Time to Scrap Your BPM Spreadsheets? - Page 2

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Like Adaptive Planning, it offers a single data repository to store financial and management reporting and users can drill down for detailed information.

Host Analytic's modules consist of budgeting and planning; revenue forecasting; financial consolidation; score carding and dashboarding; and reporting and analysis.

Better security with SaaS?

"A majority of companies manage their budgeting process by e-mailing spreadsheets around," Kugel said. "In practice, this is an inherently insecure process."

Still, while SaaS vendors like Adaptive Planning "understand the security concern and take steps to address it," Kugel warns that customers planning to use SaaS vendors should conduct "a thorough, ongoing check" to confirm that the vendors have the "right processes and certifications" to meet their security needs.