Cloud corporate performance management (CPM) is a niche subset of traditional CPM that was created when cloud computing began to be a major aspect of the day-to-day business processes of many enterprises. So naturally, it’s an industry that has seen impressive growth over the last year.
Host Analytics, one of the world’s premier cloud CPM companies, recently announced record company and customer growth for the first half of 2012, including revenues from Q2 that were 2.2 times higher than the same period in 2011. The company claims that its growth was spurred by a healthy mix of customer demand, product innovation and global expansion. Of course, it also conceded that a continued market trend toward cloud computing helped a bit.
In the first half of this year, Host Analytics saw a 25 percent increase in customer growth, including notable names such as Casual Male, Splunk, Angie’s List, Zoosk and more. This influx of new customers encouraged the company to expand globally, as well, opening an office in the U.K. and increasing channel sales to include Australia and New Zealand. It even grew internally, adding 12 percent to its employee headcount in just six months.
Most importantly, Host Analytics has brought a lot to the industry in the form of new product innovations. This includes the new Host Analytics Business Analytics toolkit for finance that combines CPM and business intelligence (BI) in a single solution. It also released new features in its CPM suite for dynamic financial reporting, as well as an updated interface that provides more intuitive control.
The success of Host Analytics, in conjunction with its innovative additions of cloud CPM services, seems to point toward big things for this burgeoning industry. Enterprises looking to harness the cloud for their businesses should look into how they can benefit from using a cloud CPM solution.