When I started in the Spring of 2013, we had six individual companies as part of the P&S brand. Now there are more than 20,” said Dwight Lloyd, Financial Controller at P&S Logistics. “We couldn’t have achieved that kind of growth without Host Analytics.”
Frozen out of insights, waiting for a jumpstart
But in the Winter of 2013, all Lloyd had was Excel and a specialized ERP system for tracking the logistics business. Management Reporting was a challenge, as was matching revenue to expenses on a division-by-division basis. “We had spreadsheets linked manually to trial balance and it was just a nightmare,” Lloyd said, noting that pulling together even basic P&L reports would take up to a week.
What’s more, because Lloyd’s team performed manual consolidations and eliminations across all six business units, updating spreadsheets could delay reporting by two to three days. Closing the quarter would take three weeks in most cases.
Meanwhile, P&S Logistics’ on-premise legacy ERP system required constant maintenance and costly upgrades that taxed their small IT staff. This created more delays in the data collection process and hindered his ability to make informed business decisions. Lloyd knew he needed help and he turned to Host Analytics.
Tuning up with cloud-based EPM
After a competitive review against Adaptive Planning, P&S Logistics chose Host Analytics as their EPM solution for financial reporting.
Today, the finance team can close the quarter in four days instead of three weeks, and acquisitions are integrated into their reporting system within a day. Having the flexibility of cloud based EPM from Host Analytics has made a difference in what Lloyd and his team can bring to discussions with upper management.
Lloyd said, “Since the beginning we’ve felt like Host Analytics was more than a short-term fix but instead a partner for our business.”
To learn more about how cloud-based EPM from Host Analytics can help your organization succeed, check out the customer video from P&S Logistics.