Applix, Inc., a global provider of business intelligence (BI) and business performance management (BPM) solutions, announced that it has been selected by an increasing number of government contractors looking for ways to accelerate financial reporting, centralize planning and forecasting and better manage contracts.
Government contractors, particularly those concentrated in the Washington, D.C. metro area have been attracted to the TM1 platform to help improve contract budgeting and forecasting processes. Many of these contractors have seen a significant leap in productivity and improved reporting and analysis capabilities after implementing TM1. The adoption of business intelligence solutions are being driven by the difficulty these companies have creating timely reports and analyzing data stored in Deltek, a common accounting system for government contractors.
"CFOs at government contractors have told us that their financial analysts are spending up to 80 percent of their time maintaining spreadsheets and rekeying data generated from their Deltek systems to produce the required financial reports," said David Menninger, vice president of worldwide marketing, Applix, Inc. "Having the financial analysts spending all their time on administrative tasks meant that bigger picture issues such as contract profitability and cost overruns were not being monitored properly. TM1 with our partner Adonix is helping government contractors accelerate business decisions by improving their program budgeting and forecasting processes dramatically."
Return on Investment Came Early for Government Contractor NCI
Government contractors using TM1 have been able to see rapid return on their investments. According to an independent analysis prepared by Nucleus Research, the leading provider of bottom-line focused technology research, NCI has been able to realize direct savings in personnel costs and increases in working capital through quicker access to up-to-date and consistent financial data. According to the Nucleus study, NCI will realize a 97 percent annualized return on its investment in TM1 and a payback in less than 15 months.
NCI is one of the fastest growing IT organizations in the U.S. with more than 60 locations and 1,400 employees. With its broad range of core competencies and devotion to complete customer satisfaction, systems integrators and federal, civilian, and Department of Defense customers alike regard NCI as the "partner of choice." NCI's award-winning expertise encompasses areas critical to its customers, including enterprise services, security, systems development and integration, information management, and engineering and technical services.
Prior to using Applix's TM1, NCI's financial reporting, budgeting and forecasting processes relied upon spreadsheets, manual effort and multiple homegrown systems. Following the deployment of TM1, tasks such as financial reporting and budgeting have significantly improved from speedier creation of routine and ad hoc reports, as well as the ability to monitor and manage financial transactions more effectively. These improvements have made it faster and easier for the NCI Finance Department to provide contract and program managers the data they need to understand how their contracts are performing.
Specifically, NCI experienced:
- Improvements in working capital
- Savings in personnel costs
- Increased productivity of financial managers and analysts
- Increased efficiency of program managers
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