We use cookies and other similar technologies (Cookies) to enhance your experience and to provide you with relevant content and ads. By using our website, you are agreeing to the use of Cookies. You can change your settings at any time. Cookie Policy.

Host Analytics Decision Platform Announced

Originally published February 10, 2010

Host Analytics recently announced the Host Analytics Decision Platform, an exclusive suite of tools allowing financial and operational leaders to "see the full implications of decisions both the risks and rewards." In related news, Host Analytics announced the results of a nationwide quantitative survey revealing the highest priorities of finance leaders.

The foundation of the Host Analytics Decision Platform is an industry-leading budgeting, planning, and consolidation suite. Users easily integrate data from virtually any institutional source to monitor and evaluate organizational health and progress. While this alone satisfies important needs and is the traditional definition of Corporate Performance Management (CPM), improved decision making requires additional integrated functionality. Host Analytics integrates five novel components to extend traditional CPM visibility to operational action. Easy-to-use Smart Templates, Modeling, and Strategy Management tools let leaders visualize the impact of decisions to align goals and coordinate execution. To provide unprecedented rigor and certainty, benchmarks and external content allow decision makers to easily incorporate the universe of web-based information from current rates to economic indicators to publicly available peer-organization benchmarks and more to evaluate likely outcomes. The software-as-a-service (SaaS) model employed by Host Analytics is critical to practical incorporation of benchmarks and external content into time-critical operational decisions.

Supporting understanding of the value of a complete Decision Platform are recent results of a nationwide survey of Finance leaders sponsored by Host Analytics. The goal of the study was to understand Finance professionals' highest priorities. Qualitative research completed in preparation for the quantitative study comprised numerous hour-long, one-on-one interviews with Finance leaders. These interviews framed the leading priorities for quantitative validation. This initial research exposed four ultimate priorities: elevate the role of finance from tracking history to driving future activity, improve fact-based decision making, provide visibility into organizational performance (i.e., traditional CPM), and work whenever possible with vendors who understand the Finance function.

Quantitative validation came via a nationwide, web-based survey incorporating data from 664 respondents. While 32% of respondents were CFOs and 62% from companies with revenue greater than $100 million, the group was designed to be broadly representative. Using multiple approaches, respondents selected their highest priorities for Finance departments. A convincing 60% selected "improve decision making" as the top priority with an overwhelming 85% selecting it as first or second priority. Placing second was "elevate the role of finance" with 25% selecting it as the top priority and 65% selecting it as either first or second priority. Surprisingly, only 13% selected the "provide visibility into organizational performance" typical of traditional CPM as their top priority and only 38% selected it as either first or second priority, making this only the third highest priority for Finance departments.

"We've always believed financial data is critical to great decisions," said Jon Kondo, Chief Executive Officer of Host Analytics. "From our founding, we designed tools to support operational decision making with financial information. Now, with the introduction of the Host Analytics Decision Platform, we take the next step in supporting finance leaders as they secure their seat at the decision-making table."

This BeyeNETWORK news item contains information from a recent press release by the company mentioned.