Financial Services Provider Check Into Cash Cashes in Spreadsheets for Consolidated Budgeting Application from Host Analytics
Spreadsheet Issues Eliminated with Host Budget at Major Retail Company
St. Louis, MO. (PRWEB) February 1, 2007 -- Host Analytics, the leader in on-demand Business Performance Management software solutions, today announced that Check Into Cash., a leading payday advance services company is using Host Budget to simplify their budgeting and planning process.
Check Into Cash is a privately held company with over 3,000 employees and more than 1,200 locations nationwide. The company uses a bottom up budgeting model where managers of each retail location are required to submit their annual budgets. With over 1,200 locations and approximately 60 people involved in the budgeting process, spreadsheets became cumbersome and time consuming. The company turned to Host Analytics to simplify the budgeting process with a centralized budgeting solution where each store has the ability to submit their budgets. Upper management then has the ability to make adjustments and send updated budgets back to each manager.
"After evaluating software from multiple vendors, we selected Host Analytics for their cost-effective pricing, full-featured offering and their ease of use," said Robert Sindler, senior financial analyst for Check Into Cash. "The adoption of the software has been high with our users due to the software's easy-to-use templates that look and act like Excel."
Goals and projections are provided from upper management to each budget manager then the budget manager will modify the data in their operational budget. The submitted budgets contain operational line items such as headcount, individual expense and revenue accounts, as well as expense and revenue drivers. As a result of Host Budget, Check Into Cash has been able to shave 50-75% off of their budgeting time giving management more time for review and analysis of the final budget.
"Spreadsheet hell isn't anything new, and resonates with companies of all sizes," said Jim Eberlin, chief executive officer at Host Analytics. "Recent studies still confirm that companies of all sizes are still using spreadsheets for budgeting and planning, however, spreadsheets are no longer sufficient for running a business. Our mission is to help our customers break out of spreadsheet hell by giving them access to a single budgeting repository that integrates with their general ledger and other financial systems."
Check Into Cash plans on moving toward a rolling forecast budgeting model in the near future and will look to Host Analytics to support their next initiative.
About Host Analytics
Host Analytics is the On-Demand leader for Business Performance Management software that helps companies improve their Budgeting, Forecasting, Financial Consolidations, Dashboarding, Scorecarding, and Reporting and Analysis. Founded in 2000, Host Analytics delivers a complete suite of Business Performance Management software offered as an on-premise solution or software-as-a-service solution. Host Analytics serves small, medium and large size businesses around the world. For additional information, visit www.hostanalytics.com or call (314) 588-2121.
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