Finance in Focus: Insights from Velan Inc.'s finance transformation
In business, time is money. And for the office of finance in one organization, time saved in consolidation, budgeting and forecasting processes meant additional time for data analysis and identification of opportunities for growth. In this Finance in Focus podcast, IBM’s Paula Williams interviews Alex Salvaggio of Velan, a leading value manufacturing organization to discuss how growth and competitive forces led the company to initiate a "complete finance transformation". Leveraging the capabilities of IBM Cognos Controller and IBM Cognos TM1 enabled Velan’s office of finance to accomplish several goals:
- Reduce consolidation, budgeting and forecasting time
- Free up time and resources for analysis and delivery of highly in-depth information to executive management and board levels
- Enhance analysis of expense structures contributing to a savings of $9-10 million in 2015.
Moderator: Paula Williams, senior marketing manager, IBM Analytics
Expert guest: Alex Salvaggio, finance and budgeting manager, Velan Inc.