IBM-Onyx Pharmaceuticals

Technology Used: Cognos TM1

Solution: Onyx Pharmaceuticals is a publicly-traded company located in Emeryville, California. Specializing in bio-pharmaceuticals, Onyx develops medications to treat different types of cancer.

Forecasting, budgeting, and planning are crucial to daily operations at Onyx Pharmaceuticals. The company used Microsoft Excel for some time for budgeting tasks, but eventually realized that its use as a budgeting application had been exhausted. Onyx needed to find a replacement application that was flexible, would reduce the company’s reliance on spreadsheets, and would encourage all members of the company to play a role in financial planning.

Relying on Applied Analytix implementation methodology, Onyx Pharmaceuticals deployed the IBM Cognos TM1 solution. The IBM software provided the drug developer with a customized budgeting, planning, and forecasting system, as well as a robust reporting tool.

Thanks to help from Applied Analytix and the high quality of IBM’s software, Cognos TM1 has become an essential part of the pharmaceutical developer's operations. The transition from Excel to Cognos was relatively pain free thanks to the spreadsheet look and feel of the new program. It also gave more staff members the confidence to build reports. The Web-based front end allowed individual stakeholders to access information about budgeting and planning, which translated into a reduced need for numerous time-consuming reports. The Web capabilities allowed more people to access information, which has encouraged departments to get more involved in the company’s budgeting and planning processes. Finally, thanks to Cognos TM1’s dashboard capabilities, the company’s management team can accurately assess Onyx’s key performance indicators and evaluate their progress on tasks and projects.

Further details: http://www-01.ibm.com/software/success/cssdb.nsf/CS/SANS-7WTHAP?OpenDocument&Site=corp&cty=en_us