New IBM Cognos Analytic Application Enables Quick, Actionable
Insights into Financial Performance
-- IBM Cognos 8 Financial Performance Analytics offers users the
flexibility to easily adapt and configure a wide spectrum of reports as
fast as their business changes –
BURLINGTON, Mass. (Business Wire EON/PRWEB ) October 2, 2008 --
Cognos, an IBM (NYSE:IBM) company and the world leader in business
intelligence and performance
management, today unveiled a new analytic application designed to
provide organizations with fast, actionable insights into financial
performance using fully-configurable reports.
Many organizations today use ERP systems that do not provide management
the critical financial visibility they need to ensure the business is
performing against strategic objectives. Analytic applications provide a
more cost-effective means to accessing and making sense of ERP data,
offering packaged, flexible reporting and analysis complete with
out-of-the-box metrics and indicators designed to help management
isolate the underlying causes of changes in business performance and act
accordingly before it is too late.
IBM Cognos 8 Financial Performance Analytics for J.D. Edwards and Oracle
E-Business Suite is a packaged business intelligence (BI) application
that grants line of business managers immediate, up-to-date information
on their department’s financial performance,
cash flow, and vendor relationships, facilitating cross-functional
analysis and driving more consistent reporting.
Built on an open, services oriented architecture platform, IBM Cognos 8
Financial Performance Analytics includes configurable connectors to
popular ERPs and other data sources; an adaptable data warehouse with a
dimensional data model specifically for performing financial analysis;
and a complete spectrum of packaged reports and analytics that can be
easily adapted to reflect a company’s
financial management best practices, and modified as quickly as business
evolves.
“Other analytic applications in the market
today trumpet the sheer quantity of packaged reports they offer, but in
most cases, they can only be customized through expensive,
time-consuming and often error-prone means. With IBM Cognos 8 Financial
Performance Analytics, organizations benefit from a core set of packaged
financial reports that is completely adaptable to their ever-changing
business needs, enabling accelerated decision-making and providing the
deep, operational transparency they need,”
said Doug Barton, vice-president of product marketing at Cognos. “With
its pre-constructed data extractions, best-fit data models, and proven
business intelligence layer, IBM Cognos 8 Financial Performance
Analytics empowers today's enterprises to work effectively with
time-sensitive, trusted information in faster cycles of accounting and
control and business performance management.”
Consisting of Accounts Receivable, Accounts Payable and General Ledger
analysis modules, IBM Cognos 8 Financial Performance Analytics
consolidates information from disparate financial data sources into
standard reporting formats, arming managers with at-a-glance insights
into key analysis areas such as planning and performance effectiveness,
receivables and payable risk, cash management, and invoice activity. With
information in hand, management can then make the necessary adjustments
to plans to mitigate risk and ensure corporate objectives are on target.
Based on the IBM
Cognos 8 platform, IBM Cognos 8 Financial Performance Analytics
enables users to extend their information by capitalizing on IBM Cognos’
rich spectrum of performance management capabilities –
including analysis, scorecarding, dashboarding and multi-dimensional
planning – to drive greater business value.
“IBM Cognos 8 Financial Performance Analytics
lets users easily monitor metrics and quickly identify performance
discrepancies in the spirit of driving greater organizational
efficiencies and productivity. I was particularly impressed with how
simple it was to adapt reports and metrics as business factors changed.
In the past, this style of quick, in-depth reporting would have required
a lot of coding and ETL expertise. With IBM Cognos, it's all GUI -- just
drag and drop. It’s incredibly simple,”
said Ed Leduke, business intelligence manager at Ferraz Shawmut, a
division of France-based Carbone Lorraine and a global provider of low
and medium voltage industrial fuse and fusegear, as well as thermal
management for power electronics and power interconnection solutions.
IBM Cognos 8 Financial Performance Analytics is the latest offering from
the suite of IBM Cognos 8 Analytic Applications, joining IBM
Cognos 8 Workforce Performance, which was first unveiled in April
2006. Built upon a single, common foundation for enterprise wide
business performance management, IBM Cognos 8 Analytic Applications are
reporting and analysis applications that help increase resource
productivity and reduce process inefficiencies by delivering a single,
integrated, 360-degree view of an organization’s
business operations.
IBM Cognos 8 Analytic Applications are a key component of IBM’s
Information Agenda, a new approach to information management
consisting of industry-specific software and consulting services geared
to helping customers use information
as a strategic asset across their businesses.
Availability:
IBM Cognos 8 Financial Performance General Ledger Analytics, IBM Cognos
8 Financial Performance Receivables Analytics, and IBM Cognos 8
Financial Performance Payables Analytics will be available in
mid-October, either direct from Cognos or its network of resellers
worldwide.
Note to Editors:
The IBM Information On Demand Global Conference will be held October
26-31, 2008 at The Mandalay Bay Resort in Las Vegas, offering a premium
opportunity to learn more about the future of Information Management,
including IBM’s recently-launched Information
Agenda. For more information, please visit http://www-01.ibm.com/software/data/conf/.
About Cognos, an IBM company:
Cognos, an IBM company, is the world leader in business intelligence and
performance management solutions. It provides world-class enterprise
planning and BI software and services to help companies plan, understand
and manage financial and operational performance. Cognos was acquired by
IBM in January 2008. For more information, visit http://www.ibm.com/software/data/
and http://www.cognos.com.
Cognos and the Cognos logo are trademarks of Cognos ULC (formerly Cognos
Incorporated) in the United States and/or other countries. IBM and the
IBM logo are trademarks of International Business Machines Corporation
in the United States, or other countries, or both. Other company,
product, or service names may be trademarks or service marks of others.
Note to Editors: Copies of previous Cognos press releases and Corporate
and product information are available on Cognos' Web site at http://www.cognos.com.
See the original story at: http://eon.businesswire.com/releases/ibm_cognos/financial_performance/prweb1417254.htm
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