REDWOOD CITY, CA--(Marketwired - Jun 28, 2013) - Cloud-based financial application provider Host Analytics today announced a new migration program that assists organizations in moving from Hyperion's on-premises financial management systems to Host Analytics. The new program cuts migration time and expense in half, enabling businesses to quickly take advantage of Host Analytics benefits including increased business agility, instant quarterly application updates, faster response to new compliance requirements, easy what-if analysis, and a 75% reduction in the total cost of ownership.
The migration package and associated consulting services simplify the process of moving from Hyperion Enterprise, Hyperion Essbase, Hyperion Planning, or Hyperion Financial Management to Host Analytics integrated planning, close management, reporting, and analytics suite. The program leverages tools and processes developed over the last 12 months during dozens of migrations between the Hyperion and Host Analytics platforms, providing:
- Hyperion-specific import tools that enable existing data models, templates, and reports developed across Hyperion platforms to be transferred directly into Host Analytics
- A standardized methodology reflecting best practices identified during previous migrations
- A training program designed by Host Analytics consultants with years of Hyperion experience to assist end users transitioning from legacy Hyperion platforms to Host Analytics
"Statutory consolidation software is important to managing a clean and efficient close process. Corporations that do not use dedicated consolidation software should investigate using it," said Rob Kugel, CFA, SVP and Research Director at Ventana Research. "And, while software doesn't physically wear out, over time modifications and workarounds may degrade the system's performance. Companies that implemented their consolidation system more than six years ago should determine if it still addresses their needs."
The new migration program was created to support the increasing number of organizations transitioning from Hyperion to Host Analytics. Migrations are often driven by a combination of factors, including a desire to be more agile, ensure regulatory compliance, modernize financial processes, and reduce dependence on scarce IT resources. The migration typically pays for itself in the first year by eliminating software maintenance fees as well as most external consulting and in-house IT support needs. It also costs less than expensive Hyperion upgrades which frequently require enablement fees, new hardware, consulting services for migration and reimplementation, and lengthy testing cycles. Finally, some organizations have fallen behind on upgrades to their Hyperion applications, and are facing a challenging and expensive upgrade process just to bring those deployments up to date.
"Migrating to Host Analytics allowed us to streamline our planning and consolidation processes and empower more users with information," said Roger King, Corporate Controller at SkyGolf, the makers of SkyCaddie, the #1 range-finder in golf. "Our goal in Finance is to provide quality services without placing unnecessary demands on our company resources. We now have the same functionality in the Cloud without the investment in hardware and software, and our IT team can stay focused on products and customers."
"Understandably, businesses that want to move their financial applications to the cloud may have concerns about making a smooth transition," said Dave Kellogg, CEO at Host Analytics. "The migration tools and technology we have developed dramatically accelerate the process for businesses with legacy Hyperion systems, ensuring a seamless and successful switch that will pay off in improved functionality, lower costs, and a system that Finance can own without heavy dependence on scarce IT resources."
The Host Analytics EPM suite helps mid-sized and large businesses transform how they deliver insight, drive accountability across the enterprise, and streamline and accelerate fragmented and complex planning, close, and reporting processes. The suite also offers easy management by Accounting and Finance professionals that reduces dependence on IT and consultants; state-of-the-art security; no hardware or software to procure and maintain; and the ability to instantly use new features without waiting for on-premises upgrades.
To learn more about Host Analytics Hyperion Migration Program, please visit: http://ow.ly/m9Muc
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About Host Analytics, Inc.
Host Analytics is the leader in cloud-based financial applications for planning, close management, 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, and Crocs 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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