Jason Daniels, chief operating officer at Verde International, was searching for a way to automate Excel functions in SQL Server. Verde regularly uses Excel to help executives at financial institutions understand the value of a client relationship.
“Excel is a great tool for prototyping these solutions on a single-case basis, but when it comes to applying complex financial models to a client’s entire portfolio, Excel just doesn’t cut it, which is why we also use SQL Server,” explains Daniels. “The problem with using SQL Server is that we have to develop additional abstraction layers to perform these Excel calculations – a very time-consuming process for our developers.”
After researching his options, Daniels began using Westclintech’s XLeratorDB product.
With XLeratorDB, Verde International wasn’t forced to hire a developer to create and test these SQL functions.
“In the past we’ve had to create our own custom SQL functions, and many times, had to scale back functionality, taking shortcuts to meet deadlines,” says Daniels. “It’s never fun to tell a customer that you have to give them less than what they need -- with XLeratorDB, we no longer have to worry about that.”
XLeratorDB’s Excel-like functions enhance the flexibility of SQL Server. Its comprehensive library contains hundreds of the most widely-used Excel functions including internal rate of return (IRR and XIRR), net present value (NPV) and cumulative principal paid (CUMPRINC) for SQL Server.
“We’ve saved as much as 20-30 percent of total development time thanks to XLeratorDB,” says Daniels. “With XLeratorDB, we can give our clients the means to automate many of their underwriting decisions, lowering their costs and reducing errors.”
Today, Daniels doesn’t have to worry about updating Verde International’s systems.
“XLeratorDB is like having a team of developers creating and testing functionality that is directly translatable into features we can incorporate into our own products,” explains Daniels. “These are some very powerful tools to have in our database development toolbox, and they are well worth the investment. In terms of ROI, XLeratorDB’s functions paid for themselves very quickly.”