New Cognos Consolidation and Reporting Solution Provides Best Practices for Finance Departments Worldwide



    Group Consolidation and Corporate Reporting Blueprint from Cognos
combines proven strength in enterprise business intelligence and financial
consolidation

    BURLINGTON, MASS., November 13 /CNW/ - Cognos(R) (NASDAQ:   COGN) (TSX:
CSN), the world leader in business intelligence and performance management
solutions, today extended its financial performance management leadership by
introducing a new performance blueprint, the Group Consolidation and Corporate
Reporting (GCCR) Blueprint, designed to help finance departments renew and
improve the close, consolidate and report process through industry
best-practices.

    Finance departments worldwide face continuous pressure to deliver
efficient and accurate financial and regulatory reports as well as support the
appropriate systems and processes to drive better performance. Many
departments are challenged by a lengthy, or inefficient, close process with
multiple manual steps and checkpoints. For these departments, collecting and
verifying data is challenging, as is processing consolidations such as
minority interest, currency, multiple GAAP and regulatory reports. Financial
statements are delivered just in time, with little time available for analysis
or review. These issues are particularly challenging for European Union
countries where legislation such as the Transparency Directive, is driving the
acceleration in reporting timeframes and demanding increased certification of
final results. This puts enormous pressure on systems to support these
requirements.

    The new GCCR Performance Blueprint helps customers address the challenge
of facilitating continuous performance improvement practices while efficiently
meeting the demands of compliance and external reporting under International
Financial Reporting Standards (IFRS). The blueprint is specifically designed
to support organizations that are required report under IFRS guidelines, and
provides a financial consolidation foundation system to support additional
regulatory and management reporting.

    Enterprises such as Austrian-based Falkensteiner (FMTG), a leading hotel
and tourism group, have deployed Cognos 8 Controller 8.2 to manage their
close, consolidation, and reporting process, and are taking advantage of the
best practices and reporting capabilities of the GCCR Blueprint to ensure they
are aligning resources and making process improvements while meeting
regulatory guidelines.

    "We use Cognos 8 Controller 8.2 to reduce our close cycle times. The new
solution augments this efficiency and will assist Falkensteiner's finance
department in ensuring company accounts across the organization are reliable,
transparent and can be easily compared for the purposes of adhering to
European directives and mandates for reporting," said Mag. Johann Pinterits,
Corporate Director Administration and IT for FMTG. "The blueprint will play a
role in accelerating our time to success and lay the foundation for
continually renewing and improving our close, consolidate and report process."

    Cognos 8 Controller is a finance-owned solution with out of the box
functionality that enables users to deploy and manage the financial
consolidation process. Developed by the Cognos Innovation Center for
Performance Management(TM), Cognos' Group Consolidation and Corporate
Reporting Blueprint augments the Cognos 8 Controller solution by providing
templates for IFRS and EU specific processes, including for example a standard
chart of accounts, dimensionality for segment reporting, and rules for
acquisition calculations and currency conversion. Customers can modify and
adapt the blueprint to suit their specific consolidation requirements.

    "Too often, financial performance information is not timely enough for
corporate reporting or for business decision-makers to use effectively," said
Doug Barton, vice president, product marketing, Cognos. "Since the European
Union made the Transparency Directive mandatory, organizations have been
challenged with updating systems and facilitating process improvements to
comply with the mandate. Our new Performance Blueprint provides a best
practices guide to achieve these process improvements and meet reporting
compliance."

    About Cognos Performance Blueprints:

    Cognos offers a full suite of Performance Blueprints to address planning
and performance management process areas that directly impact an
organization's ability to create business value. Both functional and
industry-specific process areas can now be automated, streamlined and
transformed to help organizations quickly create more business value.
Developed by the Cognos Innovation Center for Performance Management, the
Cognos Performance Blueprints are a key component within the Cognos
Performance Management System, which combines technology, best practices,
analytical applications and solutions, and a broad network of partners into a
single performance management solution. For further information on the Cognos
Performance Blueprints see
http://www.cognos.com/innovationcenter/blueprint.html.

    About Cognos:

    Cognos, the world leader in business intelligence and performance
management solutions, provides world-class enterprise planning and BI software
and services to help companies plan, understand and manage financial and
operational performance.

    Cognos brings together technology, analytical applications, best
practices, and a broad network of partners to give customers a complete
performance system. The Cognos performance system is an open and adaptive
solution that leverages an organization's ERP, packaged applications, and
database investments. It gives customers the ability to answer the questions
-- How are we doing? Why are we on or off track? What should we do about it? -
and enables them to understand and monitor current performance while planning
future business strategies.

    Cognos serves more than 23,000 customers in more than 135 countries, and
its top 100 enterprise customers consistently outperform market indexes.
Cognos performance management solutions and services are also available from
more than 3,000 worldwide partners and resellers. For more information, visit
the Cognos Web site at http://www.cognos.com.

    Cognos and the Cognos logo are trademarks or registered trademarks of
Cognos Incorporated in the United States and/or other countries. All other
names are trademarks or registered trademarks of their respective companies.

    Note to Editors: Copies of previous Cognos press releases and Corporate
and product information are available on Cognos' Web site at
http://www.cognos.com




For further information:

For further information: Media Contacts: Cognos, Inc. Connie Costigan,
613-738-1440 Connie.costigan@cognos.com or Lois Paul & Partners Doreen Maciak,
781-782-5832 doreen_maciak@lpp.com or Investor Relations: Cognos, Inc. John
Lawlor, 613-738-3503 john.lawlor@cognos.com

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