Host Analytics has its eye on Oracle (ORCL) Hyperion customers with a new migration program to shift “legacy” Hyperion customers to a cloud-based financial management service. According to Host Analytics, provider of cloud-based financial applications, the new program cuts migration time and costs in half.

The company promised in its announcement that its new migration service enables businesses to quickly take advantage of increased business agility, instant quarterly application updates, faster response to new compliance requirements, easy what-if analysis and a 75 percent reduction in total cost of ownership.

“Understandably, businesses that want to move their financial applications to the cloud may have concerns about making a smooth transition,” said Dave Kellogg, CEO at Host Analytics, in a prepared statement. “The migration tools and technology we have developed dramatically accelerate the process for businesses with legacy Hyperion systems, ensuring a seamless and successful switch that will pay off in improved functionality, lower costs, and a system that finance can own without heavy dependence on scarce IT resources.”

Aimed at midsized and large organizations, the new cloud service is intended to deliver three core tools and benefits:

That’s how Host Analytics sees it, anyway.

According to the company, there is an increasing number of Hyperion customers transitioning to Host Analytics. Even if the vendor is exaggerating its effect on Hyperion customers, it’s still in the process of trying to capture and transition Hyperion customers. And moving from an on-premise financial management system to a cloud-based one has its issues.