Myriad Group, the provider of mobile phone software, has selected IBM business analytics software to help streamline financial reporting across its worldwide businesses. Myriad Group has 14 offices globally and more than 800 employees
Myriad resulted from the merger of two of the industry’s leading companies, Purple Labs and Esmertec. It provides software platforms and middleware for 2G and 3G phones and has shipped software on more than two billion phones. Bringing these entities together in a quick and efficient way over the last 9 months was necessary to drive efficiencies and streamline the business, which was time consuming and complicated.
Myriad turned to IBM and IBM business partner ICit Business Intelligence Ltd to help with a successful merger of the two companies and combine the planning, analysis and reporting capabilities of the two organisations. ICit business intelligence Ltd is an IBM Business Partner with a multi-disciplined team of finance and systems mplementation experts.
IBM says that its business analytics software has helped Myriad to quickly analyse financial data from profit and loss accounts, cash flow information and balance sheets. The result has been more time for managing the performance of the business and focussing on strategic planning.
“Previously, we had a slow month end process because of the complexity of the analysis involved. Now this has been streamlined and simplified. The system is easy to use, and as a global business it’s really powerful to have information available virtually for all our executives. The clarity of the analysis is critical for future growth and prosperity of the business.” commented James Bodha, Chief Financial Officer at Myriad.
“When I started looking at our financial reporting it was clear many of our processes were manual,” James Bodha added. “We were always playing catch-up as the information was out of date by the time it was analysed. Now the time taken to validate the data is much shorter and we’ve been impressed by the software since its implementation. It was complex to bring the acquired businesses together and using one financial reporting system gives us clarity.”
Following the proof of concept for Myriad and the decision to go ahead, the implementation process was completed in just 10 weeks.
“The company has a huge amount of financial information and reporting data to be collated and analysed every month. Now it can complete financial reporting more quickly and efficiently, as well as using the software for forecasting and planning,” commented Mark Bodger, Managing Director, ICit Business Intelligence Ltd.
Ged Simmons, country manager, BI and performance management, UK and Ireland IBM, added “We are delighted that Myriad Group chose IBM business analytics software to help provide them with a clear view of the organisation’s finances as well as manage individual, team and business performance.”
The new IBM analytics system is powered by IBM Cognos Express, an integrated business intelligence and planning solution designed to meet the needs of mid-size companies.
