The development of ProductXpress began in the 1990s by the Dutch company Essentium. Via several acquisitions,
ProductXpress was acquired by Hewlett Packard Enterprise and is now being successfully marketed worldwide. RiskCo is implementation partner and distributor of HP’s ProductXpress package.
What ProductXpress offers:
- The possibility for product specialists and actuaries to model their products themselves in a graphic user’s interface. Programmers are no longer needed.
- The option of immediately testing changes. All of the calculations steps taken are easy to follow.
- Extensive and integrated version management. It is always clear to see who has made which changes when.
- Easy integration into existing IT infrastructure, scalable and fast.
- Single Point of Definition & Calculation.
ProductXpress is a product engine designed to make the calculation of financial products manageable and reproducible. ProductXpress consists of two components: ProductXpress Designer, ProductXpress Calculator
A design platform with which product specialists can themselves develop and manage a calculation model for financial products.
ProductXpress Designer is a multi-user platform to iteratively design, test and document financial products. It is an intuitive and user-friendly tool with which the product expert himself can design and maintain products. Programmers are not needed.
- Designer enables product experts to model the product and calculation rules (functions) on the basis of standard mathematical notation, using tables, variables and value calculations.
- Via the ‘Publish’ function of Designer, you have access to transparent and unambiguous product information. This is extracted from the model and clearly presented in a PDF document.
- Designer forces models to be consistent, thus reducing the risk of error.
- Designer has a strong and integrated version management system. It is always clear who has changed what when.
- Designer supports an analysis of differences between diverse versions. This also allows you to assess intended changes.
- Designer has robust test facilities, including “what-if” scenario test functions. This enables iterative designing and testing.
ProductXpress Calculator is a scalable and platform-independent software package designed to make calculations. ProductXpress Calculator interprets the models made in ProductXpress Designer and calculates their effects. After a model has been loaded in ProductXpress Calculator, external applications can send calculation requests to ProductXpress Calculator.
ProductXpress Calculator offers the possibility of quickly and manageably making the financial models from ProductXpress Designer available to the diverse front, mid and back office systems within an organization.
As a result, all systems will calculate in exactly the same way, leading to a ‘single-point-of-calculation‘.