IBM Cognos Performance Management is the software category under which IBM groups its software’s portfolio mainly aimed at the Office of Finance.
IBM started to build up this software portfolio with the acquisition of Cognos and has since then largely extended it with the acquisition of others software packages, together with continued investment in the development of the various several modules and the integration between them.
The solution mainly consists of various modules as shown below:
IBM Cognos Planning
IBM Cognos Performance Management Planning is used to be the solution specifically aimed at automating Planning, Budgeting and Forecasting processes. This solution is currently not being developed actively any more by IBM, although it is still being used by many customers and supported by IBM
Cognos 8 & 10 Planning
- It is an integrated, scalable solution for planning, budgeting and forecasting. IBM Cognos Planning integrates the financial and operational planning in real time for immediate visibility into resource requirements and future business performance.
- Its distributed administration capabilities allows for localized responsibility plan processes across the functions, geographies, and the business units in a single, unified, secure planning environment. Cognos 8 Planning enables both bottom up objective setting and top down contribution.
- This helps to secure the necessary buy-in and accountability at lower levels of the company and connect the field management and senior executive team. The result is improved forecast reliability.
- It is the successor to Cognos Planning. It combines the data entry and strong workflow functionality of Cognos Planning with the advanced modelling and calculation engine of TM1.
- Within the IBM Cognos Competence Center, element61 has 30+ years expertise in IBM Cognos TM1, including integration with an existing Cognos Busines Intelligence environment,an existing data warehouse architecture or linking up Cognos TM1 with ERP-systems like Oracle and SAP or a data warehouse infrastructure like SAP Business Warehouse (SAP BW) or Microsoft Analysis Services (MSAS).
- IBM Cognos TM1 provides a complete analytics, planning and reporting environment for the critical company-wide performance management activity driven by Finance.
- It supports a full range of business requirements: from real-time customer, high-performance, and profitability analysis and flexible modelling to enterprise contribution for financial and operational targets for a broad range of usersfrom manufacturing, sales and service to finance, human resources and marketing.
It is one of the market-leading Consolidation solutions, built on the Frango acquisition by Cognos in 2004.
Within the IBM Cognos Competence Center, element61 has senior expertise in both IBM Cognos Controller and the underlying functional processes for financial reporting and consolidation.
Furthermore, as Cognos Controller integrates with Cognos BI and Cognos BI, element61 offers the combined IBM Cognos platform skills to come to a integrated end-to-end CPM solution.
The solution typically allows to :
- Reduce the duration of time to close by discarding a lot of manual steps
- Reduce the resources involved and manhours required during the close process
- Eliminate calculation errors and data by introduction of checks and business rules
- Automate financial consolidation and elimination procedures
- Provides auditable financial results and associated workflow
- Produce state-of-the-art financial statements
- Deliver integrated financial reporting and analysis
IBM Cognos Controller is the most unique in the market as a financial consolidation solution that is really built for the finance user, who maintains the solution independent from ICT.
IBM Cognos FSR
- IBM Cognos Performance Management FSR (Financial Statement Reporting) for “the last mile” of financial reporting & management books, result of the Clarity acquisition in 2010.
- By enriching constantly its complementary with portfolio solutions and by working constantly on the integration of all those components together.
- IBM is recognized by Gartner as being able to offer a complete and robust platform to deliver Budgeting, Planning, Forecasting and Consolidation functionality at all levels of your organization in order to do better predict and manage the business, and therefore belongs to the leaders section in the Corporate Performance Management Platforms Magic Quadrant.
Locus IT has worked with BI industries that utilizes the IBM products and has provided unique solutions to their requirements. We also provide IBM Cognos product implementation, IBM Cognos Training and IBM Cognos Support. For more details please contact us.