IBM Cognos 8 Controller improves closing efficiency and centralizes financial reporting for leading global supply chain and technology manufacturer

Dubai, UAE. June 23, 2008 - Cognos, an IBM company and the world leader in business intelligence and performance management solutions, today announced that Intermec has selected IBM Cognos 8 Controller to automate and manage its financial consolidation and corporate reporting processes. A developer and manufacturer of technologies that identify, track, and manage supply chain assets, Intermec is using IBM Cognos 8 Controller to consolidate, certify and report on financial data from its 25 subsidiaries.

Intermec's core technologies include RFID, mobile computing and data collection systems, bar code printers and label media. Intermec serves thousands of companies worldwide, including 75% of Fortune 500 companies and 60% of the Fortune 100. The organization wanted to improve the financial reporting process by using a centralized consolidation and reporting system. Having already used automated consolidation systems, the finance department was looking to replace the legacy system and update its solution so that all subsidiaries could contribute to the close process.

The organization wanted to revolutionize the process by centralizing control and management, while providing distributed access over the web and ensuring contribution to a single set of numbers. Historically, the consolidation process consisted of the automated collection of distributed databases which rendered the process time consuming and error prone. The selection of a web based solution allows many more users to contribute quickly to a central set of numbers.

"With Cognos 8 Controller in place we now have a greater number of individuals with more timely and complete access to performance reports," said Gary Evans, Sr. Manager, Finance, Intermec. "These are important benefits because while we've centralized all the data collection and control, we've been able to decentralize the reporting. The intuitive interface of the report writer gives every user the capability to write management reports, saving us time and allowing us to focus on our close process. In addition, SOX requirements which call for robust passwords and security restrictions are all met via the software's built-in role-based security controls."    

Organizations are looking to improve their closing process made difficult by business changes, new SOX, IFRS, and local compliance requirements and disparate data and systems. IBM Cognos 8 Controller delivers a single, secure, and robust financial consolidation solution eliminating manual activities on the financial close each month and the risk of error and misstatement associated with spreadsheets  IBM Cognos 8 Controller automates and structures the entire financial consolidation process, provides centralized control and collection of data, supports the improvement of the internal controls environment and ensures delivery of certified and auditable financial performance information for internal and external reporting. Customers get a transparent, accurate and timely enterprise view of financial performance.

"With IBM Cognos 8 Controller, Intermec has an automated process with built-in financial consolidation capabilities and controls for reliable and timely corporate reporting," said Doug Barton, vice-president, product marketing, Cognos. "In the face of the fast-changing business environment and regulatory scrutiny, this finance-owned application compresses the time for finance to close the books and eliminates the risks associated with more manual processes, spreadsheets and legacy systems, thus enabling business stakeholders to speed decisions and report with confidence."

Given its successful IBM Cognos 8 Controller implementation, Intermec is preparing to deploy a complete performance management solution by adding more Controller licenses to the 45 active users in place, and by integrating with IBM Cognos BI and Planning solutions in the coming months. 

Cognos performance management solutions provide a single line of sight across all time horizons. Planning and consolidation combine the forward management view of the business (planning, budgeting and forecasting) with the current and historical view of the business (consolidations, reporting, and financial analytics.) This integrated operational and financial view lets customers proactively address business challenges and opportunities for greater operational effectiveness.

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About Intermec:
Intermec Inc. (NYSE:IN) develops, manufactures and integrates technologies that identify, track and manage supply chain assets. Core technologies include RFID, mobile computing and data collection systems, bar code printers and label media. The company's products and services are used by customers in many industries worldwide to improve the productivity, quality and responsiveness of business operations. For more information about Intermec, visit www.intermec.com or call 800-347-2636.

About Cognos, an IBM company
Cognos, an IBM company, is the world leader in business intelligence and performance management solutions. It provides world-class enterprise planning and BI software and services to help companies plan, understand and manage financial and operational performance. Cognos was acquired by IBM in January 2008. For more information visit  http://www.ibm.com/software/data/  and http://www.cognos.com.

© Press Release 2008