Web-based planning and budgeting in DSK Bank with IBM Cognos TM1
A pilot implementation of IBM Cognos TM1 was delivered by Scale Focus AD to DSK Bank. The solution could facilitate the centralization and automation of the budgeting and planning processes within the bank. The aim of the web-based IBM platform is to help on making motivated decisions about the business development and growth. For example, different versions of the KPIs and financial results of a given bank branch can be created, according to the number of employees servicing branch’s clients. (Figure 1: Sample plan of a fictive bank branch on the results’ dependence of the number of employees). It is possible, at a later stage, to compare the real results, attained by the branch with the forecasted such and make more accurate planning for future periods.
The pilot implementation (Proof of concept) has been accomplished successfully by ScaleFocus’ business analysts and technical consultants, working closely with bank’s IT and business users. Detailed analysis was carried out for two months: over the processes of planning and budgeting and their target templates; over the sources, semantics, and specific business logic and data quality; over the requirements for information security and access rights of the users. DSK Bank’s employees from the Planning department tested the solution in a close to a real situation (hands-on-session) – with different user levels in the planning hierarchy, with approval/rejection of plans, with detailed changes’ tracking and automatic notifications and control of data access and templates, according to employees’ responsibilities.
There were implemented processes such as: planning based on data from past periods, betting on different volumes and/or interest rates and their change; correction of data from different users and their automatic reflection in the overall statement of the bank; work with different plan versions and what-if analysis, and more.
Currently, the bank is using traditional process of planning through electronic tables and data from the corporate repository. DSK Bank plans incomes and outcomes with complex logic with breakdowns to departments, branches, products, interests and other.
IBM Cognos TM1 is aligned with the best practices in leading banks, thus, gives the possibility to validate forecasted plans and budgets against the corporate goals, reflecting the dynamic of the banking sector and under clear communication and control.
ScaleFocus AD is a leading Bulgarian software company, holding a number of national and international awards, with offices in three European cities. ScaleFocus has successfully delivered over 70 projects to customers in 14 countries, across Europe, North America and Asia. At the beginning of 2015 the company has built a team of over 200 specialists and continues the dynamic growth. ScaleFocus’ main clients are from the financial, telecom and IT sectors. ScaleFocus is a Premier Business Partner of IBM Bulgaria and offers solutions from the world leader’s portfolio.
Figure 1: Sample plan of a fictive bank branch on the results’ dependence of the number of employees