It’s time to shift our focus towards the additional benefits gained through using IBM® Planning Analytics.
This dynamic system has removed most of the manual tasks historically undertaken by the finance department. Entering source data into the system, maintaining structure and reporting are now all automated processes, reducing the chance of errors and leaving time for more valuable analysis.
Multiple data sources are brought together within a centralised application, allowing for more transparent, shared access to information – the silo mentality is written out of businesses as a result and we move one step closer to a shared, single version of the truth.
Having all of the data in one place allows for accurate insights; for example, pipeline can be monitored and examined from the CRM data fed into IBM® Planning Analytics. The system can be used to target specific KPIs and inbuilt performance measurement and metrics provide invaluable insight to drive future improvements across the business.
Company strategy is built in to the planning system. This can be amended almost instantaneously, allowing for the creation of multiple what-if scenarios. The use of value drivers with probability analysis enhances the overall planning process – there are a wealth of factors available for change and analysis.
Organisations have access to a huge amount of data in one place and the ability to drill right down to the data source tables; the model can be analysed end-to-end at a granular level. This level of insight is invaluable for decision making and the understanding derived can provide a route map for the continued growth essential to success.
Information from IBM® Planning Analytics can be automatically shared with stakeholders, having a significant impact on end-to-end timescales. Using metrics with triggers and alerts to automatically inform those responsible for the relevant areas of the company can raise awareness across the organisation of the state of the business.
The functionality provided by Workspace provides a detailed picture which would be impossible to achieve with spreadsheets; compelling visualisations are simple to create to share insights with decision makers within the business. Scorecards and dashboards are linked to plans and budgets, making analytics available to everyone as a single version of the truth and providing organisational insight, leading to improved quality of decisions for businesses.
Interested in finding out more about how moving to IBM® Planning Analytics could help your organisation? Get in touch today.
Simon Bradshaw
I have worked in finance and business systems development since 2001 and am an associate member of the Chartered Institute of Management Accountants. In 2016 I became a founding member of Spitfire Analytics, a consultancy specialising in IBM Planning Analytics. We are committed to building long-term relationships across all industries. I focus on my CPD through CIMA and IBM badges, ensuring I am always abreast of best practice and developments within the industry.
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