Beyond Spreadsheets: Leverage the Power of IBM Cognos TM1 in your Organization

Does the term “Business Analytics” intimidate you?

Maybe because you start calculating how much more money it will cost you to use business analytics software in your organization, or maybe it’s just because you don’t want to use something the clearly needs the existence of an IT person on your team (or even an entire department of IT professionals in your organization).

If you’re thinking on these lines, let us assure you – you don’t need to be afraid. If you’re still using spreadsheets for your planning, budgeting, forecasting, analysis and scorecarding, that’s what you need to be afraid of.

Why?

Because you are losing opportunities for your organization with limited corporate planning, reporting and analytics with spreadsheets.

Our solution?

It’s IBM Cognos TM1, of course.

cognos tm1 auto-mate

Quoting directly from the IBM website, IBM Cognos TM1 is the planning, budgeting, forecasting, analysis and scorecarding software that is available an on-premise or on-cloud solution, and with extensive mobile capabilities too.

Simply put, it’s the power you need to report and analyze with business intelligence BI. TM1 is the multidimensional cubing engine from IBM, extremely powerful, able to handle enormous volumes of data and calculate answers as fast as a spreadsheet. And you can use it on a range of mobile devices, like an Apple iPad too. Imagine how useful it would be to coordinate and collaborate with even remote and distributed users?

If you’re familiar with spreadsheets already, think of TM1 as spreadsheets with more functions and capabilities. In short, TM1 is the preferred cube engine for Cognos BI, which means you can do planning, budgeting, forecasting, analysis and scorecarding on a much more powerful and sophisticated level, yet in the familiar and non-intimidating environment of a spreadsheet.

We keep referring to spreadsheets here because spreadsheets already have the reputation of being easy to use, even for those who are strictly “non-tech”. TM1 has been designed for people beyond your IT department. It’s meant to be used by EVERYONE in the organization for reporting and analysis, and many more functions and uses.

At Cresco, we provide you with the right tools to realize the full potential of IBM Cognos TM1 and go beyond spreadsheets. Make better business decisions with TM1 – we are right here to help you. Connect with us today.

How are you using spreadsheets in your organization? Tell us!

Finance Analytics with IBM Cognos TM1

IBM Cognos TM1 (formerly Applix TM1, formerly Sinper TM/1) is the enterprise planning software from IBM, used to implement collaborative planning, budgeting and forecasting solutions, as well as analytical and reporting applications. In our “Budgeting and Planning with IBM Cognos TM1 For Higher Education Institutions” article, we have shared how Cresco can help you with budgeting and planning process in your business, and align financial processes for deeper insights.

ibm cognos tm1 cresco

In this article, we discuss how finance analytics with IBM Cognos TM1 can transform the planning process in your organization with advanced as well as on-demand real-time analytics capabilities. And all this can be made available to multiple end-users in Sales, Marketing, HR, and other departments of your organization with minimal training and IT assistance.

Easy to Use

Users require no programming skills to run IBM Cognos TM1. After the initial set-up, users get accustomed to the user-friendly, graphical interface, quickly. Users have been given the freedom to share plans within the dashboards, or via reports. You can also prompt other users (team members) to comment, validate and do individual analysis on their own.

Flexible Modeling

With deep insights capabilities, you can build a plan model easily, and then share it with others by publishing the plan model(s) to the enterprise. Furthermore, these plan models can be further enhanced, and even linked to other plan models to build a cohesive system. There is also the capability of deploying these models in a guided modeling environment to other workgroups for their own contributions, thus helping your teams become more collaborative and adaptive.

Complex Analytics

ibm cognos tm1 cresco

Complex analytics like Profitability Analysis, Predictive Analytics, Risk Analytics, and more can be explored using IBM Cognos TM1. And just in case your users are more comfortable working with Microsoft Excel, you can deploy your analytics to TM1’s enterprise-ready, Excel-based client that provides all the capabilities of enterprise planning and analysis in the familiar Excel interface. A huge relief (and productivity boost) for those end-users who are brilliant but tend to get intimidated using unfamiliar interfaces.

In Conclusion

These were just some of the aspects of IBM Cognos TM1 that can transform your organization with better budgeting and planning processes. At Cresco, we offer many solutions and offerings that can help you further enhance the IBM Cognos TM1 software you have currently installed in your organization. Connect with us today to get started on finance analytics with IBM Cognos TM1.

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