Budgeting, Planning & Forecasting

Budgeting, Planning & Forecasting

November 01, 2011

Host Analytics' SaaS CPM Solution Selected by Nextag

The Host Analytics CPM suite has been selected by Nextag as their preferred solution for enabling efficient budgeting and planning processes. Nextag will be also able to gain better insight into the financial effect of business decisions with the Host Analytics CPM suite. An announcement in this regard has been made by Host Analytics, the top provider of SaaS (News - Alert) corporate performance management. Nextag is a top comparison shopping website for products and services.

More than 30 million monthly customers are helped by the best-in-class search technology provided by Nextag. These customers are able to find the required products, prices and information with this technology at any time and any place.

In a release, Derek Yung, vice president of finance and strategic planning at Nextag said, “As a rapidly growing company, the ability to understand full effects of our investments is crucial. Like most companies, we had existing processes in place. The area we struggled with, however, was making sure those processes were thorough, error-free, and most importantly, efficient.”

 According to Yung, the organization had issues related to versioning. The use of spreadsheets for budgeting and planning also provided overall complexities for the organization. The first goal for Nextag now will be to streamline the process. The organization will then work on analysis, better decisions and improved performance.

Nextag selected Host Analytics after a thorough vetting of several other CPM providers. Host Analytics’ intuitive user interface and SaaS-based delivery method were instrumental for the selection. Host Analytics' CPM suite for budgeting and forecasting will be relied upon by more than 60 employees across Nextag. These employees will also rely upon Host Analytics' state of the art external reporting features.

Yung said, “We hadn't initially considered implementing a SaaS solution. But after seeing Host Analytics' technology, it was easy to see the benefits for Nextag. The speed of implementation and more simple design of the solution was an added bonus.”

Yung concluded that Nextag is relying upon the CPM suite from Host Analytics for many of the critical budgeting and planning processes.

In other news, Nextag recently announced the acquisition of Thingbuzz (Thingbuzz.com), a real-time social shopping platform that tracks the conversation about products in the social media sphere. Through this acquisition, Nextag will socialize the online shopping experience for its customers, bringing them personalized, timely new product information and promotions at point-of-sale.

Carolyn John is a Contributor to TMCnet. To read more of her articles, please columnist page.

Edited by Jennifer Russell

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