Written by Heather L. Cole, September 12th, 2024
So, your company just got a new CFO, and suddenly, everyone’s questioning the cost of advanced solutions like IBM Planning Analytics. “Why not just stick with Excel?” they ask. Well, let’s dive into this debate with some wit and fun, shall we?
The Excel Temptation
Excel is like that old, comfy sweater you’ve had for years. It’s familiar, it’s cozy, and it’s cheap. But let’s be real – it’s also outdated, prone to errors, and not exactly the epitome of efficiency. Sure, it gets the job done, but at what cost? Time, accuracy, and scalability, to name a few.
The IBM Planning Analytics Powerhouse
Now, let’s talk about IBM Planning Analytics. It’s like upgrading from that old sweater to a sleek, high-tech jacket that not only keeps you warm but also has built-in GPS, a phone charger, and can probably make you a cup of coffee. Here’s why you shouldn’t throw it out:
- Flexibility and Scalability: Whether you’re a lone wolf or part of a massive pack, IBM Planning Analytics adapts to your needs. It’s perfect for individuals, teams, departments, or the entire enterprise. Talk about versatility!
- Advanced Security: In a world where data breaches are as common as cat videos on the internet, IBM’s stringent security protocols are a godsend. Your data is safe, sound, and secure.
- Accurate Forecasting: Detailed scenario planning helps you generate more accurate financial forecasts. No more guesswork – just solid, data-driven predictions.
- Predictive Insights: IBM Planning Analytics leverages predictive analytics to uncover insights automatically. It’s like having a crystal ball, but way cooler and more reliable.
- Integration Capabilities: Got data scattered across Oracle, SAP, and who knows where else? No problem. IBM Planning Analytics integrates data from multiple sources, giving you a comprehensive view of your business.
- Real-Time Reporting: Say goodbye to outdated reports and hello to real-time data. Transparency and efficiency in financial operations have never looked so good.
- Customizable Workspace: Tailor your workspace to fit your specific needs. It’s like having a personal assistant who knows exactly how you like your coffee – and your data.
The Reality Check
Here’s the kicker: Many companies are still using old versions of IBM Planning Analytics and haven’t tapped into its full potential. It’s like having a Ferrari but only driving it in first gear. Plus, many models were designed pre-COVID, and let’s face it, the business landscape has changed dramatically since then. New CFOs might feel the software isn’t meeting their needs, but often, it’s not the software – it’s the outdated models that haven’t kept up with the times.
Sidenote – Planning Analytic Clients should make sure they are on a supported Version!
Key item to note, IBM has announced the end of support for Planning Analytics 2.0 for April 2025. All customers will need to upgrade to Planning Analytics 2.1 by April to continue with support from IBM. You can read about this in detail in this blog - End of Support for Planning Analytics 2.0.9 - Lodestar Solutions. In short, older tools are going away including Architect and Perspectives. The need to plan your migration from Perspectives to PAFE is even more important. For more information on this see Mike's blog - Moving from Perspectives to Pafe in Planning Analytics.
Licensing Mix-
New CFOs should be questioning all costs. But maybe their questions about whether they should throw out IBM Planning Analytics are misdirected. Perhaps instead of questioning the technology we should ask, “Am I in the best IBM licensing model for my organization today?”
Over the years many clients have divested portions of their business and as a result, the licensing model you purchased 10 years ago is no longer the most applicable to you. IBM has many different licensing models. The licensing options include on-premise enterprise, on-premise express, IBM Planning Analytics SaaS, and IBM Planning Analytics on AWS. So many options!!!
I know it can get confusing! But don’t worry. Like that old comfy sweater, we have your back. For over 20 years we have been helping IBM Planning Analytics clients with their licensing, so we understand even the ancient licensing models. If you would like a complimentary discussion on this, contact us at Services@lodestarsolutions.com to schedule a review. If you want to learn more about Planning Analytics on AWS, check out Mike’s earlier blog - IBM Planning Analytics As A Service on AWS.
The Conclusion
So, should you throw out IBM Planning Analytics? Only if you’re not interested in flexibility, advanced security, accurate forecasting, predictive insights, integration capabilities, real-time reporting, and a customizable workspace. But let’s be honest – who wouldn’t want all that?
Instead of tossing it out, why not learn how to really use it? Lodestar Solutions can help you unlock the full potential of IBM Planning Analytics. Contact us at Service@lodestarsolutions.com and let’s take your financial planning to the next level!
