3. TM1 Implementation Steps

TM1 is purpose-built to streamline complex financial processes. At business transformation firms like ITLink, we’ve helped companies reduce their close cycles dramatically through TM1 consulting projects in Singapore and ANZ.

Here’s how TM1 makes a difference:

1. Consolidate Data in Cubes

• Load ERP, HR, and operational data into TM1 cubes.

• Apply business rules centrally, eliminating manual reconciliations.

2. Automated Reporting

• Generate financial statements (P&L, balance sheet, cash flow) instantly.

• Drill into variances without building new Excel workbooks.

3. Scenario Modeling

• Run “what-if” analyses during close (e.g., FX shifts, cost increases).

• Support CFO decision-making with real-time data.

4. Excel-Friendly Interfaces

• Use Planning Analytics for Excel (PAfE) to maintain familiarity.

• Allow analysts to work in Excel but under TM1’s governed structure.

For enterprises considering TM1 services, the payoff is clear: faster close cycles, higher accuracy, and better governance.

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4. Change Management

Technology only delivers if people and processes adapt. Successful close acceleration projects share these traits:

• CFO sponsorship – visible executive commitment to faster close.

• Training & adoption – analysts equipped to trust automation over spreadsheets.

• Communication – teams understand why acceleration matters: less firefighting, more analysis.

• Quick wins – start with one business unit or process, prove success, then scale.

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5. Measuring Success

To prove ROI, track KPIs like:

• Close duration – baseline vs. post-project.

• Manual journal entries – decreasing counts indicate automation working.

• Hours spent on reconciliations – measurable time savings.

• Time for analysis vs. data prep – shift toward insights and recommendations.

The payoff isn’t just faster reporting. It’s greater board confidence, more accurate forecasting, and a finance team that spends time on strategy instead of firefighting.

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