Lumensoft Launches OLAP SW for Financial Analysis Apps

LumenSoft, experts in Business Intelligence and OLAP technology, has introduced SpreadsheetObjects, a software package that provides organizations with a faster and lower-cost way to analyze data, generate reports, and make more informed decisions.

The software leverages the latest On-Line Analytical Processing (OLAP) spreadsheet technology to allow users to more efficiently "slice and dice" data. SpreadsheetObjects is a software tool used for researching, collecting, analyzing, planning, budgeting, forecasting and reporting enterprise data.

"Today's business executives often do not have access to critical strategic information due to the lack of effective tools for extracting information from corporate databases," said Dave Nolby, president and CEO, LumenSoft. "SpreadsheetObjects helps corporations unlock the power of their databases. Our OLAP tool quickly guides users through data-analysis and reporting, eliminating a common bottleneck in decision-making."

In the past, corporations have concentrated on getting data into databases. But getting data out of the system has traditionally been difficult and time-consuming. Many financial analysts use an array of spreadsheets, manual methods and tools that come standard with today's databases to generate reports. Those that have tried previous OLAP tools have found them so complex that they required substantial IT support to achieve the desired result.

"SpreadsheetObjects was designed to take the pain out of OLAP for financial analysts," said Robert Wallace, vice president of Technology, LumenSoft. For the past four years, LumenSoft has helped corporations better utilize their data through its OLAP training and consulting programs. "SpreadsheetObjects adds the final ingredient to offering a full-service solution for organizations looking to unite their enterprise," said Wallace. "Our software leverages the experience we've gained working closely with organizations and seeing first-hand the difficulties they have extracting and analyzing data."

SpreadsheetObjects leverages Microsoft Excel to access Hyperion EssbaseOLAP Server, IBM DB2 OLAP Server and Showcase Essbase/400. It has easy to use wizards that can be quickly mastered by any level of user to build dynamic analytic applications. These applications give options for reading and writing data, calculating data, member selections, and custom report building. "SpreadsheetObjects takes business intelligence to a new level by allowing users to put their hands on company-wide information, ranging from a single entry in the P&L to a specific customer," added Wallace.

A key feature of SpreadsheetObjects is its ability to query a database and analyze the data from many different views, such as by customer, geography, market or product line. If, for example, managers want to explore company performance in terms of product sales, a report that details the performance of individual sales representatives will not help them spot overall trends. By reviewing summary information first, such as total sales per office or region, decision-makers can more easily gain a "big picture" view of business performance. They can then drill down to lower-level details to uncover what is driving these trends. SpreadsheetObjects is now available. LumenSoft also offers ServerManager, which can be used to administer multiple OLAP servers across the entire organization, and between geographical locations.

About LumenSoft

LumenSoft Corporation, based in St. Paul Minnesota, is an expert in On-Line Analytical Processing (OLAP) providing products, consulting, and training that specializes in analytical applications and decision support solutions. It provides Business Intelligence software and services to help companies analyze data, budget, plan, forecast, generate reports and make better business decisions. Its software suite includes SpreadsheetObjects and ServerManager, which help users and administrators build and manage sophisticated analytical environments. LumenSoft's full-service model integrates common business activities to obtain maximum results and business advantage. For more information about LumenSoft visit www.lumensoftusa.com.

Contact Padilla Speer Beardsley Inc for LumenSoft Corporation, Heidi Wight, 612-872-3795, hwight@psbpr.com.