Case Study: Old Florida National Bank speeds budgeting and consolidated reporting with QueBIT and TM1

Old Florida National Bank - Customer Case Study

Old Florida National Bank, an Orlando-based community bank, was growing quickly through acquisitions and needed a better way to integrate new entities into its planning, budgeting, and financial reporting processes. After already implementing IBM Cognos TM1, the bank turned to QueBIT to help make budgeting faster, reduce manual effort, and create a controlled, auditable framework for consolidating data across multiple entities.

QueBIT implemented WebWORQ to move TM1 planning and reporting onto the web for non-technical users, eliminating spreadsheet-heavy data entry and human error in the budgeting cycle. QueBIT also added ControlWORQ to automate consolidated reporting, journal entries, eliminations, and audit trails. As a result, Old Florida National Bank cut its budgeting cycle from September-to-December to November-to-December, eliminated human error, and reduced the time needed to produce monthly consolidated reporting by several days.

Old Florida National Bank