SaaS Consolidation & Reporting Webinar
This video is from the Proformative webinar "Technology Webinar Series: SaaS
One of those nagging problems that never seems to get any easier is the close. Fortunately, there are solutions available that can help finance organizations not only close more efficiently, but more accurately as well.
This webinar showcases Host Analytics' cloud based close and disclose application. It highlights how pre-built financial and accounting intelligence in the cloud can reduce the time to close and allow for more analysis and fact-based decisions. With Host Analytics' application companies can:
- Improve internal controls on producing financial statements
- Consolidate across multiple entities,
- Seamless disclosure management, budget and forecasting
SaaS Consolidation & Reporting Webinar
Thank you, John. Thank you to everyone that's attending today's session for Cloud based Consolidations and Reporting. With that said, again, John introduced myself. I come from the world of working in the office of finance, did it for a little over 20 years until I moved over to the other side of trying to help organizations like yourself become more efficient, essentially. With that said, I was going to start out with a couple different slides. I'll tell you all the cloud and the benefits associated with that. Then, we'll walk ourselves into a product demonstration of what
There we go. What I usually like to start out with is talking about what the cloud is not. Let's start off. I come from a world of an on-premise solution. When I first heard about Cloud solutions, or SAAS, software as a service, as it's known, I was a bit skeptical at first. If you think about all the different companies that are out there already on the cloud, something like [inaudible 01:24] or Salesforce.com, or if you do your banking online, you're doing everything already in the cloud. The infrastructure that's already out there, versus an on-premise, versus a SAS based solution, you can see the cost benefits associated with that.
From an on-premise solution, you're installing all the hardware, all the software, as security updates come out through your current vendors or solutions that you are currently using. That takes time. It takes effort. It takes money. It's very complex, very complicated, long. If I go back to my days of when I used to do this, I did on-premise solutions, applied the different security patches, and then have to go to each and every one's machine to apply those patches. Very time consuming. Again, I worked in finance, so I understand most organizations run very lean and mean. I wore more than one hat at any given time. Okay?
Let's talk about what the cloud is. As you can very clearly see, the cloud is basically where everything you do today is stored behind the scenes. We do it up in the cloud. If it's your infrastructure, the hardware, the software, we do it all for you. The only thing you really have to do is if you have access to the Internet, sign in anywhere, anytime, based on your security rights to access that application. It's as simple as that, it's 24/7 shop. There we go.
As I mentioned before, a number of companies that have already been established in cloud for probably a little over 10 years, something as
Here we go. When we talk about the cloud, one of the mistakes about it is that some people believe it's not safe. It's not secure. It's totally the opposite. We go above and beyond what's required from a
What I'd like to show you now is, this is the basic of what the cloud is, going forward. What does the Host Analytics
Editor's Note: Take a look at Proformative's many other recorded webinars, such as: Business Analytics For Corporate Finance Webinar, Corporate Financial Planning Webinar, Career Networking Webinar, Budgeting & Planning Webinar & Netsuite Webinar.
When people talk about the data integration, it comes from any data source, regardless of where your data resides. Whether it's in an Excel spreadsheet, and ERP system, a Legacy system, disparate systems all across the world, we can connect to it; whether it's manual, automatic. Okay? It also means I don't have to worry about any of the stuff that's under this rainbow, all the infrastructures we discussed prior, any hardware, the software. That's all done behind the scenes. All you need to do is learn how to connect to the internet. We do that on a daily basis. I'm always on my most recent version of the software. Any patches, any functionality, updates, we do that all behind the scenes. You'll never again have to budget for a system upgrade. You can take full advantage of any new features and functionality, immediately. There's no reason to wait.
With an on-premise software, customers get [inaudible 06:05] on past versions. They're forced to upgrade to get new functionality. The upgrades can cost as much as the initial implementation of the software. You may have to do multiple upgrades to catch up. I used to use Hyperion Enterprise. I was on version 1.82 at one point. I'd go from 1.82 to the latest and greatest version, release after release. I couldn't jump from one to the next. Since last year, we've delivered the new products, usability, and performance improvement, as well as over 200 feature enhancements. A lot of these feature enhancements come from existing customers today.
Proceed to go a little further here; there we go. From an applications standpoint, the only things that you need to worry yourselves about is from an input template standpoint. Whether you're doing your budgets or your forecast, we provide the tool or the interface for your users to enter information from a budgeting or forecasting standpoint. Then, we can also do some of the modeling. Eventually, everybody needs to do the reports. You don't have to do it all down in Excel. You do all the reports inside of the Host Analytics application. It's one-stop shopping. That's the beauty of what I really truly like, versus where I came from.
On-premise solutions, you're buying stacks and stacks of different applications. It's your job to put them all together. You have information that resides in multiple systems. That one question that you always have to ask yourself from a consolidations point, we're talking about one version of the truth. With Host Analytics, you can achieve [inaudible 07:40] effectiveness, and at the same time, guaranteed that the information is one version of the truth. With that said, let's go ahead and get the demonstration portion of today's presentation started. Okay.
When you first sign in to the application, just so I can set the real estate or at least orient your cell. What you're seeing here is I'm signing in as myself. Across the top of the screen is what we refer to as our different ways to interact within the one application. One single sign on signs on, based on your security rights, via the web. What we're looking at here is we have the ability to do budgeting, forecasting, top down/bottoms up approach, however you like to do it, or a combination thereof. We're not going to focus today's demonstration on budget, but we're going to focus more on the consolidations, the reports, and where we currently reside in our scorecard. This maintenance window is mostly used for the administrative, typically one or two administrators in your organization today.
We're going to focus our attention more on the scorecard. Some people refer to this more as your dashboard. When I started my job on a daily basis, I wanted to understand what were the key metrics that were driving my business, or where the consolidations stood, in terms of its completion process. This is our dashboard, as some people like to say. Even at Host Analytics, our CFO Kelly Battles [SP], she uses this on a daily basis to understand not only where she sits at the top of the house from a consolidated standpoint, but she wants to understand all the different drivers from a departmental standpoint, to understand what's driving the business. Where are we at; and where do I have to pay a little bit more attention to understand, to drive that business a little bit better?
Everybody likes a little picture. Everybody likes a quick understanding of where, dynamically, we sit, in terms of completion. The users can design this however they see fit.
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