Vinny StackhouseDirector of Financial Reporting
Vinny, director of financial reporting systems for a large financial services firm, leads a team that oversees what he calls “relational data management.” Chief among Vinny’s many responsibilities is developing and maintaining the company’s Dimension Library—a customized set of attributes for core chart of accounts segments. These attributes are used to automate the maintenance of core dimension hierarchies that support a vast range of reporting requirements.
Vinny’s team was tasked with organizing the attributes for Accounts, Departments, Entities, Legal Entities and Locations to support legal, functional and geographical reporting needs. The Dimension Library is the nucleus for all reporting and modeling—P&L, Balance Sheet, Business Unit, Regional, Foreign Source Revenue, Regulatory, Allocations and more. The goal was to build a flexible, dynamic and scalable system to manage the Dimension Library that simplified and streamlined attribute data and dimension maintenance while adhering to corporate data governing standards.
His firm selected IBM Cognos TM1. Vinny and his team never doubted the decision for one second and knew exactly what they wanted to accomplish. The new system enables Vinny’s group to automate the extraction of Dimension Library data and the associated maintenance of hierarchy structures very efficiently. In fact, the entire standard set of hierarchies and matrixes can be rebuilt in a matter of minutes as opposed to the hours, days or even weeks it would take before implementing the TM1-based solution. New segment value requests used to take hours or days to get incorporated into the Library and hierarchies. Now these requests are handled in just a few minutes.
Vinny’s uses of TM1 are not limited to the Dimension Library. He and his team can easily create their own manual accounts for KPIs and other metrics and then collect data from the system’s users very rapidly. Overall, Vinny’s new approach translates into decreased maintenance time and increased productivity. Consequently, his team can accomplish far more work in the same amount of time they previously spent.
As a result of his efforts, Vinny received the “Commitment to Excellence and On-Time Delivery of Project ATLAS” award from his organization. He also has presented at IBM Business Analytics SAB and Cognos User events, and even earned a well-deserved promotion.
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