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Spend Analysis Becomes More Intuitive With BIQ

New Release Extends Decision Capture Technology to Text Mapping

Southborough, MA October 18, 2007 — BIQ, a provider of innovative spend analysis tools, today announced the availability of a major release of its spend analysis software.  This release of the product, also called BIQ, introduces a powerful text-mapping capability that interoperates seamlessly with BIQ's Decision Capture Mapping System.

BIQ's spend analysis solution is built around a simple premise: business analysts can handle powerful processing and reporting capabilities without the help of IT or consulting services.  BIQ differs from conventional spend analysis tools in three important ways:  it gives business users the power to create and map their own datasets quickly and easily, to explore large datasets without being encumbered by rigid hierarchies and fixed data dimensions, and to analyze an enterprise-size dataset on an ordinary laptop with just a few mouse clicks.

With this release, BIQ users are further empowered with a facility to quickly create text-based rules that capture and record their own mapping decisions.  Text-based rules are mapping rules that classify items based on text descriptions. They are useful when conventional clues, such as general ledger codes and supplier names, are either missing or imprecise.

Eric Strovink, BIQ's CEO, stated, "As with BIQ's existing mapping system, human intelligence is the essential ingredient in our new phrase-mapping facility.  Users can quickly create their own text-mapping rules and apply them in real time.  By capturing and automating their reasoning, BIQ constructs an intelligent mapping knowledge base that is both accurate and sustainable.

"We have one overarching goal for every product release -- enhance the user's ability to perform real time, high-quality data analysis without having to run back to a vendor or third party every time they need the data structured in a different way. This autonomy gives users the power to uncover continuous savings opportunities, independently, which is BIQ's essential value proposition."

As with every BIQ product enhancement, text-mapping is available to users at no extra charge.  BIQ is available for as little as $3,000 per month.

About BIQ
A 2007 Gartner Cool Vendor, BIQ's mission is to provide innovative, enterprise level data analysis tools for the business analyst at a reasonable price. BIQ users are from large and small enterprises within the financial, services, retail, healthcare, and manufacturing sectors. For more information, visit www.busiq.com.

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