BQMD is an Excel add-in for reporting on Microsoft Analysis Services cubes. The product was originally developed in the late 90s by the Canadian Company OLAP@Work, and later purchased by Business Objects, which was then in turn purchased by SAP.
BQMD is now an end of life product within the SAP portfolio, and is not supported on the later versions of Office. While the product remained static for many years, there were many largely happy customers who stuck with it but ultimately need a BQMD upgrade path at the point of moving to newer versions of Office or Analysis Services.
In our experience customers looking for BQMD alternatives find XLCubed a very good fit. XLCubed is a natural upgrade for BQMD as there is enough familiarity to smooth the user transition, and users are quickly able to replicate the type of reporting they had been using, and move on to some of the additional value add which XLCubed provides. Some of the core concepts are similar, and to replace existing BQMD reports with like for like in XLCubed is very easy to achieve. XLCubed was originally released a few years after BQMD, but has been continually developed in the intervening years, and as such it's now a much richer product. BQMD users transitioning across spend more time exploring new possibilities in XLCubed than they do in getting up to speed on a 'like for like' basis. The Web publication model also offers simple to achieve new delivery options for Web, SharePoint and mobile.