IBM Cognos® Controller sets a new standard for financial consolidation software with a comprehensive suite of capabilities for financial consolidation and management and financial reporting. Operated and managed by the office of finance, Cognos Controller ensures the accurate collection and reconciliation of financial results. It delivers the timely, accurate information that finance organizations need for regulatory compliance, planning, analysis and performance management.
Finance manages the consolidation process
- Audit and track data flow throughout the consolidation process. Drill down into details to identify who did what and when.
- Customize the process to handle specific consolidation requirements with user-defined business rules (UDBR). Maintain a configurable foundation for finance users, while allowing special consolidations to be constructed on a case-by-case basis.
- Ensure data consistency with a validation process that reconciles data for accuracy and immediately notifies you of inconsistencies.
- Accommodate mergers, acquisitions or reorganizations by updating structures or business rules once, and see the changes reflected throughout the application—automatically.
- Amend entities, structures and account details without coding, scripting, or complex language to create and test.
Built-in best practices
- Automate allocations between companies, accounts, and business dimensions.
- Calculate weekly actualities with Cognos Controller Financial Analytic Publisher.
- Speed the reconciliation of intercompany balances with reports available for both groups and companies.
- View automatic journals at the subgroup level and drill down through Trial Balance by automatic journal type and original company.
- View company contributions from the lowest level to the top group with automatic journals.
- Integrate financial consolidation into an enterprise performance management system that includes reporting and analysis, scorecarding, planning and budgeting.
Prepare local or global financial consolidation
- Consolidate multiple views of the enterprise from legal, management, and tax perspectives, or in terms of budgets, actuals, plans and forecasts.
- Provide critical data for regulatory compliance, including IFRS, multi-jurisdictional GAAP reporting and Sarbanes-Oxley.
- Perform advanced formula calculations using YTD values, averages and multiple periods, combining financial and non-financial metrics.
- Present certified financial results in multiple reporting and transaction currencies.
- Make investment adjustments for complex ownership situations, such as region-specific consolidation and reporting for Brazil, Denmark and the Netherlands.
Financial reporting and analysis from a broader perspective
- Allocate transactions, e.g. indirect minorities or acquisition calculations to analyze an individual company's contribution at the top level.
- Model alternative business scenarios and assess their impact by entity, business area, product or customer with detailed “what-if” analysis.
- Use standard reports, measurements and metrics to deliver operational, management and financial information for scorecarding, dashboards and ad hoc analysis.
- Meet the needs of managers and regulators with more than 200 pre-configured, standard reports.
Integrate easily with current and future IT environments
- Support Microsoft® Excel® 2010 and Microsoft® SQL Server 2008 R2 software environments.
- Integrate seamlessly with IBM Cognos TM1 as a data warehouse for high- performance, OLAP-style analysis and reporting.
- Complete the filing process by automating the creation of reports, including annual and quarterly reports (10-K, 10-Q), XBRL filings, board books and more with IBM Cognos Financial Statement Reporting (FSR) software.
- Perform data entry, modeling and calculations with an embedded Microsoft Excel interface.
- Ensure current and future support for your investment with a centralized, open-standards database and the enterprise-class architecture of IBM Cognos Business Intelligence.
