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IBM Planning Analytics

Score8.4 out of 10

294 Reviews and Ratings

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What is IBM Planning Analytics?

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 sophisticated, multidimensional models that drive forecasts.

Categories & Use Cases

Media

Workflow management
Income statement
Margin analysis
Metrics management
Income statement
Expense analysis

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Key Features

Learn about the best (and worst!) features IBM Planning Analytics has to offer, as determined by TrustRadius' reviewers.
Based on 294 ratings of IBM Planning Analytics's features
View all features

Top Performing Features

  • Excel-based Reporting

    Ad hoc or formatted reports using MS Excel.

    Category average: 8.2

  • Forecasting

    Combining actuals and budgets, rolling forecasts, driver-based models.

    Category average: 8.6

  • Financial data consolidation

    Consolidating data from several entities into a single statement using US GAAP, IFRS or other standards.

    Category average: 8.2

Areas for Improvement

  • XBRL support for regulatory filing

    Support for the XBRL standard reporting format for exchanging financial data.

    Category average: 6.9

  • Mobile Application

    A dedicated app for iOS and/or Android.

    Category average: 6.8

  • Dashboard / Report / Visualization Interactivity on Mobile

    In-app dashboard reports and data visualization.

    Category average: 6.7

Reviews

What users are saying about IBM Planning Analytics.
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A software that helped us in understanding our finances better

Incentivized
Rakesh Rana
Design Executive Head in Professional Services at Dorto Design Studio (201-500 employees employees)

Use Cases and Deployment Scope

IBM Planning Analytics is completely a AI based tool for our business which works like an advance Excel software mainly focuses on business plannings and future forecasting. This software also help us in doing budget planning for future investments. IBM Planning Analytics takes lot of data inputs from different departments of our business and help them in taking will inform decisions.

Pros

  • The software helps us in creating quick budgets for different projects in our organisation
  • Financial data and sales data is easily managed through this software and it also shows the detailed numbers of these data
  • As the interface of this software is like MS Excel so learning the initial and basics of this tool becomes much easier

Cons

  • The software is little expensive it not be the best option for small businesses and startups
  • The iOS version of this tool is not available at all you can just use it from web browsers not as an iOS application

Return on Investment

  • Communicating with different branches and franchise helps us in predicting a better future projection for our business and allocate precise funds
  • Financial planning and management is a very lengthy process but after installing this software we are able to save more than 50 to 60% of time for doing the same thing

Other Software Used

Fortinet on IBM Cloud

Best Analytics tool

Verified User
Engineer in Engineering (1001-5000 employees employees)

Use Cases and Deployment Scope

we use IBM Planning Analytics to connect our ERP data with our web interface. this helps us to eliminate manual data ingestion and provides real time data which acts as source of truth for our systems.

it provides clear visibility of data that helps us to drive cost and unknown charges.

Pros

  • sales & operation demand planning
  • cash flow calculation

Cons

  • steep learning curve
  • Improve interfaces in a single rather than fragments

Return on Investment

  • saves time from manual data processing

Great product.

Incentivized
Verified User
Manager in Information Technology (5001-10,000 employees employees)

Use Cases and Deployment Scope

In our organization, we use IBM Planning Analytics to Set up numerous models with focus on FP&A and working with the AI Assistant.

Pros

  • Data management
  • Data Governance
  • Data security

Cons

  • Reporting
  • Can make it easier for a novice user.

Return on Investment

  • A positive impact of using IBM Planning Analytics in our organization is better time to close forecast and budgets

Alternatives Considered

IBM watsonx.ai and IBM Cognos Analytics

Other Software Used

Tableau Cloud

IBM Planning Analytics Review.

Patrick Cooper
BI Consultant at DataHub (5001-10,000 employees employees)

Use Cases and Deployment Scope

I am an IT consultant and have been working with Planning Analytics/ TM1 for 15 years. It is probably the most robust planning and forecasting solution in the market.

Pros

  • Budgeting
  • Forecasting
  • "What If Scenario".

Cons

  • Not Sure, Maybe Industry use cases.

Return on Investment

  • It is very positive. It helps open up new clients.
  • It provides insights to data that most cannot.
  • IBM's new interface is a huge time saver.

Alternatives Considered

Microsoft Excel and Oracle Hyperion

Other Software Used

IBM Cognos Analytics

IBM Planning Analytics Review

Incentivized
Swati SapnaView profile
Design Engineer at Dorto Design Studio (201-500 employees employees)

Use Cases and Deployment Scope

We use IBM Planning Analytics for creating clear budget for our organisation so that we can reach our future goals without much casualities. The software also help us in doing financial forecasts for our business and also it gives a platform to collaborate with different departments by taking their inputs in our upcoming projects so that best utilisation of resources can happen.

Pros

  • The platform help us and doing proactive plannings and forecasting for our business according to the current market dynamics
  • The software provides us consolidation of financial data from different sources to our finance team
  • The software also help us in doing the sales planning and understand the operational challenge that our team face on a daily basis

Cons

  • The main challenge with IBM Planning Analytics is its installation which takes multiple complex configuration challenge and training
  • Sometimes the software shows performance lagging issue whenever a large and variety of data inputs are given
  • Also I have faced from challenges during software integration with Microsoft and Google sheets which was very important for us

Return on Investment

  • The software has helped our finance team in minimising the manual data entry by more than 80% and focus more on holistic data analysis and business strategies
  • The overall time in doing annual budget in was around 90 days before but now we are able to do it only in 45 days
  • The software help us in understanding real time marketing dynamics and take decisions accordingly

Alternatives Considered

TeamViewer and Accompany

Other Software Used

TeamViewer, Canva

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