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Joseph Selects Cognos

Originally published February 14, 2006

Cognos, a provider in business intelligence and corporate performance management (CPM), recently announced that international clothing retailer, Joseph, is investing in a Cognos enterprise planning solution to improve budgeting and planning processes across its business. It is estimated that the company will cut its current budgeting and planning process by at least 25% of the time currently taken.

The solution will be rolled out by Cognos partner Tahola, a retail solutions specialist. It will be used by the finance team to prepare annual, quarterly and monthly reports and rolling forecasts into sales figures, retail trends and profit margins.

Currently, the finance team at Joseph relies on spreadsheet applications to manage its budgeting and planning. The company takes a bottom up approach, from store level upwards, resulting in a very cumbersome and complex process. Any subsequent changes to the data can slow the whole procedure down even further and result in inaccuracies in the final reports.

"By implementing Cognos Planning we'll be able to do away with the complex spreadsheet system that we use at present and prepare budgets and forecasts more quickly and more accurately than before—an absolute must in the fast moving retail sector," explained Kathleen Starkey, Finance Director at Joseph.

"Joseph was struggling with the same problems that many retailers face, namely the inflexibility of spreadsheets as enterprise planning and forecasting tools. Cognos Planning will resolve all of those issues while providing the capabilities to easily test many different 'what-if' scenarios. We look forward to working with the team at Joseph," said Geoff McClure, Managing Director at Tahola.

This BeyeNETWORK news item contains information from a recent press release by the company mentioned.