IBM premier business analytics partner, Cortell Australia, has landed a deal to improve the financial reporting and forecasting system for the Australian Museum.
Cortell has replaced the Museum’s manual spreadsheet-based reporting and budgeting process with IBM Cognos TM1 technology that provides a platform for reporting, planning and analytics.
The new system will enable the museum to analyse information in real time, speeding up its delivery and accuracy of budget and forecast analysis across the organisation.
“These enhancements will free up time spent on spreadsheets to be better used in undertaking analysis and support the business,” Australian Museum CFO, Paul Ryan, said.
The IBM technology also addresses the limitations of current reporting, supports the removal of manual processes (exporting and manipulating data) and allows the Museum to slice and dice the data across defined dimensions, drill down through relevant hierarchies and provide a graphical analysis of the results.
In addition, the technology will allow the Museum to have greater visibility of the financial impact of its operations, ranging from retail sales peaks to which exhibitions attract the most visitors. Museum employees and management now have access to a single view of data that provides a snapshot of finance and resourcing information across the organisation, which can be accessed on the go via a mobile device.
“We continue to see organisations using insights from financial and operations data to support the day-to-day tactical business decisions being made, providing the basis for strategic organisational growth,” Cortell Australia director, Nick Potts, said.
“The Australian Museum is in a unique position to uncover analytics-based insight to make the right decisions to produce the best outcomes for visitors and stakeholders.”