IBM Planning Analytics, powered by IBM TM1®, is an integrated planning solution designed to promote collaboration across the organization and help keep pace with the speed of modern business. With its calculation engine, this enterprise performance management solution is designed to help users move beyond the limits of spreadsheets, automating the planning process to drive faster, more accurate results. Use it to unify data sources into one single repository, enabling users to build…
$825
per month 5 users
Synoptix
Score 7.5 out of 10
Mid-Size Companies (51-1,000 employees)
Synoptic provides ERP financial reporting tools and analysis. This solution is designed to deliver real-time data. The vendor’s value proposition is that their solution empowers users to create financial and operational reports with spreadsheet ease of use.
Very powerful modeling capabilities. It has a really good OLAP engine memory. Strong scenario planning for what if analysis. Flexibility of integration with ERPs or WM systems for both cloud and on premises. Centralized planning and alignment of governance is also a plus. Having one single system for many different functions.
Synoptix has been great for us to allow end users access to the data and information they need to make informed decisions without letting them have full access to all ERP functions. It has also been very easy to create custom reports that meet our needs. It is also nimble enough to create quick reports that are needed with a small turnaround
Since IBM Cognos Express is suitable only for medium data warehouse environment, we are not sure if this tool solves the long term need as the business keeps growing rapidly. So its a 50/50 ratio to renew Express license. But having said that, the components of IBM Cognos Express are also available in other Cognos BI suites like Cognos 10.x version. So we will probably upgrade our environment to IBM Cognos 10.x which comes with more new features.
IBM Planning Analytics is generally good in terms of functionalities. It can be used reduce time for budget planning, resource planning, demand forecasting, etc. The performance of IBM Planning Analytics is acceptable, but user interface can be improved. It would be good to see new features that allow users to customise the dashboard.
It didn't take long to learn how it works and has always been easy to navigate and accomplish all that we have needed. Whenever there have been any issues Synopotix has been great to address them in a timely manner and have always been able to resolve the issues we have had
IBM support has been very quick to respond and handle the very few issues we've had. We've had a third-party who partners with IBM to be our consulting team which has helped greatly reduce the need for us to contact IBM directly. I highly recommend researching and selecting a well-respected partner to help with an implementation as well as ongoing support as needed.
As it is related to MS Excel, IBM Planning Analytics is a much more robust and complete solution for the CFO or COO in mind. Oracle Hyperion stacks up nicely against IBM Planning Analytics. However, IBM's investment in AI allows Planning Analytics users more options and speed.
Synoptix is more oriented to users as their own developers. You do not need to understand any sort of coding or languages. If you are working in financials you just need to know your trial balance. The menus and programing are so user friendly the programming is "kinda obvious"
As a reporting tool it has allowed us to make fact based decisions. We have a significant annual cost with relation to our legacy system and Synoptix provides us with the best tool to mine the data that resides in our legacy system.
