Case Study

Department of Defence

Chartertech has implemented and provides ongoing administration of TM1 environments to deliver standardised reporting and forecasting, across a department with an annual budget of more than $40 billion.

Project scope

Chartertech is engaged by the Defence Finance Group to develop and implement a TM1 environment providing standardised reporting, budgeting and forecasting across Defence.

The solution

With an annual budget in excess of $40 billion per annum, Defence is the Commonwealth’s largest agency with significant volumes of complex financial data. Using TM1, we developed a prototype TM1 system to implement a standardised approach to budgeting, forecasting and management reporting for the department. Providing a single system and process to underpin budget development and updates has improved transparency and accuracy as well as significantly reducing resources and time by automating the creation and validation of budget journals.

We have developed reports to distil information into a meaningful and repeatable format that maintain alignment to core finance systems. The reporting solution provides tiered structure reporting from the top of the organisation model through the hierarchy to operational budget areas. The project also includes the following broader benefits:

  • Standardising the timeframes and approach for the financial reporting, forecasting and internal budget development.
  • Supporting the transition to self-service financial reporting capability.
  • Supporting compliance with the Commonwealth’s financial framework.
  • Improving the quality of financial information and forecasts through the provision of user-friendly templates and reports.

We continue to work with Defence to improve the consistency and maturity of budget performance, analysis and monitoring activities.

What’s Next

Future Opportunities

The continued development of the TM1 prototype will ensure that Defence Finance Group can seamlessly migrate to a more contemporary platform on IBM Planning and Analytics in the future.

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