Quantrix Qloud Improves Collaborative Business Planning and Information Sharing
Quantrix Qloud now supports online editing of multi-dimensional business models; concurrent release of Quantrix Modeler 5.1 further streamlines business planning, forecasting, budgeting, and information modeling
PORTLAND, ME – January 14, 2014 – Quantrix has released major upgrades to its Quantrix Modeler business modeling and analytics (BMA) and Quantrix Qloud software solutions. Quantrix Modeler Release 5.1 includes new features such as a smart time functionality and improved integration with databases and business applications via its DataNAV and DataLink functions. The Quantrix Qloud, a hosted solution that requires no IT infrastructure investments, now enables end-user interaction with models via web-browser. Quantrix Modeler is a multi-dimensional business planning software solution that enables financial professionals to break away from the restrictions of spreadsheet technology and enterprise business intelligence applications to quickly develop financial models of the highest integrity, flexibility, and transparency.
“Collaboration is essential to business, especially to planning. The Quantrix Qloud breaks down organizational silos. It makes it easier, faster, and safer to collaborate on creating and updating plans and performing ‘what if’ scenarios,” remarked Robert Kugel, Senior Vice President & Research Director, Ventana Research. “Quantrix Modeler and its complementary web service, the Quantrix Qloud, give organizations a lot more flexibility in how they use and share planning models. And they make it easier for organizations to create and adapt models quickly and efficiently as conditions change. The Qloud is particularly useful for companies and consultancies that wish to provide secure web access to individuals who need to work with – or contribute information to – their models without having to incur the effort and expense of supporting additional IT assets.”
Cloud-based applications for business and finance have become more accepted as companies overcome security concerns and migrate to web-based business planning solutions. In a recent survey of business and finance professionals, Quantrix found that while only two percent of respondents use cloud-based spreadsheet tools, 22 percent use cloud-based budgeting/planning tools, 24 percent use cloud-based BI tools, and 25 percent use cloud-based ERP tools. In all, 41 percent of respondents reported that their companies have a strategic initiative to move business applications to the cloud.
Reasons for the move to cloud-based business applications include a strong need to improve collaboration among business and finance teams: among the top challenges cited in Quantrix’s survey was the need for simultaneous access to business planning models. The pace of business also has an impact: 42 percent of respondents say they are receiving “many more” requests for ad hoc, or ‘what if’ scenarios, which are more easily generated with access to up-to-date business planning model data. A full 54 percent of respondents cite that better web accessibility makes business-planning tools more useful.
“Our customers need a web-based tool for information sharing and collaborative business planning, but also need a powerful modeling solution for the desktop. Quantrix now offers the best of both worlds,” says Mike Salisbury, Senior Product Manager, Quantrix. “Quantrix Modeler offers a high-fidelity, multi-dimensional model building experience while the Qloud enables business users anywhere to securely access and interact with those models online.”
The combination of Quantrix Modeler plus Quantrix Qloud is ideal for companies with distributed operations that need to provide a holistic view of consolidated financial data to all involved in business planning and decision-making. The combined solution also enables consultancies to develop and deliver interactive models to clients with real-time data. This Quantrix-hosted solution will free IT departments and consultancies alike from the time and expense of supporting servers and other infrastructure.
Major new features and functionality of Quantrix 5.1 include:
- Web-based collaboration with Interactive Qloud: Users now can edit Quantrix models online in real time. Model owners can assign permission levels and share models or segments of models securely in multiple modes: as a viewer, modeler, or user. Modelers also can ‘check out’ models from the web to their desktops to make changes to formulas and structure, all with version control. Model data can be exported from the Qloud for use in other databases or applications.
- Smart time dimension functionality: The new Timeline feature in Quantrix Modeler 5.1 streamlines the process of setting up the all-important time dimension in models. A wizard walks users through the steps of setting up time-based dimensions (month, quarter, fiscal year, etc.). Users can easily link a timeline to another matrix, and can have different timelines such as a fiscal year and a calendar year on different matrices within a model.
- Enhanced data sharing: Quantrix Modeler 5.1 includes several enhancements to DataLink, which integrates Quantrix models with data sources and business applications, and DataNAV, which queries data sources to develop ad hoc and structured analyses. Users now can establish a direct DataLink to another Quantrix model without first exporting to an external database, can use a Quantrix matrix as a DataNAV data source, and can use a URL to identify a data source for DataLink or DataNAV.
Quantrix’s business modeling and analytics (BMA) solutions and services enable companies to develop accurate, secure, and dynamic forecast, budget, planning, risk, and data models. Quantrix Modeler provides unprecedented business intelligence and improved business performance management to customers in 50 countries. It delivers rapid return on investment by empowering business and financial professionals to break away from restrictive two-dimensional spreadsheets and complicated modeling and business intelligence tools. Quantrix Modeler is available directly from the company and from its partners in the United Kingdom, Ireland, China, Australia, New Zealand, Germany, Mexico, Chile, South Africa, the Philippines, Italy, and Brazil. Quantrix is an independent business unit of IDBS, a leading worldwide provider of data management, analytics, and modeling solutions. For more information about Quantrix Modeler, or to activate a free 30-day trial, visit https://www.quantrix.com or call +1 207.775.0808.