Elastic Intelligence announced that more than 2,000 companies are successfully using its Connection Cloud Platform-as-a-Service (PaaS) solution, now generally available.
The company has concluded beta trials of the offering, which enables instant access to virtual SaaS (News - Alert) data.
The Connection Cloud solution uses key partner alliances to connect users to previously siloed SaaS data sources, enabling them to instantly combine and virtualize information.
This lets companies create up-to-the-minute reports for sales and marketing analysis, financial reporting and other business intelligence information.
In the six months since Elastic Intelligence launched its beta of Connection Cloud, the company has signed a variety of partner alliance agreements with business intelligence and report vendors like Tableau, Jaspersoft, Yellowfin and Pivotstream.
They are also partnering with SaaS vendors Intacct, Zuora, Netsuite, Zendesk, Salesforce and SugarCRM (News - Alert).
The company’s beta trialing the solution have realized a number of benefits, and mainly no longer need to go through the time and expense of understanding complex SaaS APIs or moving data into a costly data warehouse. Tableau users have been able to pull specific data fields from Netsuite, Intacct, Zendesk, Zuora (News - Alert) and Facebook using the solution through a virtual view, which rapidly builds cross-application reports to their specifications.
"The Connection Cloud's rapid trajectory of acceptance among key leaders in the SaaS data and business intelligence space is proof the market sees Connection Cloud as the solution to solving the pain point of easily accessing SaaS data for advanced reporting," said Connection Cloud CEO Ajay Singh.
"Our user adoption rate, particularly in the financial management market, tells us that they're having trouble reporting on their SaaS data and the time is right for an easy, economical solution," added Singh. "During 2013 and beyond, we will aggressively expand our list of supported SaaS applications on the Connection Cloud, furthering our position as the only company in the marketplace that enables you to instantly connect your favorite reporting solution to your virtualized SaaS data sources at a highly-affordable subscription price."
Elastic Intelligence plans to develop new virtual SaaS data connectors as well as other add-on products later this year. This will enable the company to take advantage of SaaS market opportunities, with a Forrester Research (News - Alert) study projecting the SaaS software market to increase by 25 percent in 2013.
Forrester predicts the market will grow to $59 billion this year and reach $75 billion in 2014.
"Connection Cloud is the culmination of a vision we've been pursuing for a few years - that of enabling users to virtualize and access Intacct data in the cloud, with the reporting tool that works best for them," said Intacct CTO Aaron Harris. "It's a remarkable achievement, enabling our users to pick their own reporting tool, pull in data from Intacct and create customized reports without first having to export the data. The flexibility Connection Cloud provides, and the efficiency, is creating a growing customer fan base among our Intacct users."
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