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Host Analytics Provides Stylesight the Right Fit for Budgeting, Reporting, Financial Consolidation NeedsStylesight Slashes Consolidation and Close Process in Half, Streamlines Financial Processes With Complete Host Analytics CPM Solutions (June 20, 2012)
REDWOOD CITY, CA -- (Marketwire) -- 06/20/12 -- Host Analytics, the leader in cloud corporate performance management (CPM), today announced Stylesight, the industry-leading global content and technology solution for professionals in the style, fashion and design sectors, is successfully using Host Analytics' CPM solutions to automate and streamline its financial processes. With the technology, Stylesight has replaced the use of traditional spreadsheets and slashed its close and disclose process by 50 percent, enabling its finance professionals the freedom to do more.
"With Host Analytics, we've streamlined the budget process so we can spend more time thinking about the implications of the information instead of concentrating on getting the numbers right," said Ken Stumder, controller at Stylesight. "For example, we can revisit the budget more often to spot emerging issues and change course if necessary. We used to do an annual budget and a midyear forecast, now we're doing updates every quarter and our near-term goal is to move to rolling forecasts -- which we view as highly achievable leveraging Host Analytics' system."
As Stylesight expanded globally, budgeting and financial consolidation became more complex, and the disadvantages of its manual processes more glaring. The company quickly made it a priority to seek out a new solution that would provide better financial reporting, better budgeting and better analysis.
Stylesight replaced its manual spreadsheet financial process with Host Analytics technology in 2010. The combination of flexible functionality, quick implementation, affordable pricing and SaaS delivery nicely fit Stylesight's requirements. Today, Stylesight is using Host Analytics for financial consolidation and budgeting, and plans to add more solutions in the near future.
"Businesses facing challenges from rapid growth is a common theme for our clients," said Jon Kondo, CEO at Host Analytics. "In order to truly keep pace with steep growth, executives often turn to finance for the insight they need to continue to succeed as a business. Host Analytics is the leader in cloud CPM. We provide customers like Stylesight with the ability to give timely, accurate and comprehensive insight into making better operational and financial decisions for our clients."
Host Analytics delivers the first and only complete suite of cloud CPM applications to help finance executives drive faster and smarter decisions throughout their organizations. The company's solutions cover planning, budgeting, scorecarding, financial consolidation and reporting.
Tweet this: @host_analytics helps Stylesight cut financial consolidation process in half, streamline finance http://brev.is/EMP3
Stylesight is the industry-leading global content and technology solution for professionals in the style, fashion and design sectors. Combining visionary trend forecasting and indispensable analysis with an online workspace designed to help analyze and anticipate the ever-changing marketplace, Stylesight brings value to designers looking for inspiration and more time to be creative, as well as managers looking for cost savings and ROI. Stylesight is headquartered in New York, London and Hong Kong, with additional satellite offices stationed in style capitals spanning the globe.
Find out why Stylesight is the fastest growing company of its kind, signing over 100 new companies around the world each month. Learn more at Stylesight.com and see what all the buzz is about.
About Host Analytics
Host Analytics is the #1 cloud corporate performance management company, providing the only complete suite for finance. Host Analytics helps organizations make better operational and financial decisions by streamlining and automating their consolidations, planning and reporting processes.
Over the span of a decade, Host Analytics has gone from pioneer to leader with their deep product functionality, world-class team and broad partner ecosystem. Thanks to the cloud, customers enjoy low costs, low risk and fast results that give them an edge and helps Finance gain greater influence in setting business strategy and operational priorities. Host Analytics is:
- 1st cloud corporate performance management solution;
- 1st to deliver external data integration;
- 1st to deliver a business analytics application built for finance in the cloud.
Host Analytics serves midsize to large customer organizations, including AT&T, Groupon, Crocs, Thule, Otis Spunkmeyer, Schumacher and Red Roof Inn. The company has received on-going industry recognition and was most recently recognized by AlwaysOn for the OnDemand 100 Awards and by Network Products Guide for its Hot Company Award.
Kulesa Faul for Host Analytics
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