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New York, June 9, 2004 – Savvysoft, the market-leading vendor of derivatives analytics, today announced the release of TurboExcel at booth 1414 of the SIA Show in New York. TurboExcel uses a patent-pending technology which:
Radically reduces the time it takes to recalculate Excel spreadsheets. In tests, spreadsheets which formerly ran eight hours now run in a minute and a half, and spreadsheets which took 15 minutes now run in 6 seconds, fully 300 times faster.
Allows spreadsheet models to immediately migrate to other systems, and other platforms such as Unix/Linux platforms. Spreadsheet migrations taking a few weeks can now happen in a few minutes. This is fully 500 times faster.
Encapsulates an entire model into a single function, which means other users cannot inadvertently break a spreadsheet by changing it without fully understanding the logic, and also locks up proprietary algorithms from prying eyes.
Excel users now have the freedom to use their spreadsheet inside any office system because with TurboExcel, it only takes a few minutes to fully integrate their Excel spreadsheets into other systems. TurboExcel also handles spreadsheets that contain any Excel built-in functions (including the Analysis Toolpak), and it also accommodates external add-ins as well.
How does TurboExcel technology work?
TurboExcel completely takes advantage of the fact that programming code runs much faster than spreadsheet code. TurboExcel’s patent-pending software technology actually converts the Excel spreadsheet formulas into C++ programming code, and then compiles it into binary code (0’s and 1’s).
As a spreadsheet, Excel needs to trade off between speed and flexibility. Every time the user hits F9 to recalculate in Excel, it needs to convert every cell in the spreadsheet into the binary 0’s and 1’s that the computer understands, as well as determine the right order to calculate the cells, and how best to format them. TurboExcel isn’t hampered by any of that. TurboExcel directly generates binary code, so when calculations are performed there’s no overhead. Savvysoft tests show this makes Excel run up to 300 times faster.
Essentially, TurboExcel is a programmer, but far better because TurboExcel can code much faster, much cheaper, and with no errors or bugs. The implications of this are far-reaching: TurboExcel technology empowers spreadsheet users who have no programming skills with the ability to program in C++. Excel is their interface for programming in C++.
Rich Tanenbaum, founder of Savvysoft, stated “TurboExcel is one of those products that makes people say: ‘Why didn’t I think of that?’ It’s a simple idea, with powerful benefits that can be realized immediately. We’re not only selling the product, but we’re actually using it ourselves, and have already reaped huge benefits from it.”
Jerome Montpetit of Export Development Canada, a TurboExcel user, commented “TurboExcel tremendously reduces the time required to model highly complex transactions, from days to minutes. And once TurboExcel writes the model, it can be used both inside Excel, and inside our front-office system. The product requires absolutely no programming. With TurboExcel, I'm able to write sophisticated C++ programs in minutes using only an Excel spreadsheet. Doing it directly in C++ would take several days."
TurboExcel is available now. Savvysoft is currently offering a free trial
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