Within the IBM Cognos Competence Center, element61 has senior expertise in both IBM Cognos Controller and the underlying functional processes for financial reporting and consolidation. Furthermore, as Cognos Controller integrates with Cognos BI and Cognos BI, element61 offers the combined IBM Cognos platform skills to come to a integrated end-to-end CPM solution.
Cognos Controller is the successor of the successful European Frango Consolidator product. Cognos acquired Frango back in 2004 and continued the Controller development ever since, now as part of IBM. Cognos Controller is the most broadly used consolidation solution in the Belgian market place, based on number of installations in the mid and higher market segments.
IBM Cognos Controller focuses on resolving the challenges in the close, consolidate, and report process by enabling organizations to automate and streamline financial consolidation and corporate reporting.
The solution typically allows to :
- reduce the duration of time to close by eliminating a lot of manual steps
- reduce the resources involved and manhours required during the close process
- eliminate data and calculation errors by introduction of checks and business rules
- ensure accurate collection of financial results through a web-based interface
- automate financial consolidation and elimination procedures
- provides auditable financial results and associated workflow
- produce state-of-the-art financial statements
- deliver integrated financial reporting and analysis
IBM Cognos Controller is unique in the market as a financial consolidation solution that is really built for the finance user, who maintains the solution independent from ICT. The complete application approach enables finance users to define and maintain all financial consolidation dimensions, rules and processes. The solution provides end-to-end process control and audit for the consolidation process including data input and reconciliation.
IBM Cognos Controller delivers a complete range of default settings for global and local consolidation and reporting requirements integrated into an application framework. Local jurisdictions can meet their reporting requirements as well as global mandates such as US Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). Additionally, IBM Cognos Controller is part of an enterprise performance management platform that contains all the building blocks and solutions to deliver reporting and analysis, score-carding, planning and budgeting, financial consolidation, and reporting requirements.
Contact us to learn more about IBM Cognos Controller and how we can help you succeed in implementing this state-of-the-art consolidation solution.