Need a cost-effective planning, budgeting tool? Tired of inflexible solutions or error-prone spreadsheets? Here is a solution
July 03, 2018

Need a cost-effective planning, budgeting tool? Tired of inflexible solutions or error-prone spreadsheets? Here is a solution

Tahir Tahirov, PMP | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Review Source

Overall Satisfaction with Quantrix

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 Solutions based on Quantrix provide excellent business insight, valuable information for decision-makers.
  • 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.
  • 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.
  • My client replaced 150 Excel Spreadsheets, 10 interlinked files for 60 facilities in 6 regions with only one Quantrix Multidimensional Model
  • 1 Quantrix Formula replaced about 1500 Excel Formulas
  • They reduced budgeting time from 3 months to one week
  • Quantrix training and creating a large and complex budget in only 10 days
Microsoft Excel, Infor, Tagetik, Palantir Quantrix is not ready to use budgeting and planning tool, it is basically data modeling tool. That makes Quantrix different. You yourself or with help of consultant create model according to your specific business needs. You will get cost-effective, tailored solution. It is a modeling tool that allows the easy and quick creation of multiple scenarios, conducting “what-if” analysis to accommodate uncertainty associated with forecasts.
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

Quantrix Feature Ratings

Long-term financial planning
Financial budgeting
Scenario modeling
Management reporting
Financial Statement Reporting
Management Reporting
Automated board and financial reporting
Personalized dashboards
Cost and profitability analysis
Key Performance Indicator setting
Benchmarking with external data
Flat file integration
Excel data integration
Direct links to 3rd-party data sources