IBM Cognos TM1 is an on-premise enterprise planning software system designed to assist businesses in planning, budgeting, forecasting, analyzing and scorecarding. The solution is available on both server-based and web-based platforms and is accessible on any connected mobile device.
With Cognos TM1, businesses gain access to multiple features including target setting, scorecarding, forecasting, budgeting, reporting, and analysis. Through the program’s mobile accessibility, remote users and employees distributed in multiple locations are able to engage and collaborate on projects and collectively compile budgets and forecasts. The system helps users analyze large data sets and create profitability models within guided modeling environments.
Cognos TM1 also provides ways for users to monitor performance metrics by integrating scorecards with strategy management capabilities and view the progress that is made toward various objectives.n-premise
Luigi from Sansottera SAS
Employees number: 1 employee
I devellopped twice TM1 and my customers were always happy
IBM Cognos TM 1 is the best solution for budgetting & modelling; it has a strong adherence to each budgetting process due to its flexibility
The price is a little high for those companies having small business; the interface could be improuved
Nabeel from Salient CRGT
Specialty: Government Contractors
Employees number: 1,001-5,000 employees
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.
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.
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.
Jeffrey from American Campus Communities
Specialty: Real Estate
Employees number: 1,001-5,000 employees
The overall product provides a central system and removes the need to purchase many different platforms.
The security setup is complex and difficult to do out of the box. Once setup, it works great with Acitve directory
Amanda from Construction
Specialty: Construction / Contracting
Employees number: 11-50 employees
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!
Michael from Education affiliates
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.
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.
Look for something that will be a little more user friendly. Cognos at the time that we implemented was one of the few products on the market. There are a lot of options out there. Make sure you find the one that fits your environment the best.
David from Model Simply
It is a very power tool if used in the right situation in the right way.
Ability to create complete UI and getting data out of it.
This is really a planning, budgeting, and forecasting tool. Deviating too far away from it will cause problem. Also, make sure you pick the right business partner. Best practices are very important.
Gerson from TECRA TECHNOLOGIES
Predictive insights uncovered automatically with just a few clicks
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.
Must wait some time while files are processed. Also penalize heavily errors. But once is set the results are great.