IBM's Business Analytics & Risk Management Solutions for a Smarter Planet

Monday, May 23, 2011

Industry Solutions Leader for the IBM ASEAN Software Group Praveen Thakur discusses Risk Management and the changing roles of CFO's.

Research and development, database management, information security, consolidation, business analytics, organization and optimization are some of the things a corporation should take very seriously. Information for a corporation is vital and IBM knows this. It can actually make or break success... and scientifically predict its future; it all should be precise and complete. I also do this for a living (yes I do have a day job); and part of the tedious reports I do is manually crunching numbers, generating them 7 different ways in 7 different languages (imagine spreadsheets, multiple tabs). Yes, it is tedious; but VERY necessary... otherwise, there wouldn't be any data to support bigger decisions in operating projects.

Charles Manuel Business Unit Executive of the Business Analytics Division - IBM ASEAN Software Group mentions how important Analytics is in an organization. Ms. Noona (right) explains how the acquisition of COGNOS made remarkable advancements in providing solutions through IBM.

It was nice to see people from the IBM Finance Forum last May 20, 2011. I knew my reports were hard but believed there was a way to automate things of this scale. Charles Manuel Business Unit Executive of the Business Analytics Division - IBM ASEAN Software Group explained the importance of tools used for "Business Analytics and Optimization". It's a holistic approach to integration of large/small scale enterprise data. Their solution is a combination of software, systems, services and research which standardizes business processes and automates generation of information needed to utilize pre-existing and valued information. It also clears out redundancies and inconsistencies found in most stored data silos and only keeps those which are important; saving a lot on resources. He also mentioned the importance of knowing that brands change in real time. Corporations must know how to do it with tools that would be able to manage risks, generate metrics and support forecasting because there should always be a deeper analysis of trends and patterns from previous months/years. Together with COGNOS, SPSS, OpenPages and Clarity Systems they would be able to support the infrastructure and software requirements of enterprise scaled businesses in the ASEAN; one emerging market.

Industry Solutions Leader for the IBM ASEAN Software Group Praveen Thakur discussed ways how we can use Enterprise Governance, Risk and Compliance (GRC) Platform to Improve Risk and Compliance Initiatives. This particular subject touched on how to manage large data and social media's effects on information explosion. Risk reduction and management costs should be an integral part of any organization. There ought to be a fail safe process and a "way" to use these large chunk of data to the advantage of the business. IBM can work with corporations for analysis of structured and unstructured information but still stay cost effective. This will be one of their main thrusts until 2015. Mr. Thakur also mentioned the changing roles of CFO's in organizations. They are no longer just the plain auditing department and become one of the integral parts of the organization and its operations. IBM's line of Software, Hardware and services for integration are standardized and can cut costs by limiting redundancy, preventing risks and determining trends that would greatly affect the business. OpenPages of IBM can make consolidating risk management practices a cinch!

For the best advise you need about these subjects, you know where to turn to. After all, 100 years experience in the industry might be the best convincing factor in their resume right?!



Visit their website

Like them on Facebook


No comments: