Host Analytics has introduced version 9.0 of its Web-based corporate performance management software, along with a discounted team edition that focuses on consolidations for midsized companies.
Version 9.0 performs currency conversions, such as pounds to U.S. dollars and euros, as well as some complex dynamic journal entries required by International Financial Reporting Standards. You used to have to do a calc script in Hyperion, said chief marketing officer Gary Damiano. Now you can just set it up by rules as opposed to having to set up programs to do it.
Budgeting enhancements include the use of dimensional attributes for reporting and modeling flexibility, and wizards to speed the development of templates and mapping.
Version 9 features enhanced Excel integration for dynamic access to actuals, budgets and forecast values for custom and ad hoc reporting and analysis. Extensibility has been enhanced to support SEC-required XBRL reporting through NeoClarus, Web services-based integration to enterprise resource planning, customer relationship management and human capital management data sources through Boomi, and custom reporting through Microsoft Reporting Services documents that can be run within the Host Analytics suite. Usability improvements include reduced process steps, task lists, wizards and Web 2.0-based toolbars and menus.
Host Analytics new Team Edition Financial Consolidation offering is designed as an alternative to using Microsoft Excel spreadsheets for financial consolidations. The software costs $58 per user per month, with a five-user minimum, but it only offers 15 key reports, as opposed to the 40 reports in the enterprise edition of the software, according to Damiano.
The company also plans to introduce online customer community and social networking tools on its Web site that will allow users to exchange ideas and best practices.
The company recently received a second round of venture capital funding totaling nearly $9 million, with StarVest Partners, one of the original investors in NetSuite, joining original investors Trident Capital and Advanced Technology Ventures. For more information, visit www.hostanalytics.com.
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