Data consolidation needn’t cause you headaches
IBM Planning Analytics / TM1 is the most comprehensive data consolidation platform on the market because of its functional database design and its wide-ranging suitability for enterprise planning. No matter what type of data you need to bring together, Cubewise can help you leverage this tool to do it efficiently and effectively – unlocking the true potential of a single, unified data warehouse.
This is how you can maximise the impact of the data your organisation has its disposal.
Common challenges
Multiple data formats
The more data formats you deal with, the trickier it becomes to consolidate it effectively.
Complex data flows create errors
Whenever you are transforming data from one type to another, you run the risk of introducing errors along the way. You have to be vigilant about how you’re merging databases or spreadsheets. If you don’t, you’re going to have inaccurate information with no clues as to where things went wrong.
Data corruption
Failure to get your integrations right can corrupt your datasets. This won’t just cost you time and money, it can cast doubt on the veracity of your work overall. At an enterprise level, data corruption roadblocks can be devastating and should be avoided at all costs.
Powerful data integrations
IBM Planning Analytics / TM1 is an enterprise-grade platform that can handle any data type with ease. Here at Cubewise, we can help you leverage this software to harness the complexity of your business and consolidate your data effectively so you can achieve seamless planning across all of your functions.
Consolidation audit trail
Once data has been consolidated, how do you evaluate its performance and spot potential errors?
Lack of transparency
Transparency in relation to your data and how it is being consolidated can enable you to monitor performance and pick up issues quickly. However, when transparency is lost, you can easily miss things as data gets consolidated and loses its granularity. This degrades the usefulness of information and leaves you guessing what’s happening below the surface level of your data.
Black box problems
Once data has been consolidated, you lose the ability to investigate where potential errors occurred, meaning those mistakes are baked into the final product. This can lead to poorer decision-making and suboptimal performance management that can have far-reaching implications for the organisation. Being in the dark like this is not a good place to be, regardless of how much or how little complexity you’re dealing with.
A nuanced audit trail
Cubewise and IBM Planning Analytics / TM1 offer a sophisticated system with a powerful built-in audit trail so you can see exactly how your data was consolidated and which parameters were merged to make it happen. This gives you the insights you need to make corrections when you pick up that something has gone wrong, saving you time and stress in the process. It’s a safety net you just can’t place a value on.
Unsuitable technology
Without the right tools for data consolidation, your financial, operational and regulatory processes can become a massive headache.
Manual processes
Your consolidation tool should always automate processes as much as possible to minimise room for human error. When there are too many manual processes involved, the consolidation process is stymied and this can place unnecessary stress on your team members. Your organisation should seek to automate its processes as much as possible.
Poor deployment of resources
A lack of automation forces you to use highly qualified personnel who have limited time to perform tedious tasks just so you can get the consolidation right. This opportunity cost is significant and can drag down profitability. This is fully avoidable if you make use of fit-for-purpose technology that can adapt to your various data types and deliver highly precise and accurate consolidations across the board.
Fit-for-purpose tools
IBM Planning Analytics / TM1 offers a full suite of consolidation tools that automate and streamline your workflows to get the most value out, with the fewest inputs in. Cubewise can help you unlock the potential in IBM Planning Analytics / TM1, thus freeing up your staff to focus their efforts on more important tasks at hand. The gains here then compound throughout the organisation, even beyond the consolidation itself.
Consolidation is easier than ever before
Here at Cubewise, we can help you implement IBM Planning Analytics / TM1 as your data consolidation tool of choice. The technology is built for exactly this purpose and can handle any type of data that your company wants to integrate. Complete with thoughtful automation, you can focus your efforts on what really matters, while letting your technology do the rest.
Remove headaches from the consolidation process and arrive at an effective and efficient solution every time. You’ll be glad you did.
Talk to us today and let’s overcome the challenge together.
When a system is unable to adapt to changing business circumstances, it can be tremendously frustrating for all who work with it. Things must go on, of course, and so users will resort to building tedious workarounds, simplifications and shortcuts that only serve to kick the can down the road.
Don’t accept that your business processes are incapable of adapting to fast-moving market changes. Contact us to find out how easy it can be to implement efficient and practical planning, reporting and forecasting workflows.
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