News Coverage

Case Study: Cellular South Taps IBM Cognos TM1, Revelwood For Business Performance Management
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November 25, 2009—According to Justin Croft, Cellular South’s manager of financial analysis and planning, the rapid growth of Cellular South notwithstanding, his department found itself saddled with an outdated and inefficient budgeting system.  Complete Article?

Cellular South Selects IBM Cognos TM1, Revelwood to Deploy its Solutions
TMCnet.com
April 2009—U.S. based privately held wireless provider Cellular South said that it’s using IBM Cognos TM1 and Revelwood to deploy budgeting, planning and reporting solution. Justin Croft, manager of financial analysis and planning at Cellular South, said that the company was using an old general ledger system that flowed into the financial reporting tool. This left the company with multiple spreadsheets to create an operating budget, capital budget, sales forecast, customer budgets, and so on, according to Croft.  Complete Article?

Case Study: Colonial Properties Trust Improves Reporting and Analysis with IBM Cognos TM1 and Revelwood
Information Management Special Reports
April 2009—Colonial Properties Trust, headquartered in Birmingham, Alabama, is a multifamily real estate investment trust (REIT) that owns and manages commercial, retail and residential assets in key sunbelt states from Virginia to Nevada. We were using several dozen Excel spreadsheets as part of our menagerie of tools for creating financial reports. With data scattered in multiple, disparate sources, the company’s financial team had a difficult time gathering data to assemble financial reports. Everything was done manually, making reporting laborious and potentially error-prone. Although the “vanilla ice cream” reports – such as the balance and income sheets – could be done easily with the setup we had, as we grew larger reporting became much more difficult when we needed more detail behind the numbers in the reports. Complete Article?

Why It’s Time to Say Goodbye to Traditional Budgeting
American Management Association
April 2009—General Electric Chairman Jack Welch doesn’t think much of budgets. In his best-selling book, Winning, he calls the budgeting process, “the most ineffective practice in management. It sucks the energy, time, fun and big dreams out of an organization…In fact when companies win, in most cases it is despite their budgets, not because of them.” Complete Article?

Managing in the Fog: The Struggle to Make Meaningful Forecasts in a Downturn
The Economist
February 26, 2009—“NOT to beat around the bush, but the budgeting process at most companies has to be the most ineffective practice in management.” Thus Jack Welch, the former boss of GE, in his book “Winning”, which was published several years ago. Many firms that put their 2009 budgets together at the end of last year will no doubt agree with him. Most of them will have already been consigned to the shredder, as the economic crisis has blown away the assumptions on which they were based. Complete Article?

Spreadsheets Out, Rolling Forecasts In
CRMBuyer
February 3, 2009—Traditional budgeting processes are giving way to rolling forecasts, which are more manageable, secure, streamlined and accurate. This means a major cultural shift for many companies, away from the 12-month annual budgeting cycle and toward "a single version of the truth." Complete Article»

Telco Company Improves Budget Process and Performance Management
Information Management
January 27, 2009—Cbeyond is a provider of integrated communications and IT services to more than 40,000 small businesses. As the only telecommunications service provider focused solely on serving small businesses, Cbeyond’s mission is to deliver "big business" communications services to small business customers at prices they can afford. Complete Article»

Cbeyond to Get BPM Solution from Revelwood
TMCnet.com
December 17, 2008—Revelwood, a provider of sales and business performance management solutions, is offering its business performance management solutions to Cbeyond, an integrated communications and IT services provider, to handle reporting, planning and budgeting activities. Complete Article»

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