OutlookSoft

About OutlookSoft

OutlookSoft Corporation, founded in 1999, operated from Stamford, Connecticut, establishing itself as a key player in the Enterprise Performance Management (EPM) market. The company was brought to life by Bob Scheier and Tom Shea. Tom Shea, with a background in accounting, finance, and systems analysis, previously co-founded UpStream Software, where he developed products for financial data quality management, showcasing his expertise in the intersection of finance and technology. This experience was foundational to OutlookSoft's direction.

The firm specialized in providing a unified software solution for corporate performance management. Its core product, initially named “Everest” and later OutlookSoft 5, was a comprehensive platform built on Microsoft technology. This platform offered functionalities for financial consolidation, strategic planning, budgeting, forecasting, reporting, and predictive analytics. A key feature was its use of Microsoft Excel, Word, and PowerPoint as familiar user interfaces, which allowed clients to access centrally managed plans and budgets. The business model centered on selling this licensed software and providing related consulting, implementation, and support services to a global clientele. By 2007, the company had grown to serve approximately 700 customers.

A significant milestone in OutlookSoft's history was its legal victory against competitor Hyperion over software patents in 2006. This event preceded a major market consolidation in the business intelligence sector. In May 2007, as part of a strategic move to compete with Oracle, SAP announced its acquisition of OutlookSoft for an undisclosed price, estimated to be between $200 and $400 million. Following the acquisition, OutlookSoft's flagship product was integrated into SAP's portfolio and rebranded as SAP Business Planning and Consolidation (BPC). Many of OutlookSoft's key employees later transitioned to roles at other firms, such as Column5, continuing their work with the BPC software.