When running a business you will have some extremely important decisions to make concerning the services that your business uses to help operations running. There is a lot of competition out there and trying to figure out the differences between certain companies can be tedious and time-consuming. We are going to outline the differences between two major systems used for performance management. The cognos Tm1 vs anaplan, similar to anaplan vs adaptive argument has been a lengthy one with business owners really not caring about it much at all.
Firstly, what is anaplan? The name was created by combining analysis and planning. It is a web-based platform used for business planning. It is known for it’s use of in memory database as well as a calculation engine known as hyperblock.
When you upload data to the cloud you can then organize and analyse the data such as finance, HR, sales and many other business operations. By using this you can make data-driven decision that would be out of reach without a data-scientist. You can access modules for Workforce planning, budgeting planning, commission calculation, quota planning, project planning, demand planning, and forecasting, financial consolidation and profitability modelling. All of these will assist you in business planning.
Cognos is a software requiring more knowledge to understand how to use and implement it. You need to require professionals otherwise it would just be a wasted system costing you money. For very large scale enterprises this would be a very valuable choice for the cognos Tm1 v anaplan debate. Cognos is fundamentally the most flexible, most scalable and has the most features of any planning platform currently on the market. Of course if you are a small business then you are not requiring such a large platform.
To use a software with this much advantage comes with a cost, there is a code that must be written and customised, this means there will be a steep learning curve and also requires the commitment from the client as well as investment into your code. This is where specific professionals will need to be involved. A consultant can help you choose whether this is your best option in the cognos tm1 vs anaplan debate.
One major difference when comparing cognos tm1 vs anaplan is that cognos is a software that needs to be installed onto your computer, whereas the latter is a cloud based system which can be accessed on the web. Being able to access your tools via the web gives you the flexibility to access it from any location at any time rather then only accessing your data while in the office.
When talking costs of cognos tm1 vs anaplan you need to consider the size of your business. A smaller business with less data will find cognos may be a more expensive option. Being a larger management tool it is best suited for larger companies. Neither is clearly out front due to business size making the main reason for comparison.
On comparing cognos Tm1 vs anaplan it is important to understand the latter was created by ex-cognos employees. They understand the system because they helped create cognos but wanted a cloud based software so created the latter.
When thinking speed the latter comes out number one between the two. With cognos being a software primarily run from your computer means calculations aren’t always done in real time. The latter however is done automatically in the cloud based system allowing instant access to the answers you are looking for.
To really understand the comparisons of cognos tm1 vs anaplan you will need to do some homework and consider the size of your business, how many departments you have and how much data you are collecting that needs analysing.