Cloud-based corporate performance management software provider Host Analytics is now offering a tool to instantly move Microsoft Excel models into a centralized, cloud environment to facilitate financial planning and reporting.

Host Analytics AirliftXL, which is now included at no additional charge as part of the Host Analytics EPM Suite, utilizes a new patent-pending application transformation engine that parses complex spreadsheets to create and import new models into the Host Analytics cloud platform. Specifically the product can capture and reuse Excel formulas, formatting and model structures; automatically validate existing spreadsheets to prevent moving errors into EPM applications; and migrate existing models from legacy on premises EPM applications.

“As a former senior director for software development for the Oracle Hyperion Essbase and SmartView products, I witnessed the impact of OLAP and Excel front-ends on finance and accounting professionals,” said Host Analytics chief architect Steve Tai. “Host Analytics AirliftXL extends those concepts further with patent-pending technology that now enables Excel not just as a reporting environment but as a modeling environment.”