In this blog post from IBM Product Marketing Manager Lindsay Hampson, you will read about 3 different customer success stories: Eniro, AGAPLESION and Walter Meier AG. Lindsay delves into these successes to expose the measurable benefits Cognos Controller has delivered for these particular customers and similarly mirrors how other businesses have benefited form Cognos Controller across the globe.
Read Lindsay's post:
I’ve spent some time over the last few weeks blogging about the problems with a manual close process, and the new features in IBM’s release of Cognos Controller 10.2.
But, enough from me. What do our customers say about IBM’s ability to solve their close hurdles?
Let’s spend the last blog of this series highlighting a few customers and their successes.
#1: Customer: Eniro
Eniro, an Internet Search Company in Sweden, saved a bunch of time and money recently. They decreased the amount of time needed to perform group consolidations by 80 percent and reduced dependency on external consultants by 75 percent when they implemented Cognos Controller software to replace their Hyperion Enterprise software.
What was their need? When they set out on their journey pre-IBM, they wanted to:
reduce the cost and complexity of their group financial consolidation process,
simplify the onboarding of new acquisitions to facilitate compliance with intensifying regulatory demands,
accommodate over 20 operational companies spread over five countries (and a considerable number of holding companies on top of that) and
eliminate costly consultants which they turned to when their former solution, on Hyperion Enterprise software, was not cutting it.
Eniro considered solutions from four different vendors. But, ultimately they selected IBM Cognos Controller because:
their organization was already using IBM Cognos TM1 as a budgetary tool in the accounting department and they liked the fact Cognos Controller was part of a suite of interconnected products, and
the whole process was projected in a timely manner and within their budget.
So, yes - Cognos Controller software enabled Eniro to reduce the cost and complexity of group consolidation. Using IBM’s dimensional modeling capabilities, the company gained the insights they needed to satisfy regulators and their own internal reporting requirements without creating multiple new accounts – resulting in a large boost in performance.
“In the past, it took a lot of time and effort to run a consolidation exercise,” says Robert Luks. “Thanks to IBM Cognos Controller [software], it now takes us just three minutes to run a group consolidation – an improvement of 80 percent. Once underway, the process cannot be interrupted by users who are still reporting or adjusting reported numbers.”
Robert Luks, Eniro
Eniro lived happily ever after, gaining the ability to:
reduce the need for external consultants by 75 percent,
decrease the time required to complete a group consolidation by 80 percent by reducing the complexity involved,
reduce operating costs and
improve system performance.
Read more from this customer here.
The next two customers had similar hurdles and found similar relief in their close process. Read on.
#2: Customer: AGAPLESION
Based in Frankfurt-on-Main, Germany, AGAPLESION, a healthcare group managed more than 100 institutions nationwide, including 29 hospitals with over 6,400 beds, 31 residential care facilities with more than 3,000 inpatients and an additional 800 assisted living apartments, three hospices, 16 medical care centers, seven mobile care units and an academy.
AGAPLESION gAG wanted to consolidate its health subsidiaries, which number more than 100, as well as unify and optimize their corporate planning and control. IBM enabled them to merge all business units, and provided them with a centralized, web-based planning, reporting and analysis solution.
“With the complete suite of IBM Cognos solutions, we certainly have one of the best reporting platforms in the entire healthcare industry.”
Sebastian Polag, Head of Commercial Controlling, AGAPLESION
Read more on this client here.
#3: Customer: Walter Meier
Walter Meier AG, a worldwide leader in the manufacture of commercial and industrial humidifiers and production technology, was already using Cognos Controller when it decided to to deploy Cognos Disclosure Management to further automate the entire close, consolidate, report and file process.
Today Walter Meier generates financial reports without external support, eliminating expensive agency fees and improving accuracy.
IBM’s solutions integrates the entire external financial reporting process – including layout design – into a single easy-to-use solution. Provides a familiar Microsoft Office environment for users to work in, while ensuring reliable and error-free results. Delivers a fast, flexible and cost-effective reporting process, and eliminates the need to hire external graphics agencies.
“With IBM Cognos Disclosure Management, error-prone manual transferring of data and the need to co-ordinate with external agencies are now a thing of the past. As a result, we expect the investment to pay for itself within approximately three years.”
Cornelius Kohler, Head of Accounting, Reporting and Taxes, Walter Meier AG
Read more from this customer here.
Again, thank you for joining me on this blog series on IBM’s solution for close consolidate and report. As always, we are happy to help facilitate and guide a similar close transformation for your organization – just ask!