Transform your finance department from the inside out
IBM Planning Analytics / TM1 is the ultimate all-in-one platform that a finance team can use to manage its international operations. It combines financial, operational and regulatory reporting in a powerful collaborative tool that can be custom-built to suit your business’s unique needs.
Escape the dreaded spreadsheet and transition to a dynamic and fully comprehensive reporting environment that delivers more accurate results more efficiently than ever before. What are you waiting for?
Common challenges
Excel Hell
At an enterprise scale, Microsoft Excel quickly runs into limitations that can make financial processes less efficient than they should be.
Complexity challenges
The more complex your business becomes, the more difficult it gets to manage information contained in static Excel spreadsheets. While the software is powerful, it simply doesn’t allow for sophisticated handling of different data sources and types, nor can it process and analyze your data properly. This severely limits what your Financial Planning & Analysis (FP&A) is capable of, thereby reducing what your finance team can accomplish.
Suboptimal decision-making
When you’re making decisions from analysis done in Excel, you’re limited to a very specific set of considerations and functions that may not suit your organization’s unique needs and circumstances. This leads to suboptimal decisions being made that can affect you both financially and operationally. Without being able to harness your organization’s true complexity, you leave a lot of value on the table.
Harness your complexity
Cubewise and IBM Planning Analytics / TM1 offer a truly comprehensive FP&A platform that can help you take advantage of your organization’s complexity and use it to make better decisions. By pulling all your data into one place, you can leverage the power of the system to accomplish advanced and sophisticated analysis. You’re only limited by your imagination.
Collaboration challenges
When using spreadsheets, version control can quickly become a nightmare, slowing down processes and causing duplication of effort.
Multiple versions
When you’re coordinating financial reporting across different teams and functions in a spreadsheet, you end up working through multiple versions that must be continually updated as you go. Not only is this highly inefficient, errors can be made because your static spreadsheets are progressing at different speeds. Someone must then be tasked with managing the entire process, creating a bottleneck in the process.
Duplicated effort
When collaboration happens in a static environment like a spreadsheet, you can find that work is done repeatedly as it interacts with changing inputs and decisions. This can be incredibly frustrating for the finance team and wastes resources that could be used better elsewhere. The lack of a dynamic, collaborative platform results in a suboptimal workflow that isn’t suited to the demands of the modern business environment.
A single source of truth
Cubewise can help you leverage IBM Planning Analytics / TM1 as a functional database that facilitates seamless collaboration in real time across all your FP&A needs. As a single source of truth, everyone can contribute in their own time to an ever-evolving dynamic FP&A ecosystem, streamlining workflows and supercharging what your finance team can achieve.
Reporting alignment
The finance team is responsible for operational, financial and regulatory reporting. How do you make sure everything is aligned?
Multiple views of the same data
The finance team is tasked with slicing and dicing company data in multiple ways depending on the stakeholder and their requirements. This is a challenge if the team doesn’t have the technology that enables dynamic reporting. When the finance team is forced to rely on manual data transformations, processes very quickly become complicated and overwhelming.
Misalignment of incentives
When different reporting paradigms aren’t aligned effectively, a mismatch is created in how the company is managed financially, operationally and from a regulatory perspective. This can cause strategic rifts that slow progress and work against a singular objective. Reporting needs to be consistent regardless of how your data is presented. This flexibility goes a long way to ensuring the right decisions are made by each team and stakeholder.
Dynamic reporting framework
Cubewise can help you with implementing IBM Planning Analytics / TM1, a dynamic reporting tool that allows you to use data in infinite ways. Leveraging the comprehensive data warehouse, the finance team can pull reports that align with specific needs without having to build them from scratch. This goes a long way towards streamlining workflows and gets the most out of the data you have.
Give your finance team the tools to thrive
Your finance team’s productivity is very often dependent on the technology it uses. IBM Planning Analytics / TM1 is a groundbreaking FP&A suite that offers tremendous value across reporting, planning, analysis, data consolidation and much more. It’s the sort of tool that can completely transform your organization and take your performance to the next level.
It’s time to put spreadsheets behind you and move to a dynamic ecosystem that can meet the needs of the modern workplace. What are you waiting for?
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.
