TrustRadius Insights for Quantrix are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.
Pros
Powerful tool for complex financial planning models: Users have found Quantrix to be a powerful tool for building complex financial planning models. Many reviewers have stated that its multidimensional data structure and robust formula language make it easy to create and modify models quickly.
Enhanced data integration through various data sources: Quantrix allows users to import data from various sources, such as text files, other Quantrix models, and external databases. This feature has been praised by several reviewers as it enhances data integration and simplifies the modeling process.
Ability to save snapshots of computed tables in external databases: Reviewers appreciate the ability to save snapshots of computed tables in Quantrix to external databases through DataPush. This functionality helps maintain data integrity and enables further analysis, according to multiple users.
The team utilize Quantrix for calculating sales forecasts, financial calculations, and to keep track of different types of purchases. Our sales team, finance team, and asset management team (and some in HR who oversee that) use it for these different items. Prior to this I just used Excel for this type of data tracking so this is heads and shoulders above our previous methods.
Pros
Quick turnaround times
People can modify their data through the cloud
Robust and timely alert system
Cons
Visuals could be better presented and have more of them
Not a lot of training materials provided for new users
Support never answered in a timely manner
Looking up data from a different sheet was fairly difficult
Likelihood to Recommend
Really great program for calculating the capacity for our user base (what we can and can't handle) as well as for providing accurate sales forecasts. Asset management and output calculation is another area this tools really excels. Quantrix seems less suited for larger data dumps or comparing multiple data sheets to one another.
We utilize the Quantrix application in many facets of the company. We use it for calculating sales forecasts, capacity analysis for plant and equipment purchases, head-count adjustments, and all financial calculations. Prior to Quantrix we utilized Excel type applications. Modifications were tedious and error prone along with the lack of quick turnaround when needed.
Pros
Quickly turn out modified reports with prospective sales
Alerts you if there are errors in your calculation/formulas
Allow users to have modified access through the Qloud to do their own modifications without risk of their changes impacting the main model
Cons
Formulas can be tough to come up with if you do not have a deep grasp of SQL
It is graphically challenged when a visual depiction is needed
Likelihood to Recommend
It is an amazing program for calculating the capacity of production facilities and equipment needs/purchases. Financials are quick to update and calculate and teams have great confidence in the output of the model. However, to dig into the actual data dump is a bit of a challenge at times when you are looking for a smoking gun.
I have over 10 years experience in using and implementing Quantrix in various organizations. Examples are the corporate budget model for a large construction company and project economics, portfolio and business planning system for oil and gas company <a title="Link: http://www.smartmodelingsolutions.com/#Testimonials" rel="nofollownoopener" target="_blank" href="http://www.smartmodelingsolutions.com/#Testimonials">http://www.smartmodelingsolutions.com/#Testimonials</a>. Solutions based on Quantrix provide excellent business insight, valuable information for decision-makers.
Pros
Lets say you need to model your expenses over years and you have 10 products. If you use Excel you would need to create 10 tables for each product. Instead of creating separate tables of yearly expenses for each product, in Quantrix you create a 3-dimensional cube with all expenses/products/years inside. That means you do not need to repeat the same work for each product: no need for copy-paste of same data to new sheets, no need to repeat formulas. If modification required, no need to add new item to each table, simply add it once and that is it! Even better: if you add a new product, you do not even need to write any formula. Because one existing formula, written in natural language applies to the whole range of products, not to the particular cell. Your presentations, reports, dashboards and graphs are also multidimensional. Simply select dimension or item for instant visualisation.
Great advantage of multidimensional models is the Linked structure. You simply drag and drop existing dimensions and build a structure, which means
much faster modeling. If you add a new year or a new product in CF it will be added in P&L immediately , or vice versa. It helps to maintain structure across models and makes possible effective data integration.
Add more dimensions and actually multiply our efficiency. You can easily add more dimensions like: Regions, Services, Price Scenarios, Production Scenarios, Projects, or any other dimension relevant to your organization.
Quantrix Qloud is a great tool for sharing models and collaboration. Imagine dynamic reporting to your management including scenario simulations options. Access from all over the world, no need for software installation. Organize data flow by giving controlled by you access for collecting input data from your colleagues.
Overall result: Time-saving and cost reduction, Elimination of errors, Excellent business insight for management.
Cons
There is a need for more enhanced visualisation tools. Graphs, widgets, etc. should be more appealing for decision-makers
Would be great to have fully functional Web/Cloud version of Quantrix. Currently, Qloud is designed only for sharing and collaboration but does not let users to write formulas, actually model the data.
Quantrix should make more efforts to popularize its products, make its brand known, especially outside of North America.
Likelihood to Recommend
If you find yourself in the ocean of traditional spreadsheets, overwhelmed by broken links, errors, model audit problems, hardwiring, etc. here is a lifebuoy for you. If you want to have full flexibility in your budgeting and forecasting in contrast to ERPs with rigid structures and one-size-fits-all concept. If you are small or medium size company and do not want to invest in costly enterprise solutions. If you need a fast implementation <a title="Link: https://youtu.be/5W_q5Xhw5fg" rel="nofollownoopener" target="_blank" href="https://youtu.be/5W_q5Xhw5fg">https://youtu.be/5W_q5Xhw5fg</a>
Quantrix is being used for forecast analysis purposes as well as detailed production planning. Currently, this is being used by the planning department.
Pros
Analysis
Calculations
Deal with lots of data and keep oversight.
Cons
Machine learning
Statistical analysis
Likelihood to Recommend
Financial planning works well with Quantrix. Creating models based on building blocks works well with Quantrix.
When working with abstract data and finding trends/patterns in data, Quantrix is less suited.
I have been using Quantrix at the University of Trento for more than 10 years. Quantrix is used as a financial modeling tool and for teaching and research in corporate finance. It has been adopted in my Department (Dept of Management) by my research team (6 users) and by undergraduate students attending our Financial planning lab class (about 120 students per year since 2012).
Pros
Building complex financial planning model availing of a multidimensional data structure coupled with a powerful formula language, with the immediacy and intuitiveness typical of spreadsheets
Implement quickly model modifications (new products, new scenarios, new time periods) simply adding new "items" to "categories" (corresponding to dimensions in a multidimensional data model)
Scale up models to very large datasets with very fast computation times
Easily import data from text files, other Quantrix models and external databases via DataLink and DataNAV
Save snapshots of tables computed in Quantrix to external databases via DataPush
Cons
The user can develop user defined functions and automated tasks via the scripting language based on Groovy. Such functionality has room for further development both in terms of what a user can achieve, and the ease of use of the tools for script editing and debugging
Charting is available. Typical business charts are easily obtained from data in Quantrix matrices but configuration could be simpler and chart modifications more predictable in their effects
Users can designed composite views of model elements (tables, charts, text, images) via "Canvas" objects. Canvas features have greatly improved over time, but editing remains a bit complicated
Likelihood to Recommend
Quantrix Modeler is one of the most appropriate software tools for developing dynamic financial planning models in small teams composed by skilled power users. There is an also Enterprise version supporting larger user bases and stronger integration with company backend systems.
It's not advisable to put Quantrix desktop application in the hands of non-skilled staff since the learning curve is much steeper than what's the typical experience with spreadsheets. Adding a table with ad hoc simple calculations can be done by anyone in a spreadsheet, but requires knowledgeable design in a Quantrix model. On the positive side, experience with students in our classes shows that with focused training an user can be become productive in a relatively short time.
There is a web version of Quantrix Modeler, Qloud, that is aimed to end users that only modify input data and consume model results, without the possibility of changing the model logic (structure and formulas)
[It's being used for] Optimizing OR (operating room) throughput: coordinating scheduling, allocating resources, advanced managerial accounting.
The limitations for Quantrix are mostly self-imposed. Quantrix is like a word processor after you've been using a manual typewriter. You now have to think about what you're actually doing (saying) instead of worrying about typos in the equations. Get your concepts right, and the sky's the limit.
Good: impromptu analysis for data correlation, cause and effect, aggregation, group participation; simple and infinite replication for addition facilities, same-type situation
Less appropriate for very simple tasks: overkill for non-analytical bookkeeping...although with multiple site licenses it could aggregate and give immediate feedback to those who needed analysis with data from multiple, disparate sources.
We use Quantrix exclusively to budget and forecast our financials top to bottom. We use Quantrix on the manufacturing side of the business to model throughput capacity, production forecasts for SKUs, and most recently for product wheels.
Pros
Quantrix gathers info from numerous sources in a single click. Thereby making structure to process sustainable and scale-able. Once the logic is written the data refreshes and you are good to go with furture analysis and planning. There is no need for rework, copying down formulas, etc. In our latest product wheel build process we reduced our time from 3 weeks of time to 2 days to build out product wheels. There was a sharp contrast between Excel ( previous method) and Quantrix.
Quantrix links perfectly to SQL Server which allows us to get actual data quickly, push out forecasts or other data for other systems to consume.
Quantrix range based formula writing and common term formulas are a HUGE time saver. Debugging formulas is a breeze in Quantrix using what is called the dependency inspector. There is no need to copy down formulas; make sure cell ranges are locked etc. It is one formula controlling a multitude of cells that scales as the data set shrinks or grows. Also if there is an error in the formula you have 1 formula to fix not hundreds or even thousands. Common terms in your formulas helps immensely and reduces the amount of headache of debugging your formulas.
Quantrix Scales with ease. Adding additional data or shrinking the data does not require (manual) structure updates to Quantrix. It accordions according to the data imported. Pivoting data and looking at it as well as filtering it and then building off of those filters and pivots is a joy to do in Quantrix!
Complexity - Excel does not have it! Where the vlookup ends in Excel the Quantrix Select statement is just warming up. Functions like: Select, Selects, SelectList, SelectGreaterThan, SelectBetween, SelectLessThan, and one of my new favorites SelectLike in addition to CASE and Switch Logic make Quantrix a dominating force when it comes to writing complex logic in your business model. Quantrix does is beautifully.
Cons
Find and Replace feels like it is from 1990.
Filtering. The filter tray is excellent, but filtering on a two dimensional data set is a bit cumbersome.
The DataLink Wizard needs to no longer be a wizard, but a single screen with every tihng I could ever want in regards to data connectivity at my fingertips (much like Tableau in that regard).
Qloud. The function and look of this offering seems a bit clunky. I don't use it much because it seems a bit clumsy.
Likelihood to Recommend
Anything you do in Excel you can do easier (maybe not initially as there is a learning curve), better, and more effectively in Quantrix. If there is a repeatable process that requires updates to data then Quantrix is the solution. If you need something that does highly complex structure, organization, and summarizing of data Quantrix is the answer.
<div>I used Quantrix to develop an integrated Cash Flow, Income Statement, Balance Sheet model.
</div><div>We offer Quantrix to our customers even outside of financial economic applications. As we also take care of the creation of websites and online shops; we offer Quantrix to our customers to analyze sales. For example, it is very easy to import data from Amazon or Shopify into Quantrix (through a simple XML)</div>
Pros
Simplicity of use and easy learning
Ability to set up security by creating user profiles
In addition to the standard data modeling and import functions, it offers a powerful tool for creating custom programs in Java (Groovy)
Cons
Quantrix was able to free the definition of calculation rules from cells. It would be interesting to be able to separate the default template structure from changes when importing data.
Just to be clear to prevent the import (example from a CSV or DB) the creation of new items in addition to those already existing.
An import navigation by level would be interesting. Or to obtain a split of the number on a tree structure (I bring as an example that of Corporate Planning (https://www.corporate-planning.com/de/).
As a further enhancement of the above, it would be interesting to be able to define reports like an explosion of a tree structure.
Likelihood to Recommend
<div>Very powerful in creating models (even complex) with a library of formulas and advanced functions.</div><div>
</div><div>More lacking if one expects to be able to create interactive charts like those of business intelligence software (Qlik, Tableau etc ...)</div>
Schumacher MSFP provides external controlling services to its clients. We develop and run client specific financial business planning solutions. Our speciality is planning using macroeconomic business drivers (population, demand, income, etc.). We use Quantrix to do complex financial modelling for clients. These financial models can only be realistically done in Quantrix due to its unique set of features.
Pros
Capable of moving a model through time with little effort.
Separate formulas from data to allow - in combination with user rights model - to maintain the audited status of a model.
Extremely reliable even with very large models.
Extremely powerful lookup-functions in a multidimensional setting.
Top-down perspective.
The QCloud solution could potentially save firms a lot of money.
Cons
It should be easier to link results with standard applications. The datapush features helps but things could be easier.
The (powerful) chart model should be reviewed for easier use.
You generally get very far without scripting. When you need it, it is overly complicated.
Likelihood to Recommend
<b>If it is business relevant, do it in Quantrix!</b>
Quantrix beats a conventional spreadsheet by miles when you are in need of a tool to set up and maintain a complex planning solution.
Quantrix starts to shine, where a spreadsheet is starting to ache.
Use a conventional spreadsheet if you just want a quick, one-off answer.
Quantrix Qloud is being used a client portal for our institutional fixed income accounts that need access to a wide array of custom analytics for solving problems along the portfolio management decision chain. This includes analytics for modeling cash flows and liquidity needs, strategy development, performance evaluation, portfolio reporting, historical tracking, credit analysis and much more. Quantrix solves an amazing number of problems from the ease of creating custom analytical models to the deployment of a professional enterprise level web-based interface that makes life for our clients incredibly easy.
Pros
Develop robust, data intensive models with minimal (relative to competing alternatives) formulaic or coding infrastructure.
Handle large data sets Excel could only dream about.
Professional Qloud environment that only gets better and better. Deliver model output with professional design and customized canvases to deliver a truly unique experience to end users.
Qloud administration allows control to specific models and data within models to keep users of all different levels and access authority seeing only what they are supposed to see.
Quantrix support team is second to none. They go out of their way to answer questions and find solutions to even the toughest problems in a timely manner.
Cons
Hard to be critical of the Quantrix team as I know they strive to produce the best product possible. I suppose the next thing on my wish list would be the application of the new Solver functionality to be available in the Qloud.
A big help for new users would be a good book on transitioning from Excel or other environment into Quantrix. I know first hand it can be difficult to transition when having to learn the program through a help guide, forums and tech support. I had a lot of trial and error in my journey to producing the desired models. On one hand it was a valuable method as it taught me a lot of what not to do, but I will admit it was not the most efficient way to do things.
Would also love to see local user groups being formed at some point in the future. Quantrix puts on a fantastic conference once a year in beautiful Maine, but it is a big journey for someone in Southern California (and limited to one or two days a year). I would like to see some local chapters formed in different areas of the country so local Quantrix users can get together more often and collaborate (maybe a quarterly or semi-annual meetup?). Our Quantrix community is still relatively small and may be a difficult task for some areas, but is also the very reason why this would be great idea.
Likelihood to Recommend
I would recommend Quantrix if the person is trying to create solutions involving large data sets, complex outputs (traditionally complex formulas, output derived from inter-related or dimensional data), or needs advanced canvasing ability to create custom outputs with a wide array of custom charts, tables and scripting to choose from.
I still use Excel for basic tasks such as data aggregation or simple calculation tasks (such as finding the weighted average of some subset of data), but the minute the solution moves into more complex territory I move to Quantrix models. There is just hands down no better way to create more complex solutions as efficiently or as appealing as Quantrix.
