REDWOOD CITY, CA--(Marketwired - Apr 10, 2013) - Host Analytics , the leader in cloud-based enterprise performance management (EPM), today announced record Q1 revenues driven by increasing adoption from larger companies of Host Analytics EPM Suite. In the first quarter, Host Analytics recorded competitive wins at publicly-traded companies over Oracle-Hyperion, SAP, and IBM-Cognos. The company also continued to win awards and be recognized by industry experts for its product breadth and depth, high customer satisfaction, and industry-changing cloud delivery model.
Host Analytics is the only company that provides a complete, integrated, cloud-based suite of EPM applications including planning , close management , reporting , and analytics . The company's applications help mid-sized and large, globally distributed organizations transform how they deliver insight, drive accountability across the enterprise, and streamline and accelerate what are often fragmented and complex planning, close, and reporting processes. Other advantages include easy management by Accounting and Finance professionals, reducing dependence on IT and consultants; state-of-the-art security; no hardware or software to procure and maintain; and the ability to instantly use new features without waiting for on-premises upgrades.
These advantages helped Host Analytics add another long list of leading companies to its customer ranks in the first quarter. Select new customers include Lynda.com, Pandora Internet Radio, Pharmacyclics, Sanmina Corporation, Time Warner Cable, and Tucson Airport Authority. The company's renewal rate remained well in excess of 100% as existing customers not only renewed their subscriptions, but expanded their usage of the company's market-leading cloud-based EPM applications.
"The Cloud is an unstoppable force that's transforming and empowering Finance," said Dave Kellogg, CEO at Host Analytics. "When enterprises see what Host Analytics can do to address their sophisticated challenges while avoiding the rigidity, complexity, and cost of outdated on-premises EPM software, choosing Host Analytics becomes an easy decision. Our success in the first quarter proves that more and more enterprises are making that choice."
Gartner recently recognized Host Analytics as a Visionary in the 2013 Magic Quadrant for Corporate Performance Management Suites. Noting the growing demand for cloud-based performance management applications, the report states, "There has been increased traction for SaaS-based CPM applications within midmarket organizations and, more recently, for larger, Tier 1 organizations. Gartner expects this trend to continue and has elevated the importance of CPM cloud capabilities for CPM suite vendors." 1
For a complimentary copy of the 2013 Magic Quadrant for Corporate Performance Management Suites, please visit http://ow.ly/hJqb7 .
Host Analytics products continued to garner industry attention during the first quarter. The company won the Best Financial Planning and Analysis Technology award at the IE Group Financial Forecasting and Planning Innovation Summit. Judging for the award was conducted by senior Finance professionals from leading organizations like Carters, Newell-Rubbermaid, Papa Murphy's, Siemens, Skype, and others, who selected Host Analytics over multiple competing solutions.
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About Host Analytics, Inc.
Host Analytics is the leader in cloud-based financial applications for planning , consolidation , reporting , and analytics . Host Analytics enterprise performance management (EPM) customers benefit from improved business agility, improved security, and lower overall cost compared to legacy on-premises alternatives. World-class companies like NEC, Burlington Coat Factory, and Crocs trust Host Analytics to power their strategic financial processes. Host Analytics is a fast-growing, private company backed by leading venture capitalists and is headquartered in Silicon Valley with offices around the globe.
For more information about Host Analytics, please visit www.hostanalytics.com
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Disclaimer:
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
1 Gartner "Magic Quadrant for Corporate Performance Management Suites, 2013" by Christopher Iervolino, John E. Van Decker, Neil Chandler, [02/14/2013].
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