Featured Events

• the accuracy and confidence of your budget, forecast, and planning applications (using IBM SPSS for Predictive Modelling)
• the automation of your external financial reporting processes to support the production and filing of increasingly complex regulatory and statutory reports (using IBM Cognos FSR).

Session Details

Automate external financial reporting processes for management, statutory, and regulatory reporting (IBM Cognos FSR). Your company has very likely just completed another "Results Cycle" in the peak reporting season.  Most organisations find this to be a very onerous process with a heavy reliance on MS Office (Word, Excel, Email) to create, manage and produce a range of high value disclosures and reports including Annual/Half Yearly Reports; Results Announcements; Board Books; ASX Submissions; Statutory Reports; MD&A and so on.

Whilst many companies have investments in traditional BI, Consolidation and OLAP tools like TM1, they are still forced to rely on MS Office to handle the preparation of collaborative "Process Oriented" disclosures and reports highlighted above.

There are typically many challenges around this approach regarding collaboration, hand-offs, segregation of duties, approval regimes, versioning, data accuracy, data consistency, audit trail and internal controls.  Pressure to meet tight timelines and deadlines is relentless. Manual processes usually dominate with significant re-keying, "cutting and pasting" and 'ticking and tying" of numbers required. XBRL submission is also a looming issue with impetus from the Australian Government SBR (Standard Business Reporting) initiative.

Late last year, IBM acquired a proven, innovative solution from Clarity Systems that helps automate, govern and control these manual reporting processes that rely on MS Office and Email.  This solution, now called IBM Cognos FSR, is integrated with TM1 and can complement your investment in TM1 to reduce the risk of errors, omissions, missed deadlines, non-compliance and late filings whilst improving:

• productivity and efficiency through eliminating non value add manual steps and automating steps where appropriate
• timeline and deadline management through process and workflow controls, visibility of status and reduced cycle times
• quality and business insight outcomes through reduced errors and omissions and more time for value added analysis, contribution and QA
• governance, control and auditing acceptability through better controls and a clear audit trail
• staff morale through the elimination of non-value add manual tasks.

Cortell and IBM will discuss:

1. How FSR can leverage your TM1 investment?

2. How FSR can leverage your existing IP and skills around MS Office?

3. How FSR delivers the business benefits highlighted above?

4. Why RailCorp decided to complement its TM1 investment to meet its requirements for Published Reports (commentary and analysis around variances and actuals). 

5. What skills and resources are required to deploy FSR?

Increase the confidence levels and accuracy of your budgets, plans, and forecasts (IBM Cognos SPSS).  With the recent inclusion of SPSS into IBM Business Analytics, you can now leverage the power of Predictive Analytics in forecast planning by extending the existing TM1 modelling capabilities.