IBM Business Analytics & Risk Management–Determine Risk, Reduce Cost, Track Trends

August 08 01:05 2011 by Alexei Rivera Print This Article

With a reported 16 Billion new businesses opportunities worldwide and the modernization of all things – including social media – the need for new and consolidated views on Business Analytics and Optimization, as well as determining risk factors in businesses of multiple sizes are increasing at a fast pace. IBM plans to solve these problems by introducing their newly acquired BAO (Business Analytics & Optimization) and GRC (Governance Risk & Compliance) products for businesses here in Asia and around the world.

With key acquisitions in IBM’s portfolio like Cognos, OpenPages, and Clarity Systems, IBM’s new financial analysis solutions are now designed to consolidate data, collate financial reports, improve return on investments, and provide extra visibility into the drivers of revenue. This should enable a company’s Chief Financial Officer to stay on top of shrinking deadlines, inaccurate data sources, and pressure to provide concise and accurate decisions. Simply put, IBM’s new Business Analytics and Optimization services can now help the CFO’s of today to easily spot trends, follow them, analyze why they are happening, and finally make decisions to further improve company R.O.I. (Return of Investment).

Here’s a case study on Barclays and how IBM’s OpenPages reduced cost & improved its efficiency

With IBM’s Enterprise GRC Platform, companies are able to take a risk based approach to managing the business. With the stakes being higher especially for larger companies, it is imperative to understand the problems that might occur during operations. IBM provides capabilities to compare operational data with ORX (Operational Riskdata eXchange) to determine best practices in organizations such as banks. It also helps you unify business areas that were previously detached from each other – nullifying any communication problems in between. IBM calls this a holistic approach to mitigate risk and a simple view to bring it together and identify risk factors. This should ultimately enable companies to capture business lost events and cut through a lot of the organizations red tape.

For more information about IBM’s enterprise solutions, check out their BAO & GRC website here.

For more images from the event, check out the gallery below.