Flagstone Reinsurance Holdings Limited Streamlines Forecasting, Budgeting Process with Quantrix 64

PORTLAND, ME – December 20, 2008 – Quantrix today announced that Flagstone Reinsurance Holdings Limited has chosen Quantrix 64, a business modeling and analytics software solution for companies that develop large-scale, data-intensive business and financial models. The new product’s 64-bit processing capability enables enterprise customers to create scalable, comprehensive models. Flagstone Reinsurance Holdings Limited is a global reinsurance firm with more than 30 companies worldwide, which selected Quantrix 64 to consolidate more than 70 individual models to streamline its financial forecasting and budgeting process, and to improve the quality and timeliness of executive committee and board reporting.

Flagstone Reinsurance Holdings Limited initially used the 32-bit version of Quantrix Modeler for budgeting and financial forecasting, but the large scale of operations required the company to develop multiple models to incorporate all of the information. “The model has a huge multi-dimensional framework,” says Shawn Mercer, Director, Planning, Flagstone Reinsurance Holdings Limited. “And with the new 64-bit version, we can pull everything together into one model.”

The consolidated model contains information on 30 companies, each with approximately 2,500 general ledger accounts. It includes 19 departments operating in eight currencies, providing information across 15 quarters of data, and requires approximately 20 million calculations.

Flagstone Reinsurance Holdings Limited cites multiple benefits that Quantrix 64 brings to the company:

•    Efficient and transparent business logic: Flagstone’s budget model is performing approximately 20 million calculations on 44 million cells with only 359 formulas in Quantrix. In contrast, the same business model in a spreadsheet would require 20 million formulas. “This efficient implementation of business logic means that we can adapt our models rapidly as our business changes. I don’t know about other businesses, but ours is anything but static,” says Mercer.

•    Quickly and easily develop scenarios: Unlike x-y based spreadsheets, Quantrix 64 enables Flagstone Reinsurance Holdings Limited to develop multi-dimensional models that can quickly and easily produce scenarios and forecasts. The team now can respond quickly to board queries, enabling timely and more accurate decision-making. “The speed with which we can turn around queries is a wow factor,” says Mercer. “We can toggle back and forth between various inputs to stress test variables, and take a snapshot of what we produced – it’s amazingly easy.”

•    Create consolidated models: Prior to Quantrix 64, Flagstone Reinsurance Holdings Limited maintained multiple models that it then consolidated into intermediary models for forecasting and budgeting. Because Quantrix 64 can support the volumes of data involved in the models, the company no longer has to crosscheck and update numbers in multiple models. “The 64-bit version of Quantrix has made our model more efficient, and we are more confident with everything in one spot,” says Mercer. “The numbers are updated simultaneously, and we are more confident they are correct.”

•    Capture data directly from end users:  Flagstone Reinsurance Holdings Limited runs Quantrix 64 in a networked environment, and asked end users to input budget numbers directly into the model. “We created templates in a controlled environment where users could only access and manipulate certain cells,” says Mercer. “It sped up the process, and it improved the integrity of the data because we did not have to manipulate data or re-key a single number.”
 
“The budgeting process for large companies is often fraught with error because it requires so much data from so many sources,” says Chris Houle, CEO, Quantrix. “Quantrix 64 takes the complexity right out of the equation by enabling companies such as Flagstone Reinsurance Holdings Limited to manage and access their critical business data in one, multi-dimensional model.”

Quantrix’s 64-bit multi-dimensional business modeling and analytics software enables finance and operations professionals to break away from the performance restrictions of spreadsheets and the complexity issues of high end business intelligence applications.  Quantrix 64 can be quickly deployed throughout the enterprise with bi-directional integration with existing data sources and applications.  Quantrix forms an integral part of an organization’s strategy for improving financial and operational performance.
About Flagstone Reinsurance Holdings Limited

Flagstone Reinsurance Holdings Limited, through its operating subsidiaries, is a global reinsurance and insurance company that employs a focused, technical approach to the Property, Property Catastrophe, and Specialty reinsurance and insurance businesses. Flagstone Reassurance Suisse SA has an "A-" financial strength rating from both A.M. Best and Fitch Ratings, and an "A3" rating from Moody's Investors Service. For more information, visit http://www.flagstonere.bm.

About Quantrix
Quantrix delivers business modeling and analytics (BMA) solutions and services to customers in 50 countries with resellers in the United Kingdom, China, Australia, France, Germany, Mexico, Chile, Israel, South Africa, and Brazil. Quantrix Modeler provides unprecedented business insight by enabling companies to develop accurate, secure, and dynamic forecast, budget, planning, risk, and data models. Quantrix Modeler delivers rapid return on investment by empowering businesses to break away from restrictive two-dimensional spreadsheets and complicated modeling and business intelligence tools. For more information about Quantrix Modeler, to inquire about a speaker for your event, or to activate a free 30-day trial, visit www.quantrix.com or call +1 207.775.0808.

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