Empyrean

Empyrean Solutions productizes services, gains competitive advantage.

Leading financial software services provider partners with Pyramid Analytics for its unmatched capabilities.


CHALLENGE	SOLUTION	RESULT
Empyrean required a unified reporting tool to aggregate data from all products.	Pyramid’s multisource direct data access provided a unified view.	A single platform fulfilled all client needs, integrating seamlessly with Empyrean’s Microsoft backend.
After a disappointing experience with a previous vendor, Empyrean sought reliable customer support.	Pyramid offered easy embedding capabilities backed by a customer-centric support team.	Pyramid’s supportive and knowledgeable team helped Empyrean grow their business.
Empyrean, catering to the financial services industry, needed data-intensive report styles.	Pyramid provided accounting themes, diverse report styles, and visualizations.	Empyrean’s clients now access comprehensive, industry-suited reports, dashboards, and scorecards.
Empyrean needed to organize hierarchical information by assigning unique keys to parent attributes.	Pyramid’s parent-child and ragged hierarchies offered a code-free, drag-and-drop interface.	Pyramid automatically generates hierarchical structures and metadata, facilitating direct querying on existing data sources.
Empyrean sought a solution that could be fully embedded in all its applications.	Pyramid’s easy embedding capabilities catered for up to 10,000 customers.	Empyrean embedded Pyramid as their primary data reporting tool in web applications.
As each customer had its own database, Empyrean needed a multi-tenant platform.	Pyramid’s direct querying to Empyrean’s client databases allowed secure SQL databases and data models for each tenant.	Empyrean provides bespoke experiences for clients, each with their own database and Pyramid deployment.

Based in Boston, Empyrean Solutions provides risk and performance management software and services to financial services companies (primarily banks and credit unions) to manage their balance sheets and comply with regulatory and internal demands.

Continually seeking competitive advantages in their marketplace, Empyrean was looking to increase both revenue and customer satisfaction across their financial services solution.

THE CHALLENGE

The Empyrean solution suite has grown to require more standardized reporting and distribution, as well as more slicing and dicing of data. They wanted a productized approach to reporting across all their solutions in the form of an embedded umbrella reporting tool that could pull data from all their products and enable clients to get reports out of a single place instead of being siloed in each application.

But Empyrean had been burned before. Several years earlier, they contracted with a vendor that did not deliver. “It was a nightmare,” says Kevin Studders, Empyrean’s director of product & strategy. “They had it working with MacGyver band-aids and masking tape. Support was nonexistent, and it was miserable.”

“That restarted our journey into looking for off-the-shelf BI and analytics. We were not just looking for graphs and charts and simple grids. We do traditional reporting—unsexy blocking and tackling of hundreds of rows with 30 columns of just numbers. We needed to do things like financial statements, full balance sheets, and income statements—very data-intensive report styles. We were not entirely sure we would find an off-the-shelf platform that could align with our more reporting-focused view of BI and analytics.”

They were so afraid of getting burned again that the Empyrean team evaluated 40+ potential vendors before choosing the only one that could meet all their needs in one platform: Pyramid Analytics.

THE SOLUTION

Pyramid’s understanding of the financial services space was unmatched, and it was the only platform that offered all the functionality Empyrean needed, including:

The ability to provide parent-child and ragged hierarchies
Easy embedding capabilities for up to 10,000 customers
Fast delivery
One end-to-end platform to meet all client needs
Responsive, knowledgeable, customer-centric support

“I had read every word in Pyramid’s documentation,” Kevin says. “I thought there was no way it was going to work. We went in very, very jaded and expecting the worst. But it’s been night and day. Everyone we’ve worked with has been very professional and very knowledgeable. They demystified everything, and the platform has been exactly as advertised.”

THE RESULT

With Pyramid, Empyrean has improved the user experience for its clients by giving them the ability to answer multiple questions in one single-source platform. Pyramid’s Decision Intelligence Platform queries directly to Empyrean’s client databases. They are multi-tenants in which every client has its own SQL database and its own Pyramid data models that connect specifically to them, along with unique security permissions. Empyrean is able to provide a very bespoke experience for each tenant, each of which gets its own deployments of both the database and Pyramid.

“There is a 100% requirement that we have a reporting solution, and we are able to deliver the style and structure, and content in those reports that our clients expect,” Kevin says. “Pyramid has enabled us to do it. We’re able to use Pyramid to display data in a way that our clients require but that they struggle to do with other platforms. It’s been a competitive advantage for us.”

“Pyramid has allowed us to deploy this productized, standardized, but comprehensive and holistic solution to our clients.”

THE FUTURE

Empyrean mapped its partnership with Pyramid into four distinct phases:

Embed Pyramid in its individual applications.
Enable clients to access reports in a single view across applications and other reporting tools.
Aggregate the data and draw insights through Pyramid internally.
Bring AI and machine learning into the data.

Currently in phase 1, Empyrean is planning to use Pyramid in an effort to incentivize their clients to build new content themselves, essentially outsourcing the production of new content and data aggregation. This will allow them to do reporting across a large swath of data that is multi-client, multi-state, and multi-regional. If Empyrean can aggregate the data, mine it, and drive insights or data services, they can then sell it back to their clients, opening up a whole new revenue stream.

With Pyramid Analytics, Empyrean can:

Aggregate data efficiently.
Provide data-intensive industry reports.
Organize complex, hierarchical information easily.
Deliver bespoke multi-tenant solutions.

We’re able to use Pyramid to display data in a way that our clients require, but that they struggle to do with other platforms. It’s been a competitive advantage for us.

– Kevin Studders, Director of Product & Strategy at Empyrean

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