Tidemark Introduces Industry’s First Enterprise Performance Management Applications Built for the CloudOctober 18, 2011 No Comments
REDWOOD CITY, CA and PALO ALTO, CA. – October 18, 2011 – Today, Tidemark introduced the world’s first Enterprise Performance Management (EPM) applications built for the cloud. Enterprises can now empower their employees to make better-informed decisions and to take the right actions to achieve their business goals wherever they go, from any mobile device.
The Tidemark Enterprise Performance Management Platform delivers real-time, risk-adjusted metrics management; strategic, financial, operational planning and forecasting; and profitability modeling applications. Today’s EPM applications hinder businesses from being able to harness the larger and more varied data sources in the modern enterprise due to their legacy, database-centric architecture and design for only sophisticated power users. As a result, today’s analytics are delivered too late and to the wrong people to be of actionable value. Tidemark’s new applications feature rich, pre-built functionality that enable enterprises to extract immediate value for actionable decision-making from large amounts of complex, dynamic data at a lower total cost of ownership (TCO) than proprietary solutions.
“Tidemark empowers business people to make better-informed decisions and take the right actions to optimize their performance in real-time,” said Christian Gheorghe, founder and CEO of Tidemark. “By shedding the shackles of their legacy on-premise analytic solutions, Tidemark customers are finally moving from the reactive guessing to real-time data-driven decision-making that is necessary to remain competitive in today’s volatile business environment.”
Series B Financing; Peter Currie and Phil Wilmington join Board of Directors
Tidemark announced that it had closed a Series B financing from existing investors Greylock Partners, Andreessen Horowitz and Dave Duffield, co-founder and co-CEO of Workday and founder of PeopleSoft, bringing the total amount raised to more than \$11 million. In addition, Peter Currie, president of Currie Capital, and Phil Wilmington, former co-president of PeopleSoft and CEO of OutlookSoft, have joined its board of directors. The board of directors also includes Aneel Bhusri, co-CEO at Workday and partner at Greylock Partners, and Ben Horowitz, partner at Andreessen Horowitz.
Introducing a New Breed of Performance Management – Built for the Cloud
Today, Tidemark announced the early availability of three flagship applications:
- >Metrics Management and Management Reporting: Business people can move from asking “what’s happening” to “why it’s happening” to “what should I do about it” in two clicks with automated explanations. Real-time monitoring and analysis of key performance indicators, key risk indicators and controls are available.
- Enterprise Planning: Strategic, financial and operational planning, budgeting, forecasting and analysis across all lines of business are unified for one version of the truth.
- Profitability Modeling: Users can produce full profit and loss reports by product, customer, supplier and channel to understand the detailed drivers of cost and improve margins – on the go.
Built on a Modern Technology Platform
All of the Tidemark applications run on Tidemark’s native cloud platform and share a common foundation:
- A user experience built for the Web with a pure HTML5 user interface that provides a native-quality, real-time collaborative experience that is the same across all devices, such as tablets and desktop Web browsers, with no plug-ins.
- A rich set of pre-built application components such as processes, goals, dimensions, KPIs, calculations, risks and controls that can be flexibly combined and configured by business people to build a wide variety of EPM applications across all lines of business, not just finance.
- A state-of-the-art elastic, parallel analytic computation engine that is not constrained by the relational model or rigid cubes and can operate over massive quantities of data in real-time across a wide variety of data sources including streams and text.
- Native cloud-based data integration with a large variety of connectors to cloud and on-premise systems for sourcing structured and unstructured data including PDFs, MS Office documents and blogs.
- A virtualized, multi-tenant, highly reliable infrastructure built on VMware technology running in a SAS 70 type II certified data center.
- Continuous innovation with seamless and automatic upgrades via SaaS model.
Early Customer Success
Early customer adoption includes Acosta Sales & Marketing, who is using Tidemark to link finance and operations by providing financial and operational information to managers throughout the company. Tidemark will also provide significant cost reductions for Acosta while providing them frequent innovation, neither of which are possible with their previous legacy EPM solution.
“Many companies realize that achieving business value requires taking the right actions at the right time. The information required to take actions now comes from a vast amount of structured and unstructured data found in disparate systems throughout the organization. Unfortunately, most organizations cannot access this information because they are burdened with huge maintenance costs and little innovation in their legacy products. Consequently, next generation analytical applications must be natively built for the cloud and support a mobile and social world,” said R “Ray” Wang, principal analyst and CEO at Constellation Research, Inc. “From what I’ve seen, Tidemark brings performance management applications to a broader category of users who need the right information at the right time on the right security model and delivered on the right form factor when dealing with large volumes of structured and unstructured data.”
Leading Technology Partners Across the Stack
Tidemark is teaming up with industry leaders, including:
- SnapLogic: Tidemark and SnapLogic Form Strategic Alliance to Bring Web Scale Integration to Big Data in the Enterprise
- Cloudera: Tidemark Partners with Cloudera to Empower Business People With Enterprise Performance Management Applications For Big Data
- VMware: Tidemark selects VMware vCloud® Technology for Enterprise Cloud Backbone
Pricing and Availability
Unlike traditional analytics products that require millions of dollars up front before any value is realized, Tidemark EPM applications are available today via a pay-as-you-go subscription model and can be deployed in a fraction of the time of legacy systems. A monthly subscription fee varies based on number of users and applications.
Tidemark is a Redwood City-based startup funded by Greylock Partners, Andreessen Horowitz, and Dave Duffield and founded by veterans of the business analytics industry. Tidemark offers a set of next-generation enterprise performance management applications on an unified application platform built for the cloud. Leading Fortune 1000 companies are selecting Tidemark as their new standard enterprise performance management platform. To learn more about Tidemark, please visit www.tidemark.net.
The OutCast Agency