Case Study: New York Blood Center achieves faster, more accurate financial reporting with Revelwood and IBM Planning Analytics

Leveraging Complex Modeling in IBM Planning Analytics at New York Blood Center

New York Blood Center (NYBC), one of the largest independent community-based blood centers in the U.S., needed to completely overhaul its financial reporting system and processes to deliver more accurate, consistent, and timely information to senior executives and the Board. Revelwood helped NYBC replace highly manual, spreadsheet-based workflows and disconnected data sources with IBM Planning Analytics powered by TM1.

Revelwood built a set of custom, complex models in IBM Planning Analytics to consolidate general ledger, billing, payroll, accounts receivable, and accounts payable data into one planning and reporting solution. The new system enabled faster monthly close and reporting, detailed allocation and driver-based planning, and easier support for merger and acquisition reporting; for example, NYBC was able to produce combined financial results for an acquisition in the first month, a process that previously would have taken at least three months.

NewYork Blood Center

Beth Gibson

Chief Financial Officer