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Host Analytics Delivers Industry-First Advanced Financial Close Capabilities in the Cloud

REDWOOD CITY, CA--(Marketwire - Mar 26, 2013) - Host Analytics, the leader in cloud-based enterprise performance management (EPM), today announced the addition of new financial consolidation and close reporting enhancements, bringing improved visibility and efficiency to the critical monthly close and reporting process. The upgrade enhances the company's suite of financial applications for enterprises that consolidate and report across multiple currencies, ERPs, and subsidiaries that are wholly-owned or minority-owned. Over the last three years, Host Analytics cloud-based consolidation and reporting applications have evolved and matured to the point that large, publicly-traded companies like Groupon, Jazz Pharmaceuticals, Zep Industries, and more rely on them to manage complex financial close processes.

Host Analytics is the only company that provides a complete, integrated, cloud-based suite of EPM applications including planning, consolidation, reporting, and analytics. The company's applications help mid-sized and large, globally distributed organizations streamline and accelerate what are often fragmented and complex close and reporting processes. Other advantages include easy management by Accounting and Finance professionals, reducing dependence on IT and consultants; no hardware or software to procure and maintain; and the ability to instantly use new features without waiting for on-premises upgrades.

New and enhanced features planned for Q2 release include:

  • Point-and-Click Cash Flow Reporting
    Users can now quickly generate advanced cash flow reports via a web-based point-and-click interface, eliminating the need to write complicated scripts required by many legacy on-premises alternatives. 

  • Enhanced Support for FAS 52
    Added to address the most demanding international close and disclose processes, new reporting enhancements allow re-measurement into the functional currency as well as support for reporting any entity in any currency, regardless of the local or common currency.

  • Close Control Panel for Granular Control of the Close Process
    Building on current Host Analytics close management functionality like Automatic Data Validations and Close Status Reporting, the new Close Control Panel gives the close administrator a snapshot of open activities across different divisions and geographies. Administrators can quickly monitor and manage activity from around the world and also drill-down to see if an activity or individual is holding up the process.

"The speed with which Host Analytics translates and consolidates our 25+ global entities is a nice benefit to us," said Rick Dubiel, Sr. Accounting Manager at Gerber Scientific, Inc. "Capabilities like journal entry workflow and copying, editing, and re-posting entries provide good internal control and time savings. We look forward to taking advantage of the new features."

"Big companies have complex needs when consolidating global financials across multiple geographies and currencies. Our rich functionality, strong focus on consolidation, and our new close and reporting features expedite the process, as well as relieve finance teams of late-night and weekend work to meet deadlines," said Dave Kellogg, CEO at Host Analytics. "No other vendor can deliver a painless, fast, and accurate global close and reporting process with the agility, lower costs, and rapid deployment advantages of the cloud." 

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About Host Analytics
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.

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