we look forward to even more success in 2012.”
Highlights for Host Analytics in 2011 included:
Host Analytics and ERP Logic, a global solution and channel partner for SAP Business ByDesign, entered into a strategic reseller partnership, jointly developing a connector that greatly simplifies the integration and implementation of Host Analytics CPM Platform with SAP’s Business ByDesign platform. The Host Analytics for Business ByDesign connector is currently featured on SAP Store.
Host Analytics entered into a reseller agreement with Paradigm Analytics, a premier management and technology consulting firm. Paradigm Analytics has a number of practice areas, including ERP and CPM, which will be based around the Host Analytics CPM Suite.
Host Analytics’ suite of Cloud-based corporate financial planning and management solutions helps finance executives drive fact-based decision making throughout their organizations and puts rigor into financial processes, such as planning and budgeting, scorecarding and financial consolidation and reporting.
“Speed of implementation and cost savings are unique to Host Analytics’ Cloud apps,” said Derek Yung, vice president of finance and strategic planning, Nextag. “They have combined those benefits with an intuitive user interface, allowing our company to ensure our financial processes are error-free and decision making process is always sound.”
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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 AT&T, Groupon, NexTag, Crocs, Thule, Otis Spunkmeyer, Schumacher and Red Roof Inn. Founded in 2000, 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, Lead 411 Hot Company Silicon Valley Award, and the Red Herring Top 100 North America Tech Startup and also Global 100 Awards.