REDWOOD CITY, CA--(Marketwire - Oct 30, 2012) - Host Analytics, the leader in cloud corporate performance management (CPM), today announced that Host Analytics Close and Disclosure Management includes new enhancements for faster enterprise consolidation. Adding built-in process automation, the product is designed to give corporate stakeholders real-time visibility into operational and financial data, while bringing greater structure and efficiency to the critical close and disclose process.
Host Analytics Close and Disclosure Management is ideal for enterprises with multi-national organizational requirements. The cloud-based application helps mid-sized and large, globally distributed organizations to streamline and accelerate what is often a fragmented and complex close and disclose process.
As more CFOs and finance teams move core financial processes away from on-premise technologies, only Host Analytics combines the benefits of the cloud with advanced CPM features that deliver real-time visibility and collaboration, 100 percent data accuracy and more efficient consolidation for the entire close and disclose process.
New and enhanced features include:
- Automatic Data Validations
Built-in data validations provide real-time insight into the quality and accuracy of data, and at the same time reduce the overall time to close. This feature ensures a faster and higher quality consolidation process for organizations by pinpointing which subsidiaries have and have not entered data, for example, and quickly identifying out of line expenses or other inconsistencies in the data.
- Consolidation Status Reporting
Improved consolidation status reporting provides full visibility for monitoring and management of the entire close and disclose process. Users can quickly monitor where data is loaded from around the world, watch the movement of processed and unprocessed financial journals, and get a comprehensive snapshot of activity to ensure everything is progressing according to plan.
- Support for FASB 52 Rules, Functional and Interim Currencies
Advanced enterprise features address even the most demanding close and disclose processes. This includes built-in support for FASB 52 Rules, which require American companies to record foreign exchange items on a balance sheet according to prevailing exchange rates, and unprecedented support for functional and interim currency operations.
Host Analytics Close and Disclosure Management is generally available now, and will add enhanced workflow capabilities in early 2013 to provide a more methodical, structured approach to the close and disclose process, and even more rigor and comprehensive insight over the entire collaboration process.
Host Analytics is one of Silicon Valley's fastest growing cloud companies. The company delivers the first and only complete suite of cloud CPM and business analytics applications to help finance executives drive faster and smarter decisions throughout their organizations. Host Analytics has a complete cloud CPM suite covering planning, budgeting, scorecarding, financial consolidation and reporting.
"Host Analytics is committed to delivering cloud technology innovation that supports the modern, global CFO. We help automate and manage even the most complex consolidations, reducing the time to close the books by up to 75 percent. With the most complete cloud CPM solution on the market, we promise what no other vendor can -- a painless, fast and accurate close and disclose process, supported by the security, control and flexibility that only the cloud can deliver."
- Keri Brooke, Vice President of Marketing, Host Analytics
"There are two trends in financial software worth mentioning. Finance departments want financial and accounting intelligence built into the software they use for analytics, financial consolidations and reporting. They think software should come already configured to support more efficient operations, insightful analyses and are able to expedite the financial close process. Our research also finds that finance organizations' preference for on-premises software is declining. Those that are choosing a cloud-based approach for a full-featured financial performance management (FPM) suite want a solution that will support the needs of complex global organizations, but is easy to deploy and maintain. Companies that are looking for solutions for financial analysis, reporting and consolidation should consider a cloud based approach and when they do, Host Analytics should be on their list of software companies to consider."
- Robert Kugel, Senior Vice President, Ventana Research
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About Host Analytics
Host Analytics is the #1 cloud corporate performance management company, providing the only complete suite for finance. Host Analytics helps organizations make better operational and financial decisions by streamlining and automating their consolidations, planning and reporting processes.
Host Analytics has gone from pioneer to leader with their deep product functionality, world-class team and broad partner ecosystem. Thanks to the cloud, customers enjoy low costs, low risk and fast results that give them an edge and helps Finance gain greater influence in setting business strategy and operational priorities. Host Analytics is:
- 1st cloud corporate performance management solution;
- 1st to deliver external data integration;
- 1st to deliver a business analytics application built for finance in the cloud.
Host Analytics serves midsize to large customer organizations, including AT&T, Groupon, Crocs, Thule, Otis Spunkmeyer and Schumacher. The company has received on-going industry recognition and was most recently recognized by AlwaysOn for the OnDemand 100 and Global 250 Top Private Companies Awards and by Network Products Guide for its Hot Company Award.