IBM Cognos TM1
IBM Cognos TM1 is a leading midmarket corporate performance management application helping companies streamline their budgeting, forecasting, financial consolidation, and data analysis processes. What makes this product unique is its patented 64-bit, in memory OLAP server. What does this mean to you and your company? Simply put, Cognos TM1 can edit and analyze enormous amounts data in seconds that would normally take similar applications minutes or hours to complete. Cognos TM1 can do this because all data is stored in your server's RAM memory, not a relational data base or flat files.
Budgeting and Forecasting
Is your company currently completing its budget and forecasts in spreadsheets? Are you currently using a budgeting application that doesn't allow the level of planning you require? IBM Cognos TM1 can help. Because TM1 stores your data in multiple dimensions, budgets can easily be completed by cost center, entity, channel, or any key reporting dimension. Additionally, data can be input by your end users via the web, allowing your top down objectives to be managed with bottom-up input.
Financial Consolidation
With IBM Cognos TM1, financial statements from multiple companies can be consolidated into a unified chart accounts via flat files or ODBC connections to your general ledger databases. With this application you can configure currency translations, inter-company eliminations, and complex allocations. Close cycles that sometimes take weeks can now be reduced to days.
Data Analysis
With any good budgeting or financial consolidation application, you must be able to report on your data. With its 64-bit in memory OLAP server this is by far the fastest application in the industry and can easily process millions of transactions. Its web reporting functionality allows end users to access the application regardless of location and its multi-dimensional configuration allows you to analyze your data based on any dimension. Easily perform budget to actual variance calculations or "what if" analysis allowing you to easily identify changes in the market that affect your companies revenue and expenses. For those companies already using Cognos applications, you can easily integrate the IBM Cognos TM1 data into your IBM Cognos BI reporting package.
TM1 at Thoughtstream Consulting
To inquire about Cognos TM1 and the services that Thoughtstream Consulting can provide your company, please contact Michael Orechwa at (213) 596-8296 x707 or via email at mikeo@thoughtstreamconsulting.com.
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