Host Analytics Releases AirliftXL EPM Platform
AirliftXL technology is designed to facilitate migration and eliminate the cost associated with re-creating existing models in an EPM system.Cloud-based financial applications developer Host Analytics announced the launch of a platform designed to transform and move Microsoft Excel models into a centralized, secure, cloud-based enterprise performance management (EPM) environment to facilitate financial planning and reporting. The company’s AirliftXL platform utilizes an application transformation engine that intelligently parses complex spreadsheets to create and import new models into the Host Analytics cloud platform. "Enabling all participants in business planning, closing and financial analytics processes to create, modify and update models in Excel and then immediately translate them into an enterprise planning application turns everyone into a programmer," Robert Kugel, senior vice president and research director at Ventana Research, said in a statement. "This should increase productivity and, because these models are always changing, improve the flexibility and value of the EPM software." 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 and migrate existing models from legacy on-premises EPM applications.
"A very complex balance sheet with large amounts of mapping could take days to build and validate with traditional approaches," Stuart Barnard, managing director at Inside Info, said in a statement. "With Host Analytics AirliftXL, we did it in an hour. We see this as a way to replace low-value template building grunt work with higher value consulting."