Host Analytics, the leader in cloud-based Enterprise Performance Management (EPM), has introduced an industry-first mechanism to instantly transform and move Microsoft Excel models into a centralized, secure, cloud-based EPM environment to facilitate financial planning and reporting. The new Host Analytics AirliftXL technology – now included at no additional charge as part of the Host Analytics EPM Suite – enables rapid migration with the fastest time-to-value in the EPM market. It also eliminates the cost and rework associated with recreating existing models in an EPM system.
Host Analytics AirliftXL utilizes a new patent-pending Application Transformation Engine that intelligently parses even complex spreadsheets to instantly create and import new models into the Host Analytics cloud platform. The “lift” comes from the ability to:
- Capture and reuse Excel formulas, formatting and model structures
- Automatically validate existing spreadsheets to prevent moving errors into EPM applications
- Rapidly migrate existing models from legacy on-premises EPM applications
The new product extends the value of cloud-based EPM by enabling finance and accounting professionals to break free of Excel’s security, scalability and manual process limitations without losing their investment in Excel skills and models. Research shows that even large and mature organizations still frequently rely heavily on Excel for managing key financial processes like planning and reporting. Beyond that, traditional on-premises EPM software not only requires lengthy and costly implementation and customization, but also usually forces administrators to reconstruct Excel business models line by line. Keeping EPM applications to up to date with ongoing model adjustments has historically required the same time-consuming process, frequently requiring the use of expensive outside consultants.
Host Analytics AirliftXL eliminates these problems, making it possible to take full advantage of Excel to add and edit cloud-based EPM models.
“As a former Senior Director for Software Development for the Oracle Hyperion Essbase and SmartView products, I witnessed the impact of OLAP and Excel front-ends on finance and accounting professionals,” said Steve Tai, Chief Architect Host Analytics. “Host Analytics AirliftXL extends those concepts further with patent-pending technology that now enables Excel not just as a reporting environment but as a modeling environment.”
To learn more, watch a two minute demonstration here.