A quick question that will hopefully save me looking through reams of manuals and web sites.
I'm familiar with the functionality of Hyperion Financial Management where I can collect a number of GLs that use different charts of accounts, map them within HFM into one chart of accounts and then produce financial reporting from the one chart of accounts. From memory (which is getting a little rusty these days) I also had the option of creating journals in HFM to adjust the HFM accounts as necessary and then, when I'm happy, collecting all the journals I've been required to do and roll them back into the original GLs as a final adjustment.
I've moved to a company that has Cognos TM1 and assume that I can do a similar thing, that of doing consolidation into a single chart of accounts by using some TM1 mapping function and also rolling any TM1 journals back into the GLs that feed TM1.
Can anyone confirm and perhaps point me to the appropriate user manual?
Cognos TM1 versus Hyperion HFM
- mce
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Re: Cognos TM1 versus Hyperion HFM
Cognos TM1 is not the tool having built in Financial Consolidation features in it. The corresponding tool (to HFM) in Congos suit is called IBM Cognos Controller, which is the financial consolidation tool.
See http://www-01.ibm.com/software/data/cog ... ontroller/ for more details on Controller.
See http://www-01.ibm.com/software/data/cog ... ontroller/ for more details on Controller.
- Martin Ryan
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Re: Cognos TM1 versus Hyperion HFM
TM1 can also do this with the use of aliases/attributes or mapping cubes. It wouldn't be difficult.
Martin
Martin
Please do not send technical questions via private message or email. Post them in the forum where you'll probably get a faster reply, and everyone can benefit from the answers.
Jodi Ryan Family Lawyer
Jodi Ryan Family Lawyer
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Re: Cognos TM1 versus Hyperion HFM
TM1 can do and does consolidations really well (it remains something not very well understood by IBM that TM1 can do this though!).
However it is a built it yourself scenario, you simply won't find an IBM manual for this as is is not part of the off the shelf software.
Sometimes if the number of ledgers/companies/currencies isn't too great then this is a simple and quick thing to set up with TM1. But for larger more complex consolidations and eliminations it can be a lot of work.
However it is a built it yourself scenario, you simply won't find an IBM manual for this as is is not part of the off the shelf software.
Sometimes if the number of ledgers/companies/currencies isn't too great then this is a simple and quick thing to set up with TM1. But for larger more complex consolidations and eliminations it can be a lot of work.
- Michel Zijlema
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Re: Cognos TM1 versus Hyperion HFM
Hi,
I agree with lotsaram's post. You're comparing an application (Hyperion HFM) with a tool (TM1).
The good thing of an application is that it contains the (regular) functionality 'out-of-the-box'. Downside is that you're more or less limited to the functionality and structures available in the application. It is often impossible to tailor the application to more specific/exotic needs.
The good thing of a tool (like TM1) is that you can implement a tailored solution for your exact needs. Downside is that you have to design and build this yourself, which can be complex and a lot of work. Having an experienced TM1 developer in your TM1, who knows about best practices, will be a big help in this situation.
Michel
I agree with lotsaram's post. You're comparing an application (Hyperion HFM) with a tool (TM1).
The good thing of an application is that it contains the (regular) functionality 'out-of-the-box'. Downside is that you're more or less limited to the functionality and structures available in the application. It is often impossible to tailor the application to more specific/exotic needs.
The good thing of a tool (like TM1) is that you can implement a tailored solution for your exact needs. Downside is that you have to design and build this yourself, which can be complex and a lot of work. Having an experienced TM1 developer in your TM1, who knows about best practices, will be a big help in this situation.
Michel
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Re: Cognos TM1 versus Hyperion HFM
I have built financial consolidation systems using TM1. If you are looking at this, I suggest you look at Quebit's TM1 Journalling module, which I believe is to be relaunched soon. (I don't work for Quebit, but I have implemented it and thought it was pretty good. Mike/Richard, I'll take my pint off you when our paths next cross - perhaps IOD Vegas?)
The key issue to consider with financial consolidation using TM1 is disposals. Since TM1 restates history when charts are changed, it's not ideal for groups which sell companies. (My client said they didn't and of course I believed them )
The key issue to consider with financial consolidation using TM1 is disposals. Since TM1 restates history when charts are changed, it's not ideal for groups which sell companies. (My client said they didn't and of course I believed them )