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Leading International Food Manufacturer Implements Host Analytics for More Flexible Budgeting and Planning
The Bama Companies Standardize on Host Analytics to Perform Sophisticated "What-If" Analysis of Potential Business Decisions
| Source: Host Analytics
REDWOOD CITY, CA--(Marketwire - March 16, 2010) - Host Analytics, the leading provider of
cloud-based financial performance management solutions, today announced
that The Bama Companies, Inc., a leading international manufacturer of
proprietary dough products and baked goods, has implemented the Host
Analytics Budget and Host Analytics Revenue Planning applications. Bama,
whose hand-held pies, biscuits and pizza crusts are sold internationally,
will use Host Analytics' web-based tools to understand the full financial
impact of business decisions, both risks and returns, before they're made.
Bama products are used by many of the world's leading fast food and casual
dining chains. Serving this market is complicated, given fluctuating
demand for product and significant staff, equipment and factory costs. On
a regular basis Bama's finance team analyzes these variables and forecasts
the impact of potential changes on budget. Bama finance professionals use
Host Analytics Budget to perform this "what-if" analysis and results are
generated in near real-time. Scenario data prepared by Host Analytics
Budget is used by Bama finance execs to understand the variables that drive
future profits and by senior management to make fully informed business
decisions.
Prior to deploying Host Analytics, Bama was using a home-grown budgeting
system. The switch to Host Analytics was prompted by the need to do
rolling budget forecasts and the desire for more automation, increased
ease-of-use, and more sophisticated scenario planning functionality. Bama
considered a wide variety of financial performance management solutions,
including on-premise and other Software-as-a-Service products. Host
Analytics was selected for its power, flexibility, ease of use and cost.
Along with Host Analytics Budget, Bama is using Host Analytics Revenue
Planning. Divisional sales leaders use the system to forecast revenue,
which seamlessly feeds into the overall finance plan. This integration
between finance and operations means sales managers can assess sales
productivity and finance can understand whether the company will make its
revenue goals.
In addition to being flexible, Bama needed a budgeting solution that would
be easy to administer, with as little support as possible from IT. The
decision to use Host Analytics was made by finance and IT together, but
finance owns the system so it had to be highly functional without being
overly complicated. The Excel-like templates within Host Analytics Budget
and Host Analytics Revenue Planning are interfaces with which Bama finance
and sales staff are comfortable, which helped make the transition process
smooth. The applications are delivered "in the cloud," so Bama workers can
access the system any time, any place.
"We needed a set of tools that were powerful as well as flexible," said
Kimberly Joyce controller and director of finance at The Bama Companies.
"With Host Analytics Budget we can do scenario planning in 15 minutes and
have the answers we need in record speed. Instead of basing decisions on
gut feel we know precisely what will be the impact on budget if we move
product production from one plant to another, for example. We can review
scenarios a hundred different ways, which leads to more strategic business
decisions."
About Host Analytics
Host Analytics helps executives see the full implications of decisions --
both risk and reward. Our leading on-demand corporate performance
management solution helps financial executives improve budgeting, forecasting, financial consolidations, dashboarding, scorecarding, reporting and analysis. Most
importantly, it helps drive fact-based decisions based on sound financial
justification. Host Analytics delivers its product suite using Software as a Service (SaaS) on-demand delivery to increase security
while reducing cost and deployment time. Founded in 2000, Host Analytics
serves enterprise, large, and midsize companies across industries,
including industry-leading companies JP Morgan Chase, Procter & Gamble,
Otis Spunkmeyer, Pitney Bowes, and Red Roof Inn. Host Analytics was
included in JMP Securities' prestigious "Hot 100: The Best Privately Held
Software Companies" and was the recipient of the Best of SaaS Showplace
Award from market research firm THINKstrategies. For additional
information, visit http://www.hostanalytics.com/ or call (314) 588-2121.
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