Host Analytics, the leading innovator of cloud-based enterprise performance management (EPM) solutions, today announced that PS Logistics, one of the largest flatbed trucking firms in the U.S., has transformed its financial and management and reporting with Host Analytics. The company has long been recognized as an innovative, technology-driven provider of logistics solutions, and was able to modernize and drastically shorten their close process, and uncover fresh insights, all via Host Analytics. The fast-growing company has cut weeks from its monthly close while generating breakthrough insights that save millions of dollars a year by linking financial and operational data in an expanded reporting environment.
“Since adopting Host Analytics, we’ve shortened our close process so much that we can spend a lot more time on analytics,” said Financial Controller Dwight Lloyd. “The ability to combine financial and operational data in Host has given us visibility that was unheard of in the past. We can identify opportunities and problems and react much more quickly.”
As a result, the PS Logistics finance team was able to undercover pricing models to see how freight versus fuel surcharges would affect margins. By determining how much a driver was paid, their finance team identified a $2.4 million cost saving by assigning a reasonable fuel surcharge rate.
Founded in 2004, PS Logistics has grown from 35 trailers and 20 owner-operators to a fleet of 2,400 trucks and a workforce of nearly 3,000, including 2,400 drivers. PS Logistics has expanded from five individual companies under its brand to more than 20 across 26 locations, while building out its brokerage and third-party logistics services. That rapid growth and the limitations of Excel-based manual reporting prompted the company to implement Host Analytics.
PS Logistics selected Host Analytics for its ease of implementation, intuitive user interface, robust financial reporting capabilities, as well as, the flexibility of its cloud EPM platform.