Advanced Energy Industries Upgrades to Cloud EPM With Host Analytics
June 25 2014 - 10:00AM
Marketwired
Advanced Energy Industries Upgrades to Cloud EPM With Host
Analytics
Leader in Power and Control Technologies Migrates off On-Premise
Software for Greater Financial Planning Capabilities
REDWOOD CITY, CA--(Marketwired - Jun 25, 2014) - Host Analytics,
the leader in cloud-based enterprise performance management (EPM),
today announced that Advanced Energy Industries, Inc., a global
leader in innovative power and control technologies for
high-growth, precision power conversion solutions, has achieved
dramatic improvements in the efficiency and transparency of key
financial processes in using the Host Analytics Cloud EPM
Suite.
A full case study detailing Advanced Energy's experience with
Host Analytics can be found here: http://ow.ly/yq16r
Advanced Energy moved to the Host Analytics suite because of the
inefficiencies of using an outdated, on-premises enterprise
performance management system. The company chose Host Analytics
after three months of research and demonstrations.
In searching for the right EPM solution, Advanced Energy looked
for a cloud-based solution that would reduce costs and dependence
on IT resources. Most importantly, it needed a solution that could
be quickly implemented before its annual planning process and
offered a Microsoft Excel-like user interface that would be
familiar to all employees in the financial department.
"We knew that our software was no longer a viable option, but we
wanted a solution that would be easy for our staff to quickly
adopt," said Lianna Gerrish, corporate finance manager, FP&A.
"We were able to keep the same processes and templates. No one
needed to learn a new way to forecast, just a new way to
navigate."
In seven short weeks, the Host Analytics team was able to train
150 Advanced Energy users to navigate and utilize the Host
Analytics EPM Suite. After implementing the system, Advanced
Energy's finance team cut time spent on planning and forecasting by
71.8 percent in the first year alone. "Every cycle, the
time-savings increase as we automate more and more of the process,"
Gerrish says. "Because we're not bogged down with the day-to-day
management of our system, we're able to work on projects directly
with the business."
Advanced Energy uses the Host Analytics suite across all levels
of the organization, from the finance team to VPs. Executives use
the executive reports to gain instant access to key performance
drivers. They also report significant improvement in the financial
team's ability to incorporate acquisitions into the planning
process.
"At Host Analytics, we see many customers struggling with
outdated, on-premises software issues including increased costs for
updates and constant reliance on IT consultants," said Alison
Holmlund, VP of Customers For Life at Host Analytics. "For us,
it's about helping to make the financial planning process as
efficient and successful as possible and to give valuable time back
to the finance team. We're happy to alleviate this problem for
Advanced Energy and many other customers."
Follow @host_analytics on Twitter and suggested Tweet:
Click to Tweet: Advanced Energy Industries Upgrades to #cloud
#epm with Host Analytics http://ow.ly/ypPe4 via @host_analytics
About Advanced Energy
Advanced Energy (NASDAQ: AEIS) is a global leader in innovative
power and control technologies for high-growth, precision power
conversion solutions. Advanced Energy is headquartered in Fort
Collins, Colorado, with dedicated support and service locations
around the world. For more information, go to
www.advanced-energy.com.
About Host Analytics
Host Analytics is the leader in cloud-based financial
applications for planning, consolidation, reporting and analytics.
Host Analytics enterprise performance management (EPM) customers
benefit from improved business agility, improved security, and
lower overall cost compared to legacy 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 Become a fan of Host Analytics on Facebook:
https://www.facebook.com/HostAnalyticsInc Follow Host Analytics on
LinkedIn http://www.linkedin.com/company/host-analytics-inc. Follow
@host_analytics on Twitter
MEDIA CONTACT: Kevin Sugarman Email Contact GlobalFluency
408.677.5311
Advanced Energy Industries (NASDAQ:AEIS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Advanced Energy Industries (NASDAQ:AEIS)
Historical Stock Chart
From Jul 2023 to Jul 2024