NCH, the UK's leading children’s
charity, has embarked on an ambitious plan to upgrade its
budgeting, reporting and financial planning systems.
The charity is to
implement Cognos TM1 to consolidate more than 2000 Excel
spreadsheets, which will be pulled into one comprehensive,
centralised database holding budgeting and financial planning
data.
By implementing an
upgraded financial planning solution, NCH aims to save time and
reduce costs for the charity. Explained Mark Geagan, project
manager at NCH, “The [previous process] was too time-consuming…NCH
will [now] be able to do essential revisions quickly and
efficiently, becoming far more cost effective in both the short and
long-term”. With the ability to create models [in TM1] that suit
the specifics of our business, we see the potential to continue
developing the system across more of the charity in the near
future.”
NCH will also use
its new software to help look at future reporting for the charity,
specifically in the area of
performance management as
well as more general reporting by use of the software’s dashboard
capability.
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