UK online bank Egg is rolling out Cognos' Enterprise Planning software to its finance staff to manage its budgeting processes.
The Cognos system was selected as part of a strategic review of Egg's financial systems with a focus on Basel II compliance.
The software will be installed and run by the finance team and will be used for scenario planning and performance analysis and reporting.
Cognos says the implementation will also encourage more participation between business managers and the finance department. The business managers will have the tools to see the impact of various scenarios and business opportunities, whilst finance performs value-added analysis activity.
Darren Pope, finance director, Egg, says, "The Egg finance team has a proactive culture and wanted an Enterprise Planning solution that could add value to the business, was flexible enough to adapt rapidly and grow in line with any business change."