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Briefly reviewing the general principles of financial reporting , we will remember that among its fundamental objectives are to facilitate the financial management of the company , analyze and better understand its real financial status to react to possible unforeseen events by making correct decisions, and achieve the commitment of the members. and the departments of the organization with financial forecasts made in accordance with the previously defined corporate strategy. To achieve these objectives, it is necessary to have tools that allow exhaustive, deep, detailed and real-time data analysis of the organization's financial status, project all possible scenarios to identify and take advantage of new business opportunities, and monitor the correct development of the financial plan drawn up, maintaining a comprehensive vision of the different corporate processes and activities. In short, it is necessary to have a Business Intelligence environment capable of facing the many and diverse challenges that arise when carrying out correct financial reporting.

Financial reporting with IBM Cognos and its applications, such as Report Studio Among all the Business Intelligence tools capable of providing a solid and reliable response to the challenges posed by financial reporting, the IBM Cognos platform stands out for offering a highly effective and innovative solution thanks to the planning and budgeting tools , and the forecasting and predictive analysis that it incorporates, among which we must undoubtedly mention the Report Studio component. We can find extensive information about IBM's Cognos platform in the free guide TM1: The new concept of business analytics , available in the publications section of this blog. Information that, complemented with the following 5 tips, will allow us to get the most out of one of the most USA Student Phone Number List powerful and functional BI platforms on the market. 5 tips for preparing financial reporting with IBM Cognos Incorporation of data in reports : any financial report must be supported by data and information that justify its final conclusions. However, incorporating them into financial reporting can sometimes be somewhat cumbersome if you do not have immediate and intuitive access to them. IBM Cognos BI incorporates an object explorer that allows access to structured data (among other objects that can be inserted in reports) at all times, facilitating the structuring of reports as this data is incorporated into them.



Data visualization : IBM's Cognos solution also allows you to insert different types of maps and graphs with the option of being displayed independently or grouped in different ways (the high level of customization of the tool regarding visualization of data allows us to get the most out of the information used when creating our reports). Definition of global formats : IBM Cognos allows us to define global formats for the most used parameters throughout the report, without having to apply a new format every time we incorporate some recursive parameter (such as currencies, percentages, etc.). Particular formats : the tools and applications integrated into the IBM Cognos Business Intelligence solution also allow us to define specific formats for sets of parameters and specific values ​​grouped in rows, columns or cells, making it easier for these to prevail, if we wish, over the formats. defined at a global level. Use of filters and macro-prompts : one of the great advantages of using IBM Cognos for financial reporting is that it distinguishes between filters and macro-prompts, the former being the typical filters known to all users. common tools of this type, and macro-prompts tools similar to filters but that act as query elements, thereby improving the performance of the report by streamlining and improving the speed of the queries carried out. Related posts: The public commitment to management based on the use of the CMI Performance indicators (KPI) for social media strategies Dashboard applications: self-service in BI projects.
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