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Cognos Inc. on Monday launched analytical software to help retail banks measure the performance of branches.
The Cognos Branch Performance Blueprint, unveiled at the BAI Profitability and Performance Measurement Forum in Las Vegas, Nev., is meant to help banks improve branch profitability through better revenue and expense planning and reporting.
The software contains what-if modeling and analysis for determining the impact of decisions, dashboards to monitor and analyze performance indicators and workflow capabilities to help in collaboration and accountability, officials with the Canadian company said. The new product consists of pre-built data, process and policy models based on best practices in bank operations planning, budgeting and forecasting.
All data is delivered through partner Acorn Systems Inc.'s Profit Analyzer, which assigns general ledger costs and resources through business processes to determine the baseline cost and profitability of individual customers, segments, channels, branches, products and transactions, based on historical performance.
Cognos also offers Performance Blueprints software for other areas across industries, including strategic financial planning and forecasting; sales planning and forecasting; workforce planning; expense planning; and capital expenditure planning.