Core Analytx Oracle Partners

Core Analytx’s Core Planning Module Helps Eliminate Budget Planning And Forecasting Spreadsheet Challenges

Markham, Ontario, Canada (June 11, 2013) – Core Analytx, a provider of software-as-a-service (SaaS)-based business intelligence (BI) services for small-, medium-, and enterprise-size businesses, offers a viable and affordable solution to the multitude of budget planning and forecasting challenges with spreadsheets alone through the company’s Core Planning module. Core Planning is a key component of Core Analytx’s entire suite of BI solutions.

Budget planning and forecasting – especially for small- to medium-size financial institutions and insurance providers – can be a detailed and time consuming process. Relying on spreadsheets alone can also make these tasks daunting and resource intensive.

According Aberdeen Group’s recent Financial Planning, Budgeting, and Forecasting survey, 25 percent of the respondents indicated that the top pressure pertaining to budgeting and forecasting is that they take too long and require too many resources.

Functionality is paramount to a successful budget planning outcome. Using traditional spreadsheets alone, business teams struggle with realistic ways to collaborate on any given segment of the budget planning and forecasting process. Core Planning allows team members to simultaneously work on various aspects of a specific plan or forecast and collaborate more easily.

In addition, with spreadsheets, there is no way to control audit procedures and gauge who made which changes and when. Core Planning tracks who logged on and when to keep a real-time record of budget planning and forecasting updates.

The ability to create “what if” scenarios is also an important consideration, and Core Planning provides a formula creation tool using sliders, for example, to help forecast profitability. A company can input its current sales numbers each month or quarter, or even as often as weekly, and by analyzing its revenue versus current expenses, throw in added labor costs or changes in facilities to see how these adjustments will impact future profitability.

Using a solution like Core Planning makes it easy to import spreadsheets that many departments depend on for planning and budgets, as well as allowing for role-based access within a web interface. Planners and managers can view and share template-based or ad-hoc reports, including those with complex measurements, such as balance sheets, cash flow reports and statement of earnings.

“Core Analytx’s suite of business intelligence solutions simplifies business analytics and reduces the amount of time it takes to gain access to real-time data so that companies can make informed decisions,” said Zunaid Haroon, President and Founder, Core Analytx. “Small to medium-size companies simply can’t afford to invest $500,000 and up on a high-end BI program and need an affordable solution, such as Core Planning, to conduct what if scenarios, manage audit compliance requirements, and collaborate real-time on the management of their sales and revenue data.”

About Core Analytx
Core Analytx, headquartered in Markham, Ontario, Canada, encourages, assists and guides companies to drive business strategy and execution by implementing powerful analytics centric processes. The company’s products and solutions are simple to use and enable a wide range of businesses the ability to provide objective decision support. Core Analytx’s products and solutions are designed for rapid implementation and quick roll-out of business intelligence solutions in days, versus weeks or months.

Media Contact:

Zunaid Haroon – President and Founder

Phone: (800) 514-8022

For more information, visit


Consolidating Data: The Key To Effective FATCA Compliance

U.S. financial institutions (FIs) – especially small- to medium-size community and independent banks – are voicing an increasing number of concerns about how to effectively and affordably handle data analysis and consolidation due to new regulations stemming from the recently finalized Foreign Account Tax Compliance Act (FATCA).

Core Analytx is a software solutions provider that is uniquely positioned to address two of the most pressing FATCA compliance challenges facing all U.S. FIs for that matter: the first challenge they need to confront is to thoroughly identify those products, accounts and customers (both individual and corporations) in disparate systems that are in-scope or out-of-scope as part of a comprehensive pre-existing account analysis. This also includes the requirement that all FIs must review their in-scope pre-existing individual accounts for U.S. indicia, which includes U.S. citizenship, residency, and/or a U.S. residence address or telephone number.

Secondly, the in-scope data must then undergo a thorough consolidation process.  In order to do handle the consolidation properly and meet all FATCA compliance requirements, small- to medium-size FIs with limited resources are finding themselves in a position where they must lean on a robust, yet affordable, software solution. The solution that Core Analytx provides has the power and means to effectively consolidate the data according to all of FATCA’s stringent requirements, yet in an affordable manner.

Dynamic dashboard helps identify in-scope products

One of the integral components that Core Analytx offers with its software solution is a dynamic dashboard that displays all of a FI’s customers based on the in-scope/out-of-scope product analysis and prepares that data for proper representation in required FATCA compliance reports. The dashboard provides FIs a high level of flexibility when analyzing their customer data and has the ability to alert, identify and include products that are in-scope and also exclude products that go out-of-scope. Data integration is near real time.

Lastly, FIs need a strong rules management capability in their analytics solution. It must be flexible enough to incorporate additional rules that might be mandated by new FATCA regulations in the future.

Core Analytx’s products and business intelligence solutions are designed for rapid implementation and quick roll-out in days, versus weeks or months. This is especially critical as U.S. FIs move closer to FACTA’s go-live deadline at year-end 2013. We invite you to explore more information about Core Analytx throughout our website at or call us directly toll-free at (800) 514-8022.