Global Mid Size Manufacturer using Host Analytics
September 26, 2015

Global Mid Size Manufacturer using Host Analytics

Greg Rasmussen | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Modules Used

  • Consolidation, Budgeting

Overall Satisfaction with Planful (formerly Host Analytics)

Selig Sealing Products is using Host Analytics for financial reporting and consolidations for 4 locations (domestic and international). This includes both management reporting and statutory reporting (including local GAAP requirements). In addition, Selig is using the Budgeting and Forecasting application for the annual budget process.

Selig converted a cumbersome and manual Excel based process to a more efficient process with better data integrity through the use of Host Analytics.
  • Easy to load or consolidate data from different ERP systems into a common chart of accounts.
  • Allows us to manage the payroll budget process very effectively by allowing the department managers to just focus on staffing on not worry about all the other related payroll costs.
  • Provides a flexible and robust financial reporting platform.
  • Although the reporting functionality is very good, they could improve the report formatting capabilities.
  • This is a minor nuisance, but it would be nice if they allowed us to report the exchange rates that are entered into the exchange rate table. Instead, we have to load the rates into the system twice, once for the foreign currency translation process and once for the disclosure of the rates in our reports.
  • The system performance in Europe could be better.
  • It has significantly reduced the time to perform the monthly reporting and consolidation process.
  • It has allowed us to improve the integrity of the data in the budgeting process.
Host Analytics provides similar functionality without the hardware and software maintenance requirements. As a mid size company, it also provided a more cost effective solution for us.
It does a great job of handling multi-currency, multi-location financial reporting and consolidations.

Planful Feature Ratings

Long-term financial planning
Not Rated
Financial budgeting
9
Forecasting
9
Scenario modeling
9
Management reporting
9
Financial data consolidation
10
Journal entries and reports
9
Multi-currency management
9
Intercompany Eliminations
9
Minority Ownership
Not Rated
Local and consolidated reporting
9
Detailed Audit Trails
10
Financial Statement Reporting
9
Management Reporting
9
Excel-based Reporting
Not Rated
Automated board and financial reporting
Not Rated
XBRL support for regulatory filing
Not Rated
Personalized dashboards
Not Rated
Color-coded scorecards
Not Rated
KPIs
Not Rated
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
Flat file integration
9
Excel data integration
8
Direct links to 3rd-party data sources
Not Rated

Using Planful (formerly Host Analytics)

1215 - Finance, General Management, and Operations
2 - 
  1. System usage
  2. Reporting writing
  3. Account and data structure maintenance
  4. Budget template development
  5. Data load methods
  • Management Reporting
  • Budgeting
  • Financial consolidations & foreign currency translation
  • Cash flow reporting
  • Strategic planning
  • Financial modeling
  • Rolling forecasts
A solid product that performs exactly what we need it to do.

Evaluating Planful (formerly Host Analytics) and Competitors

Yes - Excel; it was a manual process which was susceptible to errors and contained no audit trail or work flow functionality.
  • Price
  • Product Features
  • Product Usability
  • Third-party Reviews
We looked for a product with a high degree of integration between financial reporting, budgeting and forecasting, and analytics.
We would not change the evaluation and selection process.