PORTLAND, Maine (Business Wire) --
Australian software developer and reseller uses Quantrix to develop merchandise planning and open-to-buy models for retail customer base, and will also resell the product to its customers in Australia and Southeast Asia
Quantrix today announced that Century Software, an international organization that develops and deploys technology-based business solutions based in Sydney, Australia, has become an authorized reseller of Quantrix's desktop quantitative modeling software application Quantrix Modeler. Century Software first purchased Quantrix to develop custom merchandise planning and open-to-buy models for its base of retail customers throughout Australia and Southeast Asia. After discovering the power and flexibility of the tool, it entered into an agreement to resell the product to the chief financial officers in its region. Century is the first authorized reseller of Quantrix Modeler, and will significantly speed Quantrix's plans for global expansion.
Century has a broad base of retail customers that rely on the company to develop specific models to improve efficiency and productivity for their retail outlets, which rely on tight margins and efficient merchandise turnover to boost profitability. Two such models include merchandise planning, which helps retailers determine on a granular level how much product to buy for each location over time, and open-to-buy planning, which calculates a specific merchandise purchasing budget that encourages rapid inventory turnover. The company replaced its enterprise planning system tool with Quantrix Modeler in the spring of 2005 because it enabled it to dramatically lower the costs of model development, and expand its offerings to small- and mid-sized retail operations.
Enterprise planning systems cost at least $50,000 to deploy, in part because they often require a minimum purchase of multiple licenses. Century switched to Quantrix Modeler for its custom retail modeling development, which enabled it to offer a more cost-effective service to its small- and mid-sized retail chain customers.
"Quantrix offers us 98 percent of the functionality at a tenth of the cost of our former enterprise planning system," says Charles Fox, CEO of Century Software. "Quantrix is a simple, flexible, powerful tool that enables us to develop solutions from simple spreadsheets all the way up to complex financial models. We can communicate with and exchange information with databases. Our customers now have a tool that is easier to use, easier to manage, and gives them more power and flexibility."
After using Quantrix for its custom retail applications, Century Software decided to become an authorized reseller in Australia and Southeast Asia. "We went looking for a tool to do a specific need, and realized the opportunity was much greater," says Fox. "We are delighted with Quantrix's results in developing merchandise planning, but it was a big bonus to discover we could use Quantrix to grow our prospective customer base."
"Century Software's relationships and presence in Australia and Malaysia will help us tap into several large economies," says Chris Houle, Chief Operating Officer of Quantrix. "We're excited to expand our global presence, and believe that Century's first-hand experience using Quantrix Modeler will enhance its ability to sell our solution."
Quantrix Modeler incorporates a unique approach that separates the logic of a model from the structure, which allows users to create and use formulas outside the confines of the cell. Formulas are expressed in words rather than by cell coordinates so they are easy to understand, trace, and audit. Users can make changes, incorporate new dimensions, and view multiple scenarios dynamically without redesigning or reworking their model.
About Century Software
Century Software is an international organization that develops and deploys technology-based business solutions to customers in corporate, government and retail industries. The company uses local entities to deliver and implement systems that are tailored for unique needs, and integrated with other applications to provide a holistic view of enterprise data. The company's retail merchandising application is used to manage the supply chain from manufacturer, through distribution to retail outlet, and integrates with retail outlet POS and accounting applications. Century Software is headquartered in Sydney, Australia, with offices in Kuala Lumpur, Malaysia. For more information, visit www.centurysoftware.com.au.
About Quantrix
Founded in 2002 and headquartered in Portland, Maine, Quantrix develops financial and quantitative modeling software for professionals pushing the limits of traditional spreadsheets. Through intuitive architecture and a powerful, multidimensional calculation engine, Quantrix software enables users to reach new levels of business insight. Its flagship product, Quantrix Modeler, enables users to explore multiple dimensions simultaneously, define formulas with words rather than coordinates, and easily explore new scenarios without rewriting or restructuring models. Quantrix has customers in more than 25 countries. Quantrix has received funding from several sources, including the Maine Technology Institute. For more information, please visit Quantrix at www.quantrix.com or call 207-775-0808.
Quantrix
Chris Houle, 207-775-0808
COO
choule@quantrix.com
or
Harris Media Services
Alison Harris, 207-829-4500
alison@harrismediaservices.com
© Business Wire
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