The world of finance is evolving rapidly, and AI is no longer a futuristic concept—it’s a practical tool that can transform how finance teams operate. But for many organisations, the idea of integrating AI into their workflows can feel overwhelming. Where do you start? How do you ensure success? The answer lies in taking a gradual, strategic approach. With Watson Orchestrate and IBM Planning Analytics, you can start small, prove the value, and scale your AI initiatives with confidence. At Octane, we guide you through this journey, from exploring use cases to delivering impactful projects. Why ...

The holiday season is a time for joy, relaxation, and quality time with loved ones. However, for many finance teams, it’s also a period of intense activity. Year-end closings, budgeting, and reporting deadlines can pile up, creating a stressful and demanding environment. Imagine spending your holiday season worrying about potential system outages, data load failures, or urgent user queries. It’s a scenario that can disrupt your well-deserved break and compromise your team’s productivity. Leverage Dedicated TM1 Support During the Holidays Engage a reliable TM1 support partner to handle system ...

Attending IBM TechXchange in Mandalay Bay, Las Vegas was an exhilarating experience that showcased the cutting-edge IBM technologies shaping various industries today. The conference brought together technologists, IBM Champions, thought leaders, industry experts, and innovators eager to share insights and explore the latest advancements in IBM's technology portfolio. From AI to cloud computing, the event highlighted how these tools are transforming businesses, making operations more efficient, and ultimately driving better decision-making. As an IBM champion we were treated as VIPs with row ...

Effective management of Planning Analytics (TM1), particularly with tools like IBM’s TM1, can significantly enhance your organization’s financial planning and performance management. Here are some essential tips to help you optimize your Planning Analytics (TM1) processes: 1. Understand Your Business Needs Before diving into the technicalities, ensure you have a clear understanding of your business requirements. Identify key performance indicators (KPIs) and metrics that are critical to your organization. This understanding will guide the configuration and customization of your Planning ...

For over a decade and a half, my life has been intertwined with the WRX Car Club of NSW, a vibrant community centered around a shared passion for Subaru's iconic rally-inspired cars. What began as a casual interest in high-performance vehicles evolved into a deeply enriching journey that has left an indelible mark on me and my family. I still remember the first time I attended a club event, a curious enthusiast drawn by the allure of the roaring engines and the camaraderie of fellow enthusiasts. It was a world unlike any other, where speed and adrenaline converged with a sense of belonging ...

In the realm of digital transformation, the concept of digital labor has emerged as a game-changer for businesses seeking efficiency, agility, and innovation. IBM WatsonsX Orchestrate, a powerhouse in the AI and data orchestration space, takes center stage in this digital evolution. This blog explores the pivotal role played by WatsonsX Orchestrate in reshaping digital labor and how it empowers organizations to harness the full potential of artificial intelligence (AI) and data science. Orchestrate allows you to add and train new automations from a variety of sources, enabling users to easily ...

In a recent announcement, IBM unveiled changes to the Continuing Support program for Cognos TM1, impacting users of version 10.2.x. Effective April 30, 2024, Continuing Support for this version will cease to be provided. Let's delve into the details. What is Continuing Support? Continuing Support is a lifeline for users of older software versions, offering non-defect support for known issues even after the End of Support (EOS) date. It's akin to an extended warranty, ensuring users can navigate any hiccups they encounter post-EOS. However, for Cognos TM1 version 10.2.x, this safety net will ...

With the holiday season just around the corner, the air is buzzing with excitement as individuals eagerly anticipate spending quality time with their loved ones. As companies prepare for the annual shutdown, employees are gearing up for some much-needed rest and relaxation. However, amidst the festivities, it's essential to ensure that business operations continue to run smoothly, especially for those facing month-end reporting obligations. Maintaining Business Continuity: The holiday season is a time to unwind, reflect, and connect with family and friends. However, in finance, the show must ...

In today's digital age, businesses are constantly seeking ways to optimize their data management processes. One solution that has gained significant popularity is the migration of planning analytics to the cloud. This strategic move offers several advantages that businesses can leverage to enhance their data management capabilities. Why Cloud? One of the primary reasons why companies are making the switch to cloud-based planning analytics is the instant global presence it provides. By storing data in data centers located around the world, organizations can ensure that their data is accessible ...

In today’s highly connected world, IT systems are critical for the success of any business. But as with any technology, these systems can fail. When they do, the repercussions can be devastating. From lost data to lost customers, the impact of a failing IT system can be far-reaching and costly. Fortunately, there are steps businesses can take to avoid great failures of IT systems. By understanding the potential pitfalls and implementing strategies to prevent them, organizations can protect themselves from potentially catastrophic outcomes. 1. Establish a Plan for Regular Maintenance and ...

Process Mining and RPA are two powerful tools that can help organizations increase efficiency and reduce costs. When used together, they can provide unprecedented visibility and insight into organizational processes, allowing for greater scalability of RPA implementations and unlocking hidden value. With Process Mining, organizations can identify inefficiencies in their processes and use RPA to automate tasks and optimize operations. CFOs recognize the potential of this combination and view investments in Process Mining as a key factor in maximizing returns from RPA. In fact, a 2021 Gartner ...

There’s never been a greater need for automation Are you looking for the perfect way to unlock hidden value from your business operations? Look no further than Process Mining and Robotic Process Automation (RPA). When these two powerful software tools are deployed in tandem, organizations can realize millions of dollars in savings and unprecedented operational efficiency. In this blog post, we'll explore how the two work together, what kind of results organizations are seeing, and how you can get started fast. Let's dive in! The current climate of soaring inflation and labor shortages ...

In recent years, Octane has been expanding into new markets and introducing its business solutions to help organisations achieve their goals. Octane is an IBM Gold partner based out of Sydney Australia and operates in Australia, India, and UAE with clients located in all parts of the world. Octane's entry into Fiji presents a unique opportunity for businesses in the region to access the company's technological expertise and benefit from its innovative solutions. Octane runs a 24/7 Managed Service operation from its Indian delivery centers and would be training staff and setup a delivery ...

One of the interesting things about Octane Red and Blue is that there is no onboarding you can start to ticket on the first day of your subscription. Over time, we are studying tickets that the user creates and anticipate that the user will have the same ticket for the next month so we will create it in advance so that users will no longer make one, that is what we call recurring tickets. There is a lot of automation that we can introduce, and this will no longer require any human intervention needed during the process, and tasks that are ticketed will be automated. Preventative maintenance ...

If you are a TM1 user then you would have surely come across times when you required assistance in support or Development (DevOps) for your implementation. Thousands of companies use TM1 globally for financial and business performance reporting, calculation and presentation of KPIs, allocation, and apportionment, and as a tool for data collection. While having all that factors, a company may also experience pain points like costly consultants for TM1 Development and the struggle to hire a TM1 developer. We have released Octane Blue and Red which allows you access to TM1 developer and support ...

Balancing Flexibility and Standards - IBM Cognos TM1 Govern Data Discovery The world of data has infinite variety…and infinite requirements. No single analytics solution will please everyone. But it is possible to combine the strengths of complementary solutions to help meet the needs of both enterprise IT personnel who crave data governance and the end business users who are hungry for self-service. IBM offers different flavors of analytics to bring you the best side-by-side experience. In today’s blog, I would like to focus on IBM Cognos TM1 Planning Analytics - a unique union of data ...

It’s an amazing feeling as we gear up to celebrate Octane’s 5th anniversary. What started as an idea and nurtured by me and my senior leaders is fast transforming into an established and growing enterprise. Five years is usually a significant milestone in a startup’s life as it pushes you into a grown-up zone. It’s been an exciting journey and the pandemic indeed threw some curveballs at us. From Macquarie to Octane I am often asked about the motivation to resign from Macquarie Group to start Octane. Macquarie was an excellent learning ground to nurture one’s entrepreneurial fire. I found a ...

Octane Software Solutions is a cutting edge technology and services provider to the Office of Finance. Octane is partnered with vendors like IBM and BlackLine to provide AI-based solutions to help finance teams automate their processes and increase their ability to provide business value to the enterprise. Qubedocs is an automated IBM Planning Analytics documenter. It generates automated documentation within minutes and ensures compliance and knowledge management within your organisation. So, we're excited to announce our partnership with QUBEdocs - a solution that takes the resources and ...

We have made it easier for your users to access Planning Analytics with Watson (TM1) Training. This week we launched our online training for Planning Analytics with Watson PAW and PAX; available online in instructor-led, 4-hour sessions. Planning Analytics with Watson (TM1) Training This training provides the ideal time for you to spend some of your allocated training budgets; often assigned but never utilised on something that you can actually apply in your workplace. We have made it easy for you to book your training online in a few easy steps. IBM has been consistently improving and adding ...

Have all the data but not the full picture ? Business Intelligence is not a software application but rather concept of accelerating and improving decision making; optimizing internal business processes; increasing operational efficiency; driving new revenues; and gaining competitive advantages over business rivals. BI systems should help companies identify market trends and spot business problems that need to be addressed. It encompasses displaying historical data as well as new data as its generated from source systems enabling analysis to support both tactical and strategic decision making ...

Starting 1 April 2021, "with Watson" will be added to the name of the IBM Planning Analytics solution. IBM® Planning Analytics with Watson will be the official product name represented on the IBM website, in the product login and documentation, as well as in marketing collateral. However, IBM TM1® text will be maintained in descriptions of planning analytics' capabilities, differentiators and benefits. What is the "Watson" in Planning Analytics with Watson? The cognitive help feature within Planning Analytics with Watson is the help system used in IBM Planning Analytics Workspace (Cloud). ...

The much awaited major release of Workspace is out now. The new version Planning Analytics Workspace 2.0.57 is available for download for on premise installs. Cloud version will follow in Mid October. Planning Analytics Workspace was released on 11th December 2015. This new look and feel and the features like workflow, AI forecasting, the rich visualisations and virtual dimensions + the features TM1 was born with - the write back, On the fly Consolidations and excel integration will now take TM1 to the next level... TM1 is putting the final nail in the coffin for its competitors! Here is a ...

2020 has been an interesting year for us ! Celebrations This month Octane celebrates our 4th anniversary. Never imagined that we would be celebrating with our team members across different geographies via online gifts and Teams meetings. Normally we fly in all our team members to one location for the weekend and have a great time bonding. However with the global pandemic we had to adapt as the rest of the world is. The journey so far On the whole, reflecting back on the journey so far on our anniversary 2020 certainly has thrown in an riveting challenge. Having started from a small shared ...

In light of the heightened level of concern related to the spread of Coronavirus (COVIS-19) we want to provide an update on the actions Octane is taking to safeguard the health-being of our clients, our associates and their families. All of our 7 offices around Australia, India and Middle East are continuing to serve the needs of our clients. For your and our safety we are following the guidelines in respective countries public health authorities. We are monitoring the situation daily and continue to take guidance from public health authorities. There are number of steps we have taken as part ...

Octane turned 3 this year and to put icing on the cake Octane just attained the status of IBM Gold Business Partner. Sounds a bit of founder’s cliche, however it really has been an extraordinary journey. It all started with a passion to fill a gap in the market. Biggest task though was building a team that is equally passionate and sold on the idea of transforming how a vendor could play a more strategic role in partnering with clients to shape their Data and Business Intelligence objectives to deliver actionable insights. After having interacted with most of the vendors in this space over 15 ...

IBM Planning Analytics (TM1) vs Anaplan There has been a lot of chatter lately around IBM Planning Analytics (powered by TM1) vs Anaplan. Anaplan is a relatively new player in the market and has recently listed on NYSE. Reported Revenue in 2019 of USD 240.6M (interestingly also reported an operating loss of USD 128.3M). Compared to IBM which has a 2018 revenue of USD 79.5 Billion (there is no clear information on how much of this was from the Analytics area) with a net profit of 8.7 b). The size of global Enterprise Performance Management (EPM) is around 3.9 Billion and expected to grow to ...

With a variety of business intelligence applications at your disposal, it’s worth investigating the best and comparing your needs against each product to get the best return on your investment. Here are three ‘must-haves’. 1. Customisable workspace With a business intelligence application like IBM Planning Analytics, you can enjoy a single and consistent environment in which to manage your KPIs. So whether you need to measure business performance, evaluate and alter plans, expose gaps or test-drive the impact of potential scenarios on your business activity, you can do so in an interactive, ...

Despite the rampant growth of new data, constantly evolving technologies and the digitalisation of entire sectors, there are a few facets of business that will never be eliminated entirely: volatility, uncertainty and risk. But with business intelligence tools, you can keep your organisation on the right track and reduce the inherent risks of day-to-day operations. Here’s how. A complete, all-in-one business tool When seeking out a business intelligence tool to adopt in your organisation, you’ll want one with speed, agility and flexibility, so it provides a return on your investment. With IBM ...

The role of financial planners and analysts has expanded from assessing and reporting to data science. That’s why there’s a very real need to adopt the best financial planning software. Financial planners and analysts are now expected to have comprehensive knowledge of to access and collect information from business intelligence (BI), enterprise resource planning (ERP) and other data sources. But without the right software to support them, their struggles are compounded. The financial team’s daily struggles There are many issues that financial planners and analysts face on a daily basis, ...

The right business intelligence software can help companies beat out the competition and become market leaders in their industry. We reveal how to leverage three key benefits of business intelligence software - and overcome some potential drawbacks! 1. Integration across disparate business systems In order to derive the best strategic insights, you typically need to analyse data from across a number of different systems. Your company’s operational results, for example, require a financial perspective. That means your business intelligence solution should be able to integrate data from various ...

Picking the right business intelligence tools for your organisation is essential in the current era of big data. With information coming from all angles, it’s imperative to leverage the best software to make sense of your data and parse it into actionable, meaningful decision-making. Why do you need business intelligence tools? In their most basic form, business intelligence tools allow you to ‘see’ your data. This means you can watch how your data creates patterns and correlations. That information – including statistics and current trends – can then be used to formulate plans for the ...

In our hyper-connected business world, organisations are often siloed and sometimes spread across multiple locations. Combine that with the fact that the majority of employees are ‘hooked in’ to company-wide systems via their smart devices, and you have a raft of users able to access data and alter it. The problem? This often creates version-control issues that not only impact productivity and the effectiveness of your business intelligence (BI), but can harm your reputation and profitability. What is a ‘single version of the truth’? When discussing ‘truths’ in the form of BI, it’s important ...

There’s no question that more and more enterprises are employing analytics tools to help in their strategic business intelligence decisions. But there’s a problem - not all source data is of a high quality. Poor-quality data likely can’t be validated and labelled, and more importantly, organisations can’t derive any actionable, reliable insights from it. So how can you be confident your source data is not only accurate, but able to inform your business intelligence decisions? It starts with high-quality software. Finding the right software for business intelligence There are numerous business ...

Smart businesses are seeking out new ways to leverage the benefits of their big data analytics programs, and the self-service model is coming up trumps. By placing the onus directly on business users, enterprises are empowering customers with insights-driven dashboards, reports, and more. But it’s not the only bonus. Arguably an even greater upside for organisations is that it alleviates the talent shortage that often comes with big data. With most companies only employing a handful of data experts who can deliver analytics insights to customers, the self-service model means they are freed up ...

Forward-thinking enterprises are using business intelligence and analytics to navigate through their digital transformation – one that could see them expand both physically and fiscally at a rapid pace. The ability to harness this data and use it to make business decisions, however, poses challenges. This is particularly true for organisations that haven’t previously had the technology nor the manpower to sift through all the historical data they’ve accumulated in their daily activities. Think about it – by 2020 it’s predicted there will be 5,200GB of data for every individual on the planet. ...

The prevalence of artificial intelligence (AI) can be felt across countless industries, with the technology helping businesses modernise through automation, business analytics, strategy and more. Even governments are recognising how critical AI is to the future of enterprise, with the 2018-19 Australian federal budget committing $29.9 million over four years to bolstering our AI and machine learning (ML) capabilities. So it’s clear that AI is here to stay. But how can you use AI to derive actionable business insights? After all, the point of adopting any technology should be to use it to your ...

How to utilize TM1 Planning Analytics functionality for your Technology Allocations Allocation Technology and other Service charges back to the departments is typically a difficult exercise for most organisations. There is a large amount of different data sources , data mapping, calculations and reporting capability required. This is just for the actuals – forecasting accurately is usually a bridge too far for most organisations. It does not have to be this difficult! Why do we need to allocate charges – It largely influences the behavior and ensures that departments incur appropriate level ...

As the CFO of your company, your organisation relies on you for more than just numbers. Yes, spreadsheets and financial reports are the hallmarks of your profession. But what about business intelligence and forecasting? Today, the explosion of data available in business matches the explosion of competition in today’s markets and CFOs need to harness that wealth of data to compete. CFOs need better business intelligence tools to identify upcoming opportunities and grab them before their competitor does. They also need to foresee potential losses and advise on how to mitigate risk. In short, ...

IBM Cognos TM1 supported by Planning Analytics is the ideal technology for making Excel-centric budgeting, forecasting, financial reporting and any spreadsheet-based analytical application scale to the enterprise. IBM's TM1 for Microsoft Excel brings the power and familiarity of Excel to the arena of modern enterprise performance management. Planning Analytics, on the other hand, enables business and financial analysts, line-of-business managers and others to explore and analyse data from a variety of different sources—including IBM Cognos TM1 and IBM Cognos Business Intelligence—without IT ...

Is your organisation not realising the full potential of your IBM TM1 implementation? A quick and easy way to increase your productivity, reduce cost and risk is to ensure your users are properly trained in your TM1 model. The best deployed TM1 models can have limited engagement and usefulness if your users are not using it properly TM1 models are built ground up and almost always unique to the organisation so a stock TM1 training usually does not help. 4 Key features of a effective TM1 training delivery Training is tailored to the needs of your users - Almost all TM1 models are unique to ...

I have been closely following and writing about trends in the business intelligence market over the past three years. During this time, I can’t say that we’ve seen any “radically new” trends, and I don’t expect any to emerge in the second half of 2017. What I have seen, so far in 2017, is the “evolution” of the dominant trends driving a dynamic BI market. The global business intelligence market is expected to reach USD 26.50 billion by 2021, growing at a CAGR of around 8.4% between 2016 and 2021 (Zion Market Research). Here are the 5 BI trends predicted to most influence the BI market in 2017 ...

This may be the most cost effective and scalable method to take your TM1 application to the next level. There are many reasons why outsourcing your TM1 support and development could be the right solution for your organisation: - Access to highly skilled TM1 developers on demand in a cost effective way - Models built a couple of years ago haven't evolved with the business - Lack of ownership within the organisation - Shortage of skilled TM1 specialists capable of managing the application In today's blog, we would like to list and discuss the five key benefits of outsourcing your TM1 support ...

Budgeting and Forecasting is a key function provided by the Finance team. Its no secret that most of the teams dread the budgeting period. Not only it ends up being a manual data crunching and bogged down in spreadsheets it also is a soul destroying exercise as many Finance professionals go through the motions knowing that the numbers they are generating are not relevant and cannot be reliably used to make key enterprise decisions. Organisational complexity is growing. Business demands more insights, better granularity and driver based projections. With evolving business environment ability ...