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.

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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

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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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