REDWOOD CITY, CA — (Marketwired) — 10/22/13 — Host Analytics, the leader in cloud-based (EPM), today announced record sales in its most recently-closed third quarter. The company-s breakout results were fueled by accelerating adoption of cloud-based solutions in Finance, and a continued trend of larger companies migrating away from legacy on-premises EPM applications to the Cloud with Host Analytics.
The company won a number of large enterprises and industry leaders during the third quarter including Applied Industrial Technologies, Atlantic Power, Aspen Dental Management, Duchossois, Lehigh Gas, Sharp Electronics, Vitamin Shoppe, and many more. Large organizations turned to Host Analytics to replace legacy on-premises solutions from IBM, Oracle-Hyperion, and SAP that can-t match the improved business agility, enhanced security, and lower overall costs of Host Analytics- cloud-based delivery model.
The company also remained the leading cloud-based EPM solution for high-growth emerging companies. New customers like Love Culture, MongoDB, Thrillist, and Tremor Video chose Host Analytics to streamline key financial processes and to escape the inefficiency and insecurity of Excel-based approaches. Beyond that, Host Analytics won replacements of lower-end cloud-based EPM applications at GoPro, Physio-Control, and Evernote, as they outgrew the functional and scalability limitations of less robust offerings. Those companies join the list of organizations like Crabtree & Evelyn who turned to Host Analytics after struggling to achieve success with other cloud-based alternatives.
During the third quarter, Host Analytics also announced the appointment of Ian Halifax as the company-s Chief Financial Officer. Ian brings over 25 years of finance and operational experience at public and private high-growth technology companies, consistently helping companies achieve scale, market leadership, and profitability.
Host Analytics continued to be recognized by leading analysts and research firms. In The Forrester Wave: Financial Performance Management, Q3 2013, Host Analytics was cited as a Leader in financial performance management (FPM). The report recognized that, “Host Analytics shows the most breadth and maturity among the rapidly growing software-as-a-service (SaaS)-only FPM solution providers.” Having evaluated 11 different software vendors across 55 evaluation criteria, Forrester analysts placed Host Analytics in the Leaders category based on its scores in current offering, strategy, and market presence. The report states, “Host Analytics enables financial agility in the cloudIts solution is a good choice for both medium-sized companies needing rapid deployment and enterprise-class companies looking for predictable ownership costs and easy upgrades.”
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“Our excellent third quarter results provide clear validation of our up-market strategy,” said Dave Kellogg, CEO at Host Analytics. “At the high-end, we are increasingly replacing legacy, on-premises EPM at customers who are tired of the excessive costs, complexity, and heavy dependence on IT. In addition, in the mid-market we continue to replace lower-end planning systems that customers outgrow as their needs evolve with the growth of their business.”
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Host Analytics is the leader in cloud-based financial applications for , , , and . Host Analytics Enterprise Performance Management (EPM) customers benefit from improved business agility, lower total cost of ownership, faster time to value, increased security, and a faster pace of innovation compared to traditional 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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Tony Keller
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