Scottsdale, AZ, Financial Services Technology Forum, September 23, 2002. i-flex solutions, a global provider of integrated IT solutions for the financial services industry, today launched Reveleus, a newly formed business intelligence and analytics division. i-flex created this division to enable organizations to leverage the power of business intelligence to respond to market needs, enhance customer service levels and manage business risk. Reveleus builds on the proven success of the FLEXCUBE Information Center analytics solution, which is live in more than a dozen countries, and which has been significantly enhanced to further address the growing market potential for business analytics.
Reveleus embeds i-flex's deep financial services domain experience into a suite of powerful, ready-to-deploy analytic applications that enable organizations to reduce costs, manage risk and improve the quality of information. Reveleus takes a new approach to analytics, providing a consistent and complete view of the enterprise through the use of Reveleus Unified MetadataTM, which enables decision makers to analyze information using common business terms.
The current economic uncertainty is leading enterprises to redouble their efforts to reduce costs, manage risk and improve accuracy and transparency of information. Enterprises are increasingly deploying analytic application suites and business intelligence solutions to address these vital issues.
IDC, a leading market research firm, has pegged the global market for analytic applications at $2.7B in 2001, growing to $5.1B by 2006. According to Dan Vesset, senior analyst at IDC, "At a time when management teams are looking for improved and more rapid support for their decisions for cutting costs and improving revenue, analytic applications will continue to assume an increasingly strategic role."
Hewlett-Packard, a leading technology solutions provider, is currently working with Reveleus to deploy business intelligence solutions. According to Owen Kemp, General Manager and Vice President of HP's Financial Industry Business Unit, "HP values its relationship with Reveleus. The Reveleus suite of products is in use today by several HP customers. Furthermore, our two organizations are working on several opportunities where Reveleus' unique capabilities allow enterprises to reduce costs, manage risk and improve the quality of information."
"We have established a proven track record of providing business intelligence and analytics solutions under the FLEXCUBE brand during the past several years," said. R. Ravisankar, CEO, (International Operations and Technology), i-flex solutions. "We are seeing a strong need for these capabilities as organizations increasingly invest in business intelligence and analytics to address immediate issues. Our decision to launch a separate division is driven in large part by this accelerating demand, and we're dedicating substantial resources to the ongoing success of the Reveleus family of products."
S. Ramakrishnan (SR) leads Reveleus as CEO of the division, which is based in Parsippany, New Jersey. He brings more than 20 years of experience in global finance and technology and is an early innovator in the field of data warehousing and business intelligence at Citibank.
All Reveleus products are available immediately and are distributed through the i-flex global sales organization, resellers and implementation partners.