Just before the Easter break, I had the opportunity to talk with Lee Campbell, CEO of CubeLogic who told me that CubeLogic has essentially doubled in size over the last 12-months and now has around 55 staff and 25 clients. The company was founded in 2009, with a ‘clear vision to provide out of the box risk and reporting solutions using the latest Business Intelligence platforms and concepts.’ It has offices in the UK, USA, Singapore and Bangalore. Apparently, business is good as Mr. Campbell also disclose that it had just recently won a couple of new deals.
The most recent announcement from the company was regarding the launch of ‘Cubes in the Cloud’ and its first customer – a utility. At the time, Mr. Campbell said “This is an important step forward for CubeLogic and we see SaaS becoming the preferred method of adopting innovative, new technologies. With increased regulation and market volatility, firms need to be agile and use technology which supports their ever-changing business needs. The benefits of deploying software in this way are such that upgrades and changes can be implemented swiftly, there is far less disruption to business-as-usual and costs are reduced. Our particular solution already has extensive functionality across credit, market, liquidity and regulatory risk management and our roadmap is packed with new features over the coming months as we continue to invest in our solutions. More importantly, we already have our first live client on the platform.” Cubes in the Cloud is a true multi-tenanted offering, he told me. However, so far, most users still wanted it in their own environment albeit delivered as Saas.
In common with many other vendors we have spoken to recently, CubeLogic has seen an increase in activity. In particular, metals have been more active and more generally, he sees a replacement market developing across the commodities space, he told us. The increase in activity could be down to ‘IT budget purse strings being loosened, increased volatilities and more emphasis on risk, as well as the fact that we have done a bit more marketing recently,” he said.
He was also upbeat about product development with a large initiative with a client about to produce a new cube, some work with tabular cubes going on internally and a new cloud product in the works too. Additionally, CubeLogic has just announced its ISO 27001:2013 certification following an extensive independent audit of their systems and processes. ISO 27001:2013 is an information security standard published by the International Organization for Standardization (ISO), the world’s largest developer of voluntary international standards, and the International Electrotechnical Commission (IEC).