Solver: Collaborative and Action-Driven Solutions

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Solver: Collaborative and Action-Driven Solutions

CIO VendorNils Rasmussen, CEO
The evolution of the budgeting and forecasting space is a result of customers’ demands from software vendors to provide adaptable and user-friendly offerings. These days, the trends in budgeting and forecasting are moving toward Excel and web-based solutions that are managed by Accounting and Finance teams. And most modern planning software now comes as part of a more comprehensive suite that also includes reporting and visualization modules. In such a scenario, organizations are trying to resolve certain challenges, such as the lack of automated planning processes, absence in integration of strategic plans with their budgeting, forecasting, and monthly reporting. Organizations also have to deal with the limited time their staff have to learn new Corporate Performance Management (CPM) technologies.

Los Angeles, California-based, Solver seeks to solve these issues by expanding their technologies into user-centric and self-service CPM and business intelligence solutions. “Our solutions are more affordable than traditional legacy products, faster to deploy, and use familiar Excel or Web interfaces that users can quickly pick up and learn,” begins Nils Rasmussen, CEO of Solver.

Founded in 1996, Solver has delivered three generations of CPM tools. The company’s latest offering, BI360, is a complete Business Intelligence (BI) suite, which first saw the daylight in late 2009. It has now matured and spread to a global market—supported by international Solver offices and hundreds of reselling partners. Delivered as a complete Excel and web-based suite, BI360 is comprised of reporting, budgeting, dashboards, and a pre-configured data warehouse. The product is completely flexible, enabling it to be used across industries without customization, regardless of their formats for reports and budget templates. “Our platform includes every aspect of an organization’s record, such as financial, payroll, project, and sales data,” adds Rasmussen.

Our platform includes every aspect of an organization’s record, such as financial, payroll, project, and sales data

“Through BI360, we also offer web and mobile interfaces that enable end-users to access information from the interface best suited to them, whether they are in the central office, a remote location, or travelling.”

The company holds a track record of delivering innovative, business-driven solutions to numerous client across the world. In one instance, a financial institution approached Solver to find a new budgeting solution to replace their old Cognos system. The organization’s legacy Enterprise Resource Planning (ERP) solution was heavily ingrained in their system, but had poor reporting, no usable budgeting functions, and lacked visualization. So, the client resorted to using Excel extensively to supplement the administrative systems. The customer then tried Solver’s BI360 suite that had modules for budgeting, reporting, consolidations, dashboards and data warehousing. “Now, four years later, BI360 has become the central hub for all of the client’s key information, including financial and operational data, statistical records, as well as budgets and forecasts,” notes Rasmussen. By storing the client’s crucial information in the BI360 data warehouse, which is secure, auditable, and easily accessible, “we drastically improved their visibility across processes and increased the performance,” he adds.

The company’s rich BI360 solution is completely focused on the CPM and BI arenas. This singular focus makes it easier for Solver’s teams to deploy effective strategies and offer software that aligns with today’s customer needs. Forging ahead, the company plans on leveraging future trends that will affect CPM and BI solutions in order to provide customers with the deployment that best fits their situation. Solver also pays close attention to the recent mobile app trend and works on delivering the right BI information in the right format, directly on managers’ devices.