IBM Cognos TM1 Software

Awesome tool to manage budget and planning

Pros

Its multi task software, so no need to buy different software to manage your organisation planning, reports are exporting to excel so easily modify it as you wish

Cons

Bit difficult to setup, no more articles over the internet, you need to ask some techies for one time setup. Later anyone can handle it

Trustworthy as TM1

Predictive insights uncovered automatically with just a few clicks

Pros

It's powered by TM1 another great solution of IBM. Eliminate manual tasks derived from the constant and tedious use of spreadsheets. It provides dynamic planning and analytics workspace to model real-time scenarios. Once I export it to Excel as a formula driven file, all I have to do is edit the cell that it is pulling from and the result will vary depending of the desired result.

Cons

Must wait some time while files are processed. Also penalize heavily errors. But once is set the results are great.

The best budgetting sw ever seen

I devellopped twice TM1 and my customers were always happy

Pros

IBM Cognos TM 1 is the best solution for budgetting & modelling; it has a strong adherence to each budgetting process due to its flexibility

Cons

The price is a little high for those companies having small business; the interface could be improuved

TM1 Review

TM1 is a great tool to have as long as the organization's system interfacing are setup to work reliably and the databases are designed to interface with each other. If these conditions are not ideal, then TM1 will not add as much value to the organization as it is designed to.

Pros

The biggest advantage of using IBM Cognos TM1 is the ability to fully incorporate budgets and planning into the accounting system and the ability to use Cognos and Costpoint and other softwares to expand, analyze and extrapolate these budgets, planning and forecasts.

Cons

TM1 heavily relies on data feed from other systems whether it be Cognos, CostPoint or T&E and any small issue during the data interface can skew the analysis and often result in errors and misleading financial analysis.

BI Product

Pros

The overall product provides a central system and removes the need to purchase many different platforms.

Cons

The security setup is complex and difficult to do out of the box. Once setup, it works great with Acitve directory

Best Customer Service

IBM has the absolute best customer service. Each time we had an issue there was someone from their IT Support to help right away. We spoke with a guy named Steve once that fixed us up perfectly. Thank you IBM and thank you Steve!

IBM Cognos TM-1

Pros

This product allows our Finance team to forecast. Being able to tie the data to our data warehouse allows our users to slice and dice the data they way that they need.

Cons

This product is hard to maintain at times. Being a place that doesn't have trained individuals on how to use this, we have to turn to outside vendors to help us out quite a bit. Doesn't seem to intuitive and is hard to finds information on the internet.

I've been a TM1 consultant and administrator for the past 5 years.

Pros

It is a very power tool if used in the right situation in the right way.

Cons

Ability to create complete UI and getting data out of it.