IBM Planning Analytics (TM1)
Ever wonder why it's hard for many companies to consolidate their budget and forecast data? That's because they still rely on Excel as their primary budget and forecast tool. Each department sends its spreadsheets to the finance department who will consolidate the numbers from various departments, analyze the numbers and if something is not right, they will need to ask each department to revise the numbers. Not to mention if some departments send their revisions after the numbers have been consolidated. All of these processes take a lot of time and resources, creating burdens for the finance department and more importantly, they are prone to errors.
Eliminate the hassle of consolidation and avoid human errors with IBM Planning Analytics (TM1).
IBM Planning Analytics (TM1) is not only a Budgeting, Planning, Forecasting tool but it is also an Analysis and Reporting tool.
It radically transforms your entire planning cycle, from forecasting and analysis processes to budgeting and profitability modeling.
Actual data can be loaded to the system periodically and since IBM Planning Analytics (TM1) has a web-based user interface, users (Planning Contributors) can easily log-in and enter their planning data without needing to send and maintain separate Excel spreadsheets. It even has an Excel based user interface making the transition process for Excel users easy. But more importantly all the data is centralized in one source instead of multiple excel sheets.
IBM Planning Analytics (TM1) does offer its own reporting tool making it a complete business analysis tool. In an interview by Christoph Papenfuss, Karsten Oehler, one of the authors of IBM Planning Analytics (TM1) - The Official Guide book, said "Planning Analytics (TM1) is the universal tool for the business person wanting to do all kinds of analytical work like forecasting, planning, simulation, analysis and reporting. Some people call it the 'Swiss Army Knife' for the business. The only thing it can't do (yet) is to cook coffee..."
All in all, data is stored and calculated in one place, consolidations are done automatically, inputs are done directly into the system, and reports are automatically linked to the system.
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