Cognos, a business intelligence and corporate performance management (CPM) vendor, has unveiled the Cognos Performance Management System - a system that combines performance solutions, extensive platform capabilities and best practices. The System will facilitate performance management across the entire enterprise, enabling organisations worldwide to use information as a strategic and competitive asset and ensure a sustainable competitive advantage.
According to Gartner, the CPM market is projected to grow over 13 percent in 2005, reaching approximately $650 million in new license revenue. Gartner projects this market will reach over $900 million by 2009, with a compound annual growth rate of 9.9 percent.
Says David McWilliam, Cognos SA managing director: "The solution combines strategy management, planning, measuring and monitoring execution in a single system, meeting the demands of global organisations for performance management solutions that span industry and business."
The Cognos Performance Management System consists of the following:
1. Performance Management Solutions: Cognos provides performance management solutions which exploit the capabilities of the Cognos platform. These solutions fall into two categories:
* Enterprise Performance:
* Strategy and Goals Management
* Process-based: Includes new Plan-to-Perform Blueprints for Risk Analysis, Allocations and Sales Compensation
* Enterprise Performance Applications that span Finance, Operations, Customer and Workforce areas
* Line-of-business: Includes solutions provided by the charter members of the "Powered by Cognos Program"
* Industry Solutions: Solutions across the Pharmaceutical, Financial Services, Manufacturing, Hospitality, Retail, Defense, Healthcare, Education, Higher Education and Public Sector markets.
2. Integrated Platform for Performance Management: The Platform contains all of the capabilities organisations and partners need to build performance management solutions, including scorecarding and dashboarding, planning, analysis, query and reporting, and event management. The next major enhancement of the platform, Cognos 8 BI, will be introduced to Cognos customers over the next few weeks.
3. Best Practices: Customer and Partner solutions are created by leveraging the Cognos platform in conjunction with industry best practices. As a catalyst to this process, the Cognos Innovation Centre was founded in June 2004 as a forum for the gathering, development and sharing of Cognos best practices. Its initial focus was on sharing best practices in planning among industry thought leaders and customers, and to develop solutions, dubbed the Plan-to- Perform Blueprints, that capture these best practices and help accelerate a customer`s time to value. The mandate of the Innovation Centre is now being extended to meet the increasing needs of organisations developing holistic performance management solutions. The Innovation Centre will now also include sharing of best practices for the reporting, analysis, dashboarding and scorecarding that surround the planning process - enabling organisations to track how they are doing against the plan, and to report and analyse the plan. The Innovation Centre will continue to be a centre of excellence as it helps company`s mobilise to drive Performance Management.
4. Platform Services: The Performance Platform enables fundamental business questions to be answered with the same, common view - something that is very difficult and costly to achieve with the patch of manual methods, software tools and Excel that most organisations currently use. Supporting the Platform capabilities are common, open services that include portal, security, administration, information and business modelling, and data integration.
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