iCIMS is a cloud-based recruiting software company that's dedicated to helping companies source the best talent available.
They have one of the leading software platforms for recruiting, as well as an award-winning customer service team, which has led to iCIMS being a market leader in their industry. Due to their highly sought after services, their business was growing rapidly, and in 2015, they gathered roughly 1,000 new customers.
iCIMS Was Having Trouble Keeping Up with Their Growth
iCIMS was growing quickly, and it was becoming increasingly difficult for the financial team to keep up. The financial team was relying on Excel for forecasting, and they were rapidly pushing the limits of what Excel could manage. The forecasting process was starting to become tedious and needlessly lengthy, which was worsening with each new customer they acquired.
In addition, Jim Perry, the senior manager of finance and business intelligence, was battling poor data integrity, while reconciling multiple versions of the truth. This inevitably created confusion and made it difficult to rely on the numbers. Jim realized that in order to continue to push ahead as a company, they needed a more reliable approach to conquering forecasting, so they could rely on their data and improve their decision-making.
iCIMS Turned to Host Analytics' Cloud EPM Suite
In search of a solution to their financial forecasting difficulties, iCIMS decided to turn to cloud-based enterprise performance management(EPM) software. Some of the main things they were seeking included:
- A highly secure platform that would keep financial data protected,
- An integrated cloud-based platform that would facilitate the complete budget cycle,
- And the ability to use spreadsheets as a front-end, since the company was currently relying on spreadsheets.
Host Analytics' Cloud EPM Suite was able to support all of these requirements, offering a complete software platform to help with everything from financial close, reporting and planning, to analytics.
Since implementing cloud-based EPM software, iCIMS has experienced a variety of changes in their financial process. They've significantly improved the reporting and closing process using the Host Analytics' Financial Package Publisher (FPP), which allows them to combine source documents and financial data into PowerPoint presentations. They can now conquer board reports in just a few hours, which is a substantial improvement from their previous approach, which took upwards of four days.
How iCIMS Has Benefited from Cloud-Based EPM
They've also found that the intuitive dashboard design of the software coupled with the efficient integration of company data has led to a streamlined financial planning and analysis process. As a rapidly growing company, cloud-based EPM has provided them with the agility their dynamic company needs to complete the budget cycle efficiently and achieve greater accuracy with their data. Host Analytics' Cloud EPM Suite also provides unparalleled security, which has kept their financial data safe.
For rapidly growing companies like iCIMS, relying on spreadsheet forecasting is not only tedious but also riddled with inaccuracies. As a company grows, the ability to manage finances in Excel becomes increasingly difficult. Host Analytics' Cloud EPM Suite provided the ideal solution for iCIMS, not only improving the speed and agility of financial planning and analysis, but also greatly enhancing the quality of data and accuracy of their forecasts.