Host Analytics, the leading specialist provider of connected financial planning and close solutions today announced the release of The Total Economic Impact™ Of Host Analytics, a commissioned study conducted by Forrester Consulting, a leading independent research firm. The independent research firm revealed that companies using Host Analytics solutions can realize $1.2 million in benefits over three years and a total ROI of 393%.
The research shows that the companies interviewed recognized significant value from using Host Analytics. With Host, companies could now undertake initiatives that typically would require the equivalent of five additional FP&A professionals. This increased productivity and capability for financial planning and analysis staff equates to $731k in savings over a three-year period and a Net Present Value of $984,577. Beyond just the impact to finance teams, the outcome of the independent research showed a significant impact to the overall business with increased operating income due to better decision-making.
“I think the biggest change is just that it changes our focus from looking in the rearview mirror to looking forward, out the windshield.” said a Senior Director of FP&A, in the social media industry who was interviewed for the study.
“We’ve always known that Host Analytics provides huge value to our customers, and now this independent Forrester analysis puts a number on that value: $1.2 million,” said Ron Baden, interim Chief Executive Officer at Host Analytics. “Financial professionals tell us that they want to modernize how they do their jobs and collaborate more with their business colleagues, and that’s exactly what we deliver.
Forrester used their proven Total Economic Impact™ methodology to create this unbiased look at the real benefits our customers receive. Organizations looking to modernize their financial planning, forecasting, and close processes can now use this impartial analysis to justify their investment in Host Analytics.
To create this independent study, Forrester Consulting applied its Total Economic Impact™ (TEI) methodology by interviewing current and active Host Analytics customers to identify the cost, benefit, flexibility, and risk factors that affect their investment decision. The customers come from diverse industries, including apparel, enterprise data, social media, and manufacturing.
While interviewing Host Analytics customers, Forrester also uncovered the non quantifiable benefits:
- Better scenario planning. Host Analytics provides better integration of different data sources, better categorization of spend, and a unique “Initiatives” feature, all of which contribute to easier adjustment of the variables for scenario planning.
- Closing the books faster. Host Analytics enables organizations to close their accounts faster at the end of fiscal periods, freeing staff to focus on planning and analysis, process improvements, and other higher value-add activities.
- Employee retention. Host Analytics eliminates the inefficiency and frustration in finance processes, leading to greater job satisfaction.
The Total Economic Impact™ Of Host Analytics Enterprise Performance Management study is available to download here. The extensive study contains details of each organization interviewed, their key challenges prior to deploying Host Analytics, and their resulting benefits. The study also provides a detailed analysis of the benefits of Host Analytics, as well as an analysis of the costs and the calculation of the quantitative benefits and return on investment.