BOSTON, Dec. 6, 2017 /PRNewswire/ -- Cubewise, an award-winning global IBM business partner, announced that it has reached an agreement with Tech Data Corporation to deliver a financial planning and reporting solution spanning Tech Data's worldwide operations in America, Europe and Asia.
In September 2016, in a deal valued at $2.6 billion, Tech Data Corporation purchased Avnet Inc.'s Technology Solutions Group, with a strategic goal to expand into Asia and pursue advanced cloud and data center opportunities. The Avnet acquisition accelerated Tech Data's need to develop a worldwide management system and unified planning and reporting tools, in order to harmonize Tech Data's diverse operations and geographies.
"The implementation of the Global Financial Planning and Management Reporting solution will deliver considerable benefits to Tech Data Corporation", says Fawn Le, Finance Operations Consultant at Tech Data. "Most notable benefits include a globally consistent reporting, planning and forecasting tool and process across the company, enabling transparency and accountability of financial performance and comparability across geographic regions, countries, and products and services."
Scott Walker, Tech Data CVP and Treasurer, explains, "Tech Data chose Cubewise as our implementation partner because of their global consulting capabilities and reach across North America, Europe and Asia, as well as its proven record of accomplishment in delivering and supporting complex IBM TM1 / Planning Analytics applications across multiple time zones and geographies."
Joseph Pusztai, GM of Cubewise North America, adds, "Being awarded the Tech Data project has been the capstone to a very successful year for us, and we are honored to have been selected by a world-class organization like Tech Data. We look forward to successfully delivering Tech Data's strategic global projects, and helping them reach optimum levels of efficiency and performance".
ABOUT TECH DATA
Tech Data, headquartered in Clearwater, Florida, is the world's leading end-to-end technology distributor, currently ranked No. 107 on the Fortune 500®, and has been named one of Fortune's "World's Most Admired Companies" for eight straight years.
Cubewise is an award-winning IBM Platinum Partner specializing in helping companies master their budgeting, planning, forecasting and financial reporting processes. Cubewise is a global company headquartered in Sydney, Australia, with 10 regional offices worldwide, including Boston, Zurich, London, Paris, Singapore and Hong Kong. In 2016, Cubewise was recognized as IBM's "Worldwide Financial and Operational Performance Management Business Partner of the Year".