Addedo presents its TM1 solution for Cognos Controller at the IBM Forum for Finance in Zurich
2009-05-14 : Zurich, Switzerland
IBM Cognos Finance Forum was reported a success, some say thanks to Addedo’s and Senior Consultant Patricks Slama’s presentation on financial reporting for today’s changing environment.
Close to 100 senior finance executives came to listen to a series of presentations on financial performance management. Patrick Slama, Senior Consultant at Addedo AG talked about the Franke solution. Franke is a world leading supplier of kitchen solutions.
The unprecedented economic events of 2008 have cast a harsh light on many organisations’ financial performance management practices. At a time when uncertainty, volatility and risk are at all time highs, many organizations are seeking solutions and best practices that allow them to better accommodate for this.
To stay in control in these times, Business Managers and Controllers regularly try to find answers to questions like “how are doing?”, “why are we deviating from last year’s figure or budget in this particular business line?” and “what should we doing about it?”.
IBM Cognos provide software tools to help answer these questions. And Addedo provide solutions applying their vast experience and knowledge leveraging these tools along with their best practices on process improvements into unique solutions for financial performance management.
Senior Consultant Patrick Slama showed with support from two world leading tools from IBM – Cognos TM1 and Cognos Controller, the former tool being an advanced OLAP engine for real time reporting and the latter an application for financial consolidation. Using Addedo’s Turbo Controller integration, Business Controller and Analysts have access to consolidated, validated and relevant information from IBM Cognos Controller within TM1,.
The ability to drill from consolidated data all the way down to the account level; slice and dice, filter or modify the view by using simple “drag and drop” functionalities allows Business Manager to get answers to the question “why?”. It is also possible to make trial-balance analysis, look for revenue differences or implication of exchange rates on all levels in the hierarchy or structures. These are some of the many features offered by the Addedo’s Turbo Controller integration.
The solution supports both a top-down and a bottom-up approach to planning. Any scenario can be elaborated and supported. Creating a new scenario is done within seconds and data can be collected from the subsidiaries. Other scenarios can be based on existing data, for example last year actual with a drop in revenue of x percent. The subsidiaries have then to adapt their cost plan for this scenario. The Financial Management team can decide to consolidate one or many of these scenarios using IBM Cognos 8 Controller.
Contact:
Michael Kempter, Country Manager, Addedo Switzerland
Mobile +41 792 491 510
info@addedo.ch
Johan Berggårdh, Country Manager, Addedo Sweden
Mobile +46 70 3217732
johan.berggardh@addedo.com
About Addedo
Addedo is an independent consultancy. Our consultants work for the CFOs and Group Finance function. We identify and implement improvements in partnership with our clients. Through information technology and process changes we help transform these improvements into better corporate performance. We serve a large client base ranging from emerging businesses to the largest Fortune 3500. Common for many of our clients is that they want to improve and support their reporting and consolidation process.
Addedo has offices in Sweden and Switzerland and the UK. This is where the bulk of our customers are located, even though many of our consultants are engaged in projects throughout Europe.
We strive to be the pan European consultancy partner to Group Finance.
Being one of the leading CPM software consultancy firms with extensive experience from working with all the market leading vendors, Addedo was an obvious choice for us.
-Kristi Härding, IT Director, Diaverum