Leading Asian companies select Cognos for planning and financial consolidation   15th January 2007 Cognos says that two leading Asian companies, Johnson Electric in Hong Kong and Mapletree Investments in Singapore , have selected Cognos Controller to manage their financial consolidation and reporting. With more than $2 billion in annual revenue, Johnson Electric provides motors for automotive and commercial markets, exporting its products to more than 30 countries. Mapletree is one of the leading real estate companies in Singapore with an asset base of more than $1.9 billion. Johnson Electric is structured into four business unit groups, the Commercial Motor Group (CMG), the Automotive Motor Group (AMG), the Components & Services Group (C&S) and the JE Capital Group, With a fast-growing global business, complex product line and operations spread over four business units and more than 20 countries, Johnson Electric's objectives are to enhance operational and financial performance management by moving from a time-intensive, manual spreadsheet-based process to quarterly rolling forecasts, real-time cash flow analysis and long-range enterprise planning models that provide "what if" scenarios. The new system will hold key sales, forecasting and customer information integrated with human resources and capital expenditure data in a controlled environment where changes are quickly highlighted, complete with a documented audit trail. Mapletree is one of the leading real estate companies in Singapore with an asset base of more than $1.9 billion (comprising office, logistics, industrial and retail/lifestyle properties). With its focus on Asia , it has established an extensive network and presence across key cities in the region to better harness the increased global capital allocation to Asian real estate. This rapid growth and expansion of Mapletree in the region has resulted in a much bigger and more complex group structure. To better manage its consolidation process and its financial information platform, Mapletree is in the process of upgrading its current system with the help of Cognos. The Cognos solution will interface with Mapletree's database architecture, allowing easy integration of new data sources as well as providing analytical capabilities. Upon the successful implementation of Cognos Controller, Mapletree will be able to consolidate its corporate results more efficiently, and also to achieve more effective and insightful analysis on the group's performance. “The task of financial reporting and consolidation coupled with emerging compliance requirements is becoming too complex and time consuming to do manually,” said Dave Laverty, senior vice president and chief marketing officer, Cognos. “With Cognos Controller, leading companies such as Johnson Electric and Mapletree Investments, are able to organise their increasingly complex businesses to easily provide a single view of the global business. Companies are easily able to combine financial consolidation with business intelligence capabilities to provide staff with more reliable, timely and complete performance information. For finance, the ability to compress the time to close and enable business stakeholders to make decisions and report with confidence in spite of the fast-changing business environment and regulatory scrutiny is key to continued growth plans.” Organisations are looking to improve their closing process made difficult by business changes, new compliance requirements and disparate systems. Cognos Controller automates and structures the financial consolidation process, supports the improvement of the internal control environment and helps deliver valid, financial performance information for internal and external reporting. Cognos performance management solutions provide a single line of sight across all time horisons. Planning and consolidation combine the forward management view of the business (planning, budgeting and forecasting) with the current and historical view of the business (consolidations, reporting, and financial analytics.) This integrated operational and financial view lets customers proactively address business challenges for greater operational effectiveness. Related FSN articles FSN Product Review, Cognos 8 “Performance Management fit for the whole organisation”
About Us Privacy Policy Contact Us Copyright © 2006 FSN Publishing Limited. All Rights Reserved. Use of this website signifies your agreement to the Terms of Use.