REDWOOD CITY, CA -- (Marketwire) -- 03/05/13 -- Host Analytics, the leader in cloud enterprise performance management (EPM), today outlined several industry milestones. The Company's increased momentum is driven specifically by strong financial results, continued customer successes, and recognition from key industry watchers and research firms.
The company more than doubled revenues in 2012 with enterprise customers turning to Host Analytics to increase business agility while lowering total cost of ownership compared to legacy on-premise EPM suites. Average Selling Price grew by 45% in the fourth quarter as prospects recognized the benefits of speed, accountability, and insight that the Host Analytics cloud EPM suite delivers. Existing customers extended their success with cloud EPM, with upsells to existing customers growing by 78% in 2012. Additionally, Host Analytics took in $17M in growth funding to accelerate its continued transformation of the EPM market.
"Finance organizations are embracing enterprise performance management as it is a centerpiece for optimizing business activities and processes," said Mark Smith, CEO and Chief Research Officer at Ventana Research. "Host Analytics continues to provide quality applications for finance to manage performance through its cloud computing offering which is why we provided our highest rating as a Hot Vendor in our 2012 Value Index for Financial Performance Management."
The company has added a number of name-brand enterprises to its customer list recently, including Acciona Energy, Crabtree & Evelyn, Method Products, Time Warner Cable, WD-40 Corporation, and many more. The company has also built a strong presence in the high-technology sector with many of the fastest-growing high-tech companies choosing Host Analytics including: Apigee, Angie's List, Aria Systems, Five9, Groupon, Glam Media, Marketo, MarkLogic, NComputing, Ping Identity, Splunk, SuccessFactors, Talend, Tesla Motors, Zoosk, and many more. In addition, the company expanded its international presence into Asia-Pacific after launching its UK distribution strategy last spring.
"We've hit escape velocity," said Dave Kellogg, CEO at Host Analytics. "Finance departments are realizing that the cloud is simply a better way to deliver enterprise performance management and as a result, we're seeing market demand like we've never seen before. Host Analytics has the three key ingredients to do for EPM what salesforce.com did for CRM: happy customers, a strong market position, and a complete, market-leading suite of products."
The company, its customers, and its products achieved significant industry recognition in 2012, including the Ventana Research 2012 Leadership Award, and the AlwaysOn Global 250 and OnDemand Top 100. The company was also named a Core Vendor by BPM Partners.
Most recently, Gartner 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."(i)
For a complimentary copy of the 2013 Magic Quadrant for Corporate Performance Management Suites, please visit http://ow.ly/hJqb7.
Host Analytics delivers frequent innovations to the EPM market, providing quarterly updates to customers automatically in a seamless, cloud-based process instead of the traditionally painful and expensive upgrade processes associated with legacy, on-premise EPM software. In 2012, the company introduced hundreds of new features, as well as, new offerings including Host Analytics Dynamic Reporting and Host Analytics Business Analytics. The company also introduced new packaged cloud connectors for popular back-office systems including Oracle, Microsoft Dynamics AX and Dynamics GP, Epicor Enterprise, Intacct, NetSuite, Plex, JD Edwards and SAPByDesign.
In order to continue delivering such product innovations, the company recently announced a $10M investment in its Hyderabad-based development center and the appointment of a new general manager, Anurag Garg, for its India operations.
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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, 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, WD-40, and Time Warner Cable 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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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.
(i) Gartner "Magic Quadrant for Corporate Performance Management Suites, 2013" by Christopher Iervolino, John E. Van Decker, Neil Chandler, [02/14/2013].