Published on 11-Mar-2013
"IBM Cognos TM1 software has helped us enhance budgeting processes, freeing employees to focus on more productive work. It brings transparency to planning and reporting, allowing us to concentrate on using the numbers rather than worrying about whether they are accurate." - Mikko Laine, Group Business Controller, Terveystalo
BA - Business Analytics, Business Integration, Business Performance Transformation, Enabling Business Flexibility, Information Integration, BA - Risk Analytics, BA - Performance Management
IBM Business Partner:
Terveystalo is the largest healthcare provider in Finland, serving private individuals, companies and organisations such as insurance providers and the public sector in more than 60 towns across the country. Employing approximately 6,500 healthcare professionals nationwide, the company has nearly 3,200 general practitioners and specialists and 3,300 other employees working on its premises. Terveystalo offers a range of general, specialised and occupational healthcare, medical and examination services.
Terveystalo had outgrown its existing budgeting tool. The company wanted greater control and flexibility for budgeting to enable greater business agility.
Working with IBM Premier Business Partner Verago Oy, Terveystalo implemented IBM® Cognos® TM1® software within a tight timeframe to support budgeting for sales and personnel planning.
Shortens the budgeting cycle by 50 percent.
Enables more agile response to changes in demand. Boosts productivity by instantly refreshing budget data across systems. Increases ease-of-use.
To read a Finnish version of this case study, click here.
Terveystalo is the largest healthcare provider in Finland, serving private individuals, companies and organisations such as insurance providers and the public sector in more than 60 towns across the country. Employing approximately 6,500 healthcare professionals nationwide, the company has nearly 3,200 general practitioners and specialists and 3,300 other employees working on its premises. Terveystalo offers a range of general, specialised and occupational healthcare, medical and examination services. Owned by the private equity company Bridgepoint, Terveystalo achieves annual revenues of over €450 million.
Seeking greater control
The expansion of its business caused Terveystalo to discover that its existing budgeting tool did not offer the functionality and flexibility the company needed to support further growth. Much of the company’s important financial and operational information was stored in spreadsheets, which meant that employees needed to spend time and effort integrating data manually. This was affecting productivity and reducing the company’s ability to respond quickly to changing situations.
Mikko Laine, Group Business Controller at Terveystalo, explains: “Previously, we relied on a legacy business planning solution for budgeting. As the company grew, our business users began requesting new functionalities that the existing tool simply could not support. We knew the time had come to find a new solution for budgeting and forecasting.”
Selecting IBM Cognos and Verago
Following a review of offerings on the market, Terveystalo narrowed down 20 options to just five, before engaging IBM Premier Business Partner Verago Oy to implement IBM Cognos TM1. Mikko Laine describes the selection process: “We scored the shortlist of five products on a range of factors, including functionality, ease of implementation and the quality of the partner. Together, IBM Cognos TM1 and Verago delivered the best overall rating.”
As a specialist in working with IBM Cognos technologies, Verago was able to deliver on a fast implementation, enabling Terveystalo to begin using the solution sooner rather than later.
“We were able to move very quickly with help from Verago – we got IBM Cognos TM1 up and running in less than four months,” says Mikko Laine. “We are very happy with the co-operation with Verago, who have built the solution based on our specifications on time and within budget. Our partnership continues as we develop the tool to closely align with our needs.”
Terveystalo’s employees now rely on IBM Cognos TM1 software to put together budgets that support sales and personnel planning. Utilising the solution for monthly rolling forecasts means that the company can update its budget to reflect fluctuations in the market.
“Using Cognos TM1, our employees can create more accurate weekly and monthly forecasts,” comments Mikko Laine. “As a result, we have a deeper insight into the level of sales and the areas of the business where more or fewer resources are needed. Because we now have the ability to generate rolling forecasts, we can react more quickly and effectively to the latest changes in the market.”
Real-time analysis and adjustments
The project has consolidated all budgeting data into a single system, eliminating the need for spreadsheets and enabling more sophisticated reporting. Data can be analysed and adjusted in real time, with changes to budgets instantly propagated across all systems.
“The old system only supported simple reporting, based on a few dimensions,” says Mikko Laine. “IBM Cognos TM1 software gives us a centralised tool that lets us look more deeply into our business. We can see the effect of any budget changes instantly.”
By deploying IBM Cognos TM1, Terveystalo has been able to accelerate a number of key enterprise planning processes, including the development of next year’s budget. Mikko Laine states: “Using Cognos TM1 software, we put together the budget for 2013 in just over a month – 50 percent faster than ever before. This was a real ‘wow’ moment for us, as it gave us direct evidence of how the IBM solution is significantly enhancing our operations.”
Terveystalo required no external training for use of IBM Cognos TM1; some basic user training was handled internally by the Terveystalo controlling team.
“IBM Cognos TM1 is a user-friendly tool that offers the functionality we were looking for,” comments Mikko Laine. “We believe it is best learned just by using it, but we also offered some basic training for unit directors and managers.”
By boosting the efficiency of the budgeting process, IBM Cognos TM1 helps Terveystalo’s employees work more effectively. The company’s confidence in the accuracy of its budgeting data has increased due to the standardised, centralised approach.
Mikko Laine concludes: “IBM Cognos TM1 software has helped us enhance budgeting processes, freeing employees to focus on more productive work. It brings transparency to planning and reporting, allowing us to concentrate on using the numbers rather than worrying about whether they are accurate.”
About Verago Oy
Verago Oy is a consulting and systems integration company that serves mid-sized to large enterprises across a range of industries and helps them to achieve optimal performance by ensuring they have access to accurate information and agile performance management tools. Verago is an IBM Premier Business Partner, and all Verago’s consultants are certified in IBM Cognos software. The company takes a user-centric approach when developing and deploying solutions, focusing on understanding the end user’s challenges to encourage maximum uptake and utilisation.
To learn more about products, services and solutions from Verago Oy, please visit www.verago.fi
About IBM Business Analytics
IBM Business Analytics software delivers data-driven insights that help organisations work smarter and outperform their peers. This comprehensive portfolio includes solutions for business intelligence, predictive analytics and decision management, performance management, and risk management.
Business Analytics solutions enable companies to identify and visualise trends and patterns in areas, such as customer analytics, that can have a profound effect on business performance. They can compare scenarios, anticipate potential threats and opportunities, better plan, budget and forecast resources, balance risks against expected returns and work to meet regulatory requirements. By making analytics widely available, organisations can align tactical and strategic decision-making to achieve business goals.
For more information
For further information please visit ibm.com/business-analytics
Products and services used
IBM products and services that were used in this case study.
© Copyright IBM Corporation 2013. Oy International Business Machines Ab, PL 265 00101 Helsinki, Finland. Produced in Finland. March 2013. IBM, the IBM logo, ibm.com, Cognos and TM1 are trademarks of International Business Machines Corp., registered in many jurisdictions worldwide. Other product and service names might be trademarks of IBM or other companies. A current list of IBM trademarks is available on the web at: www.ibm.com/legal/copytrade.shtml. IBM and Verago Oy are separate companies and each is responsible for its own products. Neither IBM nor Verago Oy makes any warranties, express or implied, concerning the other’s products. This document is current as of the initial date of publication and may be changed by IBM at any time. Not all offerings are available in every country in which IBM operates. The client examples cited are presented for illustrative purposes only. Actual performance results may vary depending on specific configurations and operating conditions. THE INFORMATION IN THIS DOCUMENT IS PROVIDED “AS IS” WITHOUT ANY WARRANTY, EXPRESS OR IMPLIED, INCLUDING WITHOUT ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND ANY WARRANTY OR CONDITION OF NON-INFRINGEMENT. IBM products are warranted according to the terms and conditions of the agreements under which they are provided.