IBM has enhanced its performance management software, which it claims to help CFOs and finance managers accelerate the adoption of business analytics and drive smarter decisions.
According to IBM, the new features added to its analytic offering include, new business analytic capabilities for end users to provide dynamic hierarchies and allow flexibility for end user scenario building; financial consolidation capabilities with enhanced allocations and formula calculations for preparing financial reports and analyses; and industry blueprints with product profitability and financial analytics.
The company said that the new analytic capabilities added to Cognos TM1 will help finance leverage trusted information and the new version of Cognos 8 Controller extends financial consolidation capabilities with allocations and formula calculations used for preparing financial reports and analyses.
IBM also introduced new Cognos Performance Blueprints which include product profitability and financial analytics, demand planning for consumer packed goods customers, and an executive underwriting dashboard for insurance clients.
The business analytics offerings for finance provides a single line of sight across all time horizons. Planning and consolidation combine the forward management view of the business with the current and historical view of the business, IBM said.