Host Analytics, the leader in cloud-based enterprise performance management (EPM), today announced that the second quarter of 2015 was the most successful in company history, as the company grew new subscription revenue by more than 70 percent over the prior quarter and added a record number of new customers.
Moreover, Host Analytics saw a record number of Oracle Hyperion replacements driven by customers desiring to enhance financial processes and increase agility, while leaving behind the cost and complexity of legacy on-premises EPM applications. The company also achieved record sales to existing customers who are increasingly embracing Host Analytics’ new modeling capabilities as a way to transform their planning processes to better anticipate business outcomes across operations and finance.
“I’d like to sincerely thank our customers and partners for helping Host Analytics have the best quarter in company history,” said Dave Kellogg, CEO of Host Analytics. “For organizations feeling tethered to outmoded on-premises EPM applications or outgrowing entry-level cloud EPM solutions, Host Analytics is the clear choice to deliver a complete, enterprise-class cloud-based EPM suite.”
New Customer Wins
Fueled by its leadership in the red-hot cloud EPM market, Host Analytics continued to add new large enterprises and fast-growing start-ups to its rapidly growing customer base during the second quarter. New customers included AMG Advanced Metallurgical Group, Fay Servicing, LLC, First Rate, Inc., Five Guys Enterprises, LLC, Gyrodata Incorporated, HomeServices of America, Inc., Machinima, Inc., Pinterest, Inc., and Specified Air Solutions.
Market Demand for Modeling Heating Up
New research from analyst firm Gartner points to a growing trend among financial leaders toward the use of modeling to improve financial and operational management. In that study, entitled “Survey Analysis: References Rate Their CPM Vendors in Gartner's User Survey,” analysts Christopher Iervolino and John E. Van Decker wrote the following:
“References were asked, ‘What were your organization's top three most important selection criteria when selecting your CPM solution?’ As in previous years, functional capabilities, ease of use and reporting capabilities were the top three responses selected. However, the percentage of references who selected reporting decreased from 47 percent last year to 38 percent this year. Conversely, modeling and analytic capabilities increased from 24 percent last year to 36 percent this year. This reduction in reporting importance and increase in modeling importance illustrates the shift in requirements from the periodic reporting needs of the past to more dynamic, complex modeling and what-if requirements. This underscores the importance of more-capable embedded analytics within these solutions.”
Host Analytics recently introduced Modeling Cloud to help customers address critical business planning issues through interactive query and analysis, advanced modeling and Excel-based reporting. These features enable finance and business users to better anticipate business outcomes and collaborate securely across Excel, Web and mobile environments.
“Modeling Cloud adds powerful multidimensional modeling capabilities to Host Analytics Cloud EPM Suite,” said Craig Schiff, President and CEO of BPM Partners. “This will be particularly attractive to those looking to analyze a large variety of operational data alongside financial data, but are currently constrained by traditional solutions.”
“Best-in-Class organizations are over twice as likely as all others to have the ability to perform ‘what-if’ scenarios in the financial planning, budgeting and forecasting process,” said Nick Castellina, Research Director for Aberdeen Group. “Solutions such as Modeling Cloud address a critical need that both finance and line-of-business analysts have to perform detailed modeling while staying aligned to corporate financial plans.”
“Today, operational users continue to do modeling in desktop spreadsheets, disconnected from finance and the financial plan, even though modeling is the key task in translating enterprise data into strategic financial outputs,” said Hyoun Park, Chief Research Officer for Blue Hill Research. “Modeling Cloud offers them high performance interactivity in the familiar Excel environment along with the data security and scalability of a centralized cloud platform. That’s key to aligning and integrating finance and operations.”
In the second quarter, Host Analytics announced the formation of a strategic alliance with Aviso, provider of leading predictive insights software designed to help sales teams optimize their performance, to enable enterprises to seamlessly integrate sales forecasting and financial planning and improve execution against quarterly sales and earnings targets.
New Executive Appointment
Host Analytics also announced the appointment of Bryan Katis as Senior Vice President of Product Management during the second quarter. Bryan spent over 15 years at SAP where he led the EPM Solutions group and was responsible for product direction, developing go-to-market strategies and industry evangelism. From 2010 to 2012, Bryan grew SAP’s market share from 18 percent to 26 percent, surpassing Oracle Hyperion to become #1 in the EPM space. Most recently, Bryan was Vice President of Customer Success at Anaplan, where he was responsible for professional services, support, training, education and account management.
Awards and Industry Recognition
During the second quarter of 2015 Gartner named Host Analytics a Visionary in the 2015 Magic Quadrant for Corporate Performance Management (CPM) Suites based on the company’s ability to execute and its completeness of vision. In addition, Nucleus Research recognized the company as a leader in the 2015 Technology Value Matrix for CPM for its ability to provide high ROI to customers through strong integrations as well as the company’s ability to offer a user interface that increases productivity and adoption rates.
The second quarter also saw Host Analytics named as one of CIOReview’s 20 Most Promising Corporate Finance Tech Solution Providers. The company was recognized for “stirring a revolution in the corporate finance technology space” and “delivering top-notch EPM solutions.” CIOReview also highlighted Host Analytics’ “in-depth expertise in delivering corporate finance-related solutions and for its ability to break new technological ground to benefit its customers.”
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About Host Analytics
Host Analytics is the leader in cloud-based enterprise performance management (EPM), offering a suite of financial applications for planning, modeling, consolidation, reporting, and analytics. World-class companies like NEC, Burlington Coat Factory and Sanmina trust Host Analytics to power their strategic financial systems. Host Analytics is a fast-growing, private company backed by leading venture capitalists and is headquartered in Silicon Valley with customers in over 80 countries.
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