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Wednesday, May 02, 2007

Cognos and Grant Thornton LLP Team to Deliver New Budgeting Performance Solution for U.S. Federal Civilian Agencies

Federal Budget Planning and Performance framework delivers a standardized and repeatable budget process; enables informed and confident program funding decisions

WASHINGTON, D.C.--(BUSINESS WIRE)--Cognos (Nasdaq: COGN; TSX: CSN), the world leader in business intelligence and performance management solutions, and Grant Thornton LLP, U.S. member firm of Grant Thornton International, today announced the launch of a new joint solution designed to help U.S. Federal Civilian agencies optimize their budget development, planning and performance processes.

The new Federal Budget Planning and Performance framework offers federal agencies a scalable e-budgeting capability that promotes improved budgeting efficiencies and greater accountability. Budgets are developed using standard structures, guidance and processes, simplifying consolidation and facilitating multi-stakeholder input and analysis. By delivering a transparent, integrated top-down/bottom-up budgeting process across the agency, managers are able to better understand how their programs’ resources support bureau and agency goals. All budget data is also centrally maintained, ensuring managers are tapping into the same information in order to drive accurate, consistent program budget decision-making.

Combining Cognos performance management software with Grant Thornton LLP’s domain expertise and best practices approach, the framework offers a complete spectrum of functionality that enables federal agencies to maintain flexible budget management and control, including:

  • The ability to update multiple budget versions and scenarios ‘on-the-fly’ to reflect program changes
  • The flexibility to address changes in budget guidance from year to year
  • Integrated budget document production capabilities, allowing the agency to easily generate Congressional budget books and OMB exhibits
  • An automated workflow, allowing managers to track the latest status of their budget submission
  • Enhanced audit trails, to drive strong accountability throughout the process

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