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IBM Planning Analytics

Score8.4 out of 10

295 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 295 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: 8.3

  • 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: 6.8

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

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

IBM Planning Analytics Review

Incentivized
Mukhtiyar AhmedView profile
Assistant Manager- IT in Information Technology at Eurofins IT Solutions India Pvt. Ltd (10,001+ employees employees)

Use Cases and Deployment Scope

We use IBM Planning Analytics for our budget planning ,budget forecasting real time analysis and reporting of data across organization.

The Pax Excel add in helps us to directly interact with the data in the excel without the need of switching different tools.

We also use the TM1 for resources allocation planning and asset management to align with our IT spending and future forecasts.

Pros

  • Budget planning and budget forecasting
  • Resource planning for a team with Budget allocations and Asset lifecycle management
  • Manual reconciliation efforts are not needed

Cons

  • Requires a lot of time to learn and master it
  • Advance features are a little complex to understand
  • If the data set is very big it takes a lot of time to process it hence the performance is slower
  • Initial upfront cost is high including the license cost
  • When compared with Power BI the IBM analytics lags behind

Return on Investment

  • Positive Impact as we are able to forecast the budget for the entire year with significant time saving
  • All the complex data is can be easily processed and with Excel add in functionality its easier to have all the data in one place which can be used to create Pivot or data visualization.
  • The date protection protocols are well set up

Other Software Used

BeyondTrust Remote Support, BitTitan MigrationWiz

IBM Planning Analytics Tool On Top of the Game and unlimited Potential

Incentivized
Varun KohliView profile
Senior Executive in Information Technology at Vardhman textiles ltd. (10,001+ employees employees)

Use Cases and Deployment Scope

Planning is an integral part of manufacturing business. Planning derives other processes like buying raw material, production acitivities, finishing processes and budgeting. With help of proper planning tool, the activies can be planned and cost involved can be predicted near to accuracy. The tool also helps to analyse the data and represent the information in form of dashboard.

Pros

  • Budgeting
  • Anaylsis
  • Supply chain planning
  • Forecasting

Cons

  • Workflow management
  • Sandboxing
  • Ease of understand and use Modeling

Return on Investment

  • Improved Decision Making
  • Attain operational Efficiency
  • Cost Effective
  • Resource Allocation Streamlined

Alternatives Considered

SAP Analytics Cloud, OneStream and Oracle Fusion Cloud ERP

Other Software Used

SAP HANA Cloud, SAP Sales Cloud, SAP S/4HANA Cloud, SAP Business Warehouse

IBM Planning Analytics (TM1) Continues to Shine

Incentivized
Nikunj Patel
Engineering Manager in Corporate at Amazon (501-1000 employees employees)

Use Cases and Deployment Scope

In our organization, We use IBM Planning Analytics (TM1) for financial consolidation and forecasting at Amazon Devices and Services. Scope covers financial and non-financial metrics, allocations, and modeling.

Pros

  • Hierarchies
  • Metadata
  • Real time calculation

Cons

  • Orchestration
  • Scale

Return on Investment

  • Easy to deploy
  • Security management

Alternatives Considered

Anaplan

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