Leading EPM provider, Host Analytics allows customers to improve productivity, efficiency and the number of opportunities available to a business.
The cloud-based EPM solutions provider recently released a study called ‘The Total Economic Impact of Host Analytics’, delivered by independent research business, Forester Consulting. The results suggested that Host Analytics provides $1.2 million in benefits over a three year period a total return on investment measuring nearly 400%.
The study covered a range of businesses, with many highlighting the considerable value they have gained from using Host Analytics. The platform has enabled many businesses to deliver new initiatives that generally would involve the support of five additional professionals. The equivalent increased productivity and financial planning potential and analysis of staff measures to over $730 in savings over a three year period.
Aside from the benefits to the finance side of a business, the research showed a considerable impact on overall business performance, with improvements in operating income due to enhanced decision making. One respondent highlighted that the believed the biggest change was a shift in their focus from looking behind to looking forward to the future.
Ron Baden, chief executive officer at Host Analytics explains that they always believed the platform provided great value to customers and the latest study has placed a specific value to support this claim. Baden highlights that many financial professionals are seeking to improve and modernise how they perform jobs and to increase collaboration with other colleagues, and this is exactly what Host Analytics provides.
For this study, Forrester Consulting provided its Total Economic Impact methodology, interviewing active Host Analytics customers to measure cost, benefit, flexibility and risk factors that influence overall investment choices. Survey respondents were selected from a range of industries, from social media to manufacturing industries.
The study revealed several other significant benefits of Host Analytics:
Improved Scenario Planning – The system offers improved integration of data sources, enhance measurement of business spend and other features which support better scenario planning.
Efficient book closing – Host Analytics allows businesses to close their accounts quicker at the end of financial periods, opening up available staff time to focus on planning, process improvement and other critical business activities.
Retaining Employees – Host Analytics removes the time and effort required within financial processes, resulting in improved job satisfaction.
The Total Economic Impact of Host Analytics study contains details of each business interviewed, the main challenges facing each business prior to implementing Host Analytics, and in-depth cost analysis along with the benefits and return on investment.