The Total Economic Impact™ of IBM Planning Analytics [Forrester Report]Ben Gittins
A recent Forrester Total Economic Impact™ Study Commissioned By IBM in October 2019, covering ‘The Total Economic Impact™ Of IBM Planning Analytics’.
This report highlights the cost savings and business benefits enabled by leading solution IBM Planning Analytics.
Excerpt from the report…
IBM Planning Analytics, powered by IBM TM1, is a comprehensive planning and analytics solution designed to integrate and streamline an organization’s planning workflows and processes, thereby allowing for more efficient and productive planning cycles. IBM commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study and examine the potential ROI enterprises may realize by deploying IBM Planning Analytics. The purpose of this study is to provide readers with a framework to evaluate the potential financial impact of IBM Planning Analytics on their organizations.
To better understand the benefits, costs, and risks associated with this investment, Forrester interviewed several customers with years of experience using IBM Planning Analytics. Prior to leveraging IBM Planning Analytics, these organizations executed their various planning workflows using manual, spreadsheet-based tools and processes that were siloed, error-prone, and slow to compute. Initially, these tools and processes sufficed; however, as organizations continued to scale and expand their operations, managing across various planning cycles became an increasingly time-consuming and expensive endeavor.
Here a few key findings of quantified benefits. The following risk-adjusted present value (PV) quantified benefits are representative of those experienced by the companies interviewed:
- 63% reduction in labour time needed to complete the annual budgeting cycle
- 80% faster processing of planning data
- 70% fewer labour hours required to complete forecasts…