Ben Plummer, CMOWhen it comes to the role of corporate finance, it’s time to close the gap between perception and reality. Finance departments are still considered as the back-office record keepers, but with the rapid pace of finance transformation, they are playing an increasing role as strategic advisor–both to their operational counterparts and to the CEO. Part of this transformation includes updating and modernizing systems including Enterprise Performance Management (EPM) for enhanced efficiency and agility.
Keeping pace with the ongoing trends, finance organizations are rapidly embracing the cloud to replace their on-premises EPM software, such as Oracle Hyperion. Fueling the transition is Host Analytics, a provider of cloud-based financial applications. The Redwood City, CA-based company enables finance organizations to synchronize planning and forecasting processes, deliver financial results accurately, and monitor performance across the entire organization. “We are replacing both spreadsheets and legacy EPM applications to provide customers with autonomy from IT, lower TCO and faster time to value than their previous systems,” says Ben Plummer, CMO, Host Analytics.
The cloud EPM platform provides enterprise modeling capabilities that can align finance and operations. Its planning module offers streamlined budgeting, planning, forecasting, and analysis that doesn’t depend on IT resources used by on-premises solutions. The powerful financial consolidation module integrates financial and operational data from ERP, HCM and other sources to support the generation of financial statements and books that adhere to US GAAP, IFRS and other guidelines. And the reporting and analysis modules provide users the ability to access financial and operational results in a variety of formats–including standard reports, briefing books, board presentations, and interactive dashboards. “This functionality enables customers to streamline their financial processes and gain agility in a dynamic economic environment, while allowing employees to monitor results against plans through web browsers or mobile devices, anytime, anywhere,” adds Plummer.
To help accelerate the adoption of its cloud EPM solutions, Host Analytics offers training and implementation services, as well as an Oracle Hyperion Migration Program, which either replaces legacy applications or adds the benefits of the cloud to a company’s existing Hyperion EPM functionality.
We are replacing both spreadsheets and legacy EPM applications to provide customers with autonomy from IT, lower TCO and faster time to value than their previous systems
Host Analytics training and implementation services guide customers through initial deployment and beyond with expert implementation and support, proactive service monitoring and health checks, and ongoing training with access to Host Analytics’ robust customer community.
Host Analytics continues to gain market share from on-premises EPM application vendors and other cloud-based EPM software vendors for its ability to offer its cloud EPM platform at lower costs and faster implementation timeframes. Since its founding, Host Analytics has consistently been the solution of choice for supporting the growth of high-profile companies like iCIMS, Peet’s Coffee, Jazz Pharmaceuticals, Splunk and Slack. For instance, Host Analytics was instrumental in ensuring the successful integration of FrontRange and Lumension, the two companies that became HEAT Software. Using Host Analytics Modeling, the integration team was able to create a new merged infrastructure that optimized modeling for headcount planning, complex currency conversions, and reporting requirements.
Inspired by the challenges finance departments face in a dynamic, big data-driven business environment, Host Analytics is continually improving its offerings. In the latest release, the company announced new functionality including a new analytics module, major performance enhancements improving scale, function, and flexibility, as well as new integration and certifications with partners, including NetSuite, Xactly, Slack, and Google. “Host Analytics is powering finance transformation, helping shape what a new, modern finance organization looks like and the critical role it plays as strategic advisor to the business,” concludes Plummer.