Cognos, a provider of business intelligence (BI) and corporate performance management, announced that Cognos Enterprise Planning Series continues to gain momentum among new and existing customers and is at work in some of the world’s largest organizations and most demanding industries. New customers that have selected Cognos Enterprise Planning Series over the last 60 days include DIRECTV, Inc., Discovery Communications, Wells Fargo, Cigna and General Nutrition Centers (GNC).

Cognos Enterprise Planning Series enables and drives the performance management cycle, bringing together planning, budgeting, forecasting, consolidations, reporting, and financial analytics. Enterprise Planning, typically driven by the CFO, closes the loop between planning and performance throughout all key processes and planning areas of a corporation, delivers real-time insight into future performance, and aligns plans and activities across the organization for fast, efficient, and synchronized execution to maximize business results.

“In today’s unstable and constantly changing global economy, financial executives are challenged with managing financial performance,” said Mark Smith, CEO and SVP Research, Ventana Research. “With Cognos Enterprise Planning Series, Cognos is allowing its customers to continually improve their financial performance and increase strategic value across the enterprise.”

Designed to meet the challenge of a complex and changing financial regulatory environment, Cognos Enterprise Planning Series ensures the integrity and timeliness of financial reports, forecasts, and plans, giving financial executives a means to improve performance across the company by integrating financial processes – such as planning, budgeting, forecasting, modeling, consolidation, and financial reporting. The solution also allows companies to meet the requirements of the Sarbanes-Oxley Act – certification, disclosure and timely reporting.

A recent IDC report (“Sarbanes-Oxley: A Catalyst for a New Category of Analytic Applications?”, April 2003) noted that the Sarbanes-Oxley Act and the regulations that implement its provisions will spur new requirements for robust compliance analytical frameworks and applications software for financial analysis, consolidation, and business performance management.

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