Technology companies look to the host analytics suite of on-demand software to improve business performance.
Host Analytics, the price, performance leader in Business Performance Management software solutions, today announced that SigmaTel, a fabless semiconductor company is using Host Analytics to improve their budgeting, financial consolidations and workforce planning.
SigmaTel is a semiconductor company that designs, develops, and markets analog intensive, mixed-signal semiconductor solutions for a wide range of digital multimedia products in the consumer electronics and computing markets. SigmaTelâ€™s goal was to create a streamlined, global budgeting, planning and consolidation model which includes top-down and bottoms-up budgeting and planning while providing employees with visibility to their performance against strategic corporate goals.
After evaluating multiple budgeting, planning and financial consolidation solutions, Host Analytics was selected to provide SigmaTel with a Business Performance Management solution that would adapt to the fast-paced changes of their business model.
SigmaTel is using Host Budget, a Web-based budgeting and planning application which provides a single repository for budgeting and planning information. The Excel-like interface enables managers of profit and cost centers to view their budgets, route proposed changes to upper management, and view actual-to-budget variances in real-time. The company now has a quarterly budgeting process where managers have full accountability and control with an audit log generated each step of the way.
â€œWe selected Host for two primary reasons â€“ the ability to provide SigmaTel with performance management software-as-a-service, and their mid-market pricing,â€ said Jeff Robinson, Senior Financial Analyst at SigmaTel.
In addition to Host Budget, SigmaTel is using Host Consolidator for financial consolidations. The company also uses Host Consolidator for intercompany eliminations and routine allocations, which offers an automated alternative to manual general journal entries.
â€œOur on-demand Business Performance Management applications enable SigmaTel to significantly reduce the time to budget, plan, forecast and consolidate their financials, allowing finance and other departments to spend more time on value-add analysis,” said Jim Eberlin, chief executive officer for Host Analytics. â€œOur solution was attractive to SigmaTel because we offered the option to host their solution for them (software-as-a-service) or deploy their solution on-premise.